Yfi Direct Debit Services

Improve Cashflow, Plus Save Time and Money

Direct Debit Services

 

Parts Payment provides a simple and easy way to collect payments from your trade customers via Direct Debit.  For most Franchised Dealers and Parts Distributors, collecting payment from trade customers is both time consuming and expensive.

With Direct Debit you collect the payment on the terms you’ve given to the customer.  Sending statements and chasing by phone for payment will become a thing of the past.

Getting Direct Debit status from the bank is hard work and expensive when you’re only transacting a relatively small number of times a month.  The Parts Payment software aggregates the collections from businesses, so it’s cost effective.  Our bespoke motor trade platform makes it easy for trade customers to sign up to pay this way.

 

Benefits for your business

  • Reduce debt – having your customers pay by Direct Debit greatly reduces the amount of debt sitting within your accounts.
  • Improved cash flow – know exactly when cleared funds will be available in your bank and speed up payment.
  • Save time and money – your accounts department will spend less time mailing reminders and chasing errant payers.
  • Streamline banking – online reporting provides details of all payments received and any which did not go through along with the reason, making reconciliation far easier.
  • Security – with the Direct Debit guarantee there’s protection for you and your customer.
  • Easy reporting – easily report on those customers who have paid what is due on time, along with those who have had failed payments.

Saving on costs and time

Having your account customers pay by Direct Debit will not only save your accounts team time on chasing late payments, account reconciliation and banking cheques, but it also will also save your business money.

Benefits for your customer

  • Peace of mind – your customers have peace of mind that bills are automatically paid and paid on time.
  • Convenience – saves the customer time as they no longer need to run manual BACS payments or write and post cheques.
  • Customers trust Direct Debit – with the Direct Debit guarantee, your customers are protected. The guarantee reduces the risk of fraud.
  • Paperless – no need to rely on paper statements / invoices being received in the post. Copy invoices and statements will be held on the system, enabling your customer easy access to all documentation.
  • Easy reporting – clear visibility of all payments due to be taken and when, enabling the customer to manage their payments to you more easily.

For more information about Direct Debit services

call 0345 620 2664 or send an email