Read the latest Paysend articles","text":"Stay up-to-date with the latest news, insights and more.","isMobileBtn":null,"note":null,"img":null,"color":{"id":204,"bgColor":null,"titleGradient":"aubergine01","titleColor":null,"whiteText":null},"btn":null,"btn_mobile":null,"bgImg":null,"btnDemo":null,"extra_button":null},"tiles_section":[{"id":520,"title":"About","subtitle":"We’re a global FinTech company on a mission to change how money is moved around the world.","variant":"colored","size":null,"imgTop":null,"fullwidth":null,"btn_title":null,"url":"\/about-us","add_country_lang_inside_link":null,"enabled":null,"img":null,"color":{"id":878,"bgColor":"aubergine01","titleGradient":null,"titleColor":null,"whiteText":null}},{"id":521,"title":"Culture","subtitle":"Discover your potential, own your growth, shape your future.","variant":"colored","size":null,"imgTop":null,"fullwidth":null,"btn_title":null,"url":"\/culture","add_country_lang_inside_link":true,"enabled":null,"img":null,"color":{"id":879,"bgColor":"aubergine03","titleGradient":null,"titleColor":null,"whiteText":null}}],"seo":{"id":190,"metaTitle":"Paysend Blog: Stay Ahead with Paysend\'s Latest Insights!","metaDescription":"Dive into the future with Paysend\'s blog, exploring cutting-edge ideas and trends shaping the world of payments and finance. Stay updated and informed.","ShareImage":null}},"articles":{"data":[{"id":297,"title":"Streamline Global Payroll with Paysend Enterprise","date":"2024-12-23","video_url":null,"description":"
Managing global payroll can be a daunting challenge. From complex tax regulations to fluctuating exchange rates, businesses often find themselves juggling compliance and costs—all while striving to keep employees paid on time. That\'s where Paysend Enterprise steps in. We simplify global payroll by offering fast, secure, and efficient solutions that minimise risks and keep you compliant with local regulations. In this case study, we\'ll explore how Paysend tackles the common challenges of international payroll, helping businesses streamline their operations and boost efficiency.<\/p>
Common challenges in Global Payroll<\/h2>
Global payroll management brings unique challenges, from navigating local compliance to handling diverse payment methods—all of which can impact efficiency and drive up costs. Let’s break down these hurdles and explore how Paysend’s innovative solutions help businesses stay ahead.<\/p>
Compliance with local regulations:<\/strong> Every country has its own tax codes and labour laws. Ensuring compliance with these varied and often complex standards can be overwhelming and risky for businesses operating across borders.<\/li>
Exchange rate fluctuations:<\/strong> Currency fluctuations can make managing payroll unpredictable, potentially leading to unexpected losses during currency conversions.<\/li>
Local payment methods: <\/strong>Payment methods vary widely across regions, requiring businesses to adapt and integrate various payment systems to meet local requirements.<\/li>
Timeliness:<\/strong> Timely payroll processing is critical to employee satisfaction, but managing fast, accurate payments on a global scale is no small feat.<\/li>
Integration of payment systems: <\/strong>Integrating various payment technologies and systems across different countries can disrupt workflows and lead to inefficiencies in payroll operations. <\/li><\/ul>
Paysend\'s solution to Global Payroll challenges<\/h2>
Paysend provides an all-in-one platform designed to tackle the complexities of global payroll. Here’s how we simplify international payroll management:<\/p>
Diverse payment methods:<\/strong> Paysend supports multiple payout options, including instant payments to Visa, Mastercard, and UnionPay cards and direct bank transfers worldwide. This flexibility ensures employees receive their payments in a way that suits their region.<\/li>
Speed and accuracy:<\/strong> Our platform ensures payments are processed swiftly and with precision. This reduces delays, minimises errors, and keeps your payroll operations running smoothly.<\/li>
Regulatory compliance: <\/strong>Paysend ensures full compliance with both local and international financial regulations, including stringent data protection laws. You can trust that every transaction is secure and fully aligned with the latest legal requirements.<\/li>
Transparent exchange rates: <\/strong>We provide competitive and transparent conditions by tying exchange rates directly to payment schemes. This helps businesses mitigate the risks of currency fluctuations while optimising costs.<\/li>
Cost efficiency:<\/strong> Paysend offers competitive fees for international transactions. Our scalable pricing structure means even greater cost savings for businesses with higher payment volumes, enabling you to reinvest in growth.<\/li>
Global infrastructure: <\/strong>Our extensive network of global banking partners ensures reliable and timely payments, regardless of where your employees are located.<\/li>
Transaction monitoring: <\/strong>Our platform includes robust transaction monitoring tools. This allows businesses to identify and resolve any issues immediately, maintaining trust and efficiency in payroll processes.<\/li><\/ul>
Seamless implementation<\/h2>
At Paysend, we believe that managing global payroll should be straightforward and stress-free. That’s why we’ve designed our platform with usability at its core. Featuring an intuitive interface and a powerful API, Paysend integrates seamlessly with your existing systems. To ensure a smooth transition and ongoing support, every client is paired with a dedicated account manager backed by our customer service team. Managing and optimising your global payroll has never been easier.<\/p>
Results and impact<\/h2>
Using Paysend, companies can transform their global payroll operations, achieving measurable improvements in efficiency, accuracy, and cost savings: <\/p>
Faster processing:<\/strong> By leveraging various payout methods, including cards and bank transfers, businesses can increase payment processing speed by up to 50%, ensuring timely payments and improved employee satisfaction.<\/li>
Reduced errors:<\/strong> Accurate payment processing reduces the likelihood of processing issues by up to 30%, enhancing operational efficiency and preventing costly mistakes.<\/li>
Regulatory compliance: <\/strong>Paysend ensures that all international transactions comply with local and international financial regulations, reducing legal and compliance risks.<\/li>
Optimised exchange rates: <\/strong>Transparent and competitive exchange rates make international financial operations more cost-effective, improving the bottom line and strengthening trust in the company.<\/li>
Lower operational costs: <\/strong>Paysend’s competitive transfer fees allow businesses to cut operational expenses by up to 20%. The savings can be reinvested into other areas of growth, from expanding teams to scaling operations. <\/li><\/ul>
Unlock the power of seamless Global Payroll with Paysend<\/h2>
Paysend isn’t just a tool — it’s a strategic partner in managing global payroll with precision and ease. By offering diverse payout methods, swift and accurate processing, regulatory compliance, transparent exchange rates, and cost savings, Paysend helps businesses reduce payroll-related risks, improve employee satisfaction, and boost financial stability.<\/p>
In today’s fast-paced global economy, staying ahead means leveraging innovative solutions. Paysend’s Enterprise platform streamlines payroll operations with advanced tools designed to save you time and reduce costs. By addressing key challenges, we empower your business to grow confidently in a global market.<\/p>
Take the next step toward effortless global payroll management. Contact us today to discover how Paysend can simplify your operations, save you time and money, and keep employees happy — no matter where they are.<\/p>
All ArticlesHow we use an agile approach and company-wide demo days to empower all of our teams
How we use an agile approach and company-wide demo days to empower all of our teams
2022-06-30
All articles
Digital Money
At Paysend, we have a team spread out across 38 countries, building products to delight our 7 million customers around the world.
Having a remote and distributed team means that we need to put in place rituals to ensure that everyone in our team shares a common understanding of our product strategy and priorities, so that they can make the best decisions day to day on behalf of our customers and the company.
We would like to share one of our most important rituals, which is our monthly company Demo Day.
Before getting to our demo day, it’s important to know how we think about building products at Paysend. Every year we renew our company product strategy based on what we have learned over the past year: this includes our successes; our failures; new strengths we have acquired; and new opportunities that have opened up in the market. The outcome is a product strategy document that we share and discuss with the whole company, and something we give to new team members so that they have complete clarity on what we’re trying to achieve.
We then break this strategy apart into distinct and non-overlapping goals (we use the OKR framework at Paysend) and then create teams of Paysenders who then take ownership of identifying how to achieve these goals. These teams then fully absorb themselves in their assigned areas, and then work tirelessly to deliver for our customers.
However, when teams fully absorb themselves in their own areas, they can sometimes lose touch with what other teams are doing. This can lead to teams making product decisions that contradict one another; teams creating experiences that are not coherent with each other; or teams duplicating work. As a result, we needed to find a way to allow teams to come together regularly to understand what is happening across the company - therefore allowing teams to share ideas and feedback; and find opportunities to work together more efficiently.
While regularly demoing work is a common practice, and part of standard SCRUM rituals, they can become harder to manage as teams grow in size, and therefore can stop happening. Despite this, and having some unique challenges being a remote-first and distributed team, we decided that a Demo Day is crucial for our teams to stay close to one another, and deliver our product strategy together.
We launched our first company Demo Day in February, which is run monthly by Ksenia in our People & Culture team. Here are some of the things she has found are important in making them successful.
Have an overall narrative or story to tell in each session.
Ask all Paysenders who demo to start with explaining how what they’re doing contributes to Paysend’s product strategy and OKRs.
Make sure there is an environment where people can be open and receptive to feedback Each Paysender is considered an owner of our products and is equally responsible for their quality to the user. As such, we decided to expand the standard scope of SCRUM rituals and make the demo open to the entire company, where each employee can share feedback, offer ideas or talk about problems he encountered when using it. Fundamentally the we believe that the best ideas can come from anywhere and this is how we strive to make sure everyone can have a voce. We feel that this is incredibly cool! Everyone at Paysend has an impact on development, and everyone is openly sharing their opinions in order to get the best possible results.
Show real things Our Demo Days, stay true to their name, they are all about showcasing real changes in real products; test environments or production. We are not focusing on theory and presentations but instead focus on sharing the results of work and building the road map of future development.
Talk about the people behind the thing being demoed. Getting to know your team is just as important as getting to know the product. Fundamentally we want to hit the aggressive targets we set, but we don’t limit ourselves to tactical goals. During each Demo Day, we share details about our products and the teams that create them. We share achievements and challenges, which helps everyone level up their understanding as well as increase the likelihood of finding great solutions that can delight our customers. This is the essence of striving for excellence at Paysend.
Working remotely definitely means that people in the company have to try harder to communicate and build up their networks. Typically colleagues may face each other only when they have common tasks. If you don't have cross-functional work with other departments then most likely you may not know other colleagues or understand what they do. This is why joint events and activities are so important to us at Paysend.
Talk about the impact and challenges. The world does not stand still, which is why it's so important to adapt quickly to changes, improving our products in time to make users happy. It's events like these that help us learn more about user needs and make Paysend products better, guided by our product missions and our principles.
And here are some of the things our team says about our Demo Day:
I love fintech and am a bit entrepreneurial. I'm in Sales so it definitely gives me a better pitch and understanding of our vision, demo days give me more detail into every product we have and how they are made.
I do think the demo days are useful for the wider business to see what we're building for customers. It should be motivating for them and make sure we're all aligned on the future of the business.
In my opinion, the demo days I have experienced have been a great way to showcase how other parts of the business operate. They introduce us to teams we might not work with and together we explore how different solutions work.
I think it's very useful and it helps ensure we move quickly and source great ideas from different perspectives. My colleagues text me and say, “that was interesting, have you explored this?” - that's what this is all about.