Recent research has shown that a considerable number of small businesses will fail due to fraud and related crimes. Fortunately, check handling and clearing can make all the difference. CTS stand for Checks truncation system.
Until recently, most banks have had to struggle with verifying checks before they could clear them. A CTS scanner can make all this seem simple and easy. The system forwards the physical checks and sends the image to the drawee bank branch reducing the time it took to process payments. This provides a reliable system that ensures the validity of a check. Here are six benefits of using Panini CTS scanners.
MICR is a system that helps you recognize electronic ink. Checks carry hidden information that is used to identify important information about them. The MICR checks the validity of a check by verifying the information on each document. There is no room for fraud when you have a CTS scanner. The scanner will verify all the information on the check and ensure that the payments made are real and valid. This will prevent fraud and bounced checks. If you are running an organization, payments made to your company need thorough checking.
Remember when you used to wait for days or even a month for that check? Many people avoid taking checks in fear that the money takes a long process to get to them. In a case where you need to cash out a check to make another deposit possibly for your business, you want to get that done as quickly as possible. A CTS scanner will handle the process of check clearing. With the system, you can get your money in the shortest time possible which works best for businesses and individuals. You do not have a short time. Billing also needs to be quick and easy and this system is there for that purpose.
Ease of use
The Panini CTS scanner is very easy to use. If you need a system that you can get right down to work with then this will work for you. You can operate the machine without training. All you need is to get a manual and get right down to work. If you are not a techie you can still manage to get work done effortlessly with this scanner. There are no complicated practices on how to deal with the system giving you an easy time while running your business.
Efficiency means that every other detail you need from the check is handled with accuracy. Errors can be costly but with the scanner, you have no room for errors. The system is dependable as sometimes you may have a busy day making transactions. You can be sure that the system will not fail you when you need it most. It comes with all the resources you need like the smart chip card reader, bar code reader among other features that are useful in modern business setups.
Data retrieval and storage
Old fashioned methods of storing data are easy to compromise. However, the Vision X CTS scanner has a way for you to save your data for future use. Once you run any document through the scanner, you can access it later as you first had it. The good imaging offers you timeless service. The system backs up everything and keeps it safe. When you need evidence of a past transaction, you can easily search on the system and get what you need.
Better customer service
Explaining to your customers a problem with checks and billing can be hectic. Many people will even avoid making any transactions with you if you do not have the right technology. A customer will be happy when they can easily get their bills as well as make convenient payments. When one wants to buy something in a store, they will be more likely to take it if the mode of payment is easy and convenient. Smart entrepreneurs will ensure that their customers can make easy and safe payments to keep them streaming in over and over again. This is the best way to gain customers’ confidence.