Direct Debit Contingency
Reducing the likelihood of missed collections
Even when you operate in-house Direct Debit Software and process your own collections it makes good business sense to have an established contingency plan in place with a Bacs Approved Bureau. On those occasions when you are unable to process yourself, the Bureau can step in, meaning reduced likelihood of missed or failed collections. In turn this means your cashflow is not affected, and/or services from suppliers are not affected by lack of payment.
Reliance & Risk. Don't Rely on 1 person!
Direct Debit processes that rely heavily on one or two knowledgeable individuals can be vulnerable. This can present risks for the organisation for example, what happens if ….
- the individual is taken suddenly ill or is away on holiday – or even leaves employment
- their smartcard expires, or is lost / broken?
- their smartcard reader / software or computer equipment used for processing Direct Debits breaks
The risk to an organisations financial stability, reputation and customer experience is significant if you don’t have a resilient process. With back-up contingency support from a bureau however, you can mitigate this.
Peace of Mind
You wouldn’t forget to protect your belongings with house or car insurance. Likewise, why wouldn’t you protect your business with a robust contingency back-up? A number of things can interfere with your ability to process Bacs files in a timely and efficient manner. These can include:
Software or computer failure
Forgotten passwords
Loss of / damage to smart cards
Unexpected staff absence
Delays in getting new systems up and running
Forced software upgrades or unsupported legacy systems
Inability to access premises / software (e.g. fire/power-cuts)
Changes in staff (and varying knowledge levels)
Simple Reassurance
Linking your Service User Number to a Bureau can be as simple as contacting your sponsoring bank and verbally requesting the link to be made. You can link to any number of bureau even when you are a direct submitter and send your own files to Bacs. The reward is the peace of mind that comes from knowing you have a back-up plan in place to mitigate any unforeseen consequences.
Feedback on our Contingency Service
Kersti Kukemelk, Family for Every Child ”
Kersti Kukemelk
Family for Every ChildSecure & reliable Bacs Bureau services
Contact us today for further information and a no-obligation quote