European Union (EU) companies have less than four weeks to comply with the new single euro payments area (SEPA). Otherwise, their payments systems will be shut down,
The Irish Independent
SEPA, which will provide a common payment processing system across the EU, goes live on 1 February 2014. Any companies that fail to upgrade their systems will be unable to pay suppliers and staff or receive payments from customers.
A December survey, completed by the Irish Small and Medium Enterprises Association (ISME), found that only 22% of the country’s small and medium-sized enterprises (SMEs) were SEPA compliant.
“Companies that do not get ready for SEPA won’t be able to pay their staff or suppliers; it is as simple as that,” said Sean Fitzgerald, chief executive (CEO) of Sentenial, a financial software group that has been helping European banks and corporations in the transition to SEPA.
“However, it is certainly not too late to take action and hundreds of companies we are talking to started the new year with upgrading to SEPA compliance at the top of their to do list.”
In today’s digitally connected world, infinite quantities of data are produced by consumers daily at a mind-boggling pace and volume. With under three months left to prepare, here are four areas for businesses to consider, to make sure they are ready for GDPR implementation.
Cash-flow based metrics now feature prominently alongside traditional revenue measures of business performance in the key figures or financial summary pages of any public company.
GTNews asks Pugsley about what advice she would give to treasurers dealing with mergers and acquisitions, what the key challenges for her year ahead will be and how she is selecting a treasury management system (TMS).
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.