Papaya Global System Contact Number FAQ – Payroll Management 2024

Over the last 5 or 6 years …Papaya Global System Contact Number… roles on the company side and also on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we’ll simply offer everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we’ll kind of let them do that so it ‘d be quite fascinating and I can see it going on currently simply to hear where everybody is um it’s nice to to sort of like see where everyone originates from and I truly 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 raining here it’s really extremely bleak and I wish I was elsewhere at this moment in time fine so let’s get going our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies keep separate

Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of maintaining different bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical asset 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 precisely efficiently safely and on time during this webinar we’ll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one country however when you’re doing it internationally it’s next level and Beyond it becomes intricate for a variety of factors most notably guidelines compliance information security and banking rules then there are the large numbers they include further intricacy the worldwide Labor force is presently 3 and a half billion people by 2030 it’s approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll design there’s typically a frustrating variety of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in big quantities and or really really fundamental there’s no real consistency framework we’re living in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently 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 services state they have Labor force information in real time that’s another number that offers me sleep deprived nights and quite honestly the more an organization spends on global payroll the less of a picture they see a lack of presence also encompasses payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the transaction almost half of international companies have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes badly interacted hires and terminations along with absence management and system configurations and then when you round it all off and the information is delivered to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they depend on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they’re paying to staff members or otherwise that’s a great question I always throw this back and state what is it what does not need to be consisted of best and what does

it require to be thought about there’s differing Bank details so the length of an eye band a swift an account number routing code per country there’s payment amount of time there’s payment capabilities so can you pay it from International or do you have 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 ideal eventually developing a knowledge base is definitely crucial but all over you look with payroll payment they resemble incredibly 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 basic and innovation is permitting us to kind of move forward with that it also as well to add to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely important that payroll and financing teams work better together than ever um I’m always impressed 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 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 typically 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 people anywhere they are but also paying statutory authorities and on statutory third parties so with the

world we reside in and wellness being a growing number of crucial to contribute to type of the level of intricacy there’s a growing number of benefits being organ or being provided by organizations across the world so again you’re just seeking to include increasingly more payments to this currently intricate landscape so if you sort of got any experience well I’m from your vast experience here and I’m sure however have you got any experience in kind of real obstacles or real difficult type of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a couple of years I would certainly state that the bigger an organization 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 teams feeding details into the next function as it were that’s really handling the payment side of things but you know in in my viewpoint and my experience that doesn’t necessarily need to be the case you know long gone are the times where we require to develop extra handoffs in the processes that we run in they simply make them more timely they make them less effective and they don’t make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason why we are still making this as difficult as it needs to be concurred and rightly as you said payroll is the single biggest liability that any service has from an expense perspective from an impact point of view on employees it is definitely critical that it’s done properly 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 damaging result on people’s wellness and many other elements if individuals aren’t paid uh I’ve always been surprised entering into this Market type of the last 5 to 10 years is how little thanks the

payroll team get um so I’m not sure anyone on this type of webinar has been informed thank you for processing my payroll correctly if you have it ‘d be great to hear your success story and whether that’s been from all workers or not um but eventually payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it’s just a tick box workout and I think 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 stuff is absolutely essential that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment service is an excellent primary step um providing an end-to-end payroll option for your staff members worldwide once again I think is another substantial um process again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of organizations and reducing the variety of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I’ve never ever had a hundred thousand of them within a payroll cycle don’t anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven’t gone quite where they’re implied to be um I do not think any of us are in fact doing that for for the thanks

anyway we know 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 associated with those processes and also so picture sorry I’m just I was simply gon na state think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I’m sure we’re discussing numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I suggest it ‘d be interesting to see how many Post-it notes you got but it would certainly be an intriguing job 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 held true um you ‘d require days of the week to attempt to check out them and really see what was going on and sort of shot to return to everyone so proceeding look why do companies select to primary different savings account there are Papaya Global System Contact Number businesses out there doing exactly this for particular nations and I have actually operated in a business or many organizations doing precisely that I can say it doesn’t always feel effective and it does produce more work I understand we’re not purposely doing that we’re not developing extra work for anyone where we do not need to and anyone that’s managing 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 think numerous reasons one is it’s the requirement I think people have got so utilized 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 think it’s just been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there’s a variety I think this is a process that needs looking at it needs changing but ultimately individuals are very stuck with what they recognize

with best um change is a hard thing all of us don’t like modification um so I think it’s just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having maintaining numerous bank accounts however there’s a big quantity of complexity goes with setting up a bank account keeping it ensuring it can send out International transfers ensuring it’s set up with the best user accesses for private people so the intricacy is big but I believe the truthful answer is modification um individuals have not had the ability to change or haven’t had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I think you’ve 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 real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be figured out to be the next Century or so there is a lot to keep track of and this method does present a number of challenges um so Johnny could you inform us about those challenges yeah of course so there’s a variety right there is so

I simply did you changed 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 Global employees you deserve a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you Papaya Global System Contact Number