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Banking services
May 9, 2017

How can I stop waiting for payment from my customers?

All customers must pay their invoices on time, however it is important to note that many late payments still impact the cash flow of companies with the risk of putting them in danger. The use of the check or the transfer does not allow you to control your dates of collection unlike the direct debit. Whether it is one-time or recurring (subscriptions, rent, after-sales service, maintenance contracts, pensions, canteens, day care centers, home services, etc.), direct debit is a simple and fast European payment method that allows you to manage and control your collection dates. Focus on the Olkypay direct debit solution, so you don't have to wait for your customers to pay and so you can take control of your cash flow.

Controlling collection dates: an imperative for all companies

If your invoices are paid by check or by bank transfer, it is up to your customers. Late payments require an internal organization, whether for follow-up or reminders... these are time-consuming and costly administrative procedures that can generate a failure in your cash flow but also in the relationship with your customer. The control of the dates of collection is necessary for the safeguard of the companies.

What is direct debit?

Direct debit is the solution that allows you to stop waiting for payment from your customers. A solution that replaces checks and transfers, thus addressing the problems of delays, forgetting and other reasons why the payments you expect are not made on time. This solution is for all companies whose customers pay repeatedly, such as :

  • The gym clubs
  • The work-at-home services
  • Telephone companies (subscriptions)
  • The landlords
  • The Associations (payment of dues, donations etc.)
  • Etc.

The automatic direct debit is a simple and efficient way to automate the collection of your recurring and one-time bills.

How does automatic direct debit work and what are the benefits?

Any direct debit order requires the customer's prior consent by signing a SEPA mandate (previously called "direct debit authorization") which must be returned to the creditor along with his RIB (bank identification statement). This document authorizes the creditor to debit the customer's bank account on a one-time or recurring basis.

Once set up, your client no longer has to worry about paying their invoices and any delays that could damage their relationship with their creditor and incur costs

As a company, you can finally control your collection dates, ensuring a better vision and management of your cash flow.

The advantages of direct debit are numerous. For companies, these are essentially :

  • To manage and control the dates of collection and therefore to better manage their cash flow which is no longer linked to that of their customers;
  • Reduce time spent on administrative tasks and associated costs (reminders, etc.) while maintaining good customer relations and optimal service quality.

The Olkypay direct debit solution

From your Olky Pro Account, create your direct debit mandates, obtain your customer's consent by electronic or handwritten signature and carry out your direct debit orders.

In the event of an unpaid invoice, an automated process allows for the rapid recovery of the amounts due without manual intervention, by representing and/or splitting the amount to be collected initially. This unique feature, created by Olkypay, offers companies the opportunity to focus on their development rather than on collecting their receivables.