by Guy Simons, Assistant Treasurer, TRW Automotive
With very little time to go before the deadline for SEPA (Single Euro Payments Area) migration, many companies will be challenged to achieve full compliance despite the additional six-month migration period which has recently been announced. One of the reasons that many have delayed full migration is the declining marginal benefit, so full SEPA migration is now treated as a compliance project rather than a catalyst for cash management transformation. Yet, while the degree of potential benefit will vary across organisations, the payments landscape in Europe is changing fundamentally. In this article, Guy Simons, Assistant Treasurer responsible for global treasury operations at TRW Automotive, takes a pragmatic view of SEPA, both from a compliance perspective and when considering the opportunities that it presents.