The ROI of MICR Examine Publishing Vs Pre-Printed Checks

Discovering the benefits and advantages of MICR Examine Publishing in comparison to Pre-printed Checks

The company case for investing in a MICR Examine Publishing remedy for your lender's divisions should begin with understanding the benefits and performance benefits eventually. A MICR Examine Publishing Solution in comparison to pre-printed assessments via laser printing device yields:

· Price benefits - such as the expense of document, skin toner, etc.

· Efficiency benefits - such as the it takes to print

· Enhanced support encounter - such as time the customer stays for the product to be printed

· Enhanced protection - such as the safety measures that decrease risk of fraud and other losses

While every standard bank division situation is unique, let's use the following division, printing device, number of products and price presumptions for this ROI exercise.

Here's the presumptions of this ROI analysis:

· 25 divisions with 1 MICR Printer per branch

· Official products printed out per year: 30,000

· A chance to problem one check: over 4x's faster with MICR Examine Publishing Solution

· Price per usable (toner) $.02 more per page with MICR Printer

· Paper Price per item: $1.92 more without MICR Printer

· Teller labor cost to problem one check: $1.50 more without MICR Printer

With the above presumptions, here's the estimated benefits over a very extensive period which generate an ROI:

· Savings over 3 years: $307,540

· Savings over 5 years: $511,900

Did You Know?

In addition to the price benefits, MICR Examine Publishing Alternatives also give the additional benefit of providing magnetic ink protection that mitigates the following risks:

· Examine Inventory Pilfering - such as pilfering check stock to use fraudulently

· Examine Alteration - such as altering a assessments quantity and/or payee

· Examine Replication - such as copying the same check amount

· Fake Checks - such as counterfeiting a make sure looks like a real check

· Common Balance sheet Mismatching - along with a make sure is applied to a different general ledger

· Piggybacking - such as discovering products during image capture

Today, MICR skin toner is still government required by the U.S. government to be on any make sure is issued to an individual or company. However, conventional ink and MICR skin toner look the same to the naked eye. So, if products are printed out with conventional ink by accident, no one may find out until those things are fed through a MICR reader. Look decline fees can come at a expensive cost for a standard bank, bank or other standard bank.

Next Steps

So as you add up the price benefits, performance benefits, improved support encounter that has been enhanced to protect your standard bank divisions, search for a MICR Examine Publishing treatment for get started nowadays.

Source Technologies provides MICR Examine Publishing solutions for banks and lending institutions that website, improve performance benefits, and enhance protection.