As the size of your international workforce incrementally grows the time needed to process overseas salaries will follow suit. Ensuring salary payments are made consistently in multiple locations can be challenging, especially when facilitated through a retail bank, many of which will have very little interest in providing tailored or appropriate solutions to medium sized enterprises.
Often sending money to multiple locations in numerous currencies can prove problematic; Delays can arise and supplementary charges can be gathered along the way, meaning that the contractual salary the employee is due will be short.
Businesses face their own sets of challenges, especially with financial logistics. Often it proves challenging for the company to effectively manage another company’s payroll and keep track of the businesses cash flow and profitability.
Thankfully many of the leaders in the international payments sector have developed a number of solutions which allow you proactively manage mass payment runs, notably international payroll.
Aside from the hours your payments clerk will save when making international payroll payments to your overseas staff, there are a number of points which will beneficial to both your company and employees.
Currencies Direct; a leader in the international payments sector offers a solution to allow the fast expedition of multiple payments. The one-stop platform solutions allowing a payments clerk to upload a dozen if not hundreds of payments in a multitude of currencies. Allowing the correct salary amount to be sent to the correct destination in a timely fashion.
The platform allows companies to send payments to in excess of 120 countries in over 60 foreign currencies, meaning the most diverse of business operations can be easily catered for. The system is also flexible enough to be used for other types of multiple payments, for example, royalties or travel payments. As with a standard international business account, a multiple payments facility can be opened online or via phone at your convenience.
Currencies Direct prides itself on performing international business payments simple, swift and secure since 1996 and boast a portfolio of over 250,000 clients who make international payments for a number of reasons. They have enjoyed a number of accolades including the Money Age Awards – money transfer provider of the year.
Their client’s satisfaction levels are also highlighted on Trust Pilot where they have enviable customer satisfaction feedback, offering you complete peace of mind when transferring your company fund via their platform or telephone dealing service.
A Currencies Direct multiple payments account can be opened in much the same way as opening a bank account. The process should only take a few hours providing the appropriate paperwork can be sourced and typically breaks down into three stages.