Direct Debit management can be a time-consuming manual process, taking up valuable staff time and even high costs when something goes wrong. Failed Direct Debit collections caused by incorrect payer details can significantly impact your business' cash flow.
As an enterprise solution, Direct Debit management is ideal for banks, corporations, and larger public sector organisations that need international and multi-role payment and collections management. Smaller organisations benefit from a complete end-to-end platform supporting multiple locations, users, and payment and collections methods. Bottomline's bank account validation and verification solution helps minimise errors, reduce fraud, and decrease costs. It also enables easy collection of Direct Debits on-time and in full compliance with Bacs scheme rules and best practice.
- Collect money quickly, accurately, and cost-effectively
- Offer customers a paperless alternative to cheques, standing orders, cash, and cards
- Fully automate the Direct Debit process and cut out unnecessary administration
- Minimise processing errors and rejected payments
- Improve cash flow visibility and working capital
- Ensure full compliance with the Bacs scheme rules
- Validates bank account details at point of submission
- Creates payment schedules: calculates amounts, frequencies, bank holidays, and more
- Generates payer correspondence
- Complies with the latest Bacs regulations
- Generates reports and comprehensive audit trails of transactions and users’ actions
- Reconciles Bacs reports
- Assigns Bacs compliant transaction codes and manages re-presentations
The football club wanted something that was easy to install and easy to use. The club was impressed by how easily the software would fit with its internal processes and how easy it was to use. In addition, it realised that the software could accommodate future growth.
Tracy Piper, Sales Ledger Supervisor and Credit Controller, Aston Villa Football Club