You don't have to pay big money or take big risks to reap some check imaging rewards right now. While a fully operational Check 21 world, complete with smooth image exchange, is a ways off, taking steps toward that eventuality now will put you on track for success in 2005 and beyond. Here's how to get started.

1. Review Your Internal Processes
You can gain the benefit of reduced costs while also preparing for Check 21 by just investing within your bank, rather than implementing Check 21 right upfront, counsels Tim Sloane, director of Mercator Advisory Group's Debit Advisory Service. But before making any decisions, "come up with an enterprise strategy," advises Steve Hill, director of business development, global payments consulting for Carreker Corp. headquartered in Dallas. That means taking a look at your bank's current processes and noting how many of those are already image-enabled.

2. Understand Implementation Stages
Many banks have already entered the initial imaging phase by presenting check images to their customers, but you can gain further efficiency by implementing this technology for all of your internal processes, Sloane asserts. Typically the systems in place for "Day Two" processing, such as returns and adjustments, are hands-on tasks, so there is "a significant added advantage to being able to do that over imaging as well," he explains.

If you've taken both steps toward implementing internal check imaging, the final stage is moving over to an imaging network. Before you make that leap, assess how much your bank will benefit from accepting check images from other banks, suggests Sloane.

Editor's Note: For more steps to imaging success -- including making budget savvy technology decisions -- see the latest issue of Bank Security & Technology Alert.