Over the last five or 6 years …Papaya Global Services/Employee… functions on the provider side and also on the supplier side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we’ll just provide everyone another number of uh well among the 30 seconds or two to join we all work back to back these days so we’ll sort of let them do that so it ‘d be quite intriguing and I can see it going on currently just to hear where everyone is um it’s nice to to sort of like see where everybody originates from and I truly do hope it’s much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it’s not no it’s it’s raining here it’s really extremely bleak and I want I was elsewhere at this moment in time all right so let’s start our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business preserve separate

Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is especially useful for international organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining different savings account for payroll in different countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.

Making sure accurate, efficient, and prompt payroll payments is a complex challenge for organizations operating internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, discover how companies forecast payroll costs to optimize working capital, and discover how simplifying global payroll payments can change them from a challenging task into a tactical asset.

Managing payroll worldwide is an overwhelming task due to different guidelines, compliance requirements, data security issues, and banking rules. The sheer variety of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.

Standard payroll systems often result in manual procedures, data silos, and an absence of combination, leading to inconsistencies and ineffectiveness. Regardless of living in an era of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to supply insights and services to streamline and enhance worldwide payroll payments.

about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that’s another number that offers me sleep deprived nights and rather honestly the more a business invests in worldwide payroll the less of an image they see an absence of visibility also extends to payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of international services have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors badly interacted hires and terminations in addition to absence management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they depend on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles service face when they’re paying to employees or otherwise that’s a good question I always toss this back and state what is it what doesn’t require to be included right and what does

it need to be thought of there’s varying Bank details so the length of an eye band a swift an account number routing code per country there’s payment timespan there’s payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer’s own in-country account so there’s intricacy anywhere you look right ultimately constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it’s closer than ever I believe there’s now a bit more recognition that payroll payments are definitely fundamental and technology is enabling us to sort of move on with that it likewise too to add to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely vital that payroll and financing groups work better together than ever um I’m always amazed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn’t operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it’s payroll is an end-to-end process it’s the point of data collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the

world we reside in and well-being being increasingly more important to contribute to sort of the level of complexity there’s increasingly more advantages being organ or being used by companies throughout the world so once again you’re just seeking to include increasingly more payments to this already intricate landscape so if you sort of got any experience well I’m from your vast experience here and I make certain but have you got any experience in kind of real difficulties or genuine challenging sort of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding details into the next function as it were that’s really handling the payment side of things however you understand in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they don’t make them what they need to be in in an age of tech and an era that you know that we are working in today there is no reason that we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any company has from an expense point of view from an impact viewpoint on employees it is definitely crucial that it’s done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the greatest damaging effect on people’s wellness and numerous other elements if individuals aren’t paid uh I’ve always been amazed entering this Market sort of the last 5 to 10 years is how little thanks the

The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it’s from all workers or not. Payroll is an important cycle, and individuals only notice when things fail. However, when things go right, it’s seen as just a regular job. This is how it’s perceived externally too. Therefore, it is essential to guarantee that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the first International Payments first payroll payment option is a terrific initial action towards supplying a comprehensive payroll solution for workers worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and savings account necessary for international payroll are crucial factors in achieving company success. While we don’t expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things do not go as prepared. Eventually, we don’t do it for the gratitude.

anyway we understand how how essential a role it is and that’s why we do it that’s why we get on with it and this is why we’re talking today about making it as simple as possible for everyone that’s involved in those procedures and likewise so envision sorry I’m just I was just gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we’re speaking about numerous thousands potentially Millions picture getting that numerous thank you notes um I suggest it ‘d be interesting to see how many Post-it notes you got however it would certainly be an interesting task attempting to clean all those up for sure oh definitely I can’t picture the size of my my Outlook inbox if that was the case um you ‘d need days of the week to attempt to look through them and actually see what was going on and sort of try to get back to everybody so carrying on look why do companies pick to main separate savings account there are Papaya Global Services/Employee companies out there doing exactly this for particular countries and I’ve worked in a company or lots of businesses doing precisely that I can state it doesn’t always feel effective and it does develop more work I know we’re not deliberately doing that we’re not developing extra work for any person where we don’t need to and anyone that’s dealing with that process I ‘d be interested to hear your thoughts Johnny why do you think that we’re doing that in in the in the quantity that we are I think many factors one is it’s the requirement I think people have actually got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it’s not a requirement so I think it’s just been the standard and the standard individuals have embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there’s a range I believe this is a procedure that needs taking a look at it needs altering but ultimately people are extremely stuck to what they recognize

with best um change is a hard thing all of us don’t like change um so I think it’s just type of moving far from the standard as we’ve said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having keeping several checking account however there’s a substantial quantity of intricacy goes with establishing a savings account keeping it guaranteeing it can send International transfers guaranteeing it’s established with the best user accesses for private individuals so the intricacy is big but I believe the honest response is change um individuals have not been able to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we’ve always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to keep track of and this method does position numerous challenges um so Johnny might you inform us about those obstacles yeah obviously so there’s a range right there is so

I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your achievements. Papaya Global Services/Employee

Over the last five or 6 years …Papaya Global Services Employee… roles on the company side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we’ll simply offer everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we’ll kind of let them do that so it ‘d be rather intriguing and I can see it going on currently simply to hear where everybody is um it’s nice to to type of like see where everybody originates from and I actually do hope it’s much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it’s not no it’s it’s drizzling here it’s extremely really gloomy and I want I was elsewhere at this moment in time all right so let’s begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business preserve separate

Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is particularly helpful for global companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic asset for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.

Guaranteeing precise, efficient, and timely payroll payments is a complex challenge for companies running globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to enhance working capital, and discover how improving worldwide payroll payments can transform them from a challenging task into a strategic asset.

Handling payroll worldwide is a daunting job due to numerous policies, compliance requirements, information security issues, and banking rules. The large variety of workers and businesses adds to the complexity, with an estimated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.

Traditional payroll systems often lead to manual procedures, data silos, and a lack of integration, resulting in disparities and inefficiencies. Despite living in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to offer insights and solutions to simplify and optimize worldwide payroll payments.

about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that’s another number that gives me sleep deprived nights and rather honestly the more a company invests in worldwide payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of global companies have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the data is delivered to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they rely on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles service face when they’re making payments to employees or otherwise that’s a great question I constantly throw this back and state what is it what does not require to be consisted of ideal and what does

it require to be considered there’s differing Bank details so the length of an eye band a swift an account number routing code per nation there’s payment time frames there’s payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer’s own in-country account so there’s intricacy any place you look right eventually building a knowledge base is definitely critical but all over you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it’s closer than ever I think there’s now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to kind of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely important that payroll and financing groups work more detailed together than ever um I’m always astonished when people say I’ve divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it’s payroll is an end-to-end process it’s the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the

world we live in and wellness being more and more important to add to kind of the level of intricacy there’s increasingly more advantages being organ or being provided by services across the world so once again you’re just looking to add increasingly more payments to this currently intricate landscape so if you sort of got any experience well I’m from your huge experience here and I make sure however have you got any experience in kind of real challenges or genuine tough sort of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding info into the next function as it were that’s in fact managing the payment side of things however you know in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we require to create additional handoffs in the processes that we run in they just make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and an era that you know that we are operating in today there is no reason we are still making this as tough as it requires to be agreed and rightly as you said payroll is the single greatest liability that any company has from an expense viewpoint from an effect point of view on workers it is absolutely vital that it’s done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest damaging impact on people’s well-being and many other factors if people aren’t paid uh I’ve constantly been impressed entering this Market kind of the last 5 to ten years is how little thanks the

The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it’s from all staff members or not. Payroll is a crucial cycle, and people just see when things go wrong. Nevertheless, when things go right, it’s viewed as simply a routine task. This is how it’s perceived externally also. For that reason, it is essential to guarantee that tasks like Wi-Fi Worldwide and other essential matters are done properly. Using the first Global Payments very first payroll payment service is a terrific initial step towards supplying a thorough payroll service for staff members worldwide. Standardization, global processes, and reducing the number of tools, platforms, and checking account needed for global payroll are key factors in achieving organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things do not go as planned. Ultimately, we don’t do it for the thankfulness.

anyway we know how how crucial a function it is which’s why we do it that’s why we get on with it and this is why we’re talking today about making it as simple as possible for everybody that’s associated with those processes and likewise so think of sorry I’m simply I was just gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we’re discussing numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I suggest it ‘d be interesting to see how many Post-it notes you got but it would certainly be an intriguing job trying to clean all those up for sure oh absolutely I can’t envision the size of my my Outlook inbox if that held true um you ‘d need days of the week to attempt to check out them and in fact see what was going on and sort of try to get back to everyone so moving on appearance why do companies choose to primary different savings account there are Papaya Global Services Employee businesses out there doing exactly this for specific countries and I have actually worked in a company or many companies doing precisely that I can say it does not always feel efficient and it does produce more work I understand we’re not intentionally doing that we’re not producing additional work for anyone where we do not have to and anybody that’s handling that process I ‘d be interested to hear your ideas Johnny why do you think that we’re doing that in in the in the amount that we are I believe numerous reasons one is it’s the requirement I think individuals have got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it’s not a requirement so I think it’s just been the standard and the standard individuals have adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there’s a range I think this is a process that requires looking at it requires altering however eventually people are very stuck to what they’re familiar

with best um modification is a difficult thing we all do not like modification um so I think it’s simply kind of moving away from the norm as we’ve said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having preserving multiple checking account but there’s a big quantity of complexity goes with establishing a bank account maintaining it ensuring it can send out International transfers ensuring it’s established with the right user accesses for specific individuals so the intricacy is huge but I believe the truthful response is change um individuals have not been able to change or haven’t had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change but we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century approximately there is a lot to track and this approach does posture a number of obstacles um so Johnny might you inform us about those challenges yeah obviously so there’s a variety right there is so

I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your achievements. Papaya Global Services Employee