Other benefits include shorter lead time on blank stock reordering, storage space is minimized and your corporate logo can be included on your checks and changed when necessary with minimal disruption. And, because MICR systems use laser printers, there is little noise in comparison to the typical impact printers, which usually require a special room or acoustical enclosures to squelch the din. Electrifying Another important benefit that some MICR systems offer are optional software modules that allow a smooth transition to various forms of electronic commerce. While the days of a paperless, checkless world are still in the future, MICR software can help migrate at the corporation's own pace. Some experts compare the transition to electronic commerce with the move to payroll direct deposit.
Few companies can mandate that all employees take direct deposit.
Rather, it is a gradual process in which multiple methods and forms of payment must be accommodated simultaneously. A starting point for migrating to electronic payments may be travel and expense reimbursement. Almost any size organization can benefit from a MICR payment management solution. As an information systems auditor, this type of system offers a way to improve and secure the internal and, to some extent, external payment process. According to James Flis, director of financial analysis and assistant treasurer for Prudential Healthcare, based in Roseland, New Jersey, USA, check fraud protection and detection requires a mix of old and new internal control practices, as well as careful coordination with the corporation's bank.