This will improve cross Euro border payments and reduce the fees of these transactions. UK companies trading in Euro’s will also benefit from reduced fees and faster payments using this payment initiative.
“By February 2014 SEPA credit transfers and direct debits across the euro area will be as easy as domestic payments within one country are now.”
European Commission Press Release, December 2011
This standard is legally-binding and the deadline of 1 February 2014 also applies for migration for domestic Euro payments.
Start planning your SAP migration now with the help of Birchman’s rapid deployment expertise. With many SAP migrations already completed, your project will benefit from this extensive experience and move to the SEPA standard before the deadline expires.
If you are also experiencing reporting, data quality or performance issues, Birchman’s fixed fee Value Check service can also support you to identify significant improvements.
Some of the benefits include:
- Linking financial strategy to financial operations
- Identify unused or missing system functionality or enhancements
- Identify opportunities to support existing staff work practices
- Identify further integration opportunities
- Identify Quick Wins
- Improved ROI and lower Total Cost of Ownership (TCO)
