The SEPA Consultancy to Publish Service Bureau Report 2011
The SEPA Consultancy plans to release a report on service bureaus in late January 2011. The Service Bureau Report 2011 sets out today’s multi-relationship, multi-currency cash management requirements and the service models expected from the different segments of the corporate market. Corporates are looking for ways to manage their liquidity requirements more effectively and improve business processes.
The services, accessibility and reach offered today by the SWIFT network and its partners promote greater corporate access, which makes economical sense for both banks and corporates in a rare coincidence of interests. Corporates want a cost effective solution based on a single integrated connection to their many banking partners and one that gives them greater control and visibility of their cash positions and transactions.
When it comes to SWIFT connectivity, a service bureau is an increasingly popular choice but the market has a diverse mix of providers – from those focussed on domestic and basic services around connectivity, to those that now look to widen their SWIFT-based services to deliver business requirements on a global scale. The role of a service bureau is under scrutiny and the report analyses this sector of the financial services business.
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“The publication of the report is timely given the surge of interest in the current and future development of the bureau market,” said Gary Wright, director, business development of The SEPA Consultancy. “When it comes to connecting to SWIFT, service bureaus lead the way, with over 80% choosing this route, but the challenge is to look beyond providing connectivity. More value has to be built into the bureaus proposition with a wider range of services offered that make economic sense. The issue is how to derive the value and unravel the complexities of choice, selection and risk.”