Eiger Systems publishes free guides on SEPA Direct Debit and Swift Connectivity for Corporates

24 September 2007

Eiger Systems, an Experian company and a leading developer of strategic payment solutions, today published two free guides designed to inform corporates about two of the key changes currently affecting the European payments arena: SEPA Direct Debit and SWIFT connectivity for corporates.

SEPA Direct Debit is a practical guide to help corporates maximise the benefits of the new SEPA Direct Debit scheme that will be implemented in 2009. This revolutionary step will enable organisations to make and receive payments across 16 euro countries as easily and inexpensively as they do locally, through a single scheme. The guide explains how SEPA Direct Debit will work, the opportunities it presents and potential pitfalls that corporates need to avoid, as well as the key commercial and technology issues that corporates need to address.

Jonathan Williams, Eiger Systems’ Director of Communications and Product Strategy, believes that SEPA Direct Debit can contribute directly to the achievement of key corporate objectives: “Most businesses aim to expand their customer base, reduce costs, increase revenue and improve their cashflow, without losing customers. The SEPA Direct Debit scheme can contribute to all of these objectives, but only if corporates explore with their banks and technology providers precisely how to reap the full benefits of this important innovation.”

The second guide, SWIFT connectivity for corporates, introduces the benefits of corporates using SWIFT to communicate with their banks. Once the preserve of the financial services community, SWIFT services are now open to corporate organisations. Correctly implemented, corporate access to SWIFT should lead to operating efficiencies and a reduction in risk, particularly in the Treasury function. The guide highlights the opportunities that are now available, the potential benefits to corporate treasurers and the strategic steps corporates should take to implement SWIFT connectivity successfully.

“With both these initiatives”, explains Jonathan Williams, “it is essential that corporate organisations talk with their banks and their technology providers at the earliest opportunity. The key to achieving the optimum results from both schemes is effective planning, clear understanding of the potential benefits and close working relationships with all parties involved.”

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