The benefits of Direct Debit are slowly gaining recognition and many organisations are becoming curious on how they could maximise the use of Direct Debit. For those who are hearing the phrase or words Direct Debit, it is basically a process where you allow automatic charging from your account for the payment of bills or services. In the UK, Direct Debit is a widely accepted financial process not only because of the guarantee and security that it provides, but also of the huge convenience it provides.
Scrutinising Direct Debit
For your organisation to begin Direct Debiting, you have two options:
1. Install Direct Debit Software – Direct Debit software is available for you to purchase and install yourself. However, there are some drawbacks if you will use the software only for your personal purposes and would not integrate it with your business. Among these drawbacks is the software and the processing involved would prove to be costly. On top of that it will also take up a lot of resources. If you do not have any idea on how to create security features in a software that would also become a very big problem as you know you need to keep the software secure due to the financial nature of the said application. Finally, you have to make sure that your software is Bacs certified by following the strictest standard in using direct debit software.
2. Outsource to a Direct Debit Bureau – a Direct Debit Bureau is a third party organisation that you can take care of all the Direct Debit processes. By using a Direct Debit bureau you will be able to save on a time, cost and administration. You will be able to save time because the Bureau will handle all of the administrative processes involved with Direct Debit. You will also save on cost as you do not need to purchase any software, the Direct Debit bureau already have the software in place, which enables them to offer Direct Debits services.
Why Rely on a Direct Debit Bureau