If you are the owner or manager of a business who is struggling with the admin side of things, then you might want to take a look at direct debit systems. Direct debit systems is a great way of reducing your cash flow stress, workload and time spent on tedious tasks that you would rather not be doing.
What do the best direct debit systems have?
The best direct debit systems will be designed to make things more convenient for both parties (owners/managers and customers). Here are the various ways that direct debit systems can do this:
Every day billing
Direct debit systems bill your customers on a specific day regularly. However, the best direct debit systems will do so on a day of your choosing. Choose a billing software that will cater to your needs so that it is easy for you to fit into your business model. After all, they are your customers that they are debiting and so it should be done on the day that is easiest for you.
Accept all payment types
Flexibility and convenience should extend to all areas of direct debit systems. This means that an excellent one will accept all payment types. It shouldn’t matter to the system whether they are collecting recurring payments from your customer or member from their bank account, building society, or credit card. The main thing is that you get the income that you are owed.
Accept online payments
It is important to keep up with the times, especially with direct debit systems. Online payments are quickly becoming a very popular payment method and so direct debit systems should cater to that. Whether your direct debit system accepts online payments is a great method of knowing if they are using every payment gateways possible for you to collect your recurring payments. It is a low risk and low cost alternative in collecting payments and is an option that all direct debit systems should have.
SMS & email alerts
When it comes to your cash flow, it is understandable that you would want to be updated on everything that is happening with your account. However, with your busy schedule, it will be tedious having to constantly go into your account on the off-chance that something has happened, to only find that time and time again, there is nothing important worth your time. To prevent this from happening and to ease your mind, direct debit systems should have SMS and/or email alerts to tell you when there is something important that you should look into. As a result of this function, you won’t have to continuously check your account, because the important information will be pushed to you instead.
Real time reports
Direct debit systems send our real time reports that keep track of everything that is happening with your account. It records the income that is coming in and generates various reports that allow you to have a record of your finances. You will be constantly updated with your finances and you will always know your exact financial position every single time you log into your account.
Safe and secure
Direct debit systems main priority is keeping your account and business safe from all sorts of risk and fraud. This is especially important if you collect online payments. Make sure that the direct debit billing software that you are using adheres to payment compliance practices and uses the latest technology to protect your account and maintain the security of customer data.
Direct debit systems are such a beneficial system to have to help with the running of your business. The great direct debit systems will take the hard work off your shoulders and complete for you, accurately and quickly. We may be a little biased, but we believe that Ezypay is one of the best direct debit systems out there. Not only do we have all of the features mentioned above, we also have a whole lot more to offer.
If you would like to know more about Ezypay, please don’t hesitate to contact us and one of our friendly team members will be happy to lend you a helping hand.
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