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How businesses are streamlining the collection process with SDO and DebiCheck's real-time mandate approval

Strike Date Optimisation (SDO) and DebiCheck are two vital tools for improving the efficiency of a business's financial management strategy. Both services provide companies with real-time, unique benefits, including automation, flexibility, and reduced fraud, not to mention, both are fully integrated into all major South African banks. Each benefit plays a role in streamlining the payment collection process between companies and their customers, clients, or members, equipping your business with a comprehensive payment solution.
How businesses are streamlining the collection process with SDO and DebiCheck's real-time mandate approval

DebiCheck’s real-time mandate approval

DebiCheck is an automated once-off debit order authentication service that protects businesses from account fraud and reduces their debit order disputes. Customers that have taken out a new contract with your business, will have their DebiCheck mandate registered with their bank. Customers then have the option of approving the mandate in person or remotely, as the process can take place through the customer’s banking app, an ATM, a smart POS device, or mobile USSD prompts. Once the DebiCheck mandate has been approved by the customer, the company can collect the relevant funds via DebiCheck’s debit order collection facilities without the risk of disputes, until such time that the contract between the client and company has been terminated. This debiting service offers real-time, batch, or same-day authentication options, allowing payment collections to take place in the most effective manner for both the client and company.

Identifying practical strike dates

SDO is another automated once-off process that uses intelligent software to collect data that identifies when the client is most likely to have funds available in their account and validates the client’s ID number at the same time. Once the data has been collected, the SDO software will then determine three optimal strike dates for that particular client, which the company can then make use of for payment collections throughout their client relationship. Companies can implement these services in batch format or individually, allowing them to gain intelligence about client accounts in an instant as they deem necessary.

DebiCheck and SDO: a key collaboration to streamline payment collections

DebiCheck and SDO are two payment collection services that function effectively when used independently but are highly advantageous when paired. Using both DebiCheck and SDO, companies can maximize their monthly revenue by increasing collection success rates, thereby ensuring that they are protected from financial risk. DebiCheck services will allow companies to verify client accounts before proceeding with mandate authentications. Once the account is validated and the mandate is approved, the process will ensure that all client accounts are debited appropriately. In collaboration with SDO services, companies can reap the benefits of identifying the three most optimal dates to strike the client’s account. These dates offer the assurance of reduced payment collection failures as they are intelligently selected by the software as the ideal days for client fund availability. These services work hand-in-hand to streamline the collection process from the initiation to the close of each client-business relation.

Benefiting from streamlined collection processes

Electronic DebiCheck and SDO services offer unique benefits to both companies and clients. On one side of the spectrum, DebiCheck increases consumer safety, as such increasing consumer confidence in the brand, by providing them with knowledge of the payment beforehand. The mandate approval process is also beneficial to both client and company by ensuring that the correct account is being debited and by reducing debit order disputes through authorisation. While, on the other side with SDO, clients and companies can benefit from the flexibility of collection dates as well as collection formats. However, these two payment collection processes also have similarities as they both increase collection success rates, saving on the costs of failed debit order collections.

Streamline your payment collection processes through Bitventure’s DebiCheck and SDO services.


28 Mar 2022 17:38

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