How important is payment flexibility to your business?

Any business, large or small and regardless of if B2B or B2C that offers payment terms on goods and services and/or offers subscription facilities, has always needed to offer some flexibility to its payers, however this has now become business critical in the current climate, furthermore it is unlikely to change for many months ahead, as both businesses and individuals alike need to manage cashflow, to efficiently and effectively manage available income and expenditure. Flexibility, transparency and clarity is key on all sides now.

 It is reported that around 40% of future Direct Debits have been impacted in the last 4 weeks.

It is also a fact that, offering flexible payment options helps you both attract and retain customers, but more importantly it can ensure that you get paid more quickly.

If you are a business that is experiencing, cancelled Direct Debits, or just general uncertainty around future cash flow predictions, regardless of the payment method used, please get in touch to share your concerns and also to share what plans you have to manage through this situation. Where do you see the balance of flexibility should stretch to?

How will you balance the need to maximise your businesses income, especially whilst showing care and consideration to your payers? Just where does the balance between logic and calculation of this meet or cross with the emotional, critical and commercial elements to both sides? comment to share your views, ideas and thoughts.