Direct Debit Blog

Direct Debit is a fully automated payment type that moves money from one bank account to another on a recurring basis. This electronic transfer and collection of money through the banking system is run by Bacs in the UK and is closely regulated for security and fraud prevention.

A business can access the Direct Debit scheme either directly, by becoming a Direct Debit originator or indirectly, through a third-party specialist provider.

The software as a service (SaaS) industry is booming. The majority of SaaS businesses offer customers the use of software accessed via the internet and paid for by subscription.

This recurring income model is the reason for the success of many SaaS companies. Cash flow is guaranteed and finance teams can predict forward-looking revenue. This enables organisations to forecast more effectively and plan for business growth activities.

Carefully pricing the products and services of a business is important to generate sales, keep customers happy and ensure long-term success.

Implementing a well-considered pricing strategy involves researching competitors, understanding the target audience, and keeping up to date with trends and changes in the market.

Psychological pricing is part of this wider pricing strategy. It’s a strategy in itself with numerous tactics that are designed to appeal to a customer’s emotional, rather than rational, response to prices.

By 2024, the global Software as a Service (SaaS) market is expected to grow by 21.4%, reaching a market size of $185.8 billion. With the European market predicted to increase by 18.8% in the same time period.

Research has also found that 85% of small business owners plan to invest more into SaaS solutions by 2020, and that on average, businesses are already using between 25 and 100 SaaS applications.

Do you have a burning ambition to launch a software company? A great idea to revolutionise a business process or fulfil a consumer demand? The confidence and passion to make it happen?

With low overheads, a recurring revenue model and the allure of joining the roll-call of SaaS success stories, there’s a strong promise of significant rewards. If you rise to the challenge fully prepared.

Here we explain some specific considerations about how to start a software company from scratch: from understanding your market to efficiently collecting subscription payments from satisfied customers.

Read on to discover insights into how to make an impact on the software stage.

Can you imagine a time when you couldn’t shop online or pay for your groceries with a tap of a bank card? Neither can your customers.

If you’re still taking payments using old-fashioned, offline methods then it’s time to elevate your payment game to offer secure payments online.

If you’re a business looking to start collecting recurring payments from your customers using Direct Debit, then there are a few direct debit collection rules that you need to be aware of.

Firstly, if you have customers in both the UK and in mainland Europe, then the rules differ from region to region.

Whether you have an established alarm system monitoring business or are at the exciting set-up stage, finance will never be far from your thoughts.

To guarantee initial success and secure later growth, getting and keeping those financials in order is essential.

How you collect payments for these will have a significant effect on several key business goals: cashflow, growth and maintaining your competitive edge.

The Home Office’s latest Commercial Victimisation Survey reveals that an average of 178 burglaries take place at commercial premises every day.

For those in the security business, these stats reflect an increasing need for protective tech such as monitored alarm systems by the thousands of companies targeted each year.

Recent figures value the total UK electronic security market, including both products and services, at £2.35 billion, an increase of 5% year-on-year.

If you’ve considered starting up a private security business and are now ready to tackle the task of writing a business plan, then our template below is for you.

In the UK, the security industry contributes an estimated £6 billion to the economy and private security workers in the country now outnumber police officers. And it’s not just in the UK that the industry is booming. Globally, the market for private security services is forecast to grow by 6.42% from 2018 to 2022.

To join the ranks of this thriving industry and ensure you not only stand out from the crowd but are also a great success, invest your time in a thoroughly researched, well-written and properly formatted business plan.