When it comes to collecting recurring revenues, the ability to use Direct Debit is hugely beneficial to maintaining and controlling positive cash flow. The Direct Debit scheme allows authorised companies to collect money from their customers’ bank accounts on a set day, thereby enabling resellers to have a much tighter control on their debtors.
Once Direct Debits instructions have been set up managing them is relatively easy. The benefits of being able to collect Direct Debits, such as reduced debtor days, reduced bad debt and better cash flow, far outweigh the challenge to set them up.
Unfortunately setting up a Direct Debit facility can be extremely confusing and problematic to many, often with even the Business Relationship Manager from your high street bank not having a clear understanding of how the scheme works. This whitepaper aims to help resellers get to grips with the process, achieve the best chance of getting an application accepted and as smooth a set up as possible.
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