Payroll operations require a lot of time and resources. They also occur at least each month. While many employees choose direct deposit, not all have bank accounts. There are still many unbanked consumers. These workers still require a printed check. It can be laborious and costly, which is why many companies consider outsourcing payroll print and mail.
If you’re thinking about shifting this to a vendor, you can reap many benefits. However, these vary. A transactional print and mail company will provide the most advantages and peace of mind about security, compliance, accuracy, and quality.
4 Benefits of Outsourcing Payroll Print and Mail
What can you gain by letting professionals handle these tasks? Keep reading to find out.
Eliminate Costs of In-House Operations
If you’re running checks in-house, you must purchase and maintain expensive equipment and machinery. Creating secure checks requires specialized printers. In addition, you have costs related to labor, overhead, paper, ink, and postage.
All these costs vary, so it’s hard to forecast for them precisely. These capital expenditures will also pop up as you need to replace equipment. These expenses will continue to rise even if you print less.
When outsourcing, you can remove all these numbers from your budget. The cost becomes an operating expense only. You could save up to six figures annually by switching. That’s money you can invest in your company to spark growth.
Enhance Check Security
Check fraud has become a highly sophisticated business. As a result, the layers of security for check printing have expanded. Those include:
- Data security for the information that will print on tests, which requires special handling
- Physical security for the space in which checks print
- Security of the check itself
Data security means protecting the digital ecosystem in which information resides. Securing your entire network and using encryption is necessary. With physical security, only those who need access should have it. This minimizes the risk of unauthorized personnel.
Reduce Error Risks
Check security has many components that are necessary in the production process, including:
- Customizable digital void pantograph (DVP) and authentication
- Digital verification grid (DVG) to validate that the document isn’t a copy
- Microprint signature line (MGL) to block duplicates
- HALO feature to stop counterfeiting with a decoder lens that confirms authenticity
- Prismatic Print, which is the blending of two or more colors in the pantograph and is nearly impossible to recreate
Outsourcing payroll print and mail with the right partner makes all these areas of security a priority.
Could the wrong payroll check end up in a worker’s hands? It’s possible that you don’t have any checks and balances for accuracy. Should an incident like this occur, it could be a compliance violation.
Accuracy in payroll print and mail depends on the processes of how documents get to each envelope. Professional transactional printers use intelligent insertion to boost accuracy. It involves barcode scanning, which identifies which documents fold into each envelope. This extra validation can lead to accuracy ratings like ours of 99.9999%.
Follow Checks Through the Mail Stream
Once you mail out a check, how do you know it arrives? Being able to track your documents through the mail stream allows you to know where every document goes.
By using a mail tracking system from your provider, you can log into a secure environment and follow the check from production to delivery.
Having access to this information eliminates any detective work by your staff on where checks are. Should an employee report a lost check, you’ll be able to verify their statement.
Outsourcing Payroll Print and Mail with PCI Group
Migrate the costs and burdens of payroll print and mail to a trusted partner like us. We use the highest levels of security, compliance, and accuracy to print and mail checks. You’ll save money, improve security, reduce risk, and be able to track mailings.
Learn more by scheduling a free consultation with our experts.
