logo
CheckFaxRDC
CheckScanRDC Consulting About Us

June 2012
Small and Home Businesses Are Not All the Same – An RDC View

Because small and home businesses (SHBs) are a category we are often tempted to think of them as homogeneous, or even worse as being like consumers. Small and home businesses are not consumers and generally consumer oriented RDC solutions do not meet their needs.

Some SHBs Do and Some Don’t Accept Cash
Like large businesses they identify with their industry first and just happen to be small.  They share industry characteristics, such as: whether they accept cash, credit/debit cards, and checks; and the average check size.  Like larger businesses, if they receive cash they need to get to a bank or ATM.  This makes them less attractive RDC candidates than those in non-cash businesses.

Some Non-Cash BSHBs Deposit Many Small Checks and Others Only a Few Large Ones
There are 20.1 million non-cash small and home businesses depositing 100 or fewer checks per month.  In aggregate they deposit 4.5 billion checks per year.  As the top entries in the table below show, many desirable customers don’t deposit a large number of checks.  In certain industries, checks per employee are low and the amount of the check is relatively large.  To get to 100 checks per month these SHBs require a fair number of employees and a fair amount of check revenue. 

Size to Have 100 Checks Per Month
Industry                                                      

Real Estate                                                  
Engineering, Legal & Management Services
Health Services                                               
Manufacturing                                               
Agriculture, Mining & Construction           
Transportation                                                 
Wholesale Trade                                               
Business Services                                          
Insurance                                                           
Printing and Publishing                                   
Other Services                                                
Communications                                           

Employees

25                   
18                         19                                         
16                                                 
10     
5
4          
3                         
2                    
2                                        
1                                                      
1                        
Revenue in Millions

$4.0
$1.6
$1.5
$4.5
$1.9
$0.4
$3.2
$0.1
$1.3
$0.4
$0.1
$0.2



RESEARCH

March 2011
Small and Home Busines Check Deposit Practices 2010-11 Survey Results


October 2007
Small Business RDC Survey Results


ARTICLES


2013

2012
Some Small and Home Businesses Willing to Pay Large Premium for RDC

Small and Home Businesses Are Not All the Same – An RDC View


2011
Lighthouse Consulting Group, LLC Granted Patent for CheckFaxRDC Application

2010 Survey of Small and Home Business Check Deposit Practices Now Closed

2010
LCG Sets Up LinkedIn Small and Home Business Depositor Group

CheckFaxRDC Compared to Other Remote Deposit Capture Solutions

2009
Looking Beyond the Averages When Offering RDC to Small and Home Businesses


2008
Oil Prices, Credit Crises - Alternate Routes to Remote Deposit Capture Growth


What will the role of branches be in 2015?

Remote Deposit Capture Creates Market Segmentation Opportunities


2006
Fax Machines - Check Scanners
Small Business Already Have


2005
Small Business - A Remote Capture Opportunity

Remote Check Image Capture -  Business Case Behind the Marketing Opportunity

2004
Check 21 a Marketing Opportunity!


2003
Check 21 Act Passes Congress - Opportunities and Concerns


When Will Banks Get On

Board for Check Imaging?


Customer Relationship Management - Why Expectations Go Unmet


Recover from a Disaster or Risk Customer Attrition


Internet Attacks May Be the Least of Your Worries!

Losing the Paper Chase


2002
Fewer Checks to Be Written and Even Fewer to Be Posted

Depositing Checks from Your Office
Copyright 2002-2011, Lighthouse Consulting Group, LLC. All rights reserved.