Why Checks Remain Relevant in Business

As the modern world evolves, longstanding traditions and methods of business aren’t necessarily phasing out; only changing shape. Blockbuster turns into Netflix, taxis turn into Uber and Lyft, and countless other examples.

Checks are no different. Just because digital checks dominate in 2023 doesn’t mean paper checks have faded into oblivion. Check printing service companies, such as SmartPayables, have to get ahead of the landscape and provide solutions that fit the modern world.

Checks continue to remain relevant because they remain simple, secure, traceable, are largely accepted in the world, and allow businesses to maintain appearances. Companies also take longer to shift consistent payment methods than other facets in their organization that are seen as more malleable.

Many of these modern solutions have led to outsourcing. Convenience is key in 2023 and beyond, and allocating check printing and mailing services, direct deposit automation services, address cleaning services, and more to a bona fide expert firm can help you adapt in real-time to modern changes and challenges.

In this blog, we’ll break down why checks may change their shape or form, but won’t cease being relevant in the business world, at least for the foreseeable future. You may not carry a personal checkbook around the grocery store anymore, but physical checks still accounted for 42 percent of business-to-business (B2B) transactions in 2019 despite the recent explosion of digital options in the 21st century.

Keep reading to see why checks simply won’t go away.

Checks Remain Simple & Professional

Checks have been used since the days of the Templar Knights. People and businesses alike have relied on them for their simplicity, convenience, and effectiveness. You don’t always have money on you, so a check can provide a solution that both businesses and individuals rely on and use frequently. If a business allows you to pay via check, it will likely be the payment method of your agreement or partnership going forward.

Some old habits die hard, and even modern businesses are having a hard time getting rid of checks completely. Whether you get paid via paper check or direct deposit, you still are receiving a check for your work. The familiar, blissful feeling of receiving your check on payday never fades.

Checks Remain Secure & Traceable

More than 14.5 billion checks totaling $25.8 trillion were written in 2018, according to the United States Federal Reserve’s latest payments study, via Money.com. Like any other carefully executed payment method, checks are usually extremely secure.

They’ve become more secure as time has gone on as well. Innovative technologies have allowed for more failsafe features of checks to become more commonplace.

For example, below is a look at the most advanced and effective check security features:

Micro printing

This type of print is found along signature lines and also the borders of the check. This specialized type is clearly visible when put under magnification; however, it will become blurred if the check is scanned or copied.

Watermarks

A watermark is a message or image that is superimposed onto another image or document. For checks and other financial documents, the watermark is often pressed onto the check during production.

Watermarks are visible when held up to the light and extremely difficult to reproduce by fraudulent means. Watermarks are one of the most effective ways to combat counterfeit checks and to verify authenticity.

Thermochromatic ink

This specialized ink is created to disappear when exposed to heat, thus, making it difficult to scan or artificially reproduce. One of the more common check security measures, thermochromatic ink is one of the quickest ways to verify the authenticity of a check.

Visible fibers

During production, additional fibers may be added to a check that makes it much harder to reproduce. Visible fibers, which come in different densities and colors to differentiate them, may be added to the sides, back, or front of the check and are easily visible to the eye.

Toner adhesion

Some checks may be printed on a special type of paper that actually anchors down the printer toner. This makes it incredibly difficult for someone to remove or alter information or chemically wash the check without damage occurring.

Chemically reactive paper

To fight against check washing, some checks are printed on chemically reactive paper. When treated with bleach or other solvents, this unique paper will reveal a “stain” or blue or brown mark.

Changing Shape to Meet the Needs of the Landscape

Moving to digital means has proved safer than handling pen and paper, especially for important business deals. Checks remain relevant by changing their shape to meet the digital landscape. Companies handle multiple services through a digital lens, including:

  • Check printing and mailing
  • Statement printing, stuffing, mailing
  • Patient statements and invoices using HIPAA certifications
  • ACH/direct deposit automation services
  • CSV formatting
  • Address cleansing
  • Check printing API software
  • And more

But not all businesses will prefer digital means. Many still rely on paper checks and use them in their daily operations. But checks are evolving to provide options to businesses and individuals in any organization.

Outstanding Service Through Outsourcing

Allocating your checking needs to an outsourced check mailing service firm can provide you with all the benefits of traditional check printing and mailing methods, but with boosted security. It also allows you to save time and improves your payment processing methods.

These experts know how to meticulously trace and monitor your checks to watch for human error, cut down mistakes and misplacements, and use innovative tools like address cleansing to ensure your checks are delivered timely and accurately. Your bank information is safe and secure, whether you’re opting for recurring payments or a one-time transaction.

With around-the-clock service and maintenance, an outsourced printing and mailing firm can utilize its resources to secure your finances stronger than ever. They can also automate direct depositing, improve billing processes, and provide reporting features that update you on progress.

Compared to handling all these matters in-house, you can rest easy knowing a professional has your finances under l lock and key. It makes your payment methods smoother and allows you to focus on more pressing matters throughout your business day.

Conclusion

Though paper checks are making a significant decline in the business world, check mailing and printing are still relied on heavily in several industries. Checks remain simple, safe, traceable, and comfortable for many business owners and other individuals.

If you’re looking to outsource check printing services, enjoy direct deposit automation, or receive financial security for your checks and payment options, call our professionals at SmartPayables today by dialing (720) 287-0030.

Our experts can answer any questions you might have and provide you with all the information you need to better secure your business or personal checks.

Author at Smart Payables | (720) 287-0030 | Website | + posts

Founded in 2005, Smart Payables offers a full range of accounts payable payment solutions including outsourced check printing and mailing, document and statement printing and mailing, ACH direct deposits + more. Our highly experienced software developers and intelligent printing teams specialize in secure, enterprise-grade payment options that are HIPAA, SOC 1 Type 2, and ISO compliant. Our mission is to help businesses and large organizations implement secure, innovative technology that will reduce overhead and improve business operations and capabilities.

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