Over the last five or 6 years …Papaya Global Vs Quickbooks Payroll… roles on the supplier side and likewise on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we’ll simply provide everyone another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we’ll type of let them do that so it ‘d be rather intriguing and I can see it going on already just to hear where everyone is um it’s nice to to type of like see where everybody comes from and I truly do hope it’s much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it’s not no it’s it’s drizzling here it’s extremely really bleak and I want I was somewhere else at this moment in time all right so let’s start our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies maintain different

Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is especially beneficial for global organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.

Making sure precise, effective, and prompt payroll payments is a complex difficulty for businesses operating internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, find out how business forecast payroll expenses to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a burdensome task into a tactical possession.

Handling payroll globally is a challenging job due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer variety of staff members and services adds to the complexity, with an approximated 3.5 billion individuals in the global labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.

Standard payroll systems typically lead to manual processes, information silos, and a lack of integration, causing disparities and inefficiencies. In spite of residing in an era of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to offer insights and options to streamline and optimize global payroll payments.

about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce data in real time that’s another number that offers me sleep deprived nights and quite frankly the more an organization spends on international payroll the less of an image they see a lack of presence likewise reaches payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international companies have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes poorly communicated hires and terminations along with lack management and system setups and after that when you round everything off and the data is shipped to the wrong place the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments don’t run efficiently if they depend on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they’re making payments to staff members or otherwise that’s a good concern I always toss this back and say what is it what does not require to be included ideal and what does

it need to be considered there’s differing Bank information so the length of an eye band a swift an account number routing code per nation there’s payment time frames there’s payment capabilities 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 customer’s own in-country account so there’s complexity any place you look ideal ultimately building a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link 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 technology is enabling us to sort of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely imperative that payroll and finance teams work more detailed together than ever um I’m always amazed when individuals state I’ve split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn’t work in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically 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 individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the

world we reside in and wellness being more and more essential to add to sort of the level of complexity there’s more and more benefits being organ or being provided by services across the world so once again you’re simply aiming to add increasingly more payments to this already complex 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 real obstacles or genuine challenging sort of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a couple of decades I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding details into the next function as it were that’s in fact managing the payment side of things however you understand in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to produce extra handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you understand that we are operating in today there is no reason that we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single most significant liability that any company has from a cost perspective from an impact perspective on employees it is definitely important 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 most significant detrimental result on individuals’s well-being and lots of other factors if people aren’t paid uh I have actually constantly been astonished entering into this Market sort of the last 5 to ten years is how little thanks the

payroll team get um so I’m not sure anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it ‘d be fantastic to hear your success story and whether that’s been from all workers or not um but ultimately payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it fails however when it goes right it’s just a tick box exercise and I believe that’s how it’s seen from the external consider as well um so yeah it’s likewise like why WI-Fi Global why all of this things is absolutely essential that all of this things is done properly so leveraging the very first International Payments very first payroll payment option is a great initial step um supplying an end-to-end payroll solution for your workers worldwide again I believe is another big um procedure once again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely key to success success of businesses and minimizing the variety of tools platforms and checking account they require for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don’t anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they’re suggested to be um I don’t believe any of us are actually doing that for for the thanks

anyway we know how how crucial a role 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 associated with those procedures and also so imagine sorry I’m simply I was just gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we’re discussing numerous thousands possibly Millions picture getting that many thank you notes um I indicate it ‘d be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying to clean all those up for sure oh definitely I can’t think of the size of my my Outlook inbox if that was the case um you ‘d need days of the week to try to check out them and really see what was going on and sort of shot to return to everybody so proceeding look why do business select to primary different checking account there are Papaya Global Vs Quickbooks Payroll organizations out there doing precisely this for particular nations and I have actually operated in a service or lots of services doing exactly that I can state it does not constantly feel effective and it does produce more work I understand we’re not deliberately doing that we’re not creating additional work for anybody where we do not have to and anybody that’s managing that procedure I ‘d be interested to hear your thoughts Johnny why do you believe that we’re doing that in in the in the quantity that we are I believe lots of reasons one is it’s the requirement I believe people have got so utilized to we require a new savings 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 think it’s simply been the standard and the standard the people have adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I believe there’s a range I think this is a process that needs looking at it requires changing however eventually individuals are really stuck to what they’re familiar

with best um change is a challenging thing we all don’t like change um so I believe it’s simply kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having preserving multiple savings account however there’s a big amount of intricacy opts for establishing a bank account preserving it guaranteeing it can send International transfers ensuring it’s established with the best user accesses for specific individuals so the intricacy is big however I believe the sincere response is change um individuals have not been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I think you’ve struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we’ve 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 nearly be identified to be the next Century or so there is a lot to keep an eye on and this method does present numerous difficulties um so Johnny could you tell 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 gotten another CFO, and with this boosted ability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your accomplishments. Papaya Global Vs Quickbooks Payroll

Over the last five or 6 years …Papaya Global Vs. Quickbooks Payroll… functions on the provider side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we’ll simply offer everyone another number 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 quite fascinating and I can see it going on already just to hear where everyone is um it’s nice to to kind of like see where everyone originates from and I really do hope it’s much sunnier than it is 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 very gloomy and I wish I was elsewhere at this moment in time fine so let’s get started our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business preserve separate

Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is especially useful for international companies with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of maintaining separate bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.

making payroll payments properly efficiently firmly and on time throughout this webinar we’ll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one country however when you’re doing it globally it’s next level and Beyond it ends up being intricate for a variety of reasons most significantly guidelines compliance data security and banking guidelines then there are the sheer numbers they include more complexity the global Workforce is currently three and a half billion individuals by 2030 it’s approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the standard payroll design there’s typically a frustrating variety of various systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in large quantities and or really really standard there’s no real consistency framework we’re residing in an era of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind every time I I think

about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that’s another number that gives me sleep deprived nights and quite frankly the more an organization spends on worldwide payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide companies have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is shipped to the wrong place the typical expense 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 don’t run smoothly if they rely on the essential several procedures 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 obstacles service face when they’re paying to staff members or otherwise that’s an excellent concern I constantly throw this back and state what is it what does not need to be consisted of right and what does

it need to be thought about there’s varying Bank details so the length of an eye band a swift an account number routing code per country there’s payment time frames there’s payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer’s own in-country account so there’s intricacy wherever you look right eventually constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they are like incredibly 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 think there’s now a bit more acknowledgment that payroll payments are definitely essential and innovation is allowing us to kind of progress with that it also too to contribute to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is definitely vital that payroll and finance teams work more detailed together than ever um I’m always astonished when people state I’ve divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn’t work in the payroll profession would they split the payroll payment from calculation 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 ultimately it’s payroll is an end-to-end process it’s the point of information collection all the way through to paying individuals anywhere they are however likewise 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 type of the level of intricacy there’s a growing number of benefits being organ or being offered by services across the world so again you’re just seeking to add more and more payments to this already complex 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 genuine obstacles or real challenging type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would definitely state that the bigger a service 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 teams feeding info into the next function as it were that’s really handling the payment side of things however you know in in my viewpoint and my experience that doesn’t always require to be the case you understand long gone are the times where we require to develop additional handoffs in the processes that we operate in they just make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and an age that you know that we are operating in today there is no reason we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any business has from a cost perspective from an effect perspective on staff members it is absolutely critical that it’s done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive impact on people’s well-being and lots of other elements if people aren’t paid uh I’ve always been astonished coming into this Market sort of the last five to 10 years is how little thanks the

The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it’s from all workers or not. Payroll is an essential cycle, and individuals only see when things go wrong. However, when things go right, it’s seen as simply a routine task. This is how it’s viewed externally as well. Therefore, it is important to guarantee that jobs like Wi-Fi International and other crucial matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment option is a terrific preliminary action towards offering a thorough payroll solution for staff members worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and savings account needed for worldwide payroll are crucial factors in achieving organization success. While we don’t expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things don’t go as planned. Ultimately, we don’t do it for the gratitude.

anyway we know how how important 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 everyone that’s involved in those processes and likewise so picture sorry I’m just I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I’m sure we’re talking about hundreds of thousands possibly Millions think of getting that numerous thank you keeps in mind um I mean it ‘d be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task attempting to clean all those up for sure oh definitely I can’t imagine the size of my my Outlook inbox if that held true um you ‘d need days of the week to try to look through them and really see what was going on and kind of try to get back to everyone so proceeding look why do business pick to primary separate savings account there are Papaya Global Vs. Quickbooks Payroll services out there doing exactly this for particular countries and I have actually operated in a company or many businesses doing exactly that I can say it does not constantly feel effective and it does create more work I understand we’re not purposely doing that we’re not producing extra work for anyone where we don’t need to and anybody 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 reasons one is it’s the standard I think people have got so used to we need a new bank 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 norm individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other methods um to to type of do it so I think there’s a variety I believe this is a process that needs looking at it requires changing however ultimately individuals are really stuck with what they recognize

with ideal um modification is a tough thing we all don’t like modification um so I think it’s simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having preserving multiple checking account however there’s a substantial quantity of complexity goes with setting up a savings account keeping it ensuring it can send out International transfers ensuring it’s set up with the best user accesses for specific individuals so the complexity is substantial however I think the honest answer is modification um people have not been able to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I think you’ve hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we’ve constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might practically be identified to be the next Century or two there is a lot to monitor and this technique does position numerous difficulties um so Johnny could you tell us about those obstacles yeah naturally so there’s a variety right there is so

I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments. Papaya Global Vs. Quickbooks Payroll