Concept Vehicle Leasing are a multi-award winning vehicle leasing and fleet management provider, based in Surrey and operating on a UK Nationwide basis. We provide our services to a diverse portfolio of clients ranging from large corporate customers. Small and medium size businesses and also consumers. Some of our services require regular monthly or frequent billing, such as our business daily car and van rental service, and our fixed cost vehicle maintenance provision. We’re pleased to provide service to hundreds of satisfied customers, for whom we provide a single monthly consolidated invoice.
It’s absolutely vital that we’re able to collect payment from our customers on time each and every month in order to manage our credit risk exposure and to ensure we can provide service continuity to our clients with minimal hassle.
Direct Debit enables us to collect payment of our regular and monthly invoices quickly, securely and without any time or effort on behalf of our client. This robust collection method enables us to effectively manage customer credit and keeps the time and effort involved in payment collection to a minimum, enabling us to provide the best possible pricing to our customers.
We found the implementation process for enabling Direct Debit collections with FastPay to be very simple and hassle free. FastPay have streamline procedures in place to ensure the implementation process is smooth, and the knowledgeable and professional team at FastPay meant that the whole process was practically effortless. We had originally investigated establishing the facility to collect Direct Debits through our bank, but found that FastPay’s process was much less onerous and meant that we could be up and running with Direct Debit collection more efficiently.
Concept Vehicle Leasing have found that using Direct Debit is a perfect solution if your business needs to collect regular small amounts from customers with minimal fuss and inconvenience. We honestly couldn’t collect our customer payments in any other way – it would be simply too time consuming and would tie up valuable resources which can otherwise be focussed on growing our business. We would not hesitate to recommend Direct Debit and collection using FastPay to our friends and business associates.
As a telecoms provider it is essential to have a Direct Debiting facility to be able to invoice multiple customers varying sums on a monthly basis. Without it, chasing payment would involve costly resource and negatively impact on our cash flow. Having never required this facility before, when I set up the bank account for UK Telecom Solutions in January of 2012, I wrongly assumed the bank would provide it. However when I met with the bank manager he explained the risks involved and that banks never offer this facility to new businesses.
I contacted FastPay on the recommendation of one of our suppliers. I was expecting a painful, complicated process, but was very pleased to be proved wrong!
The set up was fast and the process was very straightforward. They provided me with simple to follow instructions that covered everything I needed to know. I send over one spread sheet each month with the information they require and the rest happens like clockwork. In the two years I have used FastPay they have never made a mistake and all charges have been exactly as they promised.
FastPay has enabled UK Telecom Solutions to offer a professional Direct Debiting service to our customers. Their attention to detail and professionalism has helped us concentrate on our core business and build a successful company.
I regularly hear other business owners talking about the problems they are having as a result of people not paying on time and I never hesitate in recommending FastPay as the way to eliminate these issues.
Wigan St Patricks Amateur Rugby League Club has over 20 teams making up the player base of its club from Under 7’s to Open Age, the traditional method of collecting membership fees was by using our Team Managers, a volunteer who forms the link between the coaches and players and the Management Committee. Despite the best efforts of our fabulous volunteers we realised that not everyone was paying membership fees resulting in a loss of important revenue and it was complicated for the Team Managers to manage.
To alleviate the situation, ensure regular cash flow and also in response to our members requests for a pay monthly Direct Debit scheme, we began to look at what easy to implement and manage systems were out there.
In effect FastPay ticked all the boxes, they were more than helpful in the beginning and were on hand every step of the way to assist us with the process of getting members signed up to the scheme.
It has certainly helped us as an amateur sports club in ensuring that our membership income is paid and its really easy to follow up should a payment fail! All I need to do is pick up the phone and they are ready to help.
With more than 100 of our members now using the scheme and more signing up each month! we would recommend it to anyone in the world of amateur sport, with the submission of a monthly spreadsheet, my work is done!! Additional payees are really easy to set up too!!
FastPay are highly recommended by Wigan St Patricks ARLFC as a Direct Debit provider.
Prior to FastPay our customers paid us when they remembered or wanted to. We spent an inordinate amount of time sending reminders, and watching our bank account. Some would pay immediately but it soon became clear that there were some late payers and some never payers, some paid by internet, some by cheque in the post. It was impossible to plan or budget as we really never knew what monies were available to us. We knew we needed direct debit and we approached our bank but we were too new and too small. And yet we needed the stability. We found FastPay through Google and we have never looked back.
Our existing clients were happy to change to direct debit, some of them asked why we hadn’t done it before! All our new customers are signed up to direct debit automatically.
I can’t believe how much it transformed my working day. I rarely need to chase payments now. I know what date monies will enter our account, and I can budget effectively. I can spend my time and energies more effectively too, keeping customers and staff happy.
I can’t imagine how we would manage any other way, I strongly recommend FastPay, you know when you will get paid and how much, it just takes away all the stress.
We decided to explore the feasibility of offering a Direct Debit facility for our members due to the tough economic times and our support of those businesses who invest in our support. The ability to spread costs for our members is important and therefore Direct Debit seemed like a sensible solution. Unfortunately the service offered by our bank was complicated to implement, costly and confusing. Subsequently we carefully researched alternatives within the market and came across FastPay.
We found FastPay to be a far better solution for our business and the members we serve. A cost efficient solution allowing our members to spread the cost of membership, the sign-up process was simple and very straight forward.
The administrative process required to collect Direct Debits is incredibly easy and FastPay’s reporting and processing has always been seamless and efficient.
Offering a Direct Debit facility to our members has proven to be an important ingredient to our success and one we will continue. FastPay have never let us down and therefore we would have absolutely no hesitation in recommending them to potential clients.
Mardon have been in the business for nearly 10 years and started as a small family business. We found that many of our customers needed our recycling equipment to progress their business but were unable to afford an outright purchase, so we decided to rent them out on a monthly basis.
As time went by, our customer base grew and the company evolved, payments became increasingly difficult to track down and keep up to date, and it became apparent that we would need a separate rental company. After discussions we also decided that payment by direct debit would form part of our terms and conditions, as we wanted to overcome the increasing customer debt, and reduce time spend chasing for payment.
We found our own bank most unhelpful, but then we discovered fastpay. Fast Pay helped and advised us every step of the way, and even supplied direct debit mandates with our company logo. The charges were very reasonable, and the procedures fairly straight forward the staff were very helpful and responded very quickly when I was uncertain of anything at the outset. In fact, we were so delighted with the straight forward service that we decided to use the service for our original company, and so set up two fastpay accounts.
We have never looked back and feel strongly that our decision to offer payment by direct debit was the right one, a good 90% of our rental invoices are paid regularly and within the 30 days credit limit, and new customers with no trading history even pay monthly in advance. We are very pleased to be associated with FastPay, and look forward to a long and successful association with them.
I would not hesitate to recommend FastPay to service payments by direct debit from your customers
Well Done Guys!!
Every month our aged debtors sheet looked disastrous. All wonderful clients, we enjoyed working with them, they enjoyed working with us, but when it came to paying, it was seriously threatening to rock the boat. The reasons for late payment were fantastic, we have heard them all, but as we were working with sole traders, mostly it was down to forgetfulness or a holiday looming on their part.
As they were such small organisations, we also felt their behaviour was hindering THEIR cash flow as much as ours and therefore we had to find an alternative route for payments.
The cost for managing Direct Debit ourselves was not practical and then we Googled on Fast Pay. The support from Todros and Henry has been first class.
After one year, we have the process down to a fine art. Very little communication is required with Fast Pay; I send a file, they confirm the details, they collect the money, they pay us and naturally they send us a small invoice paid by direct debit of course. This invoice is considerably less than the amount of time we were spending on chasing money.
The key advantage however is that is enables us to deal with our clients about the work we do rather than discussing money and this massively improves the business relationship.
I own a small to medium size Waste Management Business and with cash flow being of upmost importance decided to offer my clients the opportunity to pay by Direct Debit allowing seamless hassle free invoice payments for my clients and more importantly the peace of mind for me knowing when money is coming in, it allows me to honour wage bills and other costs at specific times of the month to ensure that my business operates correctly and reduces my cash flow risk.
Choosing Fast Pay has proven to be a fantastic decision and although I was initially worried about how to set this up Fast Pay make everything clear and are always at hand to guide you through the process.
I send my submissions through twice a month in the form of 2 spreadsheets, these take me no longer than 10 minutes to create and send.. Mainly a copy and paste exercise together with a few figure changes, it really is as simple as that.
Their response times are great.
I now strongly recommend that all of my new clients pay by Direct Debit, you can’t beat guaranteed payments and for the money Fast Pay charge its worth every penny for my business.
Finally I would have no hesitation in recommending Fast Pay to anyone who’s thinking of using them.
Before we introduced a Direct Debit scheme to our recurring service customers, customers were paying by Standing Order, BACS, cheque or online bank transfer. Very often we would have to chase payment for small invoices which was both costly and time consuming. We wanted to automate our recurring income, choose our payment dates and generally make the procedure easier for both our customers and our business. FastPay has helped us to move towards this.
We found FastPay easy to set up, we had plenty of guidance from their staff and once put in place, straightforward to follow as and when submissions need to be processed or new customers need to be added.
FastPay has proved to be the solution we hoped for and we would definitely recommend it to other businesses such as ours.
We decided to try to improve cash flow and remove as much of the administration work as possible from our accounts department as it was becoming quite tiresome for them chasing up invoices that hadn’t been paid on time. FastPay was very easy to set up and met very little resistance from our existing client base.
Engaging FastPay has provided 3 distinct benefits:
- Less time spent chasing invoices for payment
- Improved cash flow
- We have also found a new client’s lack of willingness to go onto direct debit a fairly reliable indicator of lack of cash flow or credit worthiness
Many of those that refuse to go onto direct debit often fail to pay on time manually and a high percentage, compared to those happy to go onto direct debit, end up being terminated and debt collected for non-payment.
I would recommend FastPay as an excellent service to boost cash flow, cut down on admin and streamline the collection of client revenues.