Direct debit can be attained with in-house or outsourcing services. In-house services are not easy to be installed in the working of the organisation. It is high on costs and can be difficult in adopting as well. Direct Debit Management Service by providers like Smart Debit is one of the best and recommended solutions for large as well as small companies. It is possible that large companies meet all the terms of the banks which might be stringent, but organisations like Smart Debit believe in providing best services to all the kinds of companies be it small, medium or large.
Investment is very low when outsourced with Direct Debit Management Service. Training will be in keeping with high standards even if most of the work will be handled by the service provider. No installation of new software is needed when outsourcing is done because the system is established with a link to the service provider. Once the link is established, the company can invite its clients to join the network by signing up and enter into paperless exchange of money. This will reduce the efforts made by both the parties in making as well as receiving payments on time because after the customer signs up for the contract, automatically the funds will be transferred from the payer's account to the payee's account.
Direct Debit Management Service should be flexible enough to give customers the option of switching to another date for payment in case of emergencies or lack of funds. This option of flexibility would encourage the customers to sign-up for the system, and assure that in the time of emergencies there would be acceptance of another date for receiving the payment. Be it paperless or on paper, signing up customers through outsourcing is much easier and flexible.
All the rights of the customers are protected by the Direct Debit Management Service provider. This is so that the payees cannot misuse the access to the account of the payers. Complete data is summarised relating to the transactions and shared with the clients in order to get total information about the transactions that the service provider is performing during the month. Information regarding breach from the end of the payer is informed immediately to the client in order to let them know that their bank account will lag in certain amount of money than they have been expecting. The fees charged by the service provider will be very low and will not change depending on the size or number of transactions.
Direct Debit Management Service- Flexibility Plays Key Role