Cash is the oxygen that enables a business to survive and prosper, and is often used as the primary indicator of business health.

For this reason, the inflow of cash to a business needs careful monitoring and management. One of the key elements of a cash flow and debtor management cycle is the use of efficient debtor payment mechanisms, such as debit orders. Most companies should insist on payment by debit order, especially when terms are granted to clients.

Paysoft offers a highly secure and cost-effective debit order collection system where users can sign on and upload debtor account files through unique access-controlled authorisation levels.

You can add and process debit orders against all South African bank accounts – debits can be made against current, cheque, savings and transmission accounts – and our automatic CDV (check-digit verification) system pre-validates bank accounts to determine if account numbers are consistent with bank and branch validations. This ensures the accurate capturing of data, prior to submitting transactions to the bank, reducing returned or rejected transactions, and the associated costs.  Once processed, batch reports are provided to manage and measure successful and returned debit orders.

Multiple settlement options are available, or you may opt to run in your own account.

Paysoft will guide new clients through the process of obtaining the correct legal customer mandates required to process correctly-authorised debit order payments.

A key objective of all Paysoft products is to reduce cost and to increase the effectiveness of the total credit cycle. Returned debit order files are analysed by our expert credit consultants who will assist each client with additional strategies to deal with each different returned debtor category.