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How to Set Up Bacs Direct Debit for Your Business Profitably

Collecting payments via Bacs Direct Debit represents a major advancement over manual collection methods, with the time and resources associated with making calls, drafting and mailing letters, minimised.

With the right details and processes for Direct Debit collection in place, funds are guaranteed to arrive on the agreed day automatically, and debtors’ days are reduced.

By implementing paperless Direct Debit collection, businesses can benefit from:

  • Increased control over their finances with the certainty of getting paid on time
  • Better visibility of cash and forecasting
  • Reduced reliance on spreadsheets and manual administration overheads.

Download our industry best practice practical brief Getting Direct Debit on your side to find out how the get the most from your paperless Bacs Direct Debit collection with Bottomline PT-X.

On average, 10% of new Direct Debit Instructions fail due to inaccurate or bogus data being submitted through Bacs. For some organisations, the failure rate is as high as 20%.

(Source: KPMG Report)

Cash is the lifeblood of any organisation. Whether you need to pay or collect, there’s an easy way to do both with PT-X.

Continuing Content

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How to Prevent Bacs Direct Debit Collection Failures

Stop wasting time dealing with indemnity claims and failed Bacs Direct Debit collections. Take the next step in becoming an AR hero and be on your way to collecting Direct Debits as easy as it was intended to be.

eBook

Automated Invoicing: Improve Cash Collection, Reduce Aged Debt

Cash Wars: Improve Cash Collection by reducing aged debt and DSO to help you assess your current collection processes, and win the fight against aged debt!

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