Managing employee payroll in multiple countries brings many challenges, but one of the largest hurdles is global money movement. Each country has specific payroll and statutory payment regulations, as well as banking and currency requirements. If you need in-country bank accounts and currency conversion to pay employees across countries, your payroll funding can quickly get complicated.
The first step to simplifying payroll funding and money movement across countries is to look at your current operations. Do you understand what you are paying for currency conversion? Can you fund payroll in your current currency and settle in the local currency? Getting control of your payroll funding is key to reducing unnecessary costs and resources related to moving money across borders.
Author – Blue Marble Payroll