Cummins Allison Explains How Retailers Can Benefit From An Alternative To Remote Deposit Capture Solutions

Mt. Prospect, IL – Many retail organizations are still using outdated, manual processes to prepare deposits – including labor-intensive physical entry and balancing, as well as expensive transportation of paper checks.

With armored carrier pickup costs and financial institution processing fees adding up, retailers need an efficient way to automate check processing. In the past, retailers typically implemented a Remote Deposit Capture (RDC) product and horseshoe-type check scanner to automate check processing. Often this solution was difficult and slow to operate, delivering less than positive results.

Cummins Allison, the leading innovator and provider of coin, currency and check handling solutions, shares why RDC is not always the best fit for retail environments and highlights a different solution that can be used to efficiently and accurately process checks electronically. 

RDC limitations

Created as a one-size-fits-all solution, RDC doesn’t always meet the needs of each and every retailer.

For example, some retailers may have restrictions on the amount of data transmitted via electronic check files, which tend to be very large, for fear their internal network will be overwhelmed. Retailers also need assurance that the RDC file type, size and image quality of any electronic output is acceptable by the retailer’s financial institution (FI) and that the specific data output (e.g. individual drawer totals) is made available for the retailer’s internal accounting purposes. Most RDC products available today do not offer these capabilities.

A more flexible solution for electronic check processing

Today, there is a much more flexible solution available to retailers – the Cummins Allison JetScan iFX^® with Deposit Balancing Manager (DBM) software. By processing over 400 checks and 1,600 bills per minute on a single device, retailers can streamline operations, save valuable time and reduce labor/overtime costs. The JetScan iFX with DBM allows retailers to:

• Automatically image, tally and verify the amount of each check and bill, and compare them to the deposit slip total – eliminating time-consuming manual steps
• Quickly reconcile deposit documents against the declared value – reducing errors
• Electronically transmit check images and deposit amounts to their FI for improved cash flow and lower handling fees

Designed especially for retailers, the JetScan iFX with DBM solution helps convert paper check processing to electronic. Easy to use and cost-effective, retailers can benefit from a combined, accelerated deposit preparation and balancing process. Now retailers can take advantage of a flexible electronic check processing solution that can accurately image large volumes of checks, count down individual cash till drawers, make corrections, create an image cash letter (ICL) and transmit the deposit. 

For more information on how retailers can improve check processing with the all-inclusive JetScan iFX with DBM, visit www.cumminsallison.com/checks

About Cummins Allison

Cummins Allison is a global leader in developing technologies which count, sort and authenticate currency. The U.S.-based company has a 125-year heritage of leadership in technology and product innovation and currently serves the majority of financial institutions worldwide, as well as leading organizations in retail, casinos, law enforcement and government. The company holds more than 350 U.S. patents and has ongoing research and development (R&D) investments double the industry average. Cummins Allison is headquartered near Chicago, IL with R&D centers near San Diego, CA and Philadelphia, PA and wholly owned subsidiaries in Canada, the United Kingdom, Ireland, Germany and France. The company also has an extensive sales and service network with more than 50 offices in North America and is represented in over 70 countries. For more information, visit www.cumminsallison.com.