Stop waiting for payments. Offering Direct Debit as a payment method can reduce the time it takes to get paid by 47%, minimise your DSO and improve your cash flow.
Want to know how you can maintain a healthy cash flow for your business?
Most businesses have a DSO of 20-30 days according to Forrester.
Getting paid doesn’t have to be this slow.
Choose the right payment methods
Offer a payment method that is preferred by customers and benefits your business.
Choosing methods your customers prefer. Account-to-account methods, like bank debit, are preferred by 44% of UK businesses, compared to 35% for corporate cards.
Reducing payment failures
10–15% of all credit and debit card payments fail. Cards are lost, expire, or are rejected by issuing banks. Every failed payment needs to be retried and rectified, adding to the admin burden of collecting payments.
The global benchmark for payment failure with GoCardless is 2.9%.
How to maintain cash flow across customer lifecycle
Now more than ever, businesses need to maximise cash flow to recover from the economic challenges of the global pandemic.
We’ve rounded up some simple ways you can optimise payments and cash flow at every stage of the customer lifecycle to help your business grow.
30% of churn is involuntary, stemming from failed payments.
Maximise your payment success with GoCardless and retain your loyal customers for longer.
Re-Leased DSO improved by 15 days
Cloud-based property management software, Re-Leased, chose GoCardless as a reliable and cost-effective payments partner it can trust.
“We’re also down to 30 days DSO,” Sam said, “which, as we have 30-day payment terms, means most invoices are being paid on time. We can see which payments will be coming in and when, which is massively important for our planning, and also if any are likely to cause us issues and need some proactive input.”
