Over the last 5 or six years …Papaya Global Sbddesktop Exe Stopped Working… roles on the provider side and also on the vendor side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we’ll simply provide everyone another couple of uh well one of the 30 seconds or so 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 type of like see where everyone comes from and I actually do hope it’s much sunnier than it remains 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 very really uninspiring and I wish I was somewhere else at this moment in time all right so let’s get started our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why business maintain different

savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic property uh we’ll likewise go over a wrap-up which should leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more common and managing them ends up being a growing number of intricate Worldwide companies are aiming to discover Solutions and new methods to streamline procedures particularly from a payroll and cross-border payment standpoint numerous companies maintain separate savings account just for payroll while some have numerous accounts in various countries does it make sense for business to maintain different savings account in some cases in various nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business streamline the episode complex processes of

making payroll payments precisely effectively firmly and on time throughout this webinar we’ll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one nation however when you’re doing it globally it’s next level and Beyond it becomes intricate for a range of reasons most significantly regulations compliance information security and banking guidelines then there are the large numbers they add more intricacy the international Labor force is currently three and a half billion people by 2030 it’s estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 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 conventional payroll model there’s typically a frustrating number of various systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big amounts and or really extremely fundamental there’s no genuine consistency framework we’re residing in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind whenever I I believe

about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that’s another number that provides me sleep deprived nights and rather frankly the more a business spends on worldwide payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the transaction nearly half of international organizations have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes poorly interacted hires and terminations along with lack management and system setups and after that when you round all of it off and the data is delivered to the wrong location the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don’t run efficiently if they rely on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they’re making payments to employees or otherwise that’s an excellent question I always throw this back and state what is it what doesn’t require to be consisted of ideal and what does

it need to be thought about there’s varying 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 have to pay from the client’s own in-country account so there’s intricacy any place you look ideal ultimately building a knowledge base is absolutely critical however everywhere you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort 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 fundamental and innovation is enabling us to kind of progress with that it likewise as well to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely vital that payroll and finance teams work more detailed together than ever um I’m constantly impressed when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone 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 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 data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the

world we live in and wellness being more and more crucial to add to kind of the level of complexity there’s more and more benefits being organ or being offered by businesses across the world so once again you’re just wanting to include a growing number of payments to this currently intricate landscape so if you kind 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 real obstacles or genuine challenging type of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding details into the next function as it were that’s really handling the payment side of things but you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we require to create extra handoffs in the processes that we operate in they just make them more prompt they make them less effective and they don’t make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason that we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any business has from an expense perspective from an impact perspective on employees it is definitely crucial that it’s done correctly 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 greatest harmful effect on individuals’s well-being and numerous other aspects if individuals aren’t paid uh I have actually always been astonished entering this Market type of the last five to ten years is how little thanks the

The payroll team might not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it’s from all employees or not. Payroll is a crucial cycle, and individuals only discover when things fail. However, when things go right, it’s seen as simply a regular task. This is how it’s perceived externally also. Therefore, it is important to make sure that tasks like Wi-Fi Global and other crucial matters are done properly. Utilizing the first Worldwide Payments very first payroll payment solution is a great initial action towards providing a detailed payroll option for employees worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and savings account required for worldwide payroll are key consider accomplishing company success. While we don’t expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things do not go as planned. Eventually, we don’t do it for the thankfulness.

anyway we understand how how important a function it is which’s why we do it that’s why we get on with it and this is why we’re talking today about making it as simple as possible for everyone that’s involved in those processes and also so think of sorry I’m simply I was just gon na state picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we’re speaking about numerous thousands possibly Millions picture 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 definitely be an interesting job trying to clean all those up for sure oh absolutely I can’t envision 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 in fact see what was going on and kind of shot to return to everyone so moving on appearance why do companies choose to main different savings account there are Papaya Global Sbddesktop Exe Stopped Working companies out there doing precisely this for specific countries and I’ve worked in an organization or numerous organizations doing exactly that I can state it does not constantly feel effective and it does develop more work I understand we’re not deliberately doing that we’re not producing additional work for anyone 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 think that we’re doing that in in the in the amount that we are I think many factors one is it’s the standard I think people have actually got so used to we require a new checking 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 believe it’s simply been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and lots of other methods um to to kind of do it so I believe there’s a range I believe this is a process that needs looking at it needs changing but ultimately people are really stuck to what they recognize

with best um modification is a hard thing all of us don’t like change um so I think it’s just sort of moving far from the norm as we’ve said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having maintaining several savings account however there’s a substantial amount of complexity chooses setting up a bank account preserving it ensuring it can send International transfers ensuring it’s set up with the ideal user accesses for private individuals so the complexity is big but I believe the sincere answer is change um individuals haven’t been able to alter or haven’t had necessarily the understanding to really make that change into alternate Solutions besides opening a checking account I think you’ve struck the nail on the head I believe it is knowledge you know and there is a component of resistance to alter however 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 approximately there is a lot to keep an eye on and this approach does pose numerous obstacles um so Johnny could you tell us about those challenges yeah of course so there’s a range 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 tasks on one platform. It seems like our CFO has gained another CFO, and with this improved capability, I have effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is more detailed, considering your accomplishments. Papaya Global Sbddesktop Exe Stopped Working

Over the last five or six years …Papaya Global Sbddesktop.Exe Stopped Working… functions on the company side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we’ll just give everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we’ll sort of let them do that so it ‘d be quite fascinating and I can see it going on already just to hear where everyone is um it’s nice to to sort of like see where everybody comes from and I really do hope it’s much sunnier than it is 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 really really bleak 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 difficulty years of handling Global payroll why companies preserve separate

bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Global payroll payments as a tactical possession uh we’ll also discuss a wrap-up which ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of typical and managing them becomes a growing number of complicated Worldwide organizations are seeking to discover Solutions and brand-new ways to streamline procedures especially from a payroll and cross-border payment viewpoint numerous companies preserve separate savings account just for payroll while some have multiple accounts in various countries does it make sense for business to keep separate checking account often in various nations it does but just for payroll is there a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business streamline the episode complex procedures of

making payroll payments properly efficiently safely and on time throughout this webinar we’ll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how business accurately forecast their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in sufficient in one nation however when you’re doing it worldwide it’s next level and Beyond it ends up being intricate for a range of reasons most importantly policies compliance information security and banking rules then there are the sheer numbers they include more intricacy the international Workforce is presently three and a half billion people by 2030 it’s estimated 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 businesses and growing all doing their own thing around the globe in the conventional payroll design there’s typically a frustrating variety of various systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in large quantities and or extremely very basic there’s no genuine consistency structure we’re residing in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind each time I I believe

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 Labor force information in real time that’s another number that gives me sleep deprived nights and quite frankly the more a business spends on global payroll the less of an image they see an absence of exposure also extends to payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal almost half of global businesses have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors poorly interacted hires and terminations in addition to lack management and system setups and after that when you round all of it off and the data is shipped to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they depend on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they’re making payments to staff members or otherwise that’s a good concern I constantly throw this back and say what is it what doesn’t require to be consisted of ideal and what does

it require to be thought about there’s varying Bank details so the length of an eye band a swift an account number routing code per country there’s payment timespan there’s payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client’s own in-country account so there’s intricacy anywhere you look best eventually constructing a knowledge base is definitely important but everywhere you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 technology is enabling us to type of progress with that it also as well to add to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is definitely vital that payroll and financing groups work better together than ever um I’m constantly astonished when individuals say I’ve split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn’t operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately 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 but likewise paying statutory authorities and on statutory 3rd parties so with the

The modern-day world places a high worth on wellness and the payment landscape is becoming increasingly intricate. Businesses are constantly presenting new benefits and payment choices, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into different teams, which can lead to inadequacies and traffic jams. In my opinion, this does not have to be the case. In today’s technically sophisticated era, there’s no validation for maintaining troublesome procedures. Payroll, the business’s biggest expenditure, need to be processed correctly and on time. Even small hold-ups can adversely affect employees’ wellness and have far-reaching repercussions. Therefore, it’s important to prioritize precise and prompt payments.

payroll team get um so I’m unsure anybody on this kind of webinar has been told 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 staff members or not um but ultimately payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it’s simply a tick box exercise and I believe that’s how it’s seen from the external view as well um so yeah it’s likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment solution is a great first step um supplying an end-to-end payroll service for your workers worldwide once again I believe is another huge um procedure again lining up and ensuring you have standardization International processes all of those things are definitely crucial to success success of services and reducing the number of tools platforms and checking account they require 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 had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven’t gone quite where they’re indicated to be um I do not think any of us are in fact doing that for for the thanks

anyhow we understand how how essential a role it is which’s why we do it that’s why we get on with it and this is why we’re talking today about making it as easy as possible for everybody that’s involved in those processes and likewise so imagine sorry I’m just I was just gon na state envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we’re talking about hundreds of thousands possibly Millions think of getting that lots of thank you notes um I suggest it ‘d be interesting to see how many Post-it notes you got however it would certainly be an intriguing task attempting to clean up 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 look through them and really see what was going on and kind of try to get back to everyone so proceeding appearance why do companies choose to main different bank accounts there are Papaya Global Sbddesktop.Exe Stopped Working companies out there doing exactly this for specific nations and I’ve worked in a business or numerous companies doing exactly that I can state it doesn’t always feel effective and it does create more work I understand we’re not purposely doing that we’re not developing extra work for any person where we don’t have to and anyone that’s managing that procedure 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 numerous factors one is it’s the requirement I believe people have got so used to we need a new savings 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 believe it’s just been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there’s a range I believe this is a procedure that needs taking a look at it requires altering however ultimately people are very stuck with what they’re familiar

with ideal um modification is a difficult thing we all do not like change um so I think it’s simply sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having keeping several checking account but there’s a big quantity of intricacy goes with setting up a checking account maintaining it guaranteeing it can send International transfers ensuring it’s established with the best user accesses for individual people so the complexity is huge however I believe the sincere response is change um people haven’t had the ability to alter or haven’t had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe 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’ve constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be figured out to be the next Century approximately there is a lot to monitor and this method does pose a number of obstacles um so Johnny could 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 seems like our CFO has actually gotten another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments. Papaya Global Sbddesktop.Exe Stopped Working