- Bacs, Bacs Reports, Benefits of Direct Debit, bureau, charities, charity, Direct Debit, direct debit bureau, direct debit processing, direct debit solution, Paperless Direct Debit, Promoting Direct Debit, third sector
- Bacs, Bureau Service, Charity, Consultancy, Direct Credit, Direct Debit, Paperless Direct Debit (PDD), Security, Training
- 16, APR 2018
The Giving Generation: How Direct Debit has reformed donations and funding
If you’re a charity reliant on donations then Direct Debit is the solution you might not even know you’re looking for…
Offering easy ways to donate is a vital part of gaining and retaining donations wherever possible. In today’s financial market people are far happier to sign up online for smaller more regular payments. Whether online or through phone signups, the ease of signing up and automating regular donations will attract new and committed donors. This means that Direct Debits are a no-brainer for charities.
Millennials have been given a bad rep as lazy, selfish, and materialistic. But, whilst judgement may be passed on this generation, the fact is that they have revamped how charity work and donations are being executed. A recent Millennial Impact Report found that 84% of the millennial workers surveyed had made a charitable donation in the previous year, and donations are more focused than ever. This generation cares about and focuses on specific causes, and gives continuously.
This generation, dubbed the ‘giving generation’ in some reports, view their charitable contributions as investments rather than simple donations. This mentality coupled with the ease of online access and technological advances means that not-for-profit and charitable organisations have never been in a better position to gain the commitment of regular donations and support.
If you’re receiving donations by direct debit, you will have a greater overview of how much you will be receiving. This gives greater certainty, allowing you to budget and plan more effectively. The more you can plan and do, the more support you will gain. This new focused way of giving is spurred on by action. Your donors have more visibility than ever on what you are doing, so if they can see that their support is making a change they will continue donating.
As accountability becomes more important to the public that support you, the importance of financial accountability is even greater. The BACS reports you receive using direct debits are a huge advantage to keeping track and for accountability. They also help with keeping administration costs down. Investing in a new system to manage your direct debits may seem daunting, and an unjustified expense and that’s where a Direct Debit Bureau can help. A bureau takes away your need for expensive software and the worry of errors or missed payments and collections. Your staff and time will be freed up and you will be able to do more. The benefits of using direct debits are clear for charities. It’s well worth exploring the possibilities so that your organisation can take advantage too.
If you have an interest in Direct Debits and Credits we’d be more than happy to help. We’re a multi-faceted company that supplies Direct Debit and Credit training, consultancy and Bureau services. So whether you need that extra help to process your transactions perfectly yourself, or you’re looking for someone else to do the job for you, we would love to hear from you. Give us a call on 0845 658 6488 or email us at firstname.lastname@example.org