Papaya Global.Com FAQ – Payroll Management 2024

Over the last five or 6 years …Papaya Global.Com… functions on the service provider side and likewise on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we’ll simply provide everybody another couple of uh well one of 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 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 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 raining here it’s very very gloomy and I want I was elsewhere at this moment in time okay so let’s get started our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies 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 streamlining papaya Global payroll payments as a tactical possession uh we’ll likewise discuss a recap and that should leave his time at the really extremely 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 Global workforces end up being more and more typical and managing them becomes a growing number of complicated Global companies are looking to find Solutions and brand-new methods to improve procedures particularly from a payroll and cross-border payment perspective numerous organizations maintain different checking account just for payroll while some have multiple accounts in different nations does it make good sense for companies to maintain separate bank accounts often in various nations it does but just for payroll exists a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies improve the episode complex procedures of

Ensuring accurate, effective, and prompt payroll payments is a complex challenge for services running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to enhance working capital, and find how enhancing international payroll payments can transform them from a troublesome task into a tactical possession.

Managing payroll internationally is a daunting task due to numerous guidelines, compliance requirements, data security concerns, and banking guidelines. The large variety of workers and companies adds to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.

Standard payroll systems often result in manual procedures, information silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. In spite of residing in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to offer insights and options to streamline and enhance international payroll payments.

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 Workforce data in real time that’s another number that offers me sleepless nights and rather frankly the more a business spends on global payroll the less of a photo they see a lack of exposure also reaches payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal almost half of international businesses have actually expressed that they don’t have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry mistakes improperly communicated hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the data is shipped to the wrong place the average cost 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 around the world payroll and payments don’t run efficiently if they rely on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they’re paying to employees or otherwise that’s a good question I always toss this back and state what is it what doesn’t need to be included ideal and what does

it require to be thought of there’s differing Bank details 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 developing a knowledge base is absolutely vital but all over you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the 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 absolutely fundamental and technology is permitting us to type of progress with that it also too to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is absolutely vital that payroll and financing groups work more detailed together than ever um I’m always astonished when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn’t work in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it’s payroll is an end-to-end process it’s the point of information collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the

world we reside in and wellness being increasingly more essential to contribute to type of the level of complexity there’s a growing number of benefits being organ or being provided by companies across the world so once again you’re just wanting to include a growing number of payments to this already complex landscape so if you type of got any experience well I’m from your large experience here and I make certain but have you got any experience in kind of real challenges or genuine tough kind of pay uses to play to pay people I think yeah I indicate over the last well yeah a number of years I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding details into the next function as it were that’s in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn’t always need to be the case you understand long gone are the times where we need to produce extra handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason that we are still making this as challenging as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any organization has from an expense perspective from an impact viewpoint on staff members it is definitely crucial that it’s done properly and on time so what we imply 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 damaging impact on individuals’s wellness and numerous other aspects if individuals aren’t paid uh I’ve always been amazed entering this Market kind of the last 5 to 10 years is how little thanks the

payroll group get um so I’m unsure anybody on this type of webinar has been told thank you for processing my payroll properly if you have it ‘d be terrific to hear your success story and whether that’s been from all employees or not um however ultimately payroll is such an essential cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it’s just a tick box workout and I think 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 absolutely crucial that all of this things is done correctly so leveraging the first International Payments very first payroll payment service is a fantastic initial step um providing an end-to-end payroll service for your employees worldwide again I believe is another substantial um process once again aligning and ensuring you have standardization International processes all of those things are absolutely crucial to success success of companies and decreasing the variety of tools platforms and savings account they need for their Worldwide 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 ever 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 complaints where things haven’t gone rather where they’re suggested to be um I don’t believe any of us are in fact doing that for for the thanks

anyway we understand how how crucial 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 think of sorry I’m simply I was just gon na say 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 discussing numerous thousands possibly Millions imagine getting that many thank you notes um I imply it ‘d be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying to clean up all those up for sure oh definitely I can’t imagine the size of my my Outlook inbox if that held true um you ‘d need 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 carrying on look why do business select to main different bank accounts there are Papaya Global.Com services out there doing exactly this for particular countries and I have actually operated in a business or lots of organizations doing exactly that I can say it doesn’t constantly feel effective and it does develop more work I understand we’re not deliberately doing that we’re not producing additional work for any person where we don’t have to and anyone 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 believe many factors one is it’s the standard I believe people have got so used to we need a brand-new savings account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it’s not a requirement so I believe it’s just been the requirement and the standard individuals have adopted and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there’s a range I believe this is a procedure that needs looking at it requires altering however ultimately individuals are really stuck with what they recognize

with right um change is a challenging thing all of us don’t like change um so I believe it’s just kind of moving away from the standard as we’ve said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having maintaining several bank accounts but there’s a substantial amount of complexity goes with establishing a checking account preserving it ensuring it can send International transfers ensuring it’s established with the ideal user accesses for specific individuals so the complexity is substantial but I believe the truthful answer is modification um individuals haven’t had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we’ve constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to monitor and this technique does present numerous difficulties um so Johnny might you tell us about those obstacles yeah obviously so there’s a variety right there is so

I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you are worthy of a corner office with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you Papaya Global.Com

Papaya Global Com FAQ – Payroll Management 2024

Over the last 5 or 6 years …Papaya Global Com… functions 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 very much for your time everybody all right thanks Johnny uh we’ll just give everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays 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 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 remains 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 extremely very bleak and I want I was somewhere else at this moment in time alright so let’s begin our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies preserve different

checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we’ll also review a wrap-up and that should leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more common and handling them becomes more and more complicated International companies are wanting to discover Solutions and brand-new methods to simplify processes specifically from a payroll and cross-border payment viewpoint lots of companies maintain separate bank account just for payroll while some have several accounts in different nations does it make good sense for business to keep different bank accounts in some cases in various nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies improve the episode complex processes of

Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for services operating globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll costs to enhance working capital, and discover how enhancing global payroll payments can transform them from a difficult task into a tactical possession.

Managing payroll internationally is a challenging job due to different policies, compliance requirements, information security issues, and banking rules. The large number of employees and organizations adds to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million companies worldwide.

Standard payroll systems often result in manual processes, information silos, and a lack of combination, causing inconsistencies and ineffectiveness. In spite of living in a period of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to provide insights and solutions to streamline and optimize worldwide payroll payments.

about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that’s another number that offers me sleep deprived nights and quite frankly the more a business spends on worldwide payroll the less of a picture they see a lack of exposure also encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of international organizations have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors poorly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the information is shipped to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don’t run efficiently if they depend on the required numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties service face when they’re making payments to employees or otherwise that’s a good question I always throw this back and say what is it what does not 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 nation there’s payment amount of time there’s payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client’s own in-country account so there’s intricacy wherever you look ideal ultimately building a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it’s closer than ever I think there’s now a bit more recognition that payroll payments are absolutely essential and innovation is enabling us to sort of move forward with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely essential that payroll and financing groups work better together than ever um I’m constantly surprised when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation 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 eventually 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 however likewise paying statutory authorities and on statutory third parties so with the

world we reside in and well-being being increasingly more important to contribute to type of the level of intricacy there’s more and more advantages being organ or being used by organizations throughout the world so once again you’re just wanting to include more and more payments to this already complicated landscape so if you sort of got any experience well I’m from your vast experience here and I make sure however have you got any experience in kind of real obstacles or genuine challenging sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of years I would definitely state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding info into the next function as it were that’s really managing the payment side of things however you know in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to produce additional handoffs while doing sos that we operate in they simply make them more prompt 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 we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any company has from an expense point of view from an impact perspective on workers it is definitely vital 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 harmful result on people’s wellness and many other factors if people aren’t paid uh I’ve always been astonished coming into this Market type of the last 5 to ten years is how little thanks the

The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it’s from all staff members or not. Payroll is an essential cycle, and individuals just observe when things fail. Nevertheless, when things go right, it’s seen as just a regular task. This is how it’s perceived externally as well. For that reason, it is necessary to make sure that tasks like Wi-Fi Worldwide and other essential matters are done properly. Utilizing the first Global Payments first payroll payment option is a fantastic preliminary action towards supplying a thorough payroll option for staff members worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and checking account necessary for worldwide payroll are essential consider accomplishing service success. While we don’t expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things do not go as prepared. Eventually, we don’t do it for the appreciation.

anyhow we understand how how important 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 easy as possible for everyone that’s involved in those processes and likewise so imagine sorry I’m just I was simply gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we’re discussing numerous thousands possibly Millions picture getting that many thank you notes um I suggest it ‘d be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task 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 held true um you ‘d need days of the week to attempt to look through them and in fact see what was going on and type of try to get back to everyone so proceeding appearance why do companies select to main separate checking account there are Papaya Global Com companies out there doing exactly this for specific countries and I’ve operated in a business or many services doing exactly that I can say it does not always feel efficient and it does produce more work I know we’re not deliberately doing that we’re not developing additional work for any person where we don’t have to and anybody that’s managing that process I ‘d be interested to hear your thoughts Johnny why do you believe that we’re doing that in in the in the amount that we are I think numerous reasons 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 but there are a number of markets where it’s not a requirement so I believe it’s just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other ways um to to type of do it so I believe there’s a variety I think this is a process that needs looking at it requires altering however eventually individuals are very stuck with what they recognize

with best um modification is a challenging thing all of us don’t like modification um so I think it’s just kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having keeping multiple bank accounts but there’s a substantial quantity of complexity chooses setting up a savings account preserving it guaranteeing it can send International transfers ensuring it’s set up with the best user accesses for specific people so the intricacy is huge but I think the honest response is modification um individuals haven’t had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to change but we’ve always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be identified to be the next Century or so there is a lot to keep track of and this technique does position a number of challenges um so Johnny might you tell us about those difficulties yeah obviously 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 actually acquired another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments. Papaya Global Com

Papaya Global. Com FAQ – Payroll Management 2024

Over the last 5 or six years …Papaya Global. Com… roles on the supplier side and also on the supplier side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we’ll just give everyone another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we’ll type of let them do that so it ‘d be rather intriguing 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 everyone 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 drizzling here it’s very very bleak and I want I was elsewhere at this moment in time all right 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 business keep separate

Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially beneficial for international companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.

Ensuring precise, effective, and prompt payroll payments is a complex difficulty for companies running worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to optimize working capital, and find how simplifying worldwide payroll payments can transform them from a troublesome job into a strategic asset.

Managing payroll internationally is a complicated job due to numerous guidelines, compliance requirements, data security concerns, and banking rules. The sheer variety of employees and services adds to the intricacy, with an estimated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.

Traditional payroll systems often lead to manual procedures, data silos, and an absence of integration, leading to inconsistencies and inadequacies. In spite of living in a period of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to supply insights and services to simplify and optimize international payroll payments.

about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that’s another number that provides me sleep deprived nights and quite frankly the more a company invests in worldwide payroll the less of a picture they see an absence of presence also reaches payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they don’t have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors badly interacted hires and terminations along with absence management and system configurations and after that when you round it all off and the data is delivered to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don’t run smoothly if they rely on the necessary multiple 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 difficulties organization face when they’re making payments to employees or otherwise that’s a great question I always toss this back and state what is it what doesn’t need to be included right and what does

it need to be considered there’s varying Bank details so the length of an eye band a swift an account number routing code per nation there’s payment timespan there’s payment 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 customer’s own in-country account so there’s intricacy anywhere you look ideal ultimately building a knowledge base is definitely critical however everywhere 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 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 definitely fundamental and technology is permitting us to kind of move on with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is definitely crucial that payroll and finance teams work more detailed together than ever um I’m always surprised when individuals state I have actually 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 estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it’s payroll is an end-to-end procedure it’s the point of data 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 places a high worth on wellness and the settlement landscape is ending up being significantly detailed. Services are constantly introducing new benefits and payment options, which contributes to the general intricacy. Large corporations typically divide their payroll and payment processing into separate groups, which can result in inadequacies and traffic jams. In my opinion, this doesn’t have to hold true. In today’s technically sophisticated age, there’s no reason for preserving cumbersome procedures. Payroll, the company’s greatest expense, need to be processed properly and on time. Even minor delays can negatively impact workers’ well-being and have significant consequences. Therefore, it’s critical to prioritize accurate and prompt payments.

The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it’s from all workers or not. Payroll is an essential cycle, and people just see when things go wrong. Nevertheless, when things go right, it’s seen as just a routine task. This is how it’s perceived externally also. Therefore, it is necessary to make sure that jobs like Wi-Fi Worldwide and other important matters are done properly. Utilizing the very first International Payments first payroll payment option is a fantastic initial step towards providing a detailed payroll service for employees worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and bank accounts essential for global payroll are essential factors in attaining company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things don’t go as prepared. Ultimately, we don’t do it for the thankfulness.

anyway we know how how crucial a role it is which’s why we do it that’s why we get on with it and this is why we’re talking today about making it as easy as possible for everyone that’s associated with those procedures and also so think of sorry I’m simply I was simply gon na say envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we’re speaking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I mean it ‘d be interesting to see how many Post-it notes you got however it would definitely be a fascinating task attempting to clean all those up for sure oh definitely I can’t imagine the size of my my Outlook inbox if that was the case um you ‘d need days of the week to attempt to browse them and really see what was going on and sort of shot to return to everybody so carrying on appearance why do companies choose to primary separate checking account there are Papaya Global. Com businesses out there doing exactly this for specific countries and I’ve operated in an organization or many businesses doing exactly that I can say it doesn’t constantly feel efficient and it does create more work I know we’re not intentionally doing that we’re not producing additional work for anyone where we don’t have to and any person that’s handling 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 lots of reasons one is it’s the standard I believe people have got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it’s not a requirement so I believe it’s just been the standard and the norm the people have adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there’s a range I believe this is a process that requires taking a look at it needs altering but ultimately individuals are really stuck with what they’re familiar

with best um modification is a tough thing all of us don’t like change um so I think it’s simply type of moving away from the standard as we’ve said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having preserving multiple bank accounts however there’s a huge quantity of complexity chooses setting up a bank account maintaining it guaranteeing it can send International transfers guaranteeing it’s established with the right user accesses for individual people so the intricacy is big but I think the sincere answer is modification um people have not been able to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I think it is knowledge you know and there is an element of resistance to change but we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century approximately there is a lot to monitor and this approach does position a number of difficulties um so Johnny could you inform us about those difficulties yeah naturally so there’s a range right there is so

I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it’s like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you are worthy of a corner workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you Papaya Global. Com