OBS prepares customers for new SEPA European Union Bank Payment Standards

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Open Business Solutions (OBS), a leading 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.

SEPA Payments ERP Software
SEPA is advantageous for companies dealing in Euro payments as it simplifys transactions meaning quicker payments.

OBS has already developed and sold a number of compliant SEPA payment systems based on its class-leading Infor ERP software, with more systems destined for installation in time for the deadline. The SEPA upgrade makes it easy for OBS’ 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 OBS 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 OBS to find out more,” says Kathryn Howarth, Group Marketing Manager, Open 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. OBS 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.

For more information contact
Kathryn Howarth, Group Marketing Manager, Open Business Solutions (part of the Anisa Group): kathryn.howarth(at)anisagroup(dot)com, tel: +44 (0)151 448 2972

About Open Business Solutions
Open Business Solutions is a Key Business Partner for Infor XA and XS. Open Business Solutions has more than 40 years’ experience of working with manufacturing, companies to successfully implement systems that enable them to improve operational efficiency, grow their business and remain competitive.

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Gemma Webb
In2grate Business Solutions

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