Over the last five or six years …App Papaya Global… functions on the supplier side and also on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we’ll simply give everybody another number of uh well one of 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 intriguing and I can see it going on currently just 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 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 very very dreary and I wish I was elsewhere at this moment in time fine so let’s start our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies keep different

savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we’ll also discuss a wrap-up and that ought to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of typical and handling them becomes more and more complex International organizations are seeking to find Solutions and new methods to enhance procedures specifically from a payroll and cross-border payment perspective numerous companies preserve separate savings account just for payroll while some have several accounts in different nations does it make good sense for companies to maintain separate savings account sometimes in different countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international business improve the episode complex procedures of

making payroll payments properly efficiently securely and on time during this webinar we’ll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in adequate in one nation but when you’re doing it globally it’s next level and Beyond it becomes complicated for a variety of factors most importantly policies compliance information security and banking guidelines then there are the large numbers they include further complexity the global Labor force is currently 3 and a half billion people by 2030 it’s approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll model there’s frequently an overwhelming variety of various systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in large amounts and or very very fundamental there’s no genuine consistency structure we’re living in an era of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind whenever I I believe

about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force data in real time that’s another number that gives me sleep deprived nights and quite honestly the more a business invests in global payroll the less of an image they see an absence of visibility likewise reaches payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of international companies have expressed that they don’t have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors poorly communicated hires and terminations in addition to lack management and system configurations and after that when you round everything off and the information is shipped to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don’t run smoothly if they count on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they’re paying to workers or otherwise that’s an excellent concern I always toss 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 differing Bank information so the length of an eye band a swift an account number routing code per country there’s payment amount of time 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 best eventually constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it’s closer than ever I think there’s now a bit more recognition that payroll payments are absolutely essential and innovation is allowing us to kind of move on with that it also too to add to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and financing groups work better together than ever um I’m constantly astonished when people say 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 profession would they divide the payroll payment from calculation 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 information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the

world we reside in and well-being being a growing number of crucial to add to type of the level of intricacy there’s increasingly more benefits being organ or being offered by companies throughout the world so once again you’re just aiming to include more and more payments to this already intricate landscape so if you kind of got any experience well I’m from your large experience here and I make certain but have you got any experience in kind of genuine challenges or real difficult sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding details into the next function as it were that’s in fact handling the payment side of things however you understand in in my viewpoint and my experience that doesn’t always require to be the case you know long gone are the times where we need to create extra handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they don’t make them what they require to be in in an era 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 tough as it requires to be concurred and rightly as you said payroll is the single biggest liability that any business has from an expense viewpoint from an impact viewpoint on employees it is absolutely critical 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 need to be done right it has the greatest detrimental effect on people’s wellness and numerous other aspects if people aren’t paid uh I’ve constantly been impressed entering this Market type of the last 5 to ten years is how little thanks the

payroll team get um so I’m not exactly sure anybody on this sort 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 employees or not um but eventually payroll is such a crucial cycle all of us hear about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it’s just a tick box exercise and I think 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 stuff is definitely essential that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment solution is a terrific initial step um providing an end-to-end payroll solution for your employees worldwide again I think is another big um procedure again lining up and guaranteeing you have standardization Global processes all of those things are absolutely essential to success success of organizations and minimizing the variety of tools platforms and savings account they need for their Worldwide payroll too couldn’t agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don’t expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone quite where they’re suggested to be um I don’t think any of us are actually doing that for for the thanks

anyway we understand how how important 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 simple as possible for everybody that’s involved in those procedures and also so picture sorry I’m just I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we’re speaking about hundreds of thousands potentially Millions think of getting that numerous thank you notes um I indicate 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 definitely I can’t think of the size of my my Outlook inbox if that held true um you ‘d require days of the week to attempt to check out them and really see what was going on and sort of shot to return to everyone so carrying on look why do business choose to main separate bank accounts there are App Papaya Global services out there doing precisely this for specific nations and I have actually worked in a company or numerous organizations doing precisely that I can say it doesn’t always feel effective and it does develop more work I know we’re not purposely doing that we’re not developing additional 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 ideas Johnny why do you think that we’re doing that in in the in the amount that we are I think lots of reasons one is it’s the requirement I think individuals have actually got so used to we need a brand-new bank account we open an entity and rightly so you need 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 the people have embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there’s a variety I believe this is a procedure that needs looking at it needs changing but eventually individuals are very stuck to what they’re familiar

with right um change is a tough thing all of us don’t like change um so I believe it’s simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having preserving multiple bank accounts however there’s a huge amount of complexity goes with setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it’s set up with the ideal user accesses for individual people so the intricacy is huge but I think the honest answer is change um people haven’t had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I think you’ve hit the nail on the head I think it is understanding you understand and there is a component of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could practically be figured out to be the next Century or so there is a lot to keep an eye on and this approach does posture numerous difficulties um so Johnny could you inform us about those obstacles yeah of course so there’s a variety right there is so

I simply did you changed 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 staff members you deserve a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you App Papaya Global

Over the last 5 or six years …App.Papaya Global… 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 everybody alright thanks Johnny uh we’ll simply give everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we’ll type of let them do that so it ‘d be quite 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 comes from and I actually 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 very gloomy and I want I was elsewhere at this moment in time okay so let’s begin our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business preserve different

Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially beneficial for international companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.

Making sure accurate, effective, and prompt payroll payments is a complex obstacle for companies operating internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, find out how business anticipate payroll costs to enhance working capital, and find how improving global payroll payments can change them from a difficult task into a tactical asset.

Managing payroll internationally is an overwhelming task due to various regulations, compliance requirements, information security issues, and banking rules. The large variety of workers and organizations contributes to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.

Conventional payroll systems typically result in manual procedures, data silos, and an absence of combination, leading to disparities and inefficiencies. Despite living in a period of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to offer insights and services to simplify and enhance worldwide payroll payments.

about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce data in real time that’s another number that provides me sleep deprived nights and quite honestly the more a company invests in global payroll the less of a photo they see a lack of presence likewise extends to payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of international organizations have expressed that they don’t have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors poorly communicated hires and terminations along with lack management and system configurations and then when you round everything off and the data is delivered 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 worldwide payroll and payments don’t run efficiently if they count on the required multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties business face when they’re making payments to employees or otherwise that’s a great question I always throw this back and state what is it what doesn’t need to be included ideal and what does

it require to be considered 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 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 wherever you look ideal eventually constructing a knowledge base is definitely important however everywhere you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort 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 essential and innovation is permitting us to kind of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work closer together than ever um I’m always surprised when individuals say I’ve split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work 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 typically 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 people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the

The modern-day world places a high value on wellness and the payment landscape is becoming significantly complex. Organizations are continuously introducing new benefits and payment options, which adds to the overall complexity. Big corporations typically divide their payroll and payment processing into different teams, which can lead to inadequacies and bottlenecks. In my viewpoint, this doesn’t have to be the case. In today’s technically advanced era, there’s no reason for maintaining troublesome procedures. Payroll, the company’s most significant expenditure, must be processed correctly and on time. Even slight hold-ups can negatively impact workers’ well-being and have significant repercussions. Therefore, it’s critical to focus on accurate and prompt payments.

payroll group get um so I’m uncertain anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it ‘d be terrific to hear your success story and whether that’s been from all workers or not um however eventually payroll is such an important cycle we all become aware of it when it fails everybody jumps up and down when it fails but 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 also like why WI-Fi Global why all of this things is absolutely vital that all of this things is done correctly so leveraging the first Global Payments first payroll payment solution is a fantastic primary step um providing an end-to-end payroll solution for your staff members globally once again I think is another big um process once again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of organizations and minimizing the number of tools platforms and bank accounts they need for their Global 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’ve never ever had a hundred countless them within a payroll cycle do not expect 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 indicated to be um I do not believe any of us are really doing that for for the thanks

anyway we know 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 simple as possible for everybody that’s involved in those processes and likewise so envision sorry I’m just I was just gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we’re speaking about numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I suggest it ‘d be interesting to see the number of Post-it notes you got but it would absolutely be an interesting task attempting to clean up all those up for sure oh absolutely I can’t imagine 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 actually see what was going on and type of shot to return to everyone so carrying on appearance why do business choose to main separate checking account there are App.Papaya Global organizations out there doing precisely this for specific nations and I have actually operated in a company or lots of services doing exactly that I can say it doesn’t constantly feel efficient and it does develop more work I understand we’re not intentionally doing that we’re not creating extra work for anybody where we don’t have to and anybody that’s dealing with that process I ‘d be interested to hear your ideas Johnny why do you believe that we’re doing that in in the in the quantity that we are I think numerous factors one is it’s the requirement I think people have actually got so used to we require a brand-new checking 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 requirement and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there’s a variety I think this is a process that needs taking a look at it needs changing but eventually people are extremely stuck to what they recognize

with right um modification is a tough thing all of us do not like modification um so I think it’s just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having preserving multiple bank accounts however there’s a huge quantity of complexity chooses setting up a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it’s set up with the right user accesses for individual people so the complexity is huge but I think the honest answer is modification um individuals haven’t had the ability to change or haven’t had always the understanding to truly make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter but we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to monitor and this technique does posture numerous challenges um so Johnny might you inform us about those challenges yeah naturally so there’s a variety right there is so

I just recently made a change to our Business 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 actually acquired another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your achievements. App.Papaya Global