04:05 GLOBAL
As businesses expand internationally, payroll providers face a range of challenges when making salary payments for their clients. These include navigating different regulations, managing currency fluctuations, and solving payment issues. Among these, errors that lead to payment failures are one of the most important as employees can be left with delayed salary or bonus payments if errors can’t be resolved quickly. Minimising errors in cross-border payroll processing
Author: Sam McIntyre Sam McIntyre is the Global Head of Enterprise Solutions at Currencies Direct, a leading international payments company founded over 25 years ago. With more than two decades experience in financial services, including 17 years specialising in international payments, Sam has spent recent years supporting global payroll businesses in delivering their time- critical payments with precision and reliability. Passionate about combining cutting- edge technology with exceptional human service, Sam is dedicated to creating seamless and outstanding client experiences. Click here to speak to an expert or visit LinkedIn .
P ayroll providers have an obligation to facilitate smooth salary payments for their client’s employees, so understanding the causes of payment failures and how to rectify these in a timely manner is crucial.
Why payments fail There are many reasons why payments can fail, including incorrect payee details, payments flagged during a bank’s compliance screening, or funds getting stuck with intermediary banks. All these issues
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GLOBAL PAYROLL MAGAZINE ISSUE 8
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