In2grate prepares customers for new SEPA European Union Bank Payment Standards
In2grate Business Solutions, supplier of ERP, manufacturing, service and asset management software, is helping customers meet the Single Euro Payments Area (SEPA) credit transfer deadline of 1st March 2014. SEPA is the payments integration initiative of the European Union for simplification and harmonisation of bank transfers.
In2grate has already developed and sold a number of compliant SEPA payment systems based on the class-leading Infor ERP software, with more systems destined for installation in time for the deadline. The SEPA upgrade makes it easy for our customers to benefit from the initiative without the need for additional software or duplication of work.
“SEPA is a very good initiative and we are working with our customers to ensure that they will beat the deadline. For those dealing in Euro payments, SEPA is advantageous and In2grate will ensure that Infor users are among the first to benefit from it. We have added the SEPA functionality to our Infor-based ERP solutions and a number of our customers are already benefiting from the upgrade. We are able to implement the new functionality quickly and efficiently and would encourage companies that do business in Europe using Euros to contact us to find out more,” says Kathryn Howarth, Group Marketing Manager, In2grate Business Solutions.
“For many of our customers, the initiative should improve the efficiency of cross border payments and turn the different national markets for Euro payments into a single domestic one. In2grate customers will be able to make cashless Euro payments using their existing ERP systems to anyone located anywhere in the area using a single bank account and method of payment, which will simplify transactions and ensure quicker payments.”
Under SEPA terms a customer involved in a Credit Transfer payment can only be charged by their own payment service provider. The initiative enables lower transaction charges for payments across SEPA member states (the 27 EU Member States plus the four members of the EFTA – Iceland, Liechtenstein, Norway and Switzerland – and a remaining country Monaco). It also incorporates pre-agreed timeframes for delivering Credit Transfers provide certainty for cash collection and facilitates automatic reconciliation of incoming payments with outstanding invoices.