Papaya Global Inc. 2024 – Get Started

Managing payroll globally is a daunting job … Papaya Global Inc….

How much revenue does the company make? Papaya Global Inc.

Over the last 5 or 6 years …Papaya Global Inc…. functions on the service provider side and also on the supplier 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 just give everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we’ll sort of let them do that so it ‘d be rather interesting and I can see it going on already simply to hear where everyone is um it’s nice to to sort of like see where everybody originates from and I really do hope it’s much sunnier than it is 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 extremely extremely uninspiring and I wish I was somewhere else at this moment in time fine so let’s get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies preserve separate

savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya International payroll payments as a strategic property uh we’ll likewise review a recap and that must leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more typical and managing them becomes increasingly more intricate Worldwide organizations are looking to find Solutions and new ways to streamline procedures particularly from a payroll and cross-border payment standpoint numerous organizations preserve different checking account just for payroll while some have multiple accounts in various nations does it make good sense for companies to keep separate savings account in some cases in various countries it does but just for payroll exists a much better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business streamline the episode complex procedures of

making payroll payments precisely effectively securely and on time throughout this webinar we’ll stroll you through the global pros and cons of a payroll wallet versus a payroll bank account how business properly anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in enough in one country however when you’re doing it globally it’s next level and Beyond it ends up being complicated for a range of reasons most significantly policies compliance data security and banking guidelines then there are the large numbers they include further intricacy the worldwide Workforce is presently 3 and a half billion individuals by 2030 it’s estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the traditional payroll model there’s frequently a frustrating number of different systems causing time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or really really fundamental there’s no real consistency structure we’re residing in an era of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind whenever I I believe

about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that’s another number that provides me sleepless nights and quite honestly the more a service spends on international payroll the less of a photo they see an absence of visibility also reaches payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide organizations have actually revealed that they don’t have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes inadequately interacted hires and terminations along with lack management and system configurations and then when you round everything off and the data is shipped to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don’t run smoothly if they rely on the required several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they’re making payments to employees or otherwise that’s a great question I always toss this back and say what is it what doesn’t need to be included right and what does

it need to be thought about there’s differing 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 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 building a knowledge base is definitely critical however everywhere you look with payroll payment they are like super payments no if but 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 think there’s now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to type of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and financing groups work more detailed together than ever um I’m constantly surprised when people state I have actually split payroll and payment um if you stroll down the street and asked anyone 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 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 data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the

The modern-day world positions a high worth on well-being and the settlement landscape is ending up being significantly intricate. Organizations are continuously presenting new advantages and payment options, which adds to the overall complexity. Big corporations often divide their payroll and payment processing into separate groups, which can lead to inefficiencies and bottlenecks. In my viewpoint, this doesn’t have to hold true. In today’s technically advanced period, there’s no reason for keeping troublesome treatments. Payroll, the business’s most significant expenditure, must be processed correctly and on time. Even small delays can adversely impact workers’ well-being and have significant consequences. For that reason, it’s crucial to prioritize accurate and prompt payments.

The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it’s from all workers or not. Payroll is an important cycle, and individuals just notice when things fail. 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 important to make sure that jobs like Wi-Fi Global and other vital matters are done correctly. Using the very first International Payments very first payroll payment service is a terrific initial action towards providing a detailed payroll solution for staff members worldwide. Standardization, global processes, and decreasing the number of tools, platforms, and bank accounts necessary for international payroll are essential consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things don’t go as planned. Ultimately, we don’t do it for the gratitude.

anyway we understand how how important 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 easy as possible for everyone that’s associated with those processes and also so think of sorry I’m simply I was just gon na state picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we’re talking about numerous thousands possibly Millions think of 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 definitely be an interesting task attempting to clean up all those up for sure oh absolutely 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 browse them and really see what was going on and kind of shot to get back to everyone so proceeding look why do business select to primary separate savings account there are Papaya Global Inc. companies out there doing exactly this for particular nations and I have actually operated in an organization or numerous businesses doing exactly that I can state it does not constantly feel efficient and it does produce more work I understand we’re not intentionally doing that we’re not developing additional work for any person where we do not need to and any person that’s managing that procedure I ‘d be interested to hear your thoughts Johnny why do you believe that we’re doing that in in the in the quantity that we are I believe numerous factors one is it’s the requirement I believe individuals have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it’s not a requirement so I believe it’s simply been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I believe there’s a variety I think this is a process that requires taking a look at it requires changing however ultimately people are very stuck with what they recognize

with right um modification is a tough thing all of us do not 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 lot of track of things um I understand undoubtedly the benefits of having maintaining numerous savings account but there’s a huge amount of intricacy chooses establishing a savings account preserving it ensuring it can send International transfers ensuring it’s set up with the best user accesses for specific individuals so the complexity is substantial but I believe the honest answer is change um people haven’t been able to alter or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a bank account I believe you’ve hit the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might almost be identified to be the next Century or two there is a lot to track and this method does position several difficulties um so Johnny could you tell us about those challenges yeah of course so there’s a variety right there is so

I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this improved capability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your accomplishments. Papaya Global Inc.

I find time and time again the workers often misclassified unconsciously they don’t understand the conditions of work or agreement and are told by the customer why it’s optimum primarily to the customer why you ought to be utilized or participated in this style the worker might owe taxes and Social Security to the authorities the future pension and health care advantages of the worker can be affected and several times it can be years before this all falls out and by that time it’s too late years have passed they have not contributed to pensions And so on so it’s a huge effect that they never ever knew they were walking into you couldn’t agree with you more if you say the UK for example hmrc can go back as much as ten years um Kathy companies are securing insurance coverage versus misclassification but usually premiums are just covering the expense of legal fees whilst the average claim evaluated against employers relates to to 40 or half of the base pay of worker is there any point in taking out insurance and what is the alternative yeah to your point um you do need to check out the small print it is not covering the taxes charge and interest in many cases I have not seen it a minimum of so uh the the other location that I do believe if you managed to get the protection what we are stating is is that if your compliance program is not up to pack you could be denied protection on the basis of the reality that you were not in compliance with laws um in the UK

Papaya Global Inc 2024 – Get Started

Handling payroll globally is a complicated job … Papaya Global Inc…

How much revenue does the company make? Papaya Global Inc

Over the last five or six years …Papaya Global Inc… roles on the provider side and also on the vendor side from a payroll perspective so truly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we’ll just provide everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we’ll sort of let them do that so it ‘d be rather intriguing and I can see it going on already simply to hear where everyone is um it’s nice to to sort of like see where everybody originates from and I actually do hope it’s much sunnier than it is 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 extremely extremely bleak and I want I was elsewhere at this moment in time all right so let’s get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies preserve separate

checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya International payroll payments as a strategic possession uh we’ll likewise go over a wrap-up which needs to leave his time at the really really 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 Worldwide labor forces end up being more and more typical and managing them ends up being more and more complicated Worldwide companies are wanting to find Solutions and brand-new ways to improve processes specifically from a payroll and cross-border payment perspective numerous companies preserve different savings account just for payroll while some have numerous accounts in various countries does it make sense for companies to keep different checking account sometimes in different nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international companies simplify the episode complex processes of

making payroll payments precisely efficiently securely and on time during this webinar we’ll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in enough in one nation but when you’re doing it globally it’s next level and Beyond it becomes intricate for a variety of reasons most notably regulations compliance information security and banking guidelines then there are the sheer numbers they add more intricacy 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 more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the conventional payroll design there’s often an overwhelming number of different systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely extremely basic there’s no genuine consistency framework we’re living in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind whenever I I think

about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that’s another number that gives me sleepless nights and rather frankly the more a company invests in international payroll the less of a picture they see an absence of visibility also reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide companies have actually expressed that they don’t have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors inadequately communicated hires and terminations as well as lack management and system configurations and then when you round it all off and the information is shipped to the wrong place the average expense of a global data 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 rely on the required several procedures 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 organization face when they’re making payments to workers or otherwise that’s a great question I always throw this back and say what is it what doesn’t require to be included right and what does

it require to be considered there’s varying Bank details so the length of an eye band a swift an account number routing code per country there’s payment timespan there’s payment 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 anywhere you look right ultimately building a knowledge base is definitely vital but everywhere you look with payroll payment they resemble super payments no if but some children 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 acknowledgment that payroll payments are absolutely basic and technology is enabling us to kind of move on with that it also too to add to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely vital that payroll and financing teams work more detailed together than ever um I’m constantly impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn’t operate in the payroll profession 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 often 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 people any place they are however also paying statutory authorities and on statutory 3rd parties so with the

The modern-day world places a high worth on wellness and the settlement landscape is becoming increasingly complex. Services are constantly introducing brand-new benefits and payment options, which adds to the general intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can result in ineffectiveness and bottlenecks. In my opinion, this doesn’t need to be the case. In today’s technically sophisticated period, there’s no justification for preserving troublesome procedures. Payroll, the company’s greatest cost, must be processed correctly and on time. Even small delays can adversely impact employees’ well-being and have significant repercussions. For that reason, it’s vital to prioritize accurate and prompt payments.

The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it’s from all staff members or not. Payroll is an essential cycle, and individuals only notice when things fail. Nevertheless, when things go right, it’s seen as just a regular task. This is how it’s viewed externally too. For that reason, it is necessary to guarantee that jobs like Wi-Fi International and other essential matters are done properly. Utilizing the first Global Payments very first payroll payment service is a fantastic initial action towards providing a detailed payroll service for workers worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and checking account needed for worldwide payroll are essential consider accomplishing business success. While we don’t anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things do not go as planned. Ultimately, we don’t do it for the thankfulness.

anyhow 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 everybody that’s involved in those procedures and likewise so envision sorry I’m just I was simply gon na state picture 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 discussing numerous thousands possibly Millions imagine getting that numerous thank you notes um I imply it ‘d be interesting to see how many Post-it notes you got but it would certainly be an intriguing task attempting to clean 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 really see what was going on and type of shot to get back to everybody so moving on look why do business select to main different checking account there are Papaya Global Inc companies out there doing precisely this for specific countries and I’ve operated in a service or many companies doing exactly that I can state it doesn’t always feel efficient and it does create more work I understand we’re not purposely doing that we’re not developing additional work for any person where we don’t need to and anybody that’s dealing with 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 quantity that we are I believe lots of factors one is it’s the standard I think people have got so utilized to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it’s not a requirement so I think it’s simply been the requirement and the norm individuals have embraced and continue to do over years and years gone past to add to that individuals have actually 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 variety I believe this is a procedure that requires looking at it needs changing however eventually individuals are very stuck to what they’re familiar

with ideal um change is a challenging thing all of us don’t like change um so I think it’s just kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having keeping numerous savings account however there’s a big quantity of intricacy goes with setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it’s set up with the right user accesses for private people so the complexity is big however I believe the honest response is change um people haven’t had the ability to change or haven’t had always the knowledge to truly 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 know and there is an element of resistance to alter but we’ve always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be determined to be the next Century or two there is a lot to keep track of and this method does pose numerous difficulties um so Johnny could you inform us about those challenges yeah of course 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’s like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you deserve a corner office with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you Papaya Global Inc

I discover time and time again the workers often misclassified unconsciously they do not comprehend the conditions of work or agreement and are informed by the client why it’s most advantageous mainly to the client why you ought to be utilized or taken part in this fashion the worker may owe taxes and Social Security to the authorities the future pension and healthcare benefits of the worker can be impacted and numerous times it can be years before this all falls out and by that time it’s too late years have passed they haven’t added to pensions Etc so it’s a big impact that they never ever knew they were strolling into you could not agree with you more if you state the UK for example hmrc can go back as much as 10 years um Kathy companies are getting insurance coverage against misclassification but generally premiums are only covering the expense of legal charges whilst the average claim evaluated versus employers corresponds to to 40 or 50 percent of the base pay of worker exists any point in getting insurance coverage and what is the alternative yeah to your point um you do need to read the fine print it is not covering the taxes charge and interest for the most part I haven’t seen it a minimum of so uh the the other location that I do believe if you managed to get the coverage what we are saying is is that if your compliance program is not up to stuff you could be rejected coverage on the basis of the truth that you were not in compliance with laws um in the UK