Over the last five or 6 years …Papaya Global Taiwan… functions on the provider side and also on the supplier side from a payroll viewpoint so actually looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we’ll simply give everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we’ll kind of let them do that so it ‘d be quite fascinating and I can see it going on currently just to hear where everyone is um it’s nice to to kind of like see where everybody comes from and I actually do hope it’s much sunnier than it is in the UK today definitely not the peak of the sunshine is it it’s not no it’s it’s raining here it’s extremely very dreary and I want I was elsewhere at this moment in time okay 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 managing International payroll why companies keep different

Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.

Ensuring accurate, efficient, and prompt payroll payments is a complex difficulty for organizations running internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how companies forecast payroll costs to optimize working capital, and find how streamlining international payroll payments can transform them from a challenging task into a tactical possession.

Managing payroll globally is a challenging job due to different policies, compliance requirements, data security issues, and banking rules. The sheer number of staff members and organizations adds to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million services worldwide.

Traditional payroll systems frequently result in manual procedures, data silos, and an absence of integration, leading to disparities and inefficiencies. Regardless of living in a period of technological developments, payroll management has actually been slow 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 international payroll payments.

about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that’s another number that gives me sleepless nights and rather honestly the more an organization spends on global payroll the less of an image they see a lack of presence likewise extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of global organizations 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 because of time reporting poor HCM information information entry mistakes badly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the information is shipped to the wrong location the average cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don’t run efficiently if they rely on the needed several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties company face when they’re making payments to employees or otherwise that’s a good concern I always toss this back and say what is it what does not require to be consisted of ideal and what does

it need to be thought about there’s differing Bank details so the length of an eye band a swift an account number routing code per nation there’s payment timespan there’s payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer’s own in-country account so there’s intricacy anywhere you look ideal eventually constructing a knowledge base is definitely important but everywhere you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort 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 type of progress with that it also also to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is definitely necessary that payroll and finance groups work better together than ever um I’m constantly astonished when individuals state 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 profession would they split the payroll payment from estimation 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 eventually it’s payroll is an end-to-end process it’s the point of information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the

The modern world puts a high value on well-being and the settlement landscape is becoming increasingly complex. Companies are constantly presenting new advantages and payment options, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this does not have to hold true. In today’s technically innovative era, there’s no justification for preserving cumbersome procedures. Payroll, the company’s biggest expenditure, should be processed correctly and on time. Even slight delays can adversely impact workers’ wellness and have far-reaching consequences. For that reason, it’s important to focus on accurate and prompt payments.

The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it’s from all staff members or not. Payroll is an important cycle, and people only see when things fail. Nevertheless, when things go right, it’s viewed as simply a routine job. This is how it’s viewed externally too. Therefore, it is essential to guarantee that jobs like Wi-Fi Global and other important matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment solution is a terrific initial action towards providing a comprehensive payroll solution for staff members worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and checking account required for worldwide payroll are crucial consider accomplishing service success. While we don’t anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things do not go as planned. Eventually, we don’t do it for the thankfulness.

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 simple as possible for everybody that’s associated with those procedures and also so envision sorry I’m simply I was just gon na say envision 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 talking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I indicate it ‘d be interesting to see how many Post-it notes you got however it would certainly be an interesting job trying to clean up all those up for sure oh definitely I can’t envision the size of my my Outlook inbox if that held true um you ‘d require days of the week to try to check out them and actually see what was going on and type of try to return to everyone so proceeding appearance why do companies choose to primary different checking account there are Papaya Global Taiwan services out there doing precisely this for specific countries and I have actually worked in a company or lots of companies doing precisely that I can say it does not always feel effective and it does develop more work I know we’re not deliberately doing that we’re not producing additional work for anybody where we do not need to and anyone that’s handling that procedure 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 believe many reasons one is it’s the requirement I think individuals have got so used to we require a brand-new savings 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 simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there’s a variety I think this is a process that requires taking a look at it needs changing but eventually people are very stuck with what they recognize

with right um modification is a difficult thing we all do not like change um so I believe it’s simply sort of moving far from the standard as we’ve said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having maintaining numerous bank accounts but there’s a huge amount of intricacy chooses establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it’s established with the right user accesses for private individuals so the complexity is big however I think the sincere answer is modification um people have not had the ability to change or haven’t had always the understanding to really make that change into alternate Solutions aside from opening a checking 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 alter however we’ve always done it that way is no genuine reason for not looking 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 so there is a lot to track and this approach does pose several difficulties um so Johnny might you tell us about those challenges yeah obviously so there’s a range right there is so

I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you deserve a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you Papaya Global Taiwan

Over the last five or six years …Papaya Global Taiwan… roles on the company side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we’ll simply offer everyone another couple of uh well one of the 30 seconds or so 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 currently 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 extremely really gloomy and I wish I was somewhere else at this moment in time alright so let’s start 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 companies maintain separate

Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is especially beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping different checking account for payroll in various nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a strategic asset 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.

Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to optimize working capital, and find how streamlining worldwide payroll payments can change them from a difficult job into a strategic possession.

Managing payroll globally is a difficult task due to various guidelines, compliance requirements, data security issues, and banking guidelines. The sheer number of employees and services adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million companies worldwide.

Standard payroll systems typically result in manual procedures, information silos, and a lack of combination, resulting in disparities and inefficiencies. Regardless of residing in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to offer insights and options to simplify 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 say they have Workforce data in real time that’s another number that provides me sleepless nights and rather frankly the more a service invests in international payroll the less of a picture they see an absence of presence also extends to payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal almost half of worldwide organizations have actually expressed that they do not 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 information information entry errors badly communicated hires and terminations as well as absence management and system configurations and after that when you round everything off and the information is shipped to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once 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 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 company face when they’re making payments to employees or otherwise that’s an excellent question I constantly throw this back and say what is it what does not require to be included best 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 timespan there’s payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer’s own in-country account so there’s complexity wherever you look right ultimately developing a knowledge base is definitely crucial but all over you look with payroll payment they resemble incredibly payments no if however some infants 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 believe there’s now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to type of move on with that it also too to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and finance teams work closer together than ever um I’m always amazed when individuals state I’ve split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as 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 data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the

world we live in and well-being being increasingly more essential to contribute to kind of the level of intricacy there’s a growing number of advantages being organ or being offered by companies throughout the world so once again you’re just aiming to add more and more payments to this currently intricate landscape so if you type of got any experience well I’m from your large experience here and I make sure but have you got any experience in kind of genuine difficulties or real tough type of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of decades I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding info into the next function as it were that’s really handling 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 extra handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they don’t make them what they require to be in in an era of tech and an age that you know that we are working in today there is no reason why we are still making this as difficult as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any business has from an expense viewpoint from an effect perspective on employees it is absolutely vital 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 have to be done right it has the most significant detrimental impact on people’s well-being and many other aspects if people aren’t paid uh I have actually constantly been impressed entering into this Market type of the last 5 to 10 years is how little thanks the

payroll group get um so I’m unsure anyone 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 workers or not um however eventually payroll is such an essential 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 think that’s how it’s seen from the external deem well um so yeah it’s also like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment service is a great primary step um offering an end-to-end payroll service for your workers internationally again I think is another huge um procedure again aligning and ensuring you have standardization International procedures all of those things are definitely essential to success success of services and minimizing the number of tools platforms and checking 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 countless them within a payroll cycle don’t expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven’t gone rather where they’re suggested to be um I do not believe any of us are actually doing that for for the thanks

anyway we understand how how essential 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 picture sorry I’m simply I was just gon na say envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we’re talking about numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I mean it ‘d be interesting to see how many Post-it notes you got but it would definitely be an interesting task trying to clean all those up for sure oh definitely I can’t imagine the size of my my Outlook inbox if that was the case um you ‘d require days of the week to try to check out them and actually see what was going on and type of try to return to everybody so carrying on look why do companies pick to primary separate savings account there are Papaya Global Taiwan organizations out there doing exactly this for particular nations and I have actually operated in a service or many businesses doing precisely that I can say it does not always feel effective and it does create more work I understand we’re not intentionally doing that we’re not creating extra work for anyone where we don’t need to and any person 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 amount that we are I believe lots of reasons one is it’s the requirement I think people have actually got so used to we require a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it’s not a requirement so I believe it’s simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there’s a range I think this is a procedure that needs taking a look at it needs changing however eventually individuals are very stuck with what they’re familiar

with right um modification is a tough thing we all do not like change um so I believe it’s simply kind of moving far from the norm as we’ve said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having preserving multiple bank accounts however there’s a big quantity of intricacy goes with establishing a bank account preserving it ensuring it can send out International transfers ensuring it’s established with the best user accesses for private people so the intricacy is huge but I believe the truthful answer is modification um individuals haven’t been able to change or have not had always the understanding to really make that change into alternate Solutions other than opening a checking account I believe you’ve struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we have actually 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 know what could practically be determined to be the next Century or so there is a lot to monitor and this method does pose numerous obstacles um so Johnny could you inform us about those difficulties yeah of course so there’s a range right there is so

I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it’s like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you Papaya Global Taiwan