Most European financial professionals are working in strategic payments initiatives in response to the implementation of the single euro payments area (SEPA) from 1 August, reports Reval.
A recent survey of 160 finance professionals by the software-as-a-service (SaaS) provider of treasury and risk management (TRM) solutions found 93% reporting they had such initiatives on their agendas for this year, although only 18% said they are implementing payment factories or shared service centres (SSCs)
“The pioneers in treasury have already started leveraging SEPA to implement more sophisticated payments concepts. It´s only a question of time until others will follow,” said Günther Peer, director at Reval. “But it will be the adoption of technology that will determine the pace of the payments revolution.”
According to the Reval survey, 66% of respondents are planning investments in new payments technology. Among these, 25% say they are planning to implement new treasury technology and 29% are planning to improve the use of their existing treasury systems´ payments capabilities.
“A SaaS-based treasury system could provide a flexible, independent solution for bypassing a fragmented payment infrastructure,” Peer added. “SaaS technology would easily integrate and streamline a corporate´s global payment processes within only a few months.”
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