Over the last 5 or six years …Papaya Global Argentina… functions on the provider side and also on the supplier side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we’ll simply provide everybody another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we’ll kind of let them do that so it ‘d be quite interesting 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 everybody originates from and I really 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 drizzling here it’s really really uninspiring and I wish I was elsewhere at this moment in time all right so let’s start our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business keep different

savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical possession uh we’ll likewise review a wrap-up and that should leave his time at the really extremely 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 Global labor forces become a growing number of typical and managing them ends up being a growing number of complicated International companies are seeking to discover Solutions and brand-new methods to improve processes specifically from a payroll and cross-border payment viewpoint numerous organizations maintain different savings account just for payroll while some have numerous accounts in different nations does it make sense for business to maintain separate savings account sometimes in various countries it does but just for payroll is there a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business improve the episode complex processes of

Ensuring precise, efficient, and timely payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and discover how simplifying global payroll payments can change them from a troublesome task into a tactical property.

Managing payroll internationally is a complicated task due to various guidelines, compliance requirements, data security issues, and banking guidelines. The sheer number of staff members and organizations contributes to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million services worldwide.

Standard payroll systems typically lead to manual processes, data silos, and an absence of integration, causing inconsistencies and inefficiencies. Despite residing in an era of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to supply insights and options to simplify and enhance international 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 provides me sleep deprived nights and quite honestly the more an organization invests in international payroll the less of a picture they see a lack of exposure also extends to payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international services have actually revealed that they don’t 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 data entry errors poorly communicated hires and terminations in addition to absence management and system setups and then when you round all of it off and the data is delivered to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they count on the essential numerous 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 challenges business face when they’re paying to workers or otherwise that’s an excellent question I always throw this back and state what is it what does not require to be consisted of best and what does

it require to be thought of there’s differing 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 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 wherever you look ideal ultimately developing a knowledge base is definitely crucial but all over you look with payroll payment they are like very 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 acknowledgment that payroll payments are definitely essential and technology is allowing us to kind of move forward with that it likewise too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and finance groups work closer together than ever um I’m constantly surprised when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work 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 frequently split and cut up um ultimately it’s payroll is an end-to-end procedure it’s the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the

world we reside in and wellness being increasingly more crucial to contribute to type of the level of complexity there’s increasingly more benefits being organ or being provided by services throughout the world so again you’re simply seeking to include more and more payments to this already complicated landscape so if you type of got any experience well I’m from your vast experience here and I’m sure but have you got any experience in kind of genuine difficulties or genuine difficult sort of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that’s in fact managing the payment side of things however you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to develop additional handoffs at the same times that we operate in they just 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 a period 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 concurred and rightly as you said payroll is the single most significant liability that any company has from an expense point of view from an effect perspective on staff members it is absolutely crucial that it’s done properly and on time so what we suggest 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 damaging impact on individuals’s well-being and numerous other factors if people aren’t paid uh I’ve always been astonished entering this Market kind of the last 5 to ten years is how little thanks the

The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it’s from all workers or not. Payroll is a crucial cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it’s viewed as simply a regular task. This is how it’s viewed externally also. Therefore, it is necessary to guarantee that jobs like Wi-Fi Global and other vital matters are done correctly. Using the first Global Payments very first payroll payment option is a terrific preliminary step towards providing an extensive payroll solution for staff members worldwide. Standardization, international procedures, and lowering the number of tools, platforms, and savings account necessary for worldwide payroll are essential factors in attaining company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things do not go as prepared. Ultimately, we do not do it for the gratitude.

anyway we understand how how crucial 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 everybody that’s associated with those procedures and likewise so envision sorry I’m simply I was just gon na state picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I’m sure we’re speaking about hundreds of thousands potentially Millions think of getting that many thank you notes um I indicate it ‘d be interesting to see the number of Post-it notes you got but it would definitely be an intriguing task attempting to clean all those up for sure oh absolutely 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 try to look through them and actually see what was going on and sort of try to return to everybody so proceeding look why do companies select to primary separate bank accounts there are Papaya Global Argentina companies out there doing precisely this for specific countries and I’ve operated in a service or lots of services doing exactly that I can state it doesn’t constantly feel efficient and it does create more work I know we’re not deliberately doing that we’re not developing extra work for anyone where we don’t need to and any person that’s dealing with that procedure I ‘d be interested to hear your thoughts 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 standard I think people have actually got so utilized to we need a brand-new bank account we open an entity and appropriately so you require it for payroll functions however 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 adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other methods um to to type of do it so I believe there’s a variety I think this is a procedure that requires looking at it needs changing but eventually individuals are very stuck to what they recognize

with best um modification is a hard thing we all do not like change um so I think it’s just type of moving away from the norm as we’ve said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having maintaining numerous savings account but there’s a huge amount of complexity opts for setting up a savings account preserving it guaranteeing it can send out International transfers guaranteeing it’s set up with the best user accesses for individual individuals so the complexity is huge however I believe the sincere response is change um people haven’t been able to change or haven’t had always the knowledge to truly make that change into alternate Solutions other than opening a checking account I think you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to alter however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what could practically be determined to be the next Century approximately there is a lot to monitor and this approach does posture a number of difficulties um so Johnny might you tell us about those difficulties yeah obviously so there’s a range right there is so

I simply did you switched our Business 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 employees you deserve a corner workplace with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you Papaya Global Argentina

Over the last five or six years …Papaya Global Argentina… functions on the service provider side and also on the vendor side from a payroll point of view so actually anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we’ll just provide everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we’ll sort of let them do that so it ‘d be quite intriguing and I can see it going on already simply to hear where everyone is um it’s nice to to kind 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 drizzling here it’s extremely really uninspiring and I want I was somewhere else at this moment in time alright so let’s get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business keep different

checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we’ll likewise go over a wrap-up which must leave his time at the very very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more common and handling them ends up being more and more complicated Global companies are wanting to find Solutions and brand-new methods to simplify processes especially from a payroll and cross-border payment viewpoint numerous companies keep different savings account just for payroll while some have multiple accounts in different countries does it make good sense for business to maintain separate checking account often in different countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies simplify the episode complex processes of

making payroll payments precisely efficiently securely and on time during this webinar we’ll stroll you through the international pros and cons of a payroll wallet versus a payroll bank account how companies precisely forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one country but when you’re doing it globally it’s next level and Beyond it ends up being complicated for a variety of reasons most notably guidelines compliance information security and banking rules then there are the large numbers they add additional complexity the global Workforce is presently three and a half billion people by 2030 it’s approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll design there’s frequently an overwhelming variety of various systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in large amounts and or extremely really fundamental there’s no genuine consistency framework we’re living in a period of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind whenever I I think

about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that’s another number that offers me sleepless nights and rather frankly the more a company spends on global payroll the less of a photo they see an absence of visibility likewise encompasses payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide companies have revealed 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 due to time reporting bad HCM information information entry mistakes poorly communicated hires and terminations in addition to lack management and system configurations and then when you round it all off and the information is shipped to the incorrect location the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments don’t run efficiently if they depend on the essential several procedures 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 service face when they’re making payments to staff members or otherwise that’s a great question I constantly throw this back and state what is it what doesn’t require to be consisted of best 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 nation there’s payment timespan there’s payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the consumer’s own in-country account so there’s complexity any place you look ideal eventually building a knowledge base is absolutely critical but everywhere you look with payroll payment they are like very payments no if but some babies 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 recognition that payroll payments are definitely essential and innovation is permitting us to type of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely vital that payroll and finance groups work more detailed together than ever um I’m always amazed 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 operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often 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 anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the

world we reside in and wellness being increasingly more crucial to add to kind of the level of intricacy there’s increasingly more benefits being organ or being used by organizations across the world so once again you’re simply seeking to add a growing number of payments to this currently complicated landscape so if you type of got any experience well I’m from your large experience here and I’m sure but have you got any experience in kind of real challenges or real difficult type of pay uses to play to pay people I think yeah I mean over the last well yeah a couple of years I would definitely say 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 task there are groups feeding information into the next function as it were that’s really handling the payment side of things but you know 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 in the processes that we operate 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 working in today there is no reason that we are still making this as challenging as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from an expense perspective from an impact viewpoint on employees it is absolutely crucial 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 need to be done right it has the most significant damaging impact on people’s wellness and lots of other elements if people aren’t paid uh I have actually always been surprised entering this Market kind of the last five to ten years is how little thanks the

The payroll team may not have actually been thanked for properly processing payroll during 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 an essential cycle, and people just see when things go wrong. However, when things go right, it’s viewed as just a regular job. This is how it’s viewed externally also. Therefore, it is essential to make sure that tasks like Wi-Fi Global and other essential matters are done properly. Utilizing the very first International Payments first payroll payment solution is a terrific preliminary action towards offering an extensive payroll service for employees worldwide. Standardization, global processes, and minimizing the variety of tools, platforms, and bank accounts needed for worldwide payroll are key factors in achieving service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things do not go as prepared. Eventually, we do not do it for the gratitude.

anyway we understand 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 simple as possible for everybody that’s involved in those procedures and likewise so envision sorry I’m simply I was just gon na say think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we’re discussing hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I suggest it ‘d be interesting to see how many Post-it notes you got but it would certainly be an intriguing task trying to clean up all those up for sure oh absolutely 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 try to look through them and in fact see what was going on and kind of try to get back to everyone so carrying on appearance why do companies choose to main separate bank accounts there are Papaya Global Argentina companies out there doing precisely this for specific nations and I’ve worked in an organization or many services doing precisely that I can state it doesn’t constantly feel efficient and it does develop more work I know we’re not intentionally doing that we’re not developing extra work for any person where we don’t have to and anybody that’s handling 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 amount 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 rightly so you need it for payroll purposes but there are a variety of markets where it’s not a requirement so I believe it’s simply been the requirement and the standard individuals have actually adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there’s a range I think this is a process that needs taking a look at it needs altering however ultimately individuals are really stuck to what they recognize

with best um modification is a hard thing we all don’t 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 lot of track of stuff um I understand obviously the benefits of having preserving numerous checking account but there’s a substantial amount of complexity chooses setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it’s set up with the best user accesses for individual individuals so the intricacy is big but I believe the sincere answer is change um individuals have not been able to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to change but we’ve always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might almost be determined to be the next Century or so there is a lot to keep track of and this method does pose several obstacles um so Johnny could you inform us about those challenges yeah naturally so there’s a variety right there is so

I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments. Papaya Global Argentina