As a small business owner, success rests on your ability to be a king of all trades. You manage of all operational duties, and that includes your cashflow.
Streamlining the payment process as efficiently as possible is the key to removing some of that heavy burden from your chest. Thankfully, with Direct Debit you can do just that.
Controlling your business starts with controlling your bottom line. Through Direct Debit, you can reap the following benefits:
No more chasing
It can be embarrassing to nag your clients over late payments, especially when a small-town mentality comes into play and negative word of mouth is a lingering threat.
Nevertheless, 85% of small and medium-sized businesses find themselves forced to wait beyond their invoice terms for a transaction of money. Through Direct Debit, payments will be automatic and can be adjusted in line with the ebb and flow of client needs.
It’s easier to plan ahead
Payments through Direct Debit are cheaper than cash, cheque and card. Quite simply you will be paying less money to work in a decelerated fashion – it’s a completely win-win situation!
Beyond this, incoming cashflow can be measured and tracked in advance, giving you foresight in tougher times.
Decrease laborious tasks
With so much on your plate, reducing any time on administration should be a welcome thing. The majority of Direct Debit’s are paperless, saving you in storage and giving a little something back to the environment in the process.
All that’s left to do beyond the sign up is to monitor payments and adjust the amount if necessary.
So with that in mind, why waste your customer’s time muddling around with payment variations when their usage and amount is ever-changing? Direct Debit payments can be flexible, saving the faff of contacting customers and gaining permission each and every time.
Don’t worry – Direct Debit is the safest payment method in the UK and your customers are protected by the Direct Debit Guarantee.
If you think your business could benefit from the above, get in touch now on 01908 422026.