Cummins-Allison Helps Retailers Convert Time-Consuming Check Processing Into Operational Efficiencies

As all retailers know, the paper check is still a popular form of payment. In fact, more than 24.5 billion checks are still written annually, and researchers expect checks to remain a viable form of payment for the next 20 years. Processing these checks internally is a time- and labor-intensive activity, traditionally handled as separate functions and entailing significant operational costs.

Recognizing the need for a technology solution to reduce redundant processing, Cummins-Allison, the leading innovator and provider of currency and coin handling solutions, designed the JetScan iFX i100, which makes processing checks and currency separately a thing of the past. One machine can now process both checks and currency at an unprecedented speed of 400 two-sided check images per minute and 1,600 notes per minute.

Lower Operating Costs
For retailers large and small, keeping operating costs in check remains critical. With the JetScan iFX i100 currency and check scanner, operating costs can be dramatically reduced by eliminating entire workflow steps associated with balancing cash tills and preparing deposits. With the ability to merge two processes into one, balancing and deposit processing time is dramatically decreased, along with the redundant labor costs. Faster processing time also reduces overtime costs as personnel are able to end their shifts on time. And, since both currency and checks can be processed on a single device, equipment costs are also lowered.

Improve Productivity
By consolidating check and currency processing, retailers not only cut costs, but also can benefit from a complete electronic record of currency totals and an image of every check, instantly available for remote deposit capture and leading to quicker access to funds.

The JetScan iFX i100 delivers quantifiable productivity gains with 40 percent faster currency processing and 200 percent faster check imaging. The JetScan iFX i100 also improves individual employee productivity, with the lowest note rejection rate in the industry - meaning less stopping to re-run notes. Productivity is also enhanced by the JetScan iFX i100's simplicity and ease-of-use, including an intuitive touch-screen display that minimizes operator training and human error.

Future-Proof Platform
While lowering costs and improving productivity are clearly crucial to retailers of all sizes, it's also imperative that the technology solution can grow easily and affordably. The JetScan iFX i100 features the most advanced technology available, such as the ability to store images digitally and can be scaled up as a retailer's needs change and/or as technology evolves - ensuring a future-proof platform that will never become obsolete.

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 100-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 more than 70 countries.

SOURCE: Cummins-Allison