In our survey of over 260 corporate treasurers we asked; “Have you appointed someone to be responsible for your organisation’s migration to SEPA?
45.1% of businesses have appointed someone within their organisation who is responsible for managing their SEPA migration projects, with a further 10.7% in the process of appointing someone.
37.1% of businesses have not yet appointed anyone to take responsibility for their SEPA migration requirements. This is also reiterated by the fact that 62.1% of respondents have not yet started any implementation work
There is a risk that with such low levels of recognised responsibility for SEPA within corporates, achieving successful migration by 1st February 2014 may be unlikely, and therefore, additional costs maybe incurred by businesses post February 2014.