Buying group Synaxon is growing at a rate of ten new members a month, and has negotiated a deal with financial services firm London & Zurich to bring direct debit management services to its members at a discounted rate.
Having recorded around 200 per cent growth in membership on last year, Synaxon is keen to add more quantifiable benefits to its portfolio of services.
This latest move is designed to create a range of financial services, including the ability to collect credit accounts, trade accounts and make regular payments online, and will support Synaxon’s ongoing drive for growth.
Due to the paperless nature of the service, there is no need for clients to sign new direct debit mandates if changes to external conditions occur – such as a change in VAT rate. In addition, the service is linked to AUDDIS, an automated debit instruction service that allows users to track their payments and clients, reducing manual handling of accounts.
“We’re pleased to announce a partnership with London & Zurich to bring direct debit services and account management solutions to our members,” said Synaxon’s managing director, Derek Jones. “With continuity of finance posing such an obstacle to many small retailers and resellers across the country, Synaxon is delighted to have been able to negotiate this exclusive deal.”
London and Zurich’s sales director Chris Barnes told PCR: “Due to structural issues, most small businesses don’t have access to this kind of system but our system allows them to do so. We’re hoping to add value for Synaxon as well as generate business for ourselves – we see the IT industry as a key area for growth in these kind of services.”