How can tax authorities process cash and checks more efficiently?
Municipal and county tax collectors can experience a variety of benefits from investing in advanced check processing tools that make it easier to handle large volumes of checks on a regular basis. Many local government bodies will be sending out property tax bills to residents who own houses, businesses and other assets subject to existing codes. Recent advancements in technology have provided tax collection agencies with more options for both accepting and processing payments from property owners. However, one of the most common transaction methods continues to be through paper checks sent in the mail.
The Norman Transcript, a news publication based in Oklahoma, said Cleveland County municipalities will be sending out property tax bills earlier than ever this year to limit the risk of counting errors.
Processing a large number of property tax payments from residents can quickly become a cumbersome and time-consuming process. However, investing in a high-quality check scanning solution can result in immediate cost- and time-savings:
Do more with less
Handling public money is a high-stake responsibility that holds high standards for accuracy. Making mistakes while counting totals can result in long-term consequences. For example, inaccurate tax revenue may negatively impact agencies and organizations that rely on public funding. Residents will also likely be upset if their payments aren't processed correctly. Rather than running the risk of miscounting finances through manual labor, municipal bodies can leverage advanced technology to streamline the counting process.
More time to perform other tasks
By investing in a check scanning solution that images checks, prepares the deposit and sends it to your financial institution, agencies also eliminate the need to spend excessive amounts of time manually processing property tax payments. Tasks that would otherwise take several hours can suddenly be completed in minutes with the right tools.
Reduced overhead costs
Freeing up time during the workday also has positive impacts on operational costs. For example, a check processing solution can allow a tax collection agency to operate at a high capacity with fewer or the same number of people on the payroll.
November 14, 2013