New SmarterPay Partnership Will Revolutionise Direct Debit Collection

Aedon.Accounting is delighted to announce an exciting new partnership with SmarterPay, a collaboration that has been years in the making. This partnership represents a significant milestone in their journey, one that’s built on a foundation of mutual respect and a shared vision for the future of direct debit collection.

Relationship with SmarterPay dates back to 2018, when both companies first started working together on projects related to the original Sage Live, now known as Sage Financials. Over the years, they have developed a strong professional bond, fuelled by their complementary skills and a genuine desire to create something truly impactful together.

The time has finally come for Aedon.Accounting and SmarterPay to turn their shared vision into reality, beginning with SmarterPay’s core functionality in the direct debit sector. SmarterPay, one of the UK’s largest direct debit collectors, boasts an impressive client portfolio that includes well-known names like British Gas. As a serious player in the direct debit space, SmarterPay has joined forces with Aedon.Accounting to deliver a seamless, integrated mandate process aimed at transforming how businesses manage their direct debits.

This collaboration revolves around three key elements designed to streamline the direct debit process and alleviate the administrative burdens often associated with it.

Simplified Mandate Setup:
The first element of their integrated solution is a quick and effective method for setting up direct debits using SmarterPay’s platform. The process is user-friendly, cost-effective, and ensures all necessary details are validated, saving businesses time and minimising the risk of errors.

Efficient Direct Debit Collection Run:
The second component is the creation of a direct debit collection run. By integrating Aedon.Accounting with SmarterPay, businesses can send out direct debit instructions 14 days in advance and collect payments seamlessly 14 days later. This integration ensures the collection process is smooth and reliable, providing businesses with the confidence that payments will be processed correctly and on time.

Automated Handling of Failed Payments:
The third, and perhaps most crucial, element of the solution addresses the challenging aspect of dealing with failed payments. Aedon.Accounting has developed a unique transaction called the “sales failure” to manage this issue. This feature automatically updates the sales ledger and records the failure, enabling credit control teams to effectively manage the situation.

What truly enhances this solution is SmarterPay’s Smart Cloud system, which automates decision-making regarding the re-presentation of failed direct debits based on business-specific rules. With around 60 different codes indicating why a direct debit might fail—ranging from insufficient funds to more sensitive reasons like the account holder’s death—these rules allow businesses to respond appropriately to each situation.

The partnership was officially launched at the recent London’s Calling event and has already garnered significant interest from clients who recognize the value of this integrated solution.

Phil Chilvers, CEO of SmarterPay, stated, “We are incredibly proud of our close working relationship with Paul and the team at Aedon Accounting. Our partnership delivers a clear vision for the future of accounting within Salesforce. Aedon’s heritage in the accounting space has helped overcome the challenges associated with regular revenue collections which is so important for everyday business. We are really very excited about the opportunities ahead.”

Aedon.Accountancy also shares the enthusiasm regarding this partnership’s potential to revolutionise how businesses handle direct debits. By automating the most time-consuming and error-prone aspects of the process, they are providing businesses with the tools needed to focus on what they do best—growing and thriving.

The teams encourage everyone to stay tuned for more updates as they continue to roll out this groundbreaking solution. They also invite anyone interested in learning more to reach out for further information about how it can benefit their business.