Celtrino SEPA Survey: The Results Are In

Celtrino SEPA SurveyAre you ready for the SEPA migration3

Last month, Celtrino undertook a survey to gauge the progress businesses have made with their SEPA switch-over. The survey gathered information on businesses’ SEPA-readiness and their general grasp of the changes SEPA will bring. The results showed a vast difference in the experiences of businesses with their migrations. Continue Reading…


Posted on March 5, 2014 in SEPA by
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Get One Month’s Free SEPA-Compliance with SEPALink

Celtrino SEPA Survey

SEPA on the keyboard

The migration to SEPA is now in full swing with many businesses in the process of, or having recently completed their switch despite the extension of the deadline by the European Payments Council. Celtrino are currently undertaking a SEPA survey to gauge the progress businesses have made with their SEPA switch-over. The survey is short and gathers information on businesses’ SEPA-readiness and their general grasp of the changes SEPA will bring. It also captures how they have made / plan to make the switch to SEPA.

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Posted on February 21, 2014 in SEPA by
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IPSO Comments on Extended Transitional Period for SEPA Migration

IPSO continues to aim for full SEPA migration on 1 February

The following is a statement issued today by IPSO:

SEPALink logoThe Irish Payment Services Organisation notes the EU Commission’s proposal to amend Regulation (EU) 260/2012 as regards migration to the SEPA payment schemes. The 1st February 2014 end date is maintained and the commission proposal provides for an additional transitional period during which payments in legacy formats can still be processed. The proposal will minimise any possible risk of disruption in payments to consumers and businesses.

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Posted on January 13, 2014 in SEPA by
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Additional 6 Month ‘Transition’ Period for SEPA Migration

EU Commission Extends SEPA Deadline

SEPA Deadline extended

 

The deadline for banks to stop accepting non-SEPA methods for Direct Debits and Credit Transfers has been extended today by the EU Commission till August 1st 2014, to accommodate those who have not yet made the switch and avoid the chaos that was looming large for many businesses.

Lots of organisations have yet to implement a solution for producing SEPA file for Direct Debits and Credit Transfers despite impending migration dates. It’s still not clear how banks will utilise this additional time. Celtrino encourages businesses to migrate as quickly as possible, so that this additional time allows them to avoid cash flow disasters and not just delay them till August.

For more information on SEPA solution click here

 

Extract from European Commission Press Release:  Continue Reading…


Posted on January 9, 2014 in Announcements, European Commission, SEPA by
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SEPA Business Service: An Interim SEPA Direct Debit B2B Solution

IPSO’s New SEPA Business Service

With no Irish banks signing up to the SEPA B2B scheme and rising concerns from Irish Businesses as to the potential difficulties this may cause, the Irish Payments Services Organisation (IPSO) have SEPA Business Servicecome up with an interim solution called the SEPA Business Service. The main concern it addresses is the ‘no questions asked’ right of refund which Debtors can use up to 8 weeks after a debit is processed. This is due to the consumer nature of the SEPA Core Scheme.  The SEPA Business Service will operate in the SEPA Core Direct Debit Scheme with the withdrawal of the ‘no questions asked’ right of refund for authorised transactions for business to business transactions. This means that if the Direct Debit satisfies the SEPA Business Service conditions it will not be refundable unless it can be proven that the Direct Debit was unauthorised.

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Posted on November 13, 2013 in SEPA, The Single European Payments Area by
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SEPA Switch Major Threat to Irish SME Cash Flows

SEPA, report, ECBWith only 58 working days left before the forced legal retirement of current credit transfer and direct debit payments solutions from the market, most SMEs are at significant risk of major cash flow problems and operational meltdown of their businesses.

According the latest report published by the European Central Bank on 24th October 2013, only 6.8% of all Eurozone direct debits will continue to work in 1st February 2014. Although the situation is better for Eurozone credit transfers with 56.3% ready for the February deadline, in Ireland the situation is much worse with only 15% ready.

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Posted on November 5, 2013 in EU, Report, SEPA by
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SEPA & EDI Invoicing

SEPA Direct Debit Business to Business Scheme

SEPA on the keyboardThe imminent arrival of SEPA based direct debits into the Irish landscape has highlighted 2 distinct business risks for B2B suppliers. At present Irish B2B customers are afforded the same rights as B2C customers. This is due to the fact that no Irish banks have currently registered for the SEPA Direct Debit Business to Business Scheme leaving the SEPA Core Scheme as business’ only option. This means that a B2B customer currently paying by direct debit can now recall an authorised payment anytime up to 8 weeks after the payment date without having to give a reason for the recall. This has the potential to cause havoc with supplier cash flows and seriously jeopardise the viability of some suppliers.

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Posted on October 15, 2013 in e-Commerce, e-Invoicing, EDI, SEPA, The Single European Payments Area by
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New Study Finds Public Procurement in the UK to be the Most Expensive in the EU

UK is most costly public procurement process in the EU

UK is most costly public procurement process in the EU

The UK has the most expensive public procurement process in the EU, this is according to a new research carried out at the Centre for Economics and Business Research (CEBR) in London. The CEBR’s research highlights the need for cost reduction measures to be taken in order to make tendering more affordable for the public sector in the UK. The findings are staggering in that public sector procurement processes are 90% more expensive in the UK compared with the rest of Europe. This must be a cause for concern for our largest trading partner.

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Posted on July 25, 2013 in Digital Agenda for Europe, e-Commerce, eProcurement, Procure-to-Pay, Procurement, Public Sector, Research by
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Surveys Show that CEOs & CFOs Are Positive About Future Growth Both in Ireland & Abroad

Irish CEOs prepare their companies for growth

CEOs are tackling the major business challenges that their businesses are facing and with that comes confidence in the future. A new survey by Price Waterhouse Coopers adds to the positivity about the Irish economy and its recovery; it’s entitled “CEOs eyeing up growth: PwC’s 2013 CEO Pulse Survey”.

The findings indicate that confidence in the Irish economy is at its highest level since the recession began what seems like way back in 2007.

PwC CEO Pulse Survey diagram on Planned restructuring activities in the year ahead
Source: pwc.com

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Posted on July 18, 2013 in CFO, e-Commerce, EU, European Union, Private Sector, Report, Research, Survey by
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New Directive Looking to Standardise e-Invoicing Across the EU

The European Commission has released a draft directive on e-Invoicing in public procurement that communicates its vision to fully digitalise by 2020.

Digital Agenda for Europe

Source: digitalcommunities.com

Source: digitalcommunities.com

This directive is part of the Digital Agenda for Europe initiative, which is a pillar of the EU 2020 strategy. EU 2020 is a growth strategy that is trying to ensure the EU remains one of the major players in global sustainable business and make sure that the European economies emerge from recession stronger than ever and more unified. This Digital Agenda initiative is looking to boost the EU economy by harnessing digital technologies and maximising their growth potential within the member state economies. By creating smart economies the EU is looking to take advantage of growth opportunities that technology is offering in a digital age.

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Posted on July 10, 2013 in B2G e-invoicing, Business Process Automation, e-Commerce, e-Invoicing, eProcurement, EU, European Commission, European Union, Procure-to-Pay, Procurement, Public Sector by
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