The U.K.’s IRIS Software Group and Western Union Business Solutions are teaming up on a five-year international partnership “to offer simplified payroll and payments solutions worldwide.” In a press release on Monday (May 17), the companies said they would serve the growing demand for cross-border payroll and currency payments for global organizations.
The business solutions division is Western Union’s payments arm, which includes cross-border, cross-currency money movement and payments. The division enables organizations to send, receive and manage international payments through its worldwide network that spans 200 countries and territories.
Privately held IRIS said it is the U.K.’s largest software company, and that its fully managed payroll services take in about 20 percent of the U.K. workforce. The release added that IRIS provides software products and services for finance, human services and payroll teams, educational organizations and accountancy firms. The company has more than that 100,000 customers in the U.K. and internationally.
David Munn, director of international payroll services for IRIS, said, “Working with a trusted partner brings swathes of security for customers, as both parties understand the challenges of global payroll and payments in both mature and emerging international markets.”
Frederic Simon, regional vice president for Europe at Western Union Business Solutions, said that “globalization, increased legislation and the acceleration of digital technology are propelling multinational and global organizations to reimagine their payroll operations.” He added that companies “need to ensure they can pay international employees on time, in the right currency, with confidence and ease.”
Earlier this year, Western Union announced it was expanding its international currency options. “We are continuously advancing our capabilities to give our clients the tools to access the growing global marketplace,” Scott Johnson, head of product at Western Union Business Solutions, said at the time. “Customers expect, and now have, payments that are faster, traceable, transparent, consistent and more reliable. We give them that, along with our global compliance program.”