The benefits of using debit orders to collect funds from debtors
Using debit order collections to proactively fetch funds from your debtors obviously holds many benefits over waiting for them to get around to paying you.
Lets look into some of the benefits of using debit orders to collect funds:
Increase Cash Flow
When you control when you debit your debtors bank accounts you gain control over your cash flow. Why wait on your debtors to make payment when they feel like it. Get paid when payment is due and achieve more with your business.
Eliminate Cash Risk
Receiving cash is risky. Moving cash around and handling cash is expensive. Debit orders eliminate the need to deal with cash as all debit order processes take place electronically.
Debit orders are a more cost effective solution than any traditional means of collecting and making payment. You and your debtors save. Cash and cheques are expensive and unreliable. Credit card transactions are plagued with fraud and expensive merchant fees. Switch to a debit order solution and enjoy the benefits of easier and more cost effective payments.
Better Budget Planning
When using a debit order service you initiate the instruction to debit your debtors bank account. You know when you will receive the funds debited with complete certainty and can therefore budget and plan your expenses better. Debit order places you in control.
Automate Debtors Process
The flexibility of the debit order system allows for easy automation of the entire debtors process. Request payment, reconcile and take action.
You can choose to integrate the debit order service with your existing software or accounting solution or make use of our payment system and billing system.
It’s clear that the use of a debit order solution holds many benefits over traditional and more costly means of being paid. Get in the driving seat today and steer your business to success with our debit order solutions.
