Having a global workforce can mean you’re a massive company with hundreds of locations all over the world. It could also mean you’re a small business who have hired remote workers who aren’t limited to working in the office, they can be based anywhere.
With the rise of technology, things like remote workers and a global workforce are much more common and have become easier to manage. However, one thing that is still a struggle is paying everyone in that global workforce. Elements such as dealing with different banks and payment systems can all get a bit much to manage – so what is the solution? International payments.
What is an international payment?
An international payment or global payment is a way in which employers are able to transfer funds from one country to another. Businesses can do this by using an international payment software from a provider which will allow employers to process their cross-border payments. Using a global payment software would enable companies to employ and pay remote workers from across the globe and grow their business by helping employers to send money to different locations as and when needed.
How can international payments help my business?
By signing up to an international payments provider it can open a lot of opportunities for businesses. Business owners would be able to expand and grow their businesses and develop in other countries as employers can pay staff wherever they may be based.
Alternatively, if you were a smaller business whose aspirations weren’t at spreading into the global market, you could use cross-border payments as a way to just expand your staff. With the development of technology and the increase in the use of systems like Microsoft Teams, the ability to contact everyone and anyone wherever they are is limitless, therefore the growth in demand for remote working has skyrocketed.
By using global payments, an employer would be able to have any applicant for a job take the job with remote working and pay them as any other employee no matter where they are based.
What are the benefits of using international payments?
When employers have the ability to use cross-border payments, it brings many benefits to their business. Flexibility is a massive advantage to employers when they start using international payments as it enables them to pay whomever, wherever and whenever suits them.
Another huge benefit to businesses is that with the development of technology and the rise in the use of apps like Microsoft Teams and Zoom, it is common to hire employees as remote workers. By using international payments for those remote workers, it means employers aren’t limited to employing people close to the business, employers can advertise new jobs to anyone and have a larger range of talent to pick from as they are no longer limited enabling employers to find their best candidates for the job.
Global payments are also quick and easy when using an international payments provider. Money can be sent instantly, just as it would be to employees physically in the business. This in itself is an attractive feature for a company as employees will have the comfort of knowing their money will get to them quickly and easily no matter where they are based.
How can I start using international payments for my business?
Here at Income Group, we offer a solution to international payments with our global payments service. If your company would be interested in expanding its capabilities in the modern era and start offering global payments, get in touch today.