SEPA:

The time for the transition to the SEPA scheme will close until February 1, 2014 the processes and IT systems used on the new standards for non-cash payments must be adapted. Companies should act now, otherwise it can be expensive. Duisburg, the 5th March 2013. “Numerous German companies are not or prepared inadequately for the changeover of the cross-border payments on the European SEPA scheme”, says Mr Dr. Christoph Swart, partner of the auditing and consulting company PKF Fasselt lookup in Duisburg. For companies, there is urgent need for action. February 1, 2014, the processes and the IT systems used should be SEPA-compatible. Succeed in time, it can be really expensive for the company”, warns Dr.Swart.

The consequences range from increased work effort in processing and allocation of payments through any interim due to delayed payments and failed direct debits up to fine occupied registration violations in foreign trade transactions. “Action analyze companies should therefore now analyse their action and immediately take the changeover to SEPA in attack”, Dr.Swart is recommended. From an enterprise perspective, it is important to note that the changes affect not only the processes that are ostensibly with the payments in connection, but touching a wide range of other areas. This extends from the simple change of the business letterhead to separate regulations for archiving and digitisation of the present paper direct debit mandates. In particular IT systems used in the company need to be converted. You must support the new data formats and use the changed processes. The SEPA scheme that causes the SEPA scheme as of February 1, 2014 in 32 European countries the existing national procedures for credit transfers and direct debits in the currency euro from. SEPA (single euro payments area) referred to the uniform Euro payments area, which more foresees no distinction for payments in euro between domestic payments and cross-border payments.

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