Changing to SEPA Direct Debit

Changing to SEPA Direct Debit

EasyTrack signed up to DebaPay to use SEPA direct debit, it changed their business.

 

Who Is This, EasyTrack?

EasyTrack provides an on-line and real-time GPS vehicle tracking service to their customers, delivering detailed engine and driving details for all their vehicles. Operating country-wide, their business involves the provision of tracking devices and GPS equipment along with an extensive real-time monitoring service.

Stress, The Problem That Was

Cash, cheques and promises, the company received payment in a number of ways. When received electronically, they faced the challenge of reconciling credits on their bank account, a regular challenge for many businesses.
A significant amount of time was being spent meeting customers to collect payment, where the process had partially evolved to involve a staff member visiting a customer’s premises, and required a regular visit to their bank to lodge the cash and cheques collected. With banks now limiting the times that they’ll accept lodgements, the cashflow was often less than optimum. In addition, there were regular occasions where substantial sums were held in company vans and in the office while they scheduled a visit to their bank branch.

The stress involved in keeping on top of cash collection while also pushing to grow the business made for a very challenging and sometimes stressful environment, growth was under pressure.

Driving Change & Growth

EasyTrack signed up to DebaPay to use SEPA direct debit, it changed their business.
In a short period of time their activity changed from chasing payment to a team focusing on driving sales and ensuring they continued to provide great customer support.

We worked together to plan the introduction of the system, from the application process with their bank to becoming a SEPA direct debit originator through to the communication to their customers about the introduction of the system, a key element of such a change.

Obtaining their SEPA ID to avail of SEPA Direct Debit took a few weeks, during this time the system was configured for the business and the team became familiar with the workings of DebaPay, fully prepared for when the system went live.

From the off, EasyTrack took a firm position on how they wished to change the collection process, aiming for 100% coverage of subscription fees (monitoring service) along with a partial payment plan option on device sales – here the customer would pay a portion of the cost up front and place the balance on a payment plan via DebaPay. This approach, affording their customers the ability to spread part of the cost over time, resulted in increased sales for the business. They could not have implemented this without the system.

Convincing Customers To Say YES

yes

While they initially encountered some resistance from certain customers in relation to the signing of the direct debit mandate, this was overcome by explaining the control inherent in the DebaPay system whereby no more or less can be collected from the payer’s account than that stated on the request being presented to the customer for approval.

DebaPay enables EasyTrack to explicitly detail the request:
– the purpose of the collection i.e. the service or product being supplied
– the amount being collected (no more or no less)
– the date(s) the payment(s) will be debited from the customer’s account.

This detailed and transparent request placed in front of the customer affords them the comfort of knowing they remain in control of their bank account. The customer signs the mandate electronically and immediately receives a confirmation email.
Going further, if the collection is paused or cancelled the customer receives an email advising them accordingly – the customer remains informed at all times.

 

Conclusion

The introduction of DebaPay at EasyTrack is a great example of how success is achieved. The EasyTrack team were surprised at how SEPA direct debit quickly changed their business and at how simple the collection process became with DebaPay. It didn’t happen by default on enabling direct debit or DebaPay, such change requires effort but it pays off.
They had evaluated another system prior to learning of DebaPay, it would have involved paper mandate signing and requesting customer bank details, things they don’t have to worry about.

It’s been great for us in DebaPay in terms of seeing how the system can change the activity of a business and we’ve learned from interacting with the team at EasyTrack having worked very closely together during the initial introduction of the system. We’re very grateful to the team for trusting in us to deliver and delighted that the volumes being processed continue to grow.

 

If you feel affected by this tale please do contact us, we are more than happy to share the benefits our clients are enjoying.

P: 01 5394240

E: talk2us@debapay.com

 

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