While faced with challenges of monetary flow for your business, in order to keep it running smoothly, you will require going for smart debit direct debits, which have helped me immensely in tiding over a sudden financial crisis that crop up every now and then by timely collection of payments from my customers through dependable collection services. Using their services, you will have many advantages for maintaining regular cash flow which is the most important factor to keep your business going.
Advantages over a Bank:
You can appoint your Bank for direct debit services, but by using the services of a bureau engaged in Direct Debiting, provides you with many advantages. In case of Banks, the initial time taken for installation is more than 2 months, while new payers are signed up in a matter of maximum 3 weeks. These direct debit services will provide you with an in depth advice while assisting you in completing the formalities, where as the banks do not provide such kind of services. Other advantages over the bank include automated processing, tracking debits online and customized services on managing direct debit.
Key Benefits of having direct debit services:
You will find the smart debit direct debits system having multiple benefits which include low cost, as you do not have to invest in any BACS software and the fee structure being transparent. You will find few overhead costs for managing the payment collection and saving on discounts on volume of business. This service is simple to operate and is ideal for small and medium business who will find it cost effective. Large business organizations will also find this service useful for comprehensive corporate processing of Direct Debit, while benefiting from the integrated features. Other benefits include improvement in customer satisfaction through less interaction with customers, helping you in customer retention, and a monthly activity report, notifying you of any amendments, cancellation and unpaid Direct Debit.
Some interesting facts about Direct Debit:
There are over 33 million citizens in UK using the Direct Debit system out of which 50% of the payments are related to memberships, subscriptions, insurance, donations and utilities. Paying through Direct Debit is the most popular system than by using debit and credit cards and cheques. A major percentage of bills regarding satellite and cable, council tax, mortgages, gas, TV licenses and electricity bills are paid through this system. This system operates in accordance with the rigid standards required by any payment scheme and banks.
Custom made Direct Debit services:
By availing the services of payment collection through Direct Debit agencies, you are able to select the amount of payment and date of collection, while finding it the most convenient and safe mode of monetary flow into your reserves. You also have the advantage to modify the amount and date if in case there is an amicable settlement with your customers regarding payment of monthly dues.
I have found this Direct Debit system working wonders for me as I do not have to bother about interacting with customers, while at the same time is assured of a regular monthly flow of money.