European payment processing

2012

The processing of orders and payments is still very complex and only standardized to a small degree at European consumer goods companies. Not only local legal and fiscal requirements complicate payment processes in Europe, heavily fragmented data systems also cause significant disadvantages and unnecessary costs. Internationally standardized payments could lower the process costs by up to 20% and greatly reduce the amount of errors.

Early and well-coordinated payments also improve the liquidity situation and working capital of companies. These are the most important findings of this study entitled "European payment processes – Improving efficiency and lowering costs".