- How cloud-based technology is changing the Direct Debit landscape?
- How expert Direct Debit Management Solution can help boost Cash Flow?
AccessPay CEO Ali Moiyed puts forward the case for Direct Debit Management Suites being an innovative and user-friendly way for businesses to save time and money by automating payment collections.
According to BACS, the important role of automated payments is that they are prompt and can help maintain a smooth cash flow, which is good for businesses and the whole supply chain involved. A growing number of businesses seem to be getting the message, as the past decade has seen a significant growth in direct debits being used for a whole range of payment collections, from utility bills to luxury goods.
With recent advances in technology, the Direct Debit system has taken a huge step forward into the world of managing the entire payment needs and requirements of businesses. In other words, it is moving from consumer level to industry level - becoming a complete management suite. Watch a short video on Direct Debit Management http://www.accesspay.com/directdebit.html
Mike Hutchinson from BACS was recently quoted by TechRadar as saying that many SMEs spend a lot of time chasing up payments - time which they could be spending on growing their businesses. He emphasised that maintaining a healthy cash flow is the lifeblood of any successful business, so they should make as many regular payments automated as possible.
Many small businesses are innovative and forward-thinking, and can often be found at the cutting edge of technology, using and benefitting from mobile capability to make their businesses as agile as possible. For these firms, signing up to the old style of traditional Direct Debit systems is likely to be a source of significant frustration, particularly when they realise they do not have 100% visibility of their payment information, and that payments have to be approved through a convoluted and time-consuming process.
Ali Moiyed, founder of AccessPay, agrees that late payment stifles growth for many small businesses. In his dealings with corporate companies, spanning various industrial sectors, he found them facing issues with cash flow, where the problem of irregular and inefficient payments cropped up repeatedly.
AccessPay's Direct Debit Management Suite provides complete management of Direct Debit payments and transactions for businesses, while offering user-friendly and intelligent reporting.
Ali reckons, "Businesses have everything to gain and nothing to lose. Our web-based Direct Debit Management Suite offers real-time reporting, a better view of cash flow and automated payments that can be controlled from anywhere. We charge on a pay-as-you-go basis, which customers are free to walk away from. So, there really is nothing to stop businesses using this technology to boost growth."