Implementing An International Payment Solution

Managing international payments is never easy: let activpayroll’s solution enhance the performance of your process!

As a growing number of businesses expand to new locations across the world, the need to manage international payments also increases dramatically. International payments don’t just include employee salaries and wages, but a variety of statutory and third-party payments - a factor which makes developing an effective payments solution a complex challenge, and one which traditional banking methods may fail to overcome.

Why do you need a payment solution?

Conducting business on a global scale means getting to grips with a range of legislative environments, and the considerable logistical issues of coordinating with departments and employee populations in different corners of the world. Amongst those global challenges, payroll departments can expect to struggle with:

  • Incorrect and late payments to employees and third parties
  • High costs and transaction fees imposed on international banking customers
  • Lack of transparent pricing by banking institutions and unidentified intermediary charges
  • Complex or insufficient reconciliation processes
  • Difficulties tracking payments due to complex fund routing
  • Penalty charges as a result of regulatory non-compliance

How can we help?

Our international payment solution helps organisations of every shape and size tackle the types of global business challenges listed above. Developed and implemented by global payroll experts, our solution is designed around a range of key features:

  • Delivery of payments on a global scale - from a single, centrally-funded account
  • Access to local clearing systems
  • Net, statutory and third-party payments with low to no transaction fees
  • Competitive foreign exchange rates
  • Guaranteed credit amounts to beneficiaries
  • Funding options in all major currencies - in particular EUR, GBP and USD, matching the functional currencies preferred by most customers

What are the benefits of activpayroll’s solution?

Our international payment solution provides customers with a reliable, accurate platform to facilitate payment of employees and third-parties in countries across the world, irrespective of location or recipient bank. The specific benefits of the activpayroll solution include:

Payment Routing

How do we ensure compliance?

Given the complexity of international tax and payroll legislation, we make compliance a key factor of our international payment solution. The measures we take to ensure compliance include:

Periodic Reviews

Information Sourcing

Payment Methods

How do we build your solution?

To meet the unique needs of businesses and their employees, we tailor our international payment solution by conducting a thorough review of their global profile. That review involves establishing an overview of the countries which the solution needs to serve, and the volume and value of the payments which need to be processed.

Our review process is designed to set accurate and early expectations of what the payment solution can deliver - and ensure we have the information we need to be competitive. Reviews are conducted on a non-name basis in conjunction with payment providers to ensure we deliver the best rate possible for our customers.

Case Study: International IT Company

A multinational US-based IT company needed to implement payroll for an employee population deployed over 23 countries, in 9 currencies, from a central account funded in Euros.

The solution needed to cover salary payments, statutory, third-party payments - and manage multiple payment dates, including a variety of important payroll sign-off dates.

Using one funding payment per month from the customer, activpayroll took responsibility for making all international payroll payments on time, managing dates and deadlines via our global payroll platform.

Our solution delivered significant savings on foreign exchange costs and transaction fees. It also generated a suite of payment reports, including statements and reconciliation provided on the first working day after the month’s end.

What next?

If you’re preparing to expand your international footprint, or seeking to optimize your existing payment solution, it’s important that you explore your options.

To learn more about our global payroll expertise, and how our international payment solution could work for you, contact us here.