Is RDC right for your business? We've covered many of the benefits of putting a remote deposit capture (RDC) service to work for your business in past blogs. RDC provides convenience, time savings and operational efficiencies to businesses by electronically processing and depositing check payments. But wait, there's more!
RDC can also save your business money in labor and transportation costs. To help determine the specific benefits for your business, perform an evaluation by looking at the areas and personnel that are involved with banking and reconciliation. This list of questions will help you identify the time spent on transportation, and the financial costs of staffing and record-keeping.
Ask yourself, or your business manager, these questions to find out if RDC is right for your business:
- How many checks do you receive per day?
- How long does it take to prepare deposits for banking?
- Do you make deposits during your business day or when it is convenient to you?
- How many trips to the bank do you make each week?
- What does it cost to travel to and from the bank (mileage)?
- How long does it take you, or a staff member, to travel to and from the bank (minutes)?
- How much time do you spend in the bank, on average?
- How many courier deposits do you average per month?
- What is the cost per courier deposit?
- How many banking deposit relationships do you have?
Getting set up with RDC can be simple. Along with an RDC service, you'll need a check imager connected to your PC. (Some payment providers, including CrossCheck, loan equipment at no additional charge.) Checks are scanned, a receipt will print for your customers, and at the end of the day you upload the check information to your provider for processing and deposit, eliminating the time spent filling out deposit slips. Using an RDC service with check guarantee provides additional convenience if a check transaction is returned for NSF.
For more information on comparing RDC processing to traditional "go to the bank" deposits, try out the Remote Deposit Capture Plus Comparison sheet and download our RDC white paper. Already using RDC? Let us know how your business is benefiting.