How a MICR Printer Can Enhance Your Accounting Team’s Workflow

Security, efficiency, and accuracy are essential factors every accounting team must prioritize to help maximize their team’s productivity, without compromising the quality of your work. With an ever-growing need to fight against check fraud and slow processing times in today’s digital, fast-paced world, MICR printers provide accounting teams with the best of both worlds: security and efficiency.

Having your team’s own MICR printer in-house allows you to streamline your team’s check printing processes while ensuring sensitive check information remains secure. It can also help boost your accounts payable automation workflow when it comes to invoice processing. Keep reading to learn more about why your accounting team should invest in a MICR printer.

What is a MICR Printer?

A MICR (magnetic ink character recognition) printer uses special magnetized ink to print numbers and other characters on the MICR line at the bottom of checks. The MICR line typically includes the check number, account number, and your bank’s routing numbers which helps to identify and process a check.

Because the MICR printer uses special ink and font on the MICR line, this allows the line to be read by advanced technology, making it difficult to recreate and reducing the risk of check fraud. A MICR printer can also be used to process other financial documents like invoices and receipts. Keep up with all aspects of your financial records and payments beyond simply using your MICR as a check printer. Record keeping, managing tax season, and watching your financial records are multiple ways your accounting team can make the most of this technology.

Reasons to Avoid Outsourced Check Printing

While outsourcing check printing may seem like a great way to gain back more time for your accounting team, in the long run, outsourcing can lead to a variety of potential issues, including:

Lack of Quality Control

Inevitably, you become dependent upon the service provided by the third party you outsource your check printing work to. This has the potential to cause issues with printing quality and accuracy and can be difficult to fix on your own unless you change vendors.

Slower Turnaround

If you become dependent on the third party provider that you outsource your check printing to, you do not have control or oversight over the whole process. It is difficult to speed things up or manage your own check printer on your preferred schedule, and is hard to change unless you change vendors or get your own check printer.

Potential Security Concerns

Security is another potential concern that cannot be overlooked when outsourcing check printing to a third party. When you rely on another provider, you are putting your trust in them to protect the sensitive financial information on the checks. The third party provider has access to your payments and financial records.

Benefits of In-House Check Printing

In-house check printing boosts turnaround times, offers a greater sense of security, and more benefits.

Greater Security

In-house check printing gives your accounting team greater peace of mind that the security of sensitive financial information is safe and secure. When you outsource check printing, you are putting your trust in the vendor to maintain a certain level of security. However, having your own printing processes and printing equipment boosts your overall security.

Faster Turnaround Times

Another benefit is in-house printing provides faster turnaround times– no more frustration from unexpected time delays from a third-party service provider. This ensures you can meet payment deadlines on time and maintain an efficient workflow.

More Cost-Effective Option (Long-Term)

While you’ll experience more upfront costs to purchase your in-house printing equipment, in the long term, in-house check printing offers a more affordable alternative to outsourcing, especially if your business requires a high volume of check printing.

Complete Control In-House

In-house check printing gives you complete control and flexibility to manage your team’s check production efforts. From minimizing delays to being able to act and quickly print checks immediately if an urgent situation arises, this gives your team freedom and peace of mind. Easily keep track of your financial records when all aspects of check printing and payments made are happening in-house.

How Your Accounting Team Can Benefit From Having a MICR Printer?

Ready to make the shift from outsourcing to in-house check printing? MICR printers are a convenient, secure, and efficient solution to optimize your accounting team’s check printing system.

MICR printers not only automate the check printing process but can help with invoice processing too. A MICR printer provides automatic invoice processing using advanced software that automatically generates a check with the right MICR print upon approval of the invoices in your system. So, if you have a vendor invoice that needs processing, the MICR printer helps print and process vendor invoices so you can ensure they match the purchase order, thus making the accounts payable invoice processing system much more efficient.

Whether you are looking to boost your accounts payable automation workflow, or need help processing financial documents from invoices to checks, you should invest in a MICR printer. A MICR printer not only can make your accounts payable process more efficient for tasks like invoice processing. But, it also reduces the risk of potential security and quality control concerns if you currently outsourcing your check printing to a third party provider. 

Elevate Your Accounting Team’s Workflow

Frustrated with your current check printing vendor? Now’s the time to make the switch from outsourcing to in-house check printing and invest in a MICR printer. Our team is here to help you find the best tools to optimize your business. From processing checks to invoices, receipts, and more, having a MICR printer in-house helps reduce errors and boost security and efficiency for your team.

Contact us today so you can learn more about our services to help maximize your business’s potential.