Accounts Payable is a critical function of every business, and it is important that invoices are paid quickly and efficiently. Although personal check payments have declined over the past decade, most businesses still use check payments to pay their bills, according to the Federal Reserve’s 2016 Payment Study. MICR printers can offer these businesses the ability to minimize the risk of fraud and human error, while saving money.

Before MICR Check Printers: Manual Issuance of A/P Check Payments

Most Accounts Payable (A/P) departments that pay invoices through check payments still use preprinted checks and a laser or dot-matrix printer instead of a MICR printer. Those preprinted checks alone pose some significant risks:

• cost – Stock of preprinted checks is expensive to purchase, store, distribute, and reorder if company information changes.
• Fraud – A preprinted check is the easiest instrument to alter or forge.
• human error – Manual processes are vulnerable to errors.

After: Automating the Accounts Payable (A/P) check issuance process with MICR printers

An integrated software and hardware solution built specifically for check printing creates a secure and cost-effective method of printing A/P invoices on demand while providing control over the entire process. Accounts Payable printing solution includes CheckPartner Enterprise software and secure MICR printers.

CheckPartner Enterprise combines the data transfer capabilities of the Internet and the latest check printing technology to enable businesses to print checks securely with complete control of the process. Our secure MICR printers print static data, variable data and required signatures on stock of blank checks on demand in a single printer pass. This combination of software and hardware offers control and visibility to print A/P check payments on demand, offering greater efficiency for this business-critical function.

Listed below are the benefits of using a secure MICR solution for check printing.

• Eliminate the need for preprinted check stock – save 82% on paper costs alone by switching to blank check stock and check printing technology

• Virtually eliminate the risk of check fraud – no preprinted checks to steal

• Automate a manual check payment process – automation eliminates the risk of human error

Does your business still use checks to pay employees? Save money and reduce the risk of fraud by implementing a secure MICR solution for printing checks. After all, who doesn’t want to save some money and not lose sleep over how they distribute their employees’ earnings?