What is Global Disbursement and Why Does it Matter for Businesses?
January 6, 2021
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What is global disbursement? If your business has partners, contractors, or venders in different countries, this is a term you need to be familiar with. Understanding the ins and outs of global distribution is an important part of running a modern business. Unfortunately, too many businesses have not taken advantage of the benefits that come from using international payments effectively.
Without mastering the art of international payments, your business could be missing out on key revenue streams and cost efficiencies.
Global disbursement, in a nutshell
Global disbursement is necessary to capture a healthy gross profit. It’s the ability to make payments and send funds to different destinations around the world, no matter the country, currency, or amount. These payments are made to entities like contractors, suppliers, and customers, paid for a wide variety of products and services rendered, including inventory, wages, and other supplies—all of which keep the wheels turning smoothly.
Regular international payments are a major sign you’re doing business at a global scale. Conversely, if global disbursements aren’t at the core of your business, you’re not tapping into entire markets of both consumers, contractors and partners. It could be stymying your long-term success and growth.
To compete in a global marketplace, businesses need to handle their disbursement of funds timely and accurately, not to mention securely. Nothing is worse for business than fraudulent transactions or data breaches worming their way into your organization. With easy access to disbursement of funds, every transaction moves quickly and efficiently through the operational process. This keeps the gears of your business turning.
The simplicity of modern global payments
Today, borders are growing thinner and thinner for businesses. Ecommerce has made it possible to sell around the world, and the growing options for global payments are making it easier for businesses to tap into a broader workforce. At the center of both is the ability to make payments across countries and currencies.
Modern payment solutions are making global disbursement easy. They offer features like currency conversion and real-time funds tracking, as well as one-click pay and scheduled payments. These features not only help business owners send money around the world—they make it simple and efficient to tap into global resources.
Disbursements of funds across borders creates value for both B2C and B2B businesses. With an integrated platform, international payments can generate real gains for your business.
What can international payments do for your business?
International payments open up new opportunities for businesses to compete effectively. By unlocking markets previously untapped or wholly inaccessible, a business stands to grow immensely in little time. It starts with the ability to send money around the world and make international payments.
- Contract talented professionals around the world.
- Partner with cost-efficient suppliers in other countries.
- Align with vendors in multiple countries to build supply chains.
- Tap into a new marketplace of customers in another region.
- Have the capability to do business in new international markets.
International payments are an avenue for growth, no matter who you’re sending money to. To facilitate effective global disbursement and the benefits that come with it, businesses need a payment provider or payment software that simplifies the transfer of funds.
Ease of use means less headache involved when handling disbursements between currencies and countries. Businesses spend less and do more by avoiding complex transactions, as well as exchange rates and fees. Smooth international disbursement is part of a winning global strategy.
Digital disbursement of funds is a competitive advantage
In a global economy, strategy is imperative. If you carry outdated technology with you into the modern world of business, there’s likely a competitor ready to displace you with improved processes. People naturally gravitate towards faster, easier solutions to their pain points—including when it comes to getting paid.
To maintain competitive advantage, businesses need to simplify and streamline the way they handle global disbursement of funds to partners. Digital delivery is smart business, and it’s expected by consumers and contractors alike. To stay relevant, and retain and build a network of partners, focus on making global disbursement as simple, transparent, and convenient as possible.
Stay competitive with global disbursement capabilities
In an ever-changing global business environment, staying ahead of the curve is important. Not only do international payments break down barriers inherent to business operations, they create real value for consumers and the business’ bottom line.
Smart strategy starts with intelligent operational design, which should include building out the business’ global disbursement capabilities and infrastructure. Simplifying global payments leverages new markets, partners, contractors, and customers by giving them a reason to do business with you. When payment is easy, timely, and as simple as working with a domestic company, borders don’t matter.