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WHITEPAPER: Accelerating Global Payments in an Accelerated Global Economy
Making global payments to partners can be challenging, but they are what keep incentive, rebate, and royalty programs running in an international economy. Clients need a smart, reliable service capable of handling the complexities inherent to the payment ecosystem while being able to execute payments to their partners quickly and accurately.
Although global payment revenues totaled $1.9 trillion in 2018, most companies are still not set up to make time-sensitive and secured global payments to a large number of recipients typically associated with partner rebate and incentive programs. Global payments can be labor-intensive and costly, requiring special expertise to meet the various government, anti-corruption, and banking standards across multiple countries and currencies.
Staying in compliance with various regulations (government, financial, tax, anti-corruption) are critical components of any financial program making payments to global partners. A financial model lacking these compliance regulations, along with having an ineffectual reporting system or comprehensive auditing structure in place, is doomed to fail. So what is needed to ensure a compliant, effective, and secure global payment process between you and your partners?
With the increasing demand and subsequent rise of global payments and a robust payment ecosystem to support it, the case for updating your payment process with a software that touts well-rounded financial capabilities, introduces a compliance guarantee, and elevates program visibility is not only relevant, but it adds value and equips teams and partners for success.
Although global payment revenues totaled $1.9 trillion in 2018, most companies are still not set up to make time-sensitive and secured global payments to a large number of recipients typically associated with partner rebate and incentive programs. Global payments can be labor-intensive and costly, requiring special expertise to meet the various government, anti-corruption, and banking standards across multiple countries and currencies.
Staying in compliance with various regulations (government, financial, tax, anti-corruption) are critical components of any financial program making payments to global partners. A financial model lacking these compliance regulations, along with having an ineffectual reporting system or comprehensive auditing structure in place, is doomed to fail. So what is needed to ensure a compliant, effective, and secure global payment process between you and your partners?
With the increasing demand and subsequent rise of global payments and a robust payment ecosystem to support it, the case for updating your payment process with a software that touts well-rounded financial capabilities, introduces a compliance guarantee, and elevates program visibility is not only relevant, but it adds value and equips teams and partners for success.
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