Of course, small business organizations are finding it very convenient on account of the availability of direct debit facilities through Smart Debit. There is no need for them to worry about timely payments to be received by them from their clients and the payments to be made by them on account of utility services namely; telephone expenses, water and sewerage charges, annual maintenance charges etc.
What do you mean by timely receipt of payments?
In fact during the course of selling the products and services, small business organizations are not able to realize the entire payments in cash and more than 60 percent of their payments are received on credit terms and unless effective follow up is made, the amount due from the debtors cannot be recovered and the organizations are in a position to establish an exclusive manpower administration in order to follow up, monitor and recover the amount from the entire clients. Non receipt of amount due from the debtors in time reduces the income level of the organizations and their profitability is reduced sizably.
What do you mean by timely payments?
On the same lines, the organizations are in a position to make timely payments towards various utility payments namely; telephone charges, water and sewerage charges, tax payments, annual maintenance charges, rent payable for factory and premises and many more. These payments are to be made in time in order to get uninterrupted services from the service providers.
What is the role played by direct debit?
By means of direct debit services available from Smart Debit, business organizations are in a position to receive payments due from their debtors in time. Simultaneously, they are able to effect payments in time towards all utility services. Smart Debit takes care of the entire responsibilities on their shoulders.
How payments are made through direct debit?
When it comes to payments to be received from the clients, the following details are provided by the business organizations to Smart Debit namely; details of clients, amount to be recovered, date on which the amount has to be received; the bank account from where the amount has to be recovered etc. Similarly, in regard to payments to be made by the clients the following details are made available namely; details of utility services; amount to be paid; the date on which the amount has to be paid; the periodicity of payments etc.,
What do you mean by Encryptor?
Encryptor is the process by which the plain language is converted into coded language. On account of this facility, fraudulent debts to the accounts are prohibited and the clients’ money is saved. On receipt of details received from the clients, the entire information is encrypted and the encrypted message is loaded in the software and the software takes care of the other responsibilities.
Exclusive mechanism is available in the software for sending prior intimation to all the clients from whom the amount has to be recovered so that they are able to provide sufficient funds in their accounts on the specified dates.