Over the last 5 or six years …Papaya Global Solutions Inc… roles on the service provider side and also on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we’ll simply offer everyone 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 type of let them do that so it ‘d be rather fascinating and I can see it going on already just to hear where everybody 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 very really bleak and I wish I was somewhere else at this moment in time all right so let’s begin our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies maintain different

Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will also offer 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 obstacle for companies operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to enhance working capital, and find how improving international payroll payments can transform them from a challenging task into a strategic asset.

Managing payroll internationally is a daunting job due to different regulations, compliance requirements, information security concerns, and banking guidelines. The sheer variety of workers and businesses contributes to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.

Conventional payroll systems frequently result in manual procedures, information silos, and a lack of combination, resulting in inconsistencies and inefficiencies. In spite of living in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to offer insights and services to simplify and optimize worldwide payroll payments.

about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that’s another number that offers me sleep deprived nights and quite honestly the more an organization spends on worldwide payroll the less of an image they see an absence of visibility also encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction almost half of international organizations have revealed that they don’t have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors poorly interacted hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the data is delivered to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don’t run smoothly if they depend on the necessary several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they’re making payments to staff members or otherwise that’s a good concern I constantly throw this back and state what is it what doesn’t require to be consisted of right and what does

it require to be thought about there’s varying Bank details so the length of an eye band a swift an account number routing code per nation 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 customer’s own in-country account so there’s complexity any place you look best eventually constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link 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 allowing us to sort of move on with that it also too to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is absolutely vital that payroll and financing teams work more detailed together than ever um I’m constantly impressed when people say I’ve divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn’t operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it’s payroll is an end-to-end process it’s the point of data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the

The contemporary world places a high worth on wellness and the payment landscape is becoming progressively complex. Companies are constantly introducing brand-new advantages and payment choices, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn’t have to hold true. In today’s technologically sophisticated age, there’s no validation for keeping cumbersome procedures. Payroll, the company’s most significant expenditure, need to be processed properly and on time. Even minor hold-ups can adversely impact workers’ well-being and have far-reaching consequences. For that reason, it’s important to prioritize accurate and timely payments.

The payroll team might not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it’s from all staff members or not. Payroll is an essential cycle, and individuals only see when things fail. Nevertheless, when things go right, it’s seen as just a routine job. This is how it’s viewed externally as well. Therefore, it is vital to guarantee that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Using the very first Worldwide Payments very first payroll payment service is a fantastic preliminary step towards providing a detailed payroll option for workers worldwide. Standardization, international processes, and lowering the variety of tools, platforms, and checking account necessary for international payroll are essential factors in accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things do not go as prepared. Ultimately, we don’t do it for the appreciation.

anyway we understand how how crucial a function 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 easy as possible for everybody that’s associated with those processes and likewise so think of sorry I’m just I was simply gon na state picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I’m sure we’re speaking about numerous thousands possibly Millions envision getting that many thank you notes um I indicate it ‘d be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting to clean all those up for sure oh definitely I can’t envision the size of my my Outlook inbox if that was the case um you ‘d need days of the week to try to browse them and in fact see what was going on and kind of try to return to everybody so moving on appearance why do business choose to main different checking account there are Papaya Global Solutions Inc services out there doing exactly this for specific countries and I’ve worked in a business or many companies doing exactly that I can say it doesn’t always feel effective and it does produce more work I know we’re not intentionally doing that we’re not producing extra work for anyone where we do not need to and anybody that’s dealing with that process I ‘d be interested to hear your thoughts Johnny why do you believe that we’re doing that in in the in the amount that we are I believe lots of factors one is it’s the standard I think people have got so utilized to we need a new bank account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it’s not a requirement so I believe it’s just been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and many other methods um to to kind of do it so I think there’s a variety I believe this is a process that requires looking at it needs altering however eventually people are very stuck to what they recognize

with best um change is a tough thing all of us do not like modification um so I think it’s just sort of moving far from the norm as we’ve said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having preserving several bank accounts but there’s a big quantity of complexity opts for setting up a checking account preserving it guaranteeing it can send International transfers guaranteeing it’s set up with the best user accesses for private people so the intricacy is big however I think the sincere response is change um individuals haven’t had the ability to change or haven’t had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we’ve constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might almost be figured out to be the next Century approximately there is a lot to monitor and this technique does pose a number of challenges um so Johnny might you inform us about those challenges yeah naturally so there’s a range right there is so

I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you should have a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you Papaya Global Solutions Inc

Over the last five or 6 years …Papaya Global Solutions Inc…. roles on the service provider side and likewise on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we’ll simply provide everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we’ll sort of let them do that so it ‘d be quite fascinating and I can see it going on currently simply to hear where everyone is um it’s nice to to type of like see where everybody comes from and I actually do hope it’s much sunnier than it is in the UK today definitely not the peak of the sunshine is it it’s not no it’s it’s raining here it’s very extremely uninspiring and I want I was elsewhere at this moment in time alright so let’s get going our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business keep different

checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya International payroll payments as a strategic possession uh we’ll likewise review a recap which must leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more common and managing them ends up being increasingly more intricate Global organizations are wanting to find Solutions and brand-new ways to improve procedures especially from a payroll and cross-border payment standpoint lots of companies keep different bank account just for payroll while some have several accounts in various countries does it make good sense for companies to maintain separate bank accounts in some cases in different countries it does but just for payroll exists a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business simplify the episode complex processes of

Guaranteeing accurate, efficient, and prompt payroll payments is a complex difficulty for organizations operating globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, find out how companies anticipate payroll costs to enhance working capital, and find how streamlining global payroll payments can change them from a burdensome task into a tactical possession.

Handling payroll globally is a difficult job due to different policies, compliance requirements, information security issues, and banking rules. The large variety of employees and organizations contributes to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million services worldwide.

Conventional payroll systems typically lead to manual processes, data silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. Regardless of residing in an era of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to provide insights and options to streamline and optimize global payroll payments.

about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that’s another number that provides me sleepless nights and rather frankly the more a service invests in global payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide businesses have revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly interacted hires and terminations as well as absence management and system setups and after that when you round all of it off and the data is delivered to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don’t run efficiently if they depend on the required several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties business face when they’re making payments to workers or otherwise that’s a great concern I always toss this back and say what is it what does not need to be consisted of best and what does

it require to be thought about there’s differing Bank information so the length of an eye band a swift an account number routing code per nation there’s payment amount of time there’s payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client’s own in-country account so there’s complexity anywhere you look ideal ultimately building a knowledge base is definitely vital however everywhere you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it’s closer than ever I believe there’s now a bit more acknowledgment that payroll payments are absolutely basic and innovation is allowing us to kind of move forward with that it also too to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and finance teams work closer together than ever um I’m always astonished when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it’s payroll is an end-to-end procedure it’s the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the

world we live in and wellness being more and more essential to add to kind of the level of complexity there’s more and more benefits being organ or being offered by companies across the world so once again you’re simply seeking to include a growing number of payments to this already intricate landscape so if you sort of got any experience well I’m from your huge experience here and I make certain but have you got any experience in kind of genuine challenges or genuine challenging sort of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would absolutely say that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding information into the next function as it were that’s actually handling the payment side of things however you understand in in my opinion and my experience that doesn’t necessarily need to be the case you know long gone are the times where we need to produce additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason why we are still making this as hard as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any business has from an expense perspective from an effect viewpoint on staff members it is definitely vital that it’s done correctly 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 destructive impact on individuals’s wellness and lots of other elements if individuals aren’t paid uh I have actually always been impressed coming into this Market kind of the last five to ten years is how little thanks the

The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it’s from all staff members or not. Payroll is a crucial cycle, and people only notice when things go wrong. Nevertheless, when things go right, it’s viewed as simply a regular task. This is how it’s perceived externally too. Therefore, it is important to ensure that tasks like Wi-Fi Global and other important matters are done properly. Using the very first International Payments very first payroll payment service is a great initial step towards providing a thorough payroll option for staff members worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and checking account essential for international payroll are essential consider accomplishing business success. While we don’t expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things don’t go as prepared. Ultimately, we do not do it for the appreciation.

anyway we understand how how essential 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 easy as possible for everyone that’s involved in those procedures and likewise so imagine sorry I’m simply I was just gon na state imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we’re speaking about numerous thousands potentially Millions think of getting that lots of thank you notes um I indicate it ‘d be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job attempting to clean up all those up for sure oh definitely 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 really see what was going on and sort of shot to get back to everyone so proceeding appearance why do companies pick to primary different savings account there are Papaya Global Solutions Inc. services out there doing precisely this for particular nations and I have actually operated in an organization or numerous companies doing exactly that I can state it doesn’t constantly feel effective and it does produce more work I know we’re not purposely doing that we’re not creating extra work for anyone where we do not have to and any person that’s dealing with that process I ‘d be interested to hear your thoughts Johnny why do you believe that we’re doing that in in the in the amount that we are I believe lots of factors one is it’s the standard I believe people have actually got so used to we need a new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it’s not a requirement so I believe it’s just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there’s a variety I believe this is a process that needs taking a look at it requires altering however ultimately individuals are very stuck to what they’re familiar

with right um change is a hard thing we all don’t like change um so I believe it’s simply type of moving far from the norm as we’ve said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having maintaining numerous bank accounts however there’s a huge amount of complexity goes with setting up a checking account preserving it ensuring it can send out International transfers ensuring it’s established with the right user accesses for specific people so the complexity is substantial however I think the truthful answer is modification um individuals haven’t been able to change or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you’ve struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century or two there is a lot to keep track of and this technique does present a number of obstacles um so Johnny might you inform us about those challenges yeah of course 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 handle our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide 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 Solutions Inc.