Over the last five or 6 years …Papaya Global Indonesia… functions on the provider side and also on the vendor side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we’ll just give everybody another number 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 interesting 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 really 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 really very gloomy and I want I was somewhere else at this moment in time all right so let’s start our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business preserve separate

Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining different bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.

making payroll payments accurately effectively 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 enhancing Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in enough 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 factors most significantly regulations compliance data security and banking rules then there are the large numbers they add additional complexity the worldwide Labor force is presently 3 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 presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the standard payroll model there’s often an overwhelming number of different systems leading to time-consuming manual procedures and silos the number of Integrations could be non-existent in large quantities and or really really fundamental there’s no real consistency framework we’re living in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind each time I I believe

about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that’s another number that gives me sleep deprived nights and rather honestly the more a company spends on global payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of global businesses have actually expressed that they don’t have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes improperly interacted hires and terminations in addition to lack management and system setups and then when you round everything off and the data is delivered to the wrong place the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments don’t run efficiently if they count on the necessary several processes systems and partners it is just 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 staff members or otherwise that’s an excellent concern I constantly toss this back and say what is it what does not need to be included right and what does

it need to be thought of 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 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 intricacy anywhere you look best ultimately developing a knowledge base is definitely vital however all over you look with payroll payment they are like super payments no if but 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 believe there’s now a bit more acknowledgment that payroll payments are definitely basic and technology is enabling us to sort of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is definitely necessary that payroll and finance teams work better together than ever um I’m always impressed when people say I’ve split payroll and payment um if you stroll down the street and asked anyone 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 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 also paying statutory authorities and on statutory 3rd parties so with the

The modern world places a high worth on well-being and the payment landscape is becoming progressively elaborate. Services are continuously introducing new advantages and payment choices, which contributes to the general intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my viewpoint, this does not need to hold true. In today’s technically advanced era, there’s no justification for maintaining troublesome procedures. Payroll, the business’s most significant cost, should be processed correctly and on time. Even slight delays can adversely affect employees’ wellness and have significant consequences. Therefore, it’s critical to prioritize precise and timely payments.

The payroll group might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it’s from all staff members or not. Payroll is a crucial cycle, and people only observe when things fail. However, when things go right, it’s viewed as just a routine job. This is how it’s perceived externally also. Therefore, it is essential to ensure that jobs like Wi-Fi Global and other crucial matters are done correctly. Utilizing the very first International Payments first payroll payment service is a terrific initial step towards offering an extensive payroll service for staff members worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and savings account essential for international payroll are essential consider achieving business success. While we don’t anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things don’t go as planned. Ultimately, we don’t do it for the gratitude.

anyway we understand how how crucial a function it is which’s why we do it that’s why we get on with it and this is why we’re talking today about making it as simple as possible for everybody that’s associated with those procedures and likewise so picture sorry I’m simply I was just gon na state think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we’re speaking about numerous thousands potentially Millions think of getting that lots of thank you notes um I indicate it ‘d be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean up 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 check out them and really see what was going on and type of try to get back to everybody so proceeding appearance why do companies choose to primary separate checking account there are Papaya Global Indonesia businesses out there doing exactly this for particular countries and I’ve worked in an organization or many services doing precisely that I can say it doesn’t constantly feel effective and it does develop more work I understand we’re not purposely doing that we’re not producing additional work for anyone where we do not have to and anybody that’s handling 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 amount that we are I believe many reasons one is it’s the requirement I believe individuals have actually got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it’s not a requirement so I think it’s just been the requirement and the standard the people have actually embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other methods um to to type of do it so I think there’s a variety I think this is a procedure that needs looking at it needs changing however eventually individuals are extremely stuck with what they’re familiar

with best um change is a tough thing all of us do not like change um so I think it’s just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having keeping multiple bank accounts however there’s a huge quantity of intricacy opts for setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it’s established with the best user accesses for private individuals so the complexity is big but I believe the sincere response is change um individuals have not had the ability to change or haven’t had necessarily the knowledge to truly make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter but we’ve always done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to keep an eye on and this method does posture several difficulties um so Johnny might you tell us about those challenges yeah naturally so there’s a variety right there is so

I just recently made a modification to our Enterprise 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 acquired another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your achievements. Papaya Global Indonesia

Over the last 5 or six years …Papaya Global Indonesia… functions on the supplier side and likewise on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we’ll just offer everybody another number of uh well among the 30 seconds or so 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 everyone is um it’s nice to to sort of like see where everyone comes from and I actually 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 drizzling here it’s really really bleak and I wish I was somewhere else at this moment in time all right so let’s get going our program for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business keep different

bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we’ll also discuss a wrap-up which ought to leave his time at the extremely very 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 labor forces become more and more common and managing them ends up being a growing number of intricate International companies are aiming to find Solutions and new methods to streamline procedures especially from a payroll and cross-border payment perspective numerous companies keep separate savings account just for payroll while some have several accounts in various nations does it make sense for business to maintain different bank accounts in some cases in different countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies streamline the episode complex procedures of

Making sure precise, effective, and timely payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, learn how companies forecast payroll costs to enhance working capital, and find how streamlining global payroll payments can change them from a burdensome job into a strategic asset.

Managing payroll internationally is a challenging job due to various guidelines, compliance requirements, data security concerns, and banking rules. The large number of staff members and companies adds to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.

Conventional payroll systems frequently result in manual processes, data silos, and an absence of combination, causing inconsistencies and inadequacies. Regardless of living in an age of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to offer insights and solutions to simplify and enhance international payroll payments.

about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that’s another number that offers me sleepless nights and quite frankly the more a company spends on international payroll the less of a picture they see a lack of visibility also encompasses payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of international services have actually revealed 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 due to time reporting bad HCM data data entry errors inadequately interacted hires and terminations as well as lack management and system configurations and then when you round everything off and the information is delivered to the incorrect place the typical expense of a global 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 numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they’re making payments to employees or otherwise that’s a good question I always toss this back and state what is it what does not need to be consisted of best and what does

it need to be thought of there’s varying 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 need to pay from the client’s own in-country account so there’s complexity wherever you look best ultimately developing a knowledge base is definitely vital however everywhere you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it’s closer than ever I think there’s now a bit more recognition that payroll payments are definitely essential and technology is allowing us to type of move forward with that it also as well to contribute to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely crucial that payroll and finance teams work better together than ever um I’m constantly surprised when people say I’ve split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn’t operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as 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 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 third parties so with the

The modern world positions a high value on well-being and the compensation landscape is ending up being progressively complex. Organizations are continuously introducing brand-new benefits and payment options, which adds to the general complexity. Large corporations frequently divide their payroll and payment processing into separate groups, which can lead to inadequacies and traffic jams. In my viewpoint, this does not have to be the case. In today’s technically innovative age, there’s no validation for keeping cumbersome procedures. Payroll, the company’s most significant expense, need to be processed correctly and on time. Even slight hold-ups can adversely affect staff members’ well-being and have far-reaching repercussions. Therefore, it’s important to prioritize precise and timely payments.

payroll group get um so I’m uncertain anyone on this type of webinar has been told thank you for processing my payroll properly if you have it ‘d be excellent to hear your success story and whether that’s been from all staff members or not um however eventually payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it’s simply 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 crucial that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment service is a great first step um providing an end-to-end payroll service for your workers globally once again I think is another huge um process again aligning and guaranteeing you have standardization International procedures all of those things are absolutely crucial to success success of businesses and decreasing the variety of tools platforms and checking account they need for their International 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 ever had a hundred countless them within a payroll cycle don’t expect to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone quite where they’re suggested to be um I don’t believe any of us are in fact doing that for for the thanks

anyway we know 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 easy as possible for everybody that’s involved in those processes and also so imagine sorry I’m simply I was just gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we’re speaking about numerous thousands potentially Millions envision getting that lots of thank you notes um I indicate it ‘d be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying to clean up 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 look through them and in fact see what was going on and type of shot to return to everyone so moving on look why do companies choose to primary separate checking account there are Papaya Global Indonesia companies out there doing precisely this for specific nations and I have actually operated in a business or many companies doing exactly that I can say it doesn’t constantly feel efficient and it does create more work I understand we’re not deliberately doing that we’re not developing extra work for anyone where we don’t need to and anyone 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 quantity that we are I think lots of reasons one is it’s the requirement I think people have actually got so utilized to we need a new bank account we open an entity and rightly 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 just been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there’s a variety I believe this is a process that requires taking a look at it requires changing but ultimately people are very stuck to what they’re familiar

with best um change is a hard thing all of us don’t like modification um so I believe it’s just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having maintaining numerous checking account however there’s a substantial quantity of intricacy chooses establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it’s established with the right user accesses for private people so the complexity is substantial however I think the sincere answer is change um people haven’t had the ability to alter or have not had always the understanding to really make that change into alternate Solutions besides opening a bank account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is an element of resistance to alter however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could almost be identified to be the next Century or two there is a lot to keep track of and this method does position several obstacles um so Johnny could you tell us about those obstacles yeah naturally so there’s a range right there is so

I just recently made a modification to our Enterprise 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 gained another CFO, and with this improved capability, I have successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements. Papaya Global Indonesia