Many treasurers will read another article about SEPA and wonder “why do we need to be told so many times?” The reason is that not everyone has heard, and even fewer have listened.
To what extent are companies able to leverage SEPA, and which major areas require attention for a successful SEPA project? The Editor speaks to several experts and corporates in search of an answer.
One of the most significant areas of potential benefit for SEPA is centralisation of payments and collections - including payments-on-behalf-of (POBO) and collections-on-behalf-of (COBO).
SEPA migration is an urgent, challenging and substantial undertaking - every project will entail different challenges, impact a large number of shareholders, and time is flying by rapidly.
With less than six months until the Single Euro Payments Area (SEPA) deadline on 1 February 2014, why are so many corporate treasurers and finance managers reluctant to start their migration projects?
While it may appear that SEPA dominates the treasury media as we lead up to the final migration deadline, treasurers and finance managers have different levels of awareness about its implications and the opportunities that SEPA is creating.
The migration of the existing legacy payments infrastructure is a difficult task for both banks and corporates, but good preparation and thorough execution of the migration project will enable corporates to greatly benefit from SEPA.