What Are the Benefits of Direct Debit Management Services?

From the outside, a Direct Debit Management Service for businesses could look like it’s just for collecting customer payments. But if you delve into the opportunities a DDMS creates, you see there are a host of possibilities that Direct Debit services open up for companies and clients. 

In fact, Direct Debit Management Services can help to transform your business operations, from removing the endless office paperwork to helping cashflow become more consistent. 

As a comprehensive automated system, Direct Debit services help take regular payments from customers and streamline business operations so that teams can focus on important strategic and goal-oriented workflows. 

Recent surveys of senior finance professionals across the UK and Europe reveal that human error is the most common challenge in financial management, with 29% of respondents at companies of all sizes saying this is an ongoing issue. 

Working with a Direct Debit system minimises the rate of human error in payment processing, supporting a more robust and resilient payment system working for your business and customers. 

Contents

• What are Direct Debit Management Services?
• What are the features of the Interbacs DDMS?
• 4 key business benefits of Direct Debit Management Services.
• How Interbacs Direct Debit Services help your customers. 
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What are Direct Debit Management Services?

With a Direct Debit Management System (DDMS), you can facilitate, manage and analyse all of your customers’ Direct Debit payments through one simple system. As a result, you can ensure that your customers understand how much they are paying and when the payments are due. 

Additionally, this helps you manage customer expectations and reduces the pressure on customer service teams, freeing employees to target more specific goals and scale your business in line with company targets. 

Many Direct Debit Management Systems provide built in automation that allows you to collect payments multiple times from one set up. You should also have access to regular straightforward reporting, helping you to make better decisions for your business. The ability to validate customer data supports you in easily creating and amending payment plans.

Behind the simple processing lies advanced technology which allows you to fully automate your entire end-to-end payment system and set up agile payment plans that are optimal for you and your customers. 

Most companies prefer a Direct Debit Management Service that allows you to edit, cancel and create new Direct Debits to align with your business needs. Flexibility on this level empowers you to be nimble and personalise payment plans for your customers which helps you deliver solutions that suit changing consumer demands. 

What are the Features of the Interbacs DDMS?

A major benefit of the Direct Debit Management Service with Interbacs is that it provides highly configurable assets which you can harness to suit your business aims. This DDMS can deliver the following beneficial features:

• - Automated email facilities that eliminate manual customer communications.
• - Intelligent software that signals any payment date changes with an advanced notice. 
• - The Interbacs DDMS enables you to import and action common DDMS reports, including ADDACS, ARUDD, AUDDIS and DDICs.
• - All bank account data is validated and passes BACS rules to maintain your eligibility to receive Direct Debits.
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4 Key Benefits of Direct Debit Management Services

• - Increased accuracy

A comprehensive DDMS should help you to manage your Direct Debits more accurately. Automation helps to minimise error and reduce time spent on correcting mistakes. 

• - Tailored packages

An expert provider of Direct Debit Management Services will have the specialist knowledge to customise your Direct Debit solution so that your specific customer segments and business requirements are fully covered. 

Aligned with this process, Interbacs offers Direct Debit Management Software in three tiered packages. You can benefit from the standard DDMS, InterPay DDMS or InterPay Web DDMS, whichever automatic payment solution suits your business operations. 

• - Monitored performance

Automation of Direct Debit services delivers a multitude of advantages, including access to direct reporting. Providers, such as Interbacs, can create timely and accurate Direct Debit collections which are accompanied with incisive management reports for performance tracking and targeted goals. 

• - Improved engagement

Partnering with experienced Direct Debit Management Services can enhance customer experiences through altered payment date notices with email functionalities to support greater customer understanding of the payment process. 

How Interbacs Direct Debit Services Help Your Customers

Every business wants happy customers who find setting up payment plans easy and stress free. With DDMS from Interbacs, your customers feel they have one less thing to worry about as once the Direct Debit Mandate is set up, they don’t have to spend time constantly organising payments. 

Alongside reduced stress and convenience, customers will also enjoy security and peace of mind as Interbacs is a BACS accredited Facilities Management provider which equals a user-friendly service for your business and customers. 

If it’s time for your business to streamline payment solutions, visit our solution finder to discover the right payment solutions to match your goals with helpful advice to get you up and running in no time.