5 key features to look for in check-printing software
Smart check printing software allows organizations to print their checks expediently and securely. Doing so is a must for certain types of businesses that need to process payments quickly, manage business accounts, and track their expenses.
Finding the right check printing software that ticks all the boxes isn’t always easy, but never fear. We’ll help you find the best software depending on your business needs, identifying the key features and benefits you should be on the lookout for when you shop around.
Check printing software defined
Before discussing the key features of check-printing software to be on the lookout for, it’s helpful to assess what check-printing software is in the first place and why you might need it. You can use check-printing software to process payments you make to clients in an efficient format. These programs are generally built with security, efficiency, and customization in mind.
Check-printing software aims to provide accuracy with data entry, customizing options for your company logo, and the capability of printing multiple checks simultaneously. To summarize, here are some of the essential features check-printing software will include:
- Delivery confirmation – Some software will give you and the payee delivery confirmation for your records and security.
- Electronic payment – Where appropriate, you can send payments through an electronic system to save money on laser printing.
- Pay reporting – Customers can generate reports for their bank, which ensures that the checks are appropriately processed and cashed.
- Signatory approval – Different authorization methods allow for different levels of stringency when drafting checks.
- Check reconciliation – Check-printing software may help you to integrate checks that have been cashed more readily by importing files provided by the bank and seamlessly transitioning them into the software database, displaying the check’s approval status.
- Custom security measures – Good software will help you detect fraudulent modifications to the checks via watermarks and customizable information.
- Remote printing – Some check-printing software will enable you to print checks from afar.
- Check sorting – Check-printing software may be able to help you store data effectively by sorting checks based on different criteria.
With these general features in mind, here are some elements you should check before investing in a check printing software service.
What features should check printing software include?
1. Security
It stands to reason that check-printing software should be secure. After all, checks contain a fair amount of personal information and must be secured so that only the party receiving the payment can cash it.
Check-printing software should always come with advanced encryption technology to protect the checks from fraudulent activity. Of course, security methods used by check printing software services differ from the security measures taken to prevent fraud with physical checks.
These programs must be robust in cybersecurity, ensuring that only authorized business personnel can access the application and that the checks are created, signed, and delivered in an encrypted format safe from online criminals.
2. Scalability
Another vital aspect of check-printing software to consider is scalability. Like cloud-based services, many check-printing software services must be capable of scaling to preempt business growth.
If you’re relatively new to the business world and your business is just getting started, you need a check-printing software company that can scale up or down based on your needs.
Check-printing software should help alleviate some of the stress in your business pursuits, not add to them. As such, particularly for smaller businesses that don’t have the resources to develop their own check printing configuration, scalability is a must.
3. Reliability
Reputation is always important when it comes to any business partnership, and when it comes to handling your financial transactions, reliability is everything. Check-printing software companies should have a good reputation with their clientele, be receptive to any questions you may have, and be well-reputed on third-party sites.
You can use the Better Business Bureau database to check whether a business has received positive feedback and how trustworthy they are. You can also review customer testimonials and disputes to see how the company deals with conflict.
4. Compatibility
While it may seem like a relatively simple concern, compatibility is something you should investigate when looking into check-printing software options. Some software is only compatible with certain types of OS.
It’s also important to note that while some check-printing services claim compatibility with multiple operating systems, they may be prone to more bugs, security concerns, or other problems if the software isn’t well integrated with the system. Once you narrow down a list of potential software, it’s well worth your time to research how they perform on different operating systems to ensure that yours is compatible.
OS compatibility may be a legitimate component in any of the following essential features of check-printing software:
5. Record-keeping
Lastly, check-printing software should enable you to keep payment records more effectively. While check-printing software usually operates independently, you should ensure that the service you sign up for provides payment confirmation, letting you know when a payee has cashed the check so that you can stay on top of business expenses.
Similarly, check-printing software should reconcile data from the bank about cashed checks and store that data in the software itself. Doing so provides another security outlet, proving through the bank itself that you did pay the individual via check.
Check-printing software can also help sort data, so make sure you pick software that allows you to sort checks by type. If you have a recurring payment schedule with a particular client, you can filter the checks by the payee to review your transaction history. It’s all part of making sure your business record-keeping is airtight, and check-printing software should be just one more confirmation that those records are accurate.
The bottom line
Outsourced check-printing software is helpful for many different businesses, whether established or just starting to grow, to streamline the payment process securely online. Many other outsourced services like www.hecticapp.com are very beneficial to look into for your business. Often, these services are less expensive than configuring or physical checks yourself, and you can even work with them to customize your checks with your business logo.
Ensure the check-printing software has staunch security measures, scales to your business, is reliable, is compatible with your OS, and supplements your record-keeping to elevate your business payment practices to a higher level!