Paying through direct debit is something we are pleased to offer to clients. In the legal sector it can be quite unusual, and it is common for work to be completed and the full bill settled within a 14 to 30 day period. But we understand that this method doesn’t always work out, especially for SME’s.
We know our clients and understand what works best for them. We know that every business is different, which is why we like to offer flexibility. Sometimes paying a bill in full is the better option for a client, and of course we are happy to accept this, but 70% of our clients pay their bills on time through our direct debit option.
We know offering direct debit offers benefits to both our clients and ourselves, so we have put together a list of the benefits of paying by direct debit.
- Helps small businesses to stay in control of their finances
Direct debit offers flexibility to our clients. Paying by direct debit means that an agreed amount will be taken at an agreed time, so both parties know what is expected. It makes an otherwise larger bill affordable for small business, and allows them to stay in control of their spending. Understandably, we want to get paid for the work we do, and so direct debit allows us to work with clients who may not otherwise have been able to afford it.
- Helps to make the law accessible
Many business can’t protect themselves, because they simply can’t afford to pay for it. By offering direct debit we are allowing SME’s access to the law, which will help to protect their business, help them get paid and grow.
- Improves cash flow
Rather than one large amount, direct debit gives you the option to pay in smaller, more manageable amounts which are agreed prior to work commencing. This improves the business cash flow and helps business to manage their cash flow.
- Secure payment method that promotes paperless environment
Create Ts and Cs are a paperless environment, and we can support this idea because we offer direct debit. Direct debits are secure and a safe way of paying for the work.
- Increased client loyalty
Because we offer the option for clients to pay their bill in instalments through direct debit, it encourages loyalty. Many of our clients continue to work with us because we offer this payment method.