Jan 27, 2020 | Cash Management

Western Union Business Solutions & Global Expat Pay partner to expand your business horizons in Global Mobility

In this hyperconnected world, it is increasingly possible for companies to expand internationally and capture new business.

Many organisations see this opportunity and understand that to do so effectively, it becomes necessary to relocate talent across borders. Yet, when they realise the cost, complexity and inefficiencies that entails, many of them give up or scale down their mobility plans. 

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For many companies, talking about Global Mobility today carries connotations of financial and operational complexity... and certainly, can do. Although a small percentage of the entire workforce is usually relocated, the process of doing so can create an administrative burden. As a starting point, relocating an employee normally involves Human Resources, Finance, Legal, Payroll and other internal functions. There may also be a requirement that the company has knowledge of local taxes and currencies and needs to be up to date with the international and local regulations of different destination countries. An additional challenge could come from dealing with multiple external suppliers that work in silos. Unsurprisingly, this can result in inaccurate and isolated data, expensive international transactions, inability to track costs correctly, and above all, an impact on the relocated employees themselves.

Western Union Business Solutions has been working with payroll managers for years managing payments in multiple countries and currencies in support of their global mobility programmes. This enabled us to better understand the needs of employers as well as those of the relocated employees themselves and help dozens of them improve the experience and achieve cost and time efficiencies.

To further enhance this service, we have partnered with Global Expat Pay, a specialised mobility firm, to introduce a more comprehensive solution. This partnership will allow businesses to have better control of the data throughout the relocation process and execute international payments in a simpler and more efficient manner. Some of the key benefits are:

• Ability to send and receive payments to 200 countries and territories in 130 currencies with real-time quotes.
• Data Integration from multiple providers and systems in one place.
• Simpler reports and better cost control.
• Easier information transfer between global and local teams across functions: HR, Payroll, Finance, etc.
• Automation of key processes, such as data provision to suppliers, cross-collection reports, payroll instructions and tax authorisation lists. This helps reduce errors manual efforts and free up resources.

We want more companies to expand, to grow internationally and to help them strengthen the bond of trust with expatriate employees. That is why your feedback is so important to us.
Please share your thoughts and experiences, request a demo or schedule time with one of our global mobility experts by sending an email to enquiriesuk@westernunion.com.

Ashley Phillips
Head of Pension and Payroll at Western Union Business Solutions

Next February 11th, we will be presenting the solution to a large group of Payroll Managers at the European Super Huddle in Amsterdam, organised by Expat-Academy.