Having worked for a supplier previously in our industry sector I knew that we needed to make collections via Direct Debit a priority as chasing clients for small and constantly variable invoice values or in some cases large values would have made running our organisation a great deal more difficult. Direct Debit allows us the freedom to use FastPay as almost our ‘Credit Control’ Department in the sense that they collect the money in our name on our behalf. The very few that run in to problems are then very quickly highlighted and we can deal with a small number, but without the facility provided by FastPay we’d have to chase many invoices which would mean we can’t get on with building future sales which is the only way our business will grow.
Because our invoices can be monthly or quarterly and of varying amounts on each occasion plus the need for annual increases in charges it was clear that the restrictions on other methods like Standing Orders
Standing Orders (which you rely on a client to implement) made those alternatives a non-starter. With FastPay we have the control.
The fact that we raise invoices to our clients and simply add them to a very simple spread sheet that we send on to FastPay and the money appears in our account a few days later is an absolute joy and a damn site cheaper than using factoring companies or employing an internal credit controller. For the few that refuse to join the Direct Debit scheme we’d have to say are a real pain as we end up chasing debt that is many months old! The constant waiting for a cheque to appear through the letterbox day after day means we’re simply not controlling our cash flow effectively. No such problems with the FastPay Direct Debit collections!
Having used them for some considerable time now, we just couldn’t or wouldn’t want to live without their very simple and highly effective collection system.
The many hours, days and weeks their collection service has saved us has come for a very small price. We have and will continue to recommend this service to any organisation that needs to collect money from their clients. It only remains for us to add what a great job they do on our behalf – Thank You.