Over the last 5 or 6 years …Papaya Global (Hk) Limited… roles on the provider side and also on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we’ll simply provide everyone another number of uh well among the 30 seconds or two to join we all work back to back these days so we’ll type of let them do that so it ‘d be quite intriguing and I can see it going on currently just to hear where everybody 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 certainly not the peak of the sunshine is it it’s not no it’s it’s drizzling here it’s very very dreary and I want I was elsewhere at this moment in time alright so let’s begin our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies preserve separate

Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is especially useful for international organizations with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.

making payroll payments accurately effectively firmly and on time throughout this webinar we’ll walk you through the international pros and cons of a payroll wallet versus a payroll checking account how business accurately forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one nation however when you’re doing it globally it’s next level and Beyond it becomes intricate for a range of factors most importantly policies compliance data security and banking guidelines then there are the sheer numbers they include additional complexity the global Labor force is currently 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 currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing all over the world in the traditional payroll design there’s often a frustrating number of various systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in large quantities and or really really basic there’s no real consistency framework we’re living in an era of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind every time I I think

about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that’s another number that gives me sleep deprived nights and quite honestly the more a service spends on worldwide payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of international organizations have revealed 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 bad HCM information information entry errors badly communicated hires and terminations as well as absence management and system setups and after that when you round it all off and the information is shipped to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they depend on the needed several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties business face when they’re making payments to workers or otherwise that’s a good question I always throw this back and say what is it what doesn’t require to be included best and what does

it need to be thought about there’s varying Bank details so the length of an eye band a swift an account number routing code per nation there’s payment amount of time there’s payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the client’s own in-country account so there’s complexity wherever you look ideal ultimately constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it’s closer than ever I believe there’s now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to type of move on with that it also also to add to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is absolutely crucial that payroll and financing teams work more detailed together than ever um I’m always astonished when individuals state I’ve divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from calculation 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 procedure it’s the point of information collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the

world we live in and well-being being increasingly more important to add to kind of the level of complexity there’s a growing number of advantages being organ or being provided by businesses across the world so once again you’re just looking to include more and more payments to this currently complex landscape so if you type of got any experience well I’m from your huge experience here and I make certain but have you got any experience in kind of genuine challenges or genuine difficult type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding info into the next function as it were that’s actually managing the payment side of things but you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they do not make them what they need to be in in a period of tech and a period that you understand that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and rightly as you said payroll is the single biggest liability that any business has from an expense viewpoint from an impact perspective on employees it is absolutely important that it’s done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging result on individuals’s well-being and lots of other elements if individuals aren’t paid uh I’ve always been amazed entering this Market sort of the last five to 10 years is how little thanks the

payroll team get um so I’m not sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it ‘d be fantastic 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 find out about it when it goes wrong everybody 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 deem 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 International Payments first payroll payment service is a great initial step um providing an end-to-end payroll service for your employees globally once again I believe is another big um process again lining up and guaranteeing you have standardization Worldwide procedures 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 terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless 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 complaints where things haven’t gone quite where they’re suggested to be um I do not think any of us are really doing that for for the thanks

anyway we know how how important 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 everyone that’s associated with those procedures and likewise so envision sorry I’m just I was just gon na state envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we’re discussing hundreds of thousands possibly Millions picture getting that numerous thank you notes um I imply it ‘d be interesting to see how many Post-it notes you got however it would definitely be an intriguing task attempting to clean all those up for sure oh definitely I can’t picture the size of my my Outlook inbox if that held true um you ‘d require days of the week to try to look through them and actually see what was going on and type of shot to get back to everyone so carrying on look why do business select to main different savings account there are Papaya Global (Hk) Limited services out there doing exactly this for specific nations and I have actually worked in an organization or many organizations doing precisely that I can state it doesn’t constantly feel effective and it does develop more work I understand we’re not intentionally doing that we’re not creating additional work for any person where we don’t have to and any person that’s managing that process I ‘d be interested to hear your thoughts Johnny why do you think that we’re doing that in in the in the quantity that we are I think many factors one is it’s the requirement I believe individuals have actually got so used to we require a new bank 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 standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there’s a range I think this is a procedure that requires taking a look at it requires changing but eventually individuals are extremely stuck to what they’re familiar

with best um change is a difficult thing we all do not like change um so I believe it’s just sort of moving away from the norm as we’ve said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having maintaining several savings account but there’s a big quantity of intricacy goes with establishing a savings account maintaining it ensuring it can send International transfers guaranteeing it’s established with the right user accesses for private people so the intricacy is substantial but I believe the truthful answer is modification um individuals haven’t been able to change or haven’t had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I think you’ve hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does posture a number of obstacles um so Johnny might you inform us about those obstacles yeah of course so there’s a range right there is so

I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this improved capability, I have effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your achievements. Papaya Global (Hk) Limited

Over the last five or six years …Papaya Global Hk Limited… roles on the service provider side and likewise on the vendor side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we’ll simply offer everybody another number of uh well among the 30 seconds or so to join all of us work back to back nowadays 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 everyone is um it’s nice to to type of like see where everybody originates 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 extremely extremely gloomy and I wish I was elsewhere at this moment in time fine so let’s start our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies keep different

Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate checking account for payroll in different countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.

Ensuring accurate, effective, and prompt payroll payments is a complex obstacle for companies operating worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, discover how business anticipate payroll expenses to optimize working capital, and discover how simplifying international payroll payments can change them from a troublesome task into a strategic asset.

Managing payroll worldwide is a daunting task due to numerous policies, compliance requirements, data security issues, and banking rules. The large number of workers and services adds to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million companies worldwide.

Traditional payroll systems frequently result in manual procedures, data silos, and a lack of combination, leading to disparities and inefficiencies. Regardless of residing in an era of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to offer insights and services to streamline 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 quite honestly the more an organization invests in worldwide payroll the less of an image they see an absence of visibility also encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international services have revealed that they don’t 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 data entry mistakes improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the data is delivered to the wrong location the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments don’t run efficiently if they depend on the needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they’re making payments to employees or otherwise that’s an excellent question I constantly throw this back and state what is it what doesn’t need to be included best 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 time frames there’s payment abilities 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 complexity any place you look right eventually building a knowledge base is absolutely critical however everywhere you look with payroll payment they are like extremely payments no if however some babies 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 believe there’s now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to sort of move forward with that it also as well to contribute to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely important that payroll and financing teams work more detailed together than ever um I’m constantly surprised when individuals say I’ve divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn’t work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it’s payroll is an end-to-end procedure it’s the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the

The contemporary world places a high value on well-being and the compensation landscape is becoming increasingly intricate. Organizations are continuously introducing new benefits and payment choices, which adds to the general intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can result in inefficiencies and traffic jams. In my viewpoint, this does not need to be the case. In today’s highly advanced period, there’s no reason for preserving troublesome procedures. Payroll, the company’s biggest cost, must be processed correctly and on time. Even minor delays can negatively affect employees’ wellness and have far-reaching consequences. Therefore, it’s critical to focus on accurate and timely payments.

The payroll group 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 essential cycle, and individuals just see when things go wrong. However, when things go right, it’s viewed as simply a routine job. This is how it’s perceived externally too. For that reason, it is necessary to make sure that tasks like Wi-Fi International and other vital matters are done correctly. Using the first Global Payments first payroll payment solution is a great initial action towards offering an extensive payroll service for workers worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and bank accounts required for international payroll are essential factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don’t go as prepared. Ultimately, we don’t do it for the thankfulness.

anyhow we know how how essential 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 easy as possible for everybody that’s associated with those procedures and also so picture sorry I’m just I was just gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we’re talking about hundreds of thousands possibly Millions picture getting that lots of thank you notes um I mean it ‘d be interesting to see how many Post-it notes you got but it would certainly be an intriguing task trying to clean up all those up for sure oh definitely I can’t think of the size of my my Outlook inbox if that was the case um you ‘d need days of the week to try to check out them and actually see what was going on and sort of try to get back to everyone so moving on appearance why do business select to main separate savings account there are Papaya Global Hk Limited organizations out there doing exactly this for particular countries and I’ve operated in a business or lots of organizations 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 creating extra work for anybody where we do not have to and anybody that’s managing that process I ‘d be interested to hear your thoughts Johnny why do you think that we’re doing that in in the in the amount that we are I believe numerous factors one is it’s the requirement I believe people have actually got so utilized to we need a new checking account we open an entity and rightly 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 just been the standard and the norm the people have actually embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there’s a range I believe this is a process that requires looking at it needs altering but eventually people are really stuck to what they recognize

with ideal um modification is a difficult thing all of us do not like change um so I think it’s just kind of moving away from the norm as we’ve said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the benefits of having maintaining multiple bank accounts however there’s a substantial amount of complexity chooses setting up a savings account keeping it ensuring it can send out International transfers ensuring it’s established with the right user accesses for specific individuals so the complexity is huge but I believe the truthful response is modification um individuals haven’t been able to alter or have not had always the understanding to truly make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could almost be determined to be the next Century or two there is a lot to keep track of and this method does present several challenges um so Johnny could you inform us about those difficulties yeah of course so there’s a variety right there is so

I simply did you switched 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 International workers you are worthy of a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you Papaya Global Hk Limited