CloudPay, the pioneer of SaaS-based payroll automation for multinationals, today announced details of its strategic alliance with Western Union Business Solutions and the release of a joint service offering that sets new high standards for the way multi-national organizations compensate their global employees.
As more organizations expand internationally to leverage the global labor market, many are faced with a multitude of challenges when compensating their international employee base. They typically use multiple banking platforms that can increase bank charges and transaction fees and have relationships with several different banks, each with different procedures and data management processes. In addition, they may often be forced to perform key functions manually, increasing administrative burden and time spent on payroll. These complex procedures can lead to mistakes and high costs (in time, exchange rates and transaction fees), as well as difficulty in tracking payments and a plethora of compliance issues.
CloudPay and Western Union Business Solutions have developed an automated payroll payments solution that limits these challenges and enables a unified approach for all payments, tracking activities and data management. The solution also allows multi-national organizations to simplify reconciliation, reduce costs and administrative processes while helping to overcome language and cultural barriers. All payment services will be accessed through Western Union Business Solutions’ extensive online payment platform, GlobalPay, which helps organizations provide timely and accurate payments to their staff. Most importantly, organizations will gain greater visibility into their global payroll payment processes, which leads to more efficient operations and reduced costs.
“Payroll is one of the most significant investments a company makes. As more organizations expand internationally, the need to manage global payroll payments efficiently and transparently will also grow,” said Kerry Agiasotis, Chief Commercial Officer, Western Union Business Solutions. “By working with CloudPay, a leading provider in the global payroll space, we have developed a cutting edge solution that provides clients with a real differentiator that will help them drive success.”
“As our two organizations are both on the top of our respective fields and share a commitment to providing multi-national organizations with solutions that deliver greater operational efficiencies, and real cost savings, the decision to partner with Western Union Business Solutions was a clear choice,” said Andrew Pearson, CEO of CloudPay. “Through the solution, we are able to deliver precisely what customers have been asking for a comprehensive outsourced global payroll and payments solution that handles the combined payroll and payment function from start to finish.”
CloudPay’s pioneering Software (cloudpay.net) as a Service technology and extensive payroll expertise helps organizations streamline global payroll operations, increase efficiencies and benefit from unprecedented business insight and intelligence. Recognized by Gartner as a Cool Vendor and by Everest Group as a Major Contender in Multi-Country Payroll Outsourcing, CloudPay is setting the standard for multi-national payroll management.
About Western Union Business Solutions
Western Union Business Solutions enables companies of all sizes to send and receive international payments and manage foreign exchange, creating unique solutions tailored to suit their individual needs. It is a business unit of the Western Union Company (NYSE: WU), a leading nonbank provider of cross border payments, which operates its Business Solutions services through locally licensed affiliates and partnerships in over 30 countries. Clients are supported by a network of trading offices, strategic banking relationships and a global clearing network and can send cross-border payments in more than 135 currencies.
About Western Union
The Western Union Company (westernunion.com) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of June 30, 2013, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of approximately 520,000 agent locations in 200 countries and territories and approximately 115,000 ATMs. In 2012, The Western Union Company completed 231 million consumer-to-consumer transactions worldwide, moving $79 billion of principal between consumers, and 432 million business payments.
Trademarks and registered trademarks referenced herein remain the property of their respective owners.
Western Union Business Solutions is a division of The Western Union Company. Services in the UK are provided by Custom House Financial (UK) Limited (which does business under the trade name of Western Union Business Solutions) or Western Union Business Solutions (UK) Limited (collectively referred to as “WUBS” or “Western Union Business Solutions”).
Custom House Financial (UK) Limited (registered in England, Company Number 04380026, Registered Office Address: 2nd Floor, 12 Appold Street, London EC2A 2AW) is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009 (Register Reference: 517165) for the provision of payment services and is registered as an MSB with HM Revenue & Customs (Registered No: 12140130). Western Union Business Solutions (UK) Limited (registered in England, Company Number 02854737, Registered Office Address: 65 Kingsway, London, WC2B 6TD) is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009 (Register Reference: 536611) for the provision of payment services and is registered as an MSB with HM Revenue & Customs (Registered No: 12122416).
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