Payment Factories and the impact of SEPA
In late 2011, we conducted primary research on 157 companies based in Europe & North America across a wide variety of industries to examine their use of, experiences with, and intentions regarding payment factories. We also explored how the Single Euro Payments Area (SEPA) is impacting the adoption of payment factories in Europe.
The global adoption of payment factories continues to increase, however the rate is slower in Europe than in North America, despite the introduction of SEPA with the migration of low value payments from domestic schemes, now set for the 1st February 2014.
As the volatile economic environment continues, cash and liquidity are increasingly important on the corporate agenda and finance executives are evaluating the effectiveness of their processes and operations across payables and receivables. Many Corporations are now turning to payment factories to deliver better control and visibility of cash as well as increased flexibility and integration with the supply chain.
One aspect that was clear from the research, not all Corporates are either fully aware of the challenges that and obligations they face with regards to SEPA, nor are they aware of the benefits that can be accrued if the right approach is taken. All Corporates should act now to ensure they are ready for the 2014 deadline.
We are uniquely well placed to support both banks and Corporates in meeting the challenges and opportunities of SEPA. Today, our solutions process more SDD transactions in Europe than any other provider. If you want to learn more about our SEPA services and solutions, we have SEPA experts located in 17 countries across Europe.
To get in touch please contact Financial.Services@logica.com
Click here to Download PDF (.9mb)
Logica
Skip to content
