Even though debit and credit cards have rapidly grown in popularity in recent years, outsourced check printing and processing is still a vital financial process for many businesses and individuals. In fact, data shows that, in 2019, Americans were still writing around 18 billion checks every year. So, if you think credit cards have made checks irrelevant—think again.
Check writing, printing, and processing is especially important for businesses as they engage in a variety of financial processes, such as payroll and paying their vendors. Some larger companies may even find themselves writing and printing thousands of checks. To improve the efficiency of these processes, many of these businesses are turning to outsourced accounting firms that can handle all their check printing needs and more.
Here, we’re taking a look at outsourced accounting services—specifically outsourced checking printing—to learn more about why so many companies are shifting toward this option for their financial servicing needs. We also review some of the many benefits of outsourcing your check writing, printing, and processing.
Accounting services, such as payroll, check printing, and address cleansing, are critical for the success of any business—no matter how larger or small. However, many companies may not have the time or resources to handle all their financial needs. Others may simply want to put their financial processes in the hands of experts who can ensure security, improve efficiency, and even cut costs. This is where outsourced accounting comes into play.
Outsourced accounting services allow your business to free up valuable time and resources by hiring an outsourced accounting team to handle some or all of their financial processes. This could include check writing and printing, direct deposit automation, statement and document printing, tax services, and payroll.
Check writing, printing, and processing is one of the most common accounting services that businesses choose to outsource. But why is this? There are various benefits to outsourcing your check printing needs.
Here’s a look at some of the top benefits of outsourced check printing:
It’s always vital to ensure that all of your financial processes, including check printing, are secure and safe. Not only can a security breach lead to a loss of funds, but it can also breach the privacy of you and your employee’s personal information. In some cases, this can result in identity theft. Additionally, a security breach in your systems can also damage your reputation with vendors or customers, which can be even more difficult to repair than lost funds.
Working with an outsourced check printing company ensures that your checks are written and printed with the most secure and advanced technology. Many people are shocked that check fraud is still an issue in today’s world. In fact, according to the National Check Fraud Center, millions of checks are forged every year, resulting in billions of dollars of lost revenue. With an outsourced check printing team, you can rest easy knowing your checks are secure.
It might seem strange at first to claim that hiring an outsourced team of accounting professionals will actually save you on costs. But if you look at the big picture, this decision can save you on various costs. Outsourced check printing firms are the leaders in efficient processes, meaning that they can accomplish your goals without wasting time or resources. They’re simply the best at what they do. Additionally, by outsourcing your accounting needs, your in-house employees can focus on other tasks, saving you substantial money and resources over time.
Any business owner knows how important efficient processes are to the bottom line and long-term success of your company. It’s no different, of course, for your financial services and accounting needs. By outsourcing your accounting services to an experienced team of professionals, you’ll most likely see an increase in efficiency and productivity. These experts focus on nothing else but accounting services, which means you’re working with the best of the best in the field. They have the tools and experience to maximize your financial processes.
The time and energy of all your in-house employees is important. No one can argue that. By outsourcing your accounting services, such as check printing and processing, you can retain your in-house resources and allow your employees to focus on other tasks and projects.
This can be especially useful for smaller companies where employees may be asked to wear multiple hats in their positions. Some employees who weren’t initially hired to perform accounting services, like a Human Resources specialist, may be asked to perform accounting services because there’s no one else to do it. Outsourcing your accounting needs will let your employees focus on what they do best. This can boost productivity, company morale, and your bottom line.
Companies that offer outsourced check printing also have access to the top technology in the accounting field. This means that you’ll have access printing to this technology without paying a premium for these tools. One of the many benefits of this advanced technology is the ability to fully customize your check writing and printing.
Feel free to get creative with your check design and let an outsourced team of professionals handle the rest. In addition to branding opportunities, these customized services can also work for invoices, marketing materials, and rebates.
Accounting services are a critical component for any successful business. Making sure that these processes and services are performed safely, securely, efficiently, and with the latest technology should be a priority for any business. You’d be amazed at how smart check writing and printing services can make a difference for your company.
If you’re looking to improve your financial processes, increase efficiency, and maximize the security of your check writing and printing, consider reaching out to an experienced outsourced accounting firm. These experts can free up valuable time and resources for your employees and take your financial processes to the next level.