Imagine you want to employ someone in Australia (or another country of your choice).
Now, imagine you eventually employ 10 people in Australia plus seven in the UK, five in the Czech Republic, four in France and nine in the US. Suddenly, you have five different currencies to deal with on top of the usual payment processing tasks like paying the tax authorities.
Whether you’re operating a couple of people in disparate locations around the globe through an employer of record solution or managing a sizeable international footprint of employees, TopSource Worldwide can consolidate all your global payments through a single monthly invoice.
There’s no such thing as a simple payment when it comes to global banking, and managing multiple currencies is no mean feat. International payments involve several banks working in a chain behind the scenes, and countless things could go wrong along the way. Money (and we’re not talking petty cash here) could get lost or stuck at any point in this chain — every business’ worst nightmare.
The bottom line is you have two choices…
Either you invest in an in-house finance department — with experience of opening numerous bank accounts and dealing with multiple currencies — and use a foreign exchange provider.
You leverage the scale and expertise of a global payroll and payments provider like TopSource Worldwide to ensure your employees are paid on time, every time through one solution.