CATEGORY

Cheque Processing Services

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Cheque Processing Services Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Cheque Processing Services category is 6.20%

Payment Terms

(in days)

The industry average payment terms in Cheque Processing Services category for the current quarter is 63.8 days

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Category Strategy and Flexibility

Engagement Model

Supply Assurance

Sourcing Process

Supplier Type

Pricing Model

Contract Length

SLAs/KPIs

Lead Time

Supplier Diversity

Targeted Savings

Risk Mitigation

Financial Risk

Sanctions

AMEs

Geopolitical Risk

Cost Optimization

Price per Unit Competitiveness

Specification Leanness

Minimum Order Quality

Payment Terms

Inventory Control

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    Cheque Processing Services Suppliers

    806
    Total Suppliers
    11
    Diverse Suppliers
    66
    Normalized Supplier Rating
    Cheque Processing Services Supplier

    Find the right-fit cheque processing services supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

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    Sample Supplier
    Company
    American Express Company
    Location
    Jackson, Mississipi
    Duns number
    3862211
    D&B SER Rating
    dnb logo

    Up to 3 months

    1 9
    6
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile
    Company and Sector Performance
    42
    100
    Limited (1)
    ESG Perfomance (/100)
    Environment
    85
    Social
    31
    Governance
    48
    6 Domains Performance (/100)
    Business behaviour
    39
    Human rights
    47
    Community Environment
    26
    Corporate governance
    54
    Human resources
    21
    Security Scorecard
    90
    Threat indicators
    B
    83
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    A
    97
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    B
    86
    Application Security
    Detecting common website application vulnerbilities
    B
    86
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    A
    98
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked
    Industry Comparison
    amexglobalbusinesstravel.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    12
    Human Rights Issues
    0
    Production Supply Chain Issues
    2
    Environmental Non Compliance Flags
    14
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    26
    Fraud Issues
    3
    Labor Health Safety Flags
    3
    Regulatory Issues
    22
    Workforce Disputes
    0
    Sanctions
    1
    esg energy transition
    86
    Discrimination Workforce Rights Issues
    3
    esg controversies critical severity
    No

    Cheque Processing Services market report transcript

    Cheque Processing Services Market Outlook:

    • The highest adoption rate of cheque processing is in Asia Pacific, and particularly, in countries, like India, China, Malaysia

    • Due to COVID-19’s impact, most of the clients have transacted through digital banking, and so, it has reduced the usage of cheques. These side effects are slightly offset by the use of Cheque Truncation System (CTS) and Cheque Imaging Services, which offers contactless and quick transactions.

    Supply Market Outlook

    • It has been observed that cheque processing as a mode of payment is considered obsolete in North America and Europe

    • The highest adaption rate of cheque processing is in Asia Pacific and particularly in countries, like India, China, Malaysia and middle eastern countries but are being phased out in countries like Australia and New Zealand.

    Market Monitoring: Cheque Processing

    Banks have the option of truncating the cheque at the branch or the service branch or outsourcing the process completely.

    Cost Components

    Investments required to implement cheque truncation can be divided into two areas:

    • Hardware: Investment in scanners, based on the truncation model chosen by bank. Interestingly, most banks will have an existing scanner and may be able to extend its usage

    • Software: Applications required for integration into the bank’s core banking system and implementation of the cheque truncation software. These costs will form the major chunk of the overall investment required and will be costlier than the hardware costs

    Procurement Centric Five Forces Analysis: Developed Markets
    (North America and Canada)

    Supplier Power

    • It has been observed that supplier power of cheque processing providers in the developed markets is medium, as cheque processing as a payment method is becoming obsolete

    Barriers to New Entrants

    • It has been observed that barriers to new entrants is relatively higher, as the cheque processing regulation changes from time to time

    • New entrants are not willing to enter the cheque processing market, as the adaption rate of cheque processing is decreasing in the developed markets

    Intensity of Rivalry

    • Intensity of rivalry is relatively higher in the developed markets, as there are many major providers have into the cheque processing space

    Threat of Substitutes

    • Threat of substitutes are high in the developed markets, as there are many alternate payment options that poses a threat to cheque processing systems and the adaption of other digital payments are relatively higher in the developed markets

    Buyer Power

    • It has been observed that buyer power is relatively higher, as cheque processing adaption level is relatively lower in the developed regions and suppliers offer rebates in processing cheques

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