Over the last 5 or 6 years …R&D Tax Credit Can Offset Payroll Taxes Papaya Global… roles on the company side and also on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we’ll simply give everyone another number 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 rather intriguing and I can see it going on already just to hear where everybody 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 definitely not the peak of the sunshine is it it’s not no it’s it’s raining here it’s extremely extremely uninspiring and I wish I was elsewhere at this moment in time alright so let’s begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies maintain different

savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic asset uh we’ll likewise go over a recap which should leave his time at the very very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being a growing number of typical and handling them becomes more and more complicated Worldwide companies are aiming to discover Solutions and new ways to simplify processes specifically from a payroll and cross-border payment viewpoint lots of organizations keep separate bank account just for payroll while some have multiple accounts in various nations does it make good sense for business to maintain different savings account sometimes in various countries it does however just for payroll exists a better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international business improve the episode complex procedures of

Making sure accurate, effective, and timely payroll payments is a complex challenge for services running worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll costs to optimize working capital, and find how improving worldwide payroll payments can change them from a burdensome task into a strategic possession.

Managing payroll internationally is a daunting task due to various guidelines, compliance requirements, information security issues, and banking rules. The large variety of workers and services adds to the complexity, with an estimated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million services worldwide.

Traditional payroll systems often result in manual processes, data silos, and a lack of combination, causing inconsistencies and inadequacies. In spite of residing in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to supply insights and options to streamline and enhance global payroll payments.

about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that’s another number that offers me sleep deprived nights and rather frankly the more an organization invests in global payroll the less of a picture they see a lack of exposure also extends to payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of international organizations have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is shipped to the wrong place the typical expense of an international data 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 smoothly if they count on the essential multiple procedures 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 obstacles business face when they’re making payments to workers or otherwise that’s a good concern I constantly throw this back and state what is it what doesn’t need to be consisted of best and what does

it need to be considered there’s differing 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 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 wherever you look best eventually building a knowledge base is absolutely critical but all over you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it’s closer than ever I believe there’s now a bit more recognition that payroll payments are definitely fundamental and innovation is permitting us to sort of progress with that it also as well to add to that payroll and financing need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely essential that payroll and financing teams work closer together than ever um I’m always surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split 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 ultimately it’s payroll is an end-to-end procedure it’s the point of information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the

The modern world positions a high value on well-being and the settlement landscape is ending up being increasingly detailed. Services are continuously introducing brand-new advantages and payment options, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into separate teams, which can cause inadequacies and traffic jams. In my viewpoint, this does not have to hold true. In today’s technically sophisticated age, there’s no validation for preserving troublesome procedures. Payroll, the company’s most significant expense, need to be processed properly and on time. Even small hold-ups can adversely affect employees’ wellness and have significant consequences. Therefore, it’s vital to prioritize precise and prompt payments.

payroll group get um so I’m unsure anybody on this sort of webinar has been told 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 employees or not um but eventually payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it fails however when it goes right it’s just 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 stuff is definitely important that all of this things is done properly so leveraging the first International Payments very first payroll payment option is an excellent first step um providing an end-to-end payroll solution for your staff members internationally again I believe is another substantial um process again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of organizations and minimizing the number of tools platforms and savings account they require 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 have actually never had a hundred countless them within a payroll cycle do not expect 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 rather where they’re meant to be um I do not think any of us are in fact doing that for for the thanks

anyway we know how how crucial 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 simple as possible for everyone that’s involved in those procedures and likewise so imagine sorry I’m simply I was simply gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we’re talking about hundreds of thousands potentially Millions imagine getting that many thank you notes um I mean it ‘d be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task trying to clean up all those up for sure oh definitely I can’t envision the size of my my Outlook inbox if that was the case um you ‘d need days of the week to try to look through them and actually see what was going on and kind of shot to get back to everybody so carrying on look why do business choose to primary different savings account there are R&D Tax Credit Can Offset Payroll Taxes Papaya Global organizations out there doing exactly this for specific countries and I’ve operated in a service or lots of services doing exactly that I can state it does not always feel effective and it does develop more work I know we’re not intentionally doing that we’re not creating extra work for anyone where we do not need to and anybody 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 many factors one is it’s the requirement I believe people have actually got so utilized to we require a brand-new bank account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it’s not a requirement so I think it’s simply been the standard and the standard the people have actually embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and many other methods um to to type of do it so I believe there’s a variety I believe this is a process that requires taking a look at it needs altering however ultimately people are extremely stuck to what they’re familiar

with best um modification is a challenging thing all of us don’t like change um so I believe it’s simply kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having preserving multiple checking account however there’s a substantial amount of complexity opts for establishing a savings account keeping it ensuring it can send out International transfers guaranteeing it’s set up with the ideal user accesses for specific people so the intricacy is substantial but I think the truthful response is modification um individuals have not been able to alter or haven’t had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking 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 however we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century or so there is a lot to monitor and this technique does posture numerous challenges um so Johnny could you tell us about those obstacles yeah of course so there’s a variety right there is so

I recently made a modification to our Enterprise 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 acquired another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your achievements. R&D Tax Credit Can Offset Payroll Taxes Papaya Global

Over the last 5 or six years …Rd Tax Credit Can Offset Payroll Taxes Papaya Global… functions on the provider side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we’ll just give everyone another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we’ll kind of let them do that so it ‘d be rather interesting and I can see it going on already just to hear where everybody is um it’s nice to to sort of like see where everybody comes from and I actually 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 very very uninspiring and I wish I was somewhere else at this moment in time okay so let’s get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies keep separate

checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a strategic property uh we’ll likewise 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 labor forces end up being a growing number of common and managing them ends up being a growing number of intricate Worldwide organizations are seeking to find Solutions and new methods to simplify procedures particularly from a payroll and cross-border payment viewpoint lots of companies keep separate bank account just for payroll while some have numerous accounts in different countries does it make sense for business to preserve separate savings account sometimes in different countries it does however just for payroll exists a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international business simplify the episode complex procedures of

Ensuring accurate, effective, and timely payroll payments is a complex obstacle for services running globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll costs to optimize working capital, and discover how enhancing international payroll payments can transform them from a burdensome task into a tactical possession.

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

Traditional payroll systems often lead to manual procedures, data silos, and a lack of combination, resulting in disparities and ineffectiveness. In spite of living in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to offer insights and options to streamline and enhance worldwide payroll payments.

about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that’s another number that offers me sleep deprived nights and rather frankly the more a business spends on international payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of worldwide businesses have actually expressed that they don’t have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors improperly interacted hires and terminations as well as lack management and system setups and after that when you round all of it off and the data is delivered to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the required numerous 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 company face when they’re making payments to staff members or otherwise that’s a great question I constantly toss this back and say what is it what does not need to be included right and what does

it require to be thought about 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 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 anywhere you look right ultimately building a knowledge base is definitely critical however all over you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 basic and innovation is enabling us to kind of move on with that it also as well to add to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is definitely essential that payroll and financing groups work better together than ever um I’m always astonished when people state I have actually divided 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 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 eventually it’s payroll is an end-to-end process 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 3rd parties so with the

The contemporary world puts a high worth on well-being and the compensation landscape is becoming increasingly elaborate. Organizations are continually introducing brand-new benefits and payment options, which contributes to the total complexity. Large corporations typically divide their payroll and payment processing into separate groups, which can lead to inadequacies and traffic jams. In my opinion, this doesn’t have to hold true. In today’s technologically innovative era, there’s no justification for keeping cumbersome procedures. Payroll, the company’s biggest cost, must be processed correctly and on time. Even small hold-ups can negatively impact workers’ wellness and have significant consequences. For that reason, it’s vital to focus on accurate and timely payments.

payroll team get um so I’m unsure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it ‘d be terrific to hear your success story and whether that’s been from all workers or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it’s just a tick box workout 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 stuff is absolutely essential that all of this things is done correctly so leveraging the very first International Payments first payroll payment service is an excellent first step um offering an end-to-end payroll service for your staff members globally once again I believe is another huge um process again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely essential to success success of organizations and minimizing the number of tools platforms and savings account they require for their Global 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 thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone rather where they’re implied to be um I don’t think any of us are actually doing that for for the thanks

anyhow we know 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 everyone that’s associated with those processes and likewise so imagine sorry I’m just I was simply gon na state think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we’re speaking about hundreds of thousands potentially Millions picture getting that many thank you notes um I suggest it ‘d be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting to clean up all those up for sure oh absolutely 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 browse them and in fact see what was going on and kind of shot to return to everybody so carrying on appearance why do business pick to primary separate savings account there are Rd Tax Credit Can Offset Payroll Taxes Papaya Global businesses out there doing precisely this for particular nations and I have actually worked in a business or lots of companies doing precisely that I can state 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 anybody where we don’t have to and anybody that’s handling 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 quantity that we are I think numerous reasons one is it’s the requirement I believe individuals have actually got so utilized to we require a new bank account we open an entity and rightly 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 standard the people have 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 procedure that needs looking at it requires altering but ultimately people are extremely stuck to what they recognize

with best um modification is a challenging thing we all do not like modification um so I think it’s just kind of moving far from the norm as we’ve said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having keeping several checking account but there’s a huge quantity of intricacy chooses establishing a checking account preserving it ensuring it can send International transfers guaranteeing it’s established with the ideal user accesses for private people so the intricacy is big but I believe the honest answer is change um individuals haven’t been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you’ve hit the nail on the head I think it is knowledge you know and there is a component of resistance to change but we’ve always 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 nearly be identified to be the next Century or so there is a lot to monitor and this method does position a number of challenges um so Johnny might you tell us about those difficulties yeah naturally so there’s a variety right there is so

I just did you changed our Business 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 Global workers you should have a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you Rd Tax Credit Can Offset Payroll Taxes Papaya Global