Benefits
Here we share with you the benefits of taking payments via Direct Debit and why outsourcing the management and collection process to Rapidata will benefit you and your payers.
The benefits of taking payments by Direct Debit
FOR YOU
Cost Effective – Direct Debit is cheaper than cheque and other payment methods. Reduces administration and workload and time chasing late or non-payments.
Collection – the United Kingdoms preferred method for regular payments. Ability to collect variable amounts on regular or irregular dates.
Accurate - more accurate cash flow forecasting and management.
Control – You control the date of the collection and subsequently the date cleared funds are deposited into your account.
Data – enhanced accuracy of information and reporting.
Reconciliation – It can eliminate time consuming reconciliation freeing up valuable time and resource.
Flexibility – you control the payment dates, amounts and frequency. Any changes are controlled by you so your payer is not inconvenienced by having to contact their bank.
Online – secure, quick and cost effective
Retention & loyalty -
FOR YOUR PAYERS
Spreads Costs – The ability to spread amounts monthly, quarterly, half-yearly or annually.
Safe – Under the terms of the Direct Debit Guarantee, the payer is protected in the event of a collection error and will receive a full and immediate refund from the payer’s bank.
Hassle Free – Ease of setting up a Direct Debit, amending or cancelling than any other payment method.
The benefits of using Rapidata
Reduced Costs
With no capital expenditure on hardware, software or training, Rapidata allows you to free up valuable human resource, which enables your staff to concentrate on their core activities.
Enhance Value
With constant investment in new technology we provide our clients with an established collection infrastructure giving you a trouble free & cost effective payment process.
BACS contact up to 10pm each working day
Direct link into BACS ensures all Bank amendment and cancellations are made within 24 hours. The result is accurate submissions, fewer requests for refunds and less unpaid items. As a consequence your payers receive a better service, you have fewer indemnity claims and reduces bank charges.
Increase Flexibility
Rapidata provides an all encompassing seamlessly tailored collection solution to suit your requirements.
Staff
Transfer knowledge to fully resourced provider - No longer reliant on individual members of staff who leave, become ill or on holiday. Fully trained dedicated resource removes the risk of collection problems due to staff sickness, holidays or resignations.
A Rapidata Account Manager will help with setting up all services plus advise on how to get the most out of our services.
Management Focus
Our systems enable your management to focus on core business issues and strategies that are key to a successful organisation.
BACS APPROVED
Rapidata is a BACS Approved Bureau – B20769