manual processing takes 130 hours a year but 63% of firms have found a better way.
by roman h. kepczyk
quantum of paperless
one of the easiest processes to convert to paperless with an immediate roi is the firm’s system for depositing client checks. manually receiving and physically going to the bank to deposit checks can be time-consuming and subject to too many errors.
the manual procedure requires firms
- open mail on a daily basis,
- make copies to file in a binder,
- complete deposit slips and then
- send a person physically to the bank,
which can easily take a half hour every day, five days per week, 52 weeks per year.
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