WALLDORF, Germany--(BUSINESS WIRE)--For those who are late in their SEPA preparations, TIS is offering a "SEPA Last Minute Health Check" (www.tis.biz). Along with their SEPA "out-of-the-box" cloud solution, TIS offers a software package for rapid and risk-free SEPA migration.
According to the results of a current survey conducted by "Fachhochschule des Mittelstands (FHM)" and Commerzbank, only 24 percent of German companies have completed their SEPA preparations. Companies that are inadequately prepared should anticipate heavy penalty fines for non-compliance with the new legislation. TIS is offering companies the diagnosis and the cure: The SEPA Last Minute Health Check is a simply survey online that pinpoints what needs to be done, with the offer of a personalised phone consultation, free of charge. The TIS SEPA "out-of-the-box" solution solves any SEPA migration issues, with the set of tools needed for a rapid changeover.
All EU member states were required to inform the European Commission about the extent and degree of violation sanctions to be implemented by mid 2013. Some EU countries still have a long way to go before they could report this information. As a result, uncertainties loom across the EU regarding what penalties will be applied for non-SEPA compliance. According to estimates of the European Commission, each defective SEPA transaction will cost a company an average of 50 €. Added to this are the negative effects on the customer and supplier level as well as the problems relating to untimely payment of salaries.
With the free "SEPA Last Minute Health Check " from TIS, companies can quickly and easily take the survey online on the TIS website, and request a complimentary phone consultation to discuss the current state of their preparations and what needs to be done. For all the companies that have not passed the check, but have decided to purchase the TIS solutions TIS will provide a "SEPA Readiness Guarantee". For those who still have preparation gaps, workaround solutions can remedy the situation on a temporary basis for formatting or mandate management.
As an alternative to makeshift solutions, TIS offers a SEPA "out-of-the-box" solution than can be implemented quickly without long tedious IT projects. As a multiple-bank-compatible platform, the TIS-SaaS solution effectively connects ERP systems, the central treasury in the company and the existing network of banks. It processes all major bank connection protocols, channels (Host-to-Host, SWIFT or EBICS) and formats and automatically converts these to conform to the applicable SEPA guidelines. An integrated Direct Debit mandate management system centrally monitors and controls all global mandate processes. That means higher visibility and transparency as well as the possibility to control all payment procedures from one central platform. Jörg Wiemer, CEO of TIS: "With our SEPA "out-of-the-box" cloud solution, companies can easily master the challenges presented by SEPA – even at the finish line!"
In cooperation with Deutsche Bank, TIS will also host a webinar regarding SEPA in the third week of February 2014. More information and registration details can be found at www.tis.biz.
About TIS
TIS is the leading cloud platform for payment transactions, liquidity management and bank relationship management by companies. TIS makes payment transactions by companies more efficient, more secure and more economical. All processes associated with payment transactions – including liquidity management, transaction status, signing authorisations and bank fee management – are built into one single multiple-bank-compatible, audit-proof platform. TIS takes care of the differences in payment formats, communication channels with the banks and the ERP integration. TIS solutions are offered as Software as a Service (SaaS) and can therefore be rolled out rapidly and without the complexity and costs generally accompanying tedious IT projects. As an official SAP partner, TIS is certified to ISO Standard 27001 (information security).
