A convenient and safe way to process the financial transactions is important for big and huge businesses. The process of money transfer through paper made methods or manual entry has led to a lot of problems and fraudulent activities.
Therefore, To eliminate paper documents and to keep the bank transactions simple, direct debit software was introduced in 1971 which was renamed as BACS in 1985. It has become the most useful and efficient way to process bank transactions by a lot of companies. This payment system is error free and easy to implement. Many companies and businesses are making use of this payment system to execute the transactions swiftly and safely.
Types of business that can benefit with this software :
This software has been used by several business people and companies. Even the banks have implemented it into their system because the direct debit software is more than accurate. Accountants, retailers, milk agents, distributors, mortgage companies and several other types of businesses are making use of the software. The payments are conducted in various forms and several ways. For example, credit card transactions, wages and salary distribution, supplier payments, insurance and utility bills are payed with the help of this software.
The procedure :
It is a simple procedure. Once the payment details are given, then in 3 days time the transactions can be executed without any problems. The first day your details will be entered in the system, second day it will get processed and on the third day it will get cleared. Right after that you can enjoy safe methods of simple and reliable payments. A lot of businesses who have a huge work to do, can make use of this software and concentrate on the core part of the business. The direct debit software will help to carry an ample number of transactions in a single day without creating any problems.
The features included in the software are :
- Advanced notice letters
- Transaction codes or Sort codes
- API
- Web server software
- Technical support desk
- Inbuilt import and export functions
- Several users can manage different transactions in one go
- Sort code and bank account details gets validated
- User rights and security to keep their own passwords
- Select and implement a payment plan
- Designated Account manager
- Out of hour’s liaison contacts
The Direct Debit Software is a cost effective solution which meets the requirement of any business in a fair way. The user interface is friendly and easy to follow. The call center industry has been able to bring a huge change in the way they assist the customer. The procedure was simple and effective to retain the customers. Moreover, the details of the customers were safe as well.
It is ideal for those organizations who needs to merge a lot of bank related activities on a daily basis. The database allows the business to focus on core activities and eliminate the problem of fraud activities as well.