Corpay Papaya Global Connect Remittance Login FAQ – Payroll Management 2024

Over the last five or six years …Corpay Papaya Global Connect Remittance Login… functions on the service provider side and likewise on the supplier side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we’ll just give everybody 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 quite fascinating and I can see it going on currently 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 sunshine is it it’s not no it’s it’s drizzling here it’s very really bleak and I want I was somewhere else 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 obstacle years of handling Global payroll why business keep separate

savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we’ll also review a wrap-up which ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more common and handling them ends up being a growing number of complicated Worldwide organizations are looking to discover Solutions and new methods to streamline processes specifically from a payroll and cross-border payment perspective lots of companies preserve separate checking account just for payroll while some have multiple accounts in various countries does it make good sense for business to keep separate savings account often in various nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business improve the episode complex procedures of

making payroll payments properly efficiently firmly and on time during this webinar we’ll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in adequate in one country however when you’re doing it worldwide it’s next level and Beyond it ends up being intricate for a range of reasons most significantly policies compliance information security and banking rules then there are the sheer numbers they add more complexity the international Workforce is presently 3 and a half billion individuals by 2030 it’s estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the standard payroll design there’s often a frustrating variety of different systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or really extremely standard there’s no genuine consistency framework we’re living in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind each time I I believe

about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that’s another number that gives me sleep deprived nights and quite honestly the more a business invests in international payroll the less of a picture they see a lack of presence likewise reaches payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal almost half of global businesses have revealed that they do not 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 errors badly interacted hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the incorrect place the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don’t run efficiently if they count 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 requires to be factored into the obstacles service face when they’re making payments to employees or otherwise that’s a good question I constantly throw this back and state what is it what doesn’t require to be included best and what does

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it need to be thought about there’s varying Bank information 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 consumer’s own in-country account so there’s complexity wherever you look best ultimately constructing a knowledge base is absolutely critical however all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it’s closer than ever I think there’s now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to sort of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely important that payroll and finance groups work better together than ever um I’m always surprised when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it’s payroll is an end-to-end process it’s the point of data 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 live in and wellness being a growing number of essential to add to type of the level of intricacy there’s a growing number of advantages being organ or being provided by services throughout the world so once again you’re just seeking to add a growing number of payments to this currently complicated landscape so if you kind 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 obstacles or real challenging type of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a number of decades I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding info into the next function as it were that’s in fact managing the payment side of things but you understand in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we need to produce extra handoffs in the processes that we run in they simply make them more timely they make them less efficient 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 why we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single greatest liability that any organization has from an expense point of view from an effect viewpoint on workers it is absolutely important that it’s done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging impact on individuals’s wellness and numerous other aspects if individuals aren’t paid uh I have actually constantly been surprised entering into this Market kind of the last five to ten years is how little thanks the

payroll group get um so I’m not sure anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it ‘d be fantastic to hear your success story and whether that’s been from all workers or not um however eventually payroll is such a crucial cycle we all become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it’s simply a tick box workout and I believe that’s how it’s seen from the external consider as well um so yeah it’s also like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done properly so leveraging the first International Payments first payroll payment solution is a great initial step um offering an end-to-end payroll option for your workers globally once again I believe is another substantial um procedure again lining up and ensuring you have standardization International procedures all of those things are absolutely key to success success of businesses and minimizing the number of tools platforms and bank accounts they require for their Worldwide payroll too couldn’t agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don’t expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven’t gone rather where they’re indicated to be um I don’t believe any of us are actually doing that for for the thanks

anyhow we know 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 also so picture sorry I’m simply I was simply gon na say imagine 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 hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I imply it ‘d be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task trying 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 try to look through them and really see what was going on and kind of try to return to everyone so proceeding look why do companies choose to main separate savings account there are Corpay Papaya Global Connect Remittance Login businesses out there doing precisely this for specific countries and I have actually worked in an organization or lots of services doing exactly that I can say it doesn’t constantly feel efficient and it does produce more work I know we’re not intentionally doing that we’re not producing extra work for anyone where we do not have to and any person that’s managing that procedure I ‘d be interested to hear your ideas Johnny why do you believe that we’re doing that in in the in the quantity that we are I think numerous reasons one is it’s the requirement I believe people have actually got so used to we require a brand-new checking account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it’s not a requirement so I believe it’s just been the requirement and the norm the people have actually adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there’s a variety I think this is a procedure that requires looking at it requires changing however eventually people are very stuck to what they recognize

with ideal um modification is a difficult thing we all do not like change um so I believe it’s simply kind of moving far from the norm as we’ve said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping multiple checking account but there’s a substantial quantity of intricacy goes with setting up a checking 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 think the truthful response is change um individuals haven’t had the ability to change or haven’t had always the understanding to actually make that change into alternate Solutions aside from opening a bank account I think you’ve hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what might nearly be determined to be the next Century or so there is a lot to monitor and this method does position a number of difficulties um so Johnny could you inform us about those obstacles yeah naturally so there’s a variety right there is so

I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your achievements. Corpay Papaya Global Connect Remittance Login