The majority of modern companies are using some form of debit order service these days. Not only is such a service quick and easy for a client to use but it is also a surefire way for a company to get their payments without having to post invoices or send out hundreds of emails, and make numerous phone calls every month.
Encouraging clients to sign up for a debit order service is a must, and this is why:
- No more waiting
The uncertainty that often surrounds payments when the debt collection time of the month rolls around is completely removed so there is plenty of peace of mind to gain from having a debit order service in place. Payments will go through automatically and even if a client doesn’t have funds in their account when the funds do become available the order will go off regardless of the time of the month.
- More financial control
When you have debit orders going off, you are certainly going to find that you have a better idea about how much money you are going to have from one month to the next. You will have better control over your cash flow and you will be able to create more accurate budgets. Knowing how much money you can expect means that you can plan for those bigger expenses.
- Money saving
Both for the debtor and for the business, there is the added advantage of saving money every month. Paying via debit order removes some of the additional costs that are related to making the transaction using other methods such as credit card payments. And the debit order service is not just a money saver, it is also a time saver for both parties involved. Debtors don’t have to make time to go to their bank or make time to visit to your company, while you won’t have to waste time making calls and sending emails.
- Remove cash from the equation
Carrying cash, and receiving cash, carries very high risks. Debit orders are the safer option to go with as it completely eliminates the possibility of cash being stolen or lost. This is also great for your clients as they will not have to draw large amounts of cash, inevitably putting themselves at risk. Taking away the risk of cash being stolen will set your mind at ease as well as make your clients feel safer.
- The process is automated
Once the client has signed up for a debit order, you are likely to never again have to look at the system. Everything is automated and works like a smooth machine. On the date that has been specified, the payment will automatically go off and the money will almost instantly reflect in your bank account. With an automated system, there is minimal stress and minimal work involved in collecting the money owed to you.
These are just 5 benefits, there is so much more to your debit order service than just this. Here are the other ways that you can benefit:
– Clients will not have to make a deposit before they begin using your debit order system. This means that there is no setup fee.
– As a company, you will be assisted by the team setting up your debit collection system, and you will be given all of the information you need to make your system a success.
– You can provide a more personalised service, letting clients make payments on the day that suits them best.
– The entire system is 100% secure, both for the paying client as well as for your business. No confidential information or banking details will be made available to anyone.
– As the company offering a debit collection service, you will be able to keep a close eye on the money coming in and should someone miss a payment you will be able to follow it up swiftly.
With a debit order collection service from MyGate, you can simplify the way that you do your payment collections. By offering this service to your clients you will not only be benefitting your clients by reducing the stress of making sure payments are done on time but you will also be benefiting your company.
Contact MyGate today to set up a reliable payment system.
Guest Blog by Louis Schoeman from SEOPros