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Author's profile photo Isabel Molina Jimenez
Isabel Molina Jimenez
August 13, 2013 1 minute read

Can’t sleep at night because of SEPA?

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From February 2014, the SEPA payment formats are mandatory for the 27 member countries of the European Union as well as Island, Liechtenstein, Monaco, Norway, and Switzerland. These changes are a real challenge for a large number of companies. This does not only concern data management, but also adjustments of internal processes and software functionality.

Do not wait too long preparing your company to be ready for SEPA.

The good news is

SAP Business ByDesign and SAP Cloud for Financials are SEPA ready.

Sleep tight!

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SAP Business ByDesign and SAP Cloud for Financials support the change to SEPA by:

                          • SEPA Mandate Management
                          • Administration of IBAN and BIC/SWIFT Code
                          • Usage of the new ISO20022 file formats for SEPA
                          • Support of the changed payment processes

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      Author's profile photo Former Member
      Former Member

      It is really good to know that SAP is there to chorus with SEPA so that all European countries get themselves ready with the new payment transaction within the mentioned deadline. There are few well established finance institute who provides comprehensive and cloud based SEPA Mandate Management with bank grade security at very nominal cost