Putting It Together: Making Sense of Moving Markets
September 18, 2006
On Monday September 18th TWIST organized a meeting concerning Making Sense of Moving Markets. At this event the latest status of the Single European Payments Area (SEPA), the necessary standards for plug-and-play interfacing with SEPA and the delivery of straight-through commerce were discussed.
There was much focus on the opportunities that the forthcoming market changes will provide to corporates, and pro-active banks and service providers. We would like to thank all those that attended for their constructive participation, to include our guest speakers, John O’Hara, VP and Distinguished Engineer, JPMorgan (see videos), David Deacon, European Commission – DG Internal Market and Services (see videos), Peter Guldentops, Programme Director, TWIST (see videos) and Chris Skinner, CEO, Balatro Ltd.
During Monday’s meeting, 9 participants volunteered for driving pilots in the coming months that can demonstrate the value of implementation of TWIST standards. We are very pleased to mention that within 24 hours after the meeting, we have already received a detailed proposal, involving two service providers, 1 bank and 2 major corporate customers of their services. We welcome further proposals for pilots in the next few weeks. We will then help structuring these pilots and organize the required support from TWIST with regard to pilot co-ordination, engagement with third parties, design input and marketing of results.
Given the timeline of SEPA and the benefits supply chain automation provides, we see that it makes sense accelerating the execution of pilots that enable early market access for first movers and sets the scene for SEPA implementation. For those who would indeed take the lead in the implementation of SEPA and corporate-driven supply chain automation, we extend the invitation to come forward with proposals for participation in TWIST pilots and provide us with the following information:
- The business objective you have with participating the pilot
- The business issue you would like to address (e.g. corporate to ACH connectivity for payment instructions; automation billing of bank services; automatic reconciliation of accounts receivable, etc.)
- The corporate / bank you will be able to engage
- The availability of resources from your own firm
- Required resources from others (specified) in the pilot
With this information at hand, we will be able to plan multiple pilots and structure them in a manner that maximizes their ability for your business objectives to be met. We expect to start the first pilots before the end of October.
Peter Guldentops and Tom Buschman are available for one-to-one conversations about the matter if required.
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