Global Payroll

Payroll without borders: Transforming International Payroll with SingX.

In today’s global economy, managing international payroll has become increasingly critical. The rise of remote work, multinational teams, and the drive to centralize salary payments for better efficiency and compliance have made robust global payroll solutions essential. Businesses need seamless methods to compensate employees across multiple countries while navigating complex local tax regulations, currency conversions, and varying banking infrastructures.

Common pain points include inconsistent processing times, excessive transfer costs, compliance risks, and hidden deductions in cross-border payments.

SingX’s comprehensive payroll solution ensures timely, accurate, and cost-effective salary disbursements while maintaining compliance with local labor laws-helping companies manage international payroll efficiently and keeping employees satisfied.

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Common Challenges

How can we minimize the significant salary losses our international employees face due to unfavorable exchange rates and deductions when receiving USD payroll converted to local currencies?

SingX offers a customized local currency payroll solution tailored to each employee’s country. Our system ensures they receive their full earnings at competitive exchange rates without unnecessary losses during conversion. We also provide a detailed invoice for complete transparency on USD sent, conversion rate, and local currency received, reducing your payroll transaction costs.

Even when we send full USD salaries marked as “OUR”, our employees sometimes receive less due to unexpected deductions. How can we guarantee our employees receive the exact USD amount we intend to pay?

SingX’s SWIFT FullPay Solution guarantees full-value USD transfers with zero deductions. This ensures your employees receive their complete salary as intended, eliminating frustration and discrepancies.

Collecting and managing employee banking details for global payroll is a time-consuming and error-prone process. Does SingX offer a solution to streamline this?

Yes, SingX provides a customized co-branded self-service portal where employees can effortlessly update their banking details. This reduces your operational effort and risk, empowering employees to manage their payment information securely.

Processing bulk payroll for our global workforce is complex and time-sensitive. How can SingX simplify and expedite this process while minimizing errors?

SingX offers Bulk Payments and API integration solutions that allow you to streamline high-volume salary disbursements. Simply create the payment file, and SingX handles the rest, ensuring zero payment rejections through thorough validation and seamless processing to pay your employees quickly and accurately in one go.

Beyond reducing employee losses, how can SingX help us lower our overall global payroll processing costs?

SingX’s efficient local currency conversion with competitive rates directly reduces the hidden costs associated with exchange rate markups. Additionally, our automated self-service portal and bulk payment solutions minimize manual administrative overhead, leading to significant savings in your payroll operations.

How can SingX help us increase transparency in our global payroll process and improve employee satisfaction regarding their pay?

SingX provides detailed invoices for local currency payments, clearly outlining the USD sent, the conversion rate, and the final local amount received, fostering trust and transparency. Furthermore, our SWIFT FullPay Solution ensures employees receive the exact USD amount intended, eliminating frustrating deductions and boosting satisfaction with their compensation. The user-friendly self-service portal also empowers employees with control over their payment information.

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About SingX

SingX is a neobank headquartered in Singapore. Established in 2014, we are licensed as a Major Payment Institution by the Monetary Authority of Singapore-enabling us to hold funds, facilitate currency conversions and process global receipts and payments with speed and efficiency. We are also licensed in Hong Kong and Australia.

Safe, Secure and Fully Regulated

Operating under stringent regulatory oversight, in three of Asia's leading financial hubs, SingX partners with top-tier banks to ensure a secure and reliable financial infrastructure. Our advanced technology platform is built for both security and ease of use-delivering a seamless user experience.