We asked 260 Treasury Managers of Global Corpoarations about their readyness for SEPA (Single Euro Payments Area) :
In answer to the question “how would you assess your organisation’s readiness for SEPA?” the results showed:
16.8% of corporate treasurers and finance professionals are unaware of SEPA and the requirements needed to support SEPA compliance.
21.1% of respondents are considered to be ready for SEPA today, and a further 7.1% are finishing or testing their implemented solutions.
9.7% are currently starting implementation projects to meet the required 1st February 2014 end date.
This means that 62.1% of respondents have not yet started any implementation work. With a little over 12 months to go until SCT and SDD become mandatory, there is likely to be a significant risk that these businesses are not ready to use the SEPA schemes in time.