How Slasify Uses Wise Business for International Payroll Payouts

Slasify is a premium global HR management solution offering global contractor, employer of record and global payroll services. Having spotted the changing nature of work - with more and more businesses choosing remote teams for better talent management - Slasify launched to revolutionise global employment through its payroll solutions and modernise payroll management for all. Today, Slasify offers payroll solutions to 150+ countries in 130+ currencies, making payments to remote workers seamless.

Slasify uses Wise Business to pay remote contractors and employees all over the world, in a, quick and efficient manner and in their preferred currencies. This case study walks through how Slasify uses Wise Business to extend their reach and offer premium payment solutions for remote and international workers.

Story of Slasify

To learn more about the story of Slasify, we’ll turn to Slasify CEO Carlos Wang. Here’s what he had to say about his journey so far, and how Slasify came into being:

“Since 2008, I've been deeply immersed in the IT industry, starting my journey as a System Developer at PPolis Inc. Over the years, I've taken on various leadership roles, including IT Architect at IBM, all of which have shaped my expertise and leadership skills. In 2016, I embarked on my entrepreneurial journey, assuming the role of CEO at Slasify, where I combine my technical background and entrepreneurial spirit to drive innovation and success.”

Led by Carlos, the Slasify team is made up of talented people from diverse backgrounds, who are on a mission to simplify and enhance the way businesses handle payroll worldwide. Having spotted the shifting dynamics of the global workforce, including increasing demand for flexible work arrangements, Slasify set out back in 2016 to create a solution that caters to the needs of modern employers and employees alike. Trends in remote work certainly haven't changed since then - with more and more people choosing to work remotely following the pandemic, and businesses seeing the value in fishing in a global talent pool rather than being restricted to specific geographic locations.

The Slasify mission is to establish themselves as the leading authority in borderless talent management and solutions. Through the integration of cutting-edge technology and superior service delivery, we strive to create a people-centric workplace ecosystem that ensures talent sustainability, fosters mutually beneficial relationships between employers and employees, and upholds the principles of DEI (diversity, equity, and inclusion).

Over to Carlos again for more on how they’re on track to achieve this lofty goal:

“By leveraging technology to break through geographical barriers, we're dedicated to giving businesses of every size the tools they need to effortlessly manage their international workforce. Our ultimate aim? To cultivate a more connected and empowered global employment landscape, where businesses thrive and employees excel.”

Digital nomads, remote teams and the future shape of the workforce

Slasify spotted the shifting trends in the shape of the workforce pretty early, as more and more employers identified the benefits of having a remote team. By being able to look for the talent needed for their business worldwide, companies have a better chance of finding a perfect fit. Plus remote teams can help to keep down business overheads, by cutting the costs of running physical office locations. As remote work becomes far more the norm, technological solutions are also developing at pace to make sure remote employees can do their work well - even away from the office - and employers can manage the practical side of payroll, compliance and HR globally.

There’s little debate about the potential benefits of hiring remotely - but what about the drawbacks? The challenges of managing an international team can include payroll, taxes, visa applications, compliance and benefits - all of which tend to look different from one country to another, based on legal, economic and technical requirements. Managing a diverse range of factors across multiple countries is one area where Slasify helps companies with remote workers. By offering localised support through a network of partners, Slasify can help manage HR, compliance and more to ensure employees are satisfied and able to do their work.

One major area of focus for Slasify is in managing global payroll solutions - more on that, next.

The challenge for Slasify - to pay remote employees and contractors

Slasify works with hundreds of clients globally, across more than 30 countries, from small startups to multinational corporations, including NYSE-listed or Forbes 500 companies. The challenges of every company are unique - but one common factor is how to quickly and efficiently manage payroll across multiple countries and currencies. Here, Slasify can provide tailored solutions to meet the unique needs of each client, ensuring that they can effectively manage their workforce regardless of their operational location.

Companies working with Slasify can offer their remote workers a selection of payout options to receive their salary. Initially, Slasify stuck with providers like Payoneer, Airwallex, Paypal, SWIFT and direct bank transfers to get money to remote workers. In order to allow remote workers to pick the very best payout option for their own needs, Slasify now also works with Wise Business to offer flexible solutions for direct-to-bank foreign currency payments. That means there’s no need for workers to sign up to a third party platform to get their money, and there’s no extra fee to pay to receive or withdraw their salary.

Wise Business - flexible payments for Slasify

Slasify uses Wise as a powerful and flexible solution for multi-currency payouts. Here’s what Slasify CEO Carlos Wang has to say:

“We discovered Wise when it was still known as Wise, having previously used Payoneer. While Payoneer met our basic needs, it lacked flexibility. Wise’s transparent fee structure and intuitive interface simplified our financial activities and increased our financial flexibility.

Wise's competitive exchange rates, transparent pricing, and efficient cross-border transfer capabilities complement our existing payout methods, addressing some of the limitations and preferences our clients may have expressed. By adding Wise to our roster of payout options, we aim to improve the overall experience for our clients while maintaining the diversity of choices they have for receiving payments.”

Adding Wise Business as a payment option gives more choice to remote workers - and also makes life easier for Slasify clients thanks to the Slasify integration of Wise's API and use of batch payments to streamline the process of running international payroll.

So why Wise? According to the Slasify team it’s pretty simple:

"This flexibility in payout methods reflects our commitment to providing tailored solutions that meet the diverse needs of our clients while leveraging the efficiency and reliability of Wise's platform.”

Impact of Wise Business for Slasify: Time and Money Saved

Slasify chooses to work with Wise Business when sending and receiving international payments for their own purposes and on behalf of clients. As a result, Slasify can save time and money, while delivering a top notch service to all.

Whenever you send a payment with Wise - as a one time transfer or when running batch payments of up to 1,000 transfers at a time - you’ll get the mid-market exchange rate and low, transparent fees from 0.43%¹. That can help cut down the overall cost of currency conversion - and as Wise transfers are processed through Wise’s own payment network, they’re fast too. 50% of Wise payments are instant, and 90% arrive in 24 hours². The ultimate beneficiary of any Wise payment - whether that’s a remote worker, contractor or supplier - is notified of the payment processing status and can visualise the end to end journey of their money, giving them confidence their transfer will arrive in good time.

Wise Business also offers multi-currency holding accounts which can support 40+ currencies and which come with easy ways to receive payments through local transfers in up to 10 currencies. That allows businesses like Slasify to receive client payments in a selection of currencies, without needing to convert back to Singapore dollars every time. That can also help cut currency conversion costs. Just hold your balance in the currency of your choice until the time comes to make a transfer, avoiding unnecessary currency conversion and the costs involved.

So what’s the final impact of working with Wise for Slasify? We’ll leave it to Slasify CEO, Carols Wang, to sum up:

“We can definitely say that we've cut the time spent consolidating multi-currency transfers in half. Before, it used to take us a lot longer to manage these transfers manually. Now, with Wise streamlining the process, we've freed up a significant chunk of time each month. This means our team can focus on more important tasks instead of getting bogged down in administrative work.

With Wise's efficient cross-border payment system integrated into our platform, clients now have access to global multi-currency payroll services, all processed within a 24-48 hour timeframe. This means clients can effortlessly receive payments in their preferred currency, hassle-free.”