Technology Update
Our present is the best guarantee for the future
Adaptation to SEPA schema extended until 1 August
13/02/2014
The aim is to ensure the migration takes place smoothly, avoiding problems in the normal receipt and payment operations between individuals and companies. The two systems will coexist during this extension period, as some companies have already adopted their in-house processes for generating debits and transfers under the new European regulations.
SEPA is an initiative started up some years ago to facilitate cross-border banking operations. This project sets out a common standard that allows collections and payments abroad in the same conditions as in the state scope, something which will optimize the process, bring down costs associated with international commissions and, in general, improve how the market works.
There are 33 countries that must adapt to the new schema: the 28 European Union Member States, plus Iceland, Liechtenstein, Norway, Switzerland and Monaco. This translates as 20 million businesses and public bodies, in addition to all citizens belonging to these places that have a bank account.
According to data from Rankia, in November 2013 only 64% of transfers were made following the model set forth by SEPA. In the case of direct debits or standing orders, the figure dropped to 25 %. For this reason, the Commission has designated this 6-month margin in which, although the SEPA schema is mandatory, transfers and direct debits in the older formats are still accepted.
However, the European Union stresses that it is essential for companies to carry out this adaptation as soon as possible if they wish to continue to operate normally. To make this task easier, EDICOM has created the SEPA Platform, a solution for businesses that enables them to automate the process of setting up bank debits, in line with the XML schema in place for the Single Euro Payment Area. This software extracts the data from the ERP or financial management system, applies a transformation process to the XML format and certifies that the file contains the specific mandatory fields. The file is then directly integrated into the internal management system for forwarding to the banks, with acceptance totally assured.
The new format entails some changes, among them notably the limitation of the debit item to 140 characters. Until now, many businesses used this field to provide information related with billing or services, as the limit was 640 characters. However, with the SEPA this is no longer possible. So, EDICOM now additionally offers the Business@Mail application, which lets you publish electronic invoices in a secure web portal so that clients and customers can check these details.
You can find out more about our solution for compliance with the SEPA scheme
Tags
Cloud Computing B2B Cloud Platform EDI ASP-SaaS e-Invoicing GDSN VMI EMCS VAN OFTP2 AS2 Certification Authority Digital Signature Outsourcing SLA Software EDICOM Events Expert Chat SaaS-ASP Corporate Information HUB GS1 CFDI PAC APP Associated Facturae Data Sync NOM151 partners EDICOM Retail public administrations Acreditations Web Portal EDI NF-e einvoicing Partner Web Portal SAP EDI Health Edicomdata ediwin CRP EBI Facture Demat ei Payroll Portal EDI Travel B2B EDICOMNet edi logistics SAFT-PT Ticket Portal Avaluos business@mail EDI Manufacturers CT-e NFS-e TSD UE 1169/2011 epayrolls SEPA factura electronica Conservazione Sostitutiva edi automotive customer support center comprobante de pago CAE rg1169 e-billing DTE e-awb fattura pa comprobantes fiscales electrónicos UE 1169/201 report nfc-e einvo contabilidad electronica CFE comprobante fiscal electronico Portail Chorus compliance eAWB xml-cargo peppol edicom air iata e-cargo facturación electrónica IVA Cargo-XML EDICOMAir SUNAT Perú SEE Business Mail Payrolls recibos de sueldo EDI Auto b2g eprocurement IVA ELECTRÓNICO sii PCRDD SII AEAT Expert Analysis Switzerland NHS edi academy comercio exterior EDICOM LTA sat event TURKEY paperless OFTP EDI Web facture électronique dématérialisation fiscale carrefour colombia CFDI Nóminas DIAN México SAF-T VAT Poland DESADV ASN Fatture B2B Costa Rica Chorus Pro AIFE facture électronique en France Administration Publique en France facture électronique en Europe moda Italia interoperabilidad suministro inmediato de información european union digitalización settore sanitario openpeppol european einvoicing global einvoicing electronic invoice billentis report informe billentis factura electrónica ecuador edicom sii norway VAT compliance tax administration franco-german einvoicing españa air freight sector UNCTAD aviso de expedición Advanced Shipped Notice Despatch Advice peppol network peppol standards peppol european union chile tendencias interoperability interconexión chorus factuurcongress SINTEL Brasil interoperabilidade foreign trade nhs e-procurement strategy peppol access point e-procurement trends digitization digital transformation SaaS edicomsii MMOG/LE latam global einvociing cybersecurity EDI financeiro white paper factura electrónica colombia fintech Govein fashion eIDAS e-archiving ebimap SME EDICOMLta e-commerce EDI financiero russia fattura b2b B2B e-Invoicing GDPR RTIR FACe FACeB2B portugal blockchain ItalyNSO B2G e-Invocing business@mailPharma vat compliance ar EDIHOSP GOVEIN19 EDICOMSignADoc
Follow us on
