Direct Debit Process Review and Compliance Audits
The benefits of a Direct Debit process review and audit are numerous:
- An audit can uncover incorrect or inaccurate processes and discrepancies. These may be indications of weak financial organisation or even internal fraud
- Process reviews can identify areas in an organisation’s financial structure that need improvement. This in turn can reassure management that the weaknesses, risks and areas of non-compliance in their organisation are well-studied with effective systems in place to handle them.
- In addition, process reviews and Audits can identify efficient, high-performing areas. This can ensure that the team is left with much greater confidence that they are doing things correctly.
Direct Debit Process Review and Compliance Audits can improve an organisations efficiency and profitability. They help ensure that everyone involved in the process better understands their own Direct Debit and financial systems.
Thorough and Practical Audits
A Direct Debit Compliance and Process Audit typically takes one full day (depending on the complexity of your set-up). The first part of this will be held on-site at your offices. Our trained Auditor will review all of your Direct Debit documentation. The Auditor will spend time with you and your teams going through each step of the Direct Debit cycle from start to finish. The remainder of the time will then be spent off-site where our Auditor will write a comprehensive report on all findings. This will include clear and actionable recommendations, for example, looking at the way you work with your Bacs and database software; advice on security, accuracy or audit trails etc.
Prices start from £995 + VAT. In most cases, a full and informed Audit will pay for itself in terms of improved efficiency, reduced errors and improved collections, so contact us today to arrange a date.