The Widget UK Blog

 As part of an article on credit control, headed "Measures to keep bad debt demons at bay,"  FT Enterprise Correspondent mentioned one of the payment methods which Widget offers to its customers.  

"Widget, a Stevenage-based distributor of consumer electronics products, is equally aware of the need for good credit control..

Consequently, the company has started insisting that some customers settle their bills by direct debit as a condition of extending credit.

“There is a certain amount of paperwork involved in administering direct debits, but it is not rocket science,” Mark Needham, Widget’s chairman, says. He notes that, in one case, a customer settled its account by direct debit days before collapsing into administration. “We would have lost that debt if we had been waiting for a cheque in the post,” he says.