When it comes to collection of payments, it can be a time consuming and a difficult task because not all the customers would be prompt with their payments. They might have their own reasons for delay but a hiccup in cash flow can cause a lot of disturbances in the regular working of the company. Depending on expensive options like credit card, among others can cause an increase in lot of monthly expenditures because it includes the expenses of setting up of merchant bank account, paying a certain portion of every transaction, and the like. All these would just add to the expenses. Instead a method called as Direct Debit has been introduced to facilitate maximum gains in receiving payments by paying minimum transactional fee. Direct Debit is a service offered by SmartDebit wherein the different processes are advantageous to small and medium scale businesses.
By availing the services of SmartDebit, companies would be able to improve their cash flow and also control them. Bill payments would be received on time and you will exactly know the amount that can be expected every month. These continuous cash flows are important for small and medium enterprises because the sources are limited in these organisations. To start with, you can be benefitted with using paperless direct debit services, and encourage your customers for paperless sign up on the website of your organisation. The set-up of this system is very easy and even understanding it is simple, so none of your personnel would have any issues in adopting the system.
Today more than 5 billion transactions take place every year in the UK with direct debiting, and the number of people using this method is going to increase even more in the near future, thanks to the positive results of using this method. Every recurring payment like phone bills, insurance premium, memberships, and subscriptions can be paid through SmartDebit on the decided date and within the decided amount. The general public find using these services easy and convenient without being worried about making payments.
The overall control of cash-flow improves with SmartDebit. All your payment worries get reduced from the implementation of this method. Payers would also be satisfied with the overall service offered since it is not just the receiver but even the payer would receive information about the transfer of money. You can start using the services by simply demanding for it online and get the quote easily at the convenience of your desktop.
SmartDebit and SMEs (Small and Medium Enterprises)