Direct Debit - Good for Business, Great for Customers

AccessPay’s Direct Debits can be the answer to most of the problems that businesses face with collecting payments from customers, giving them huge competitive advantages. Late or missed payments can seriously damage a business. They can reduce cash flow, take time and to resolve, and make a poor impression on valued customers. Because of this, Direct Debits are becoming increasingly popular with businesses of every size; from small companies that only need to process a few Direct Debit collections, to international organisations that regularly handle vast numbers of domestic and cross-border transactions.

Direct Debit For Business Here are some of the benefits that automated Direct Debits can offer businesses:

Improved Cash Flow – Direct Debits boost cash flow by providing businesses with visibility of regular income, thereby improving their forecasting and planning abilities.

Customer Retention – Direct Debits have been shown to increase customer retention due to their reliability, ease of use and security guarantees.

Flexibility – Direct Debits give businesses the option of collecting variable amounts on different days.

Time Saving – The automation that good management software brings to Direct Debit collections means that businesses are able to concentrate their time and resources on revenue-generating projects.

Greater Control – An agreement to collect amounts over fixed periods will result in decreased credit control measures.

Direct Debit for Customer

Direct Debit is Easy Convenient Safe Better Channel of Communication Sending instant notification when problem occurs

Why Direct Debits?

As a result it is benefits to customers, it is now the UK’s favourite way to make payments, preferred by over half of all UK bill payers.

This popularity and increasing consumer familiarity with the scheme is further good news for businesses.

Web Based Direct Debit Management Software: The best for you!

To fully take advantage of Direct Debits, businesses should consider a web-based system that offers better online payment collection along with proactive reporting functionality that can improve the level of customer service they offer.

A good web-based Direct Debit management software should enable you to securely manage payments from anywhere in the world. Bank account numbers and sort codes can automatically be validated to reduce errors, and the system should always be updated to ensure customer processes are fully compliant.

When it comes to reconciliation, instant reporting and transaction status updates will prove invaluable and real-time reports will highlight the benefits that come from automatic validation and less manual data entry.

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