Papaya Global Canada 2024 – Get Started

by

Managing payroll globally is a difficult job … Papaya Global Canada…

openly announced and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly revealed settlements there’s also substantial legal costs there’s there’s other penalties there’s other costs behind that as well so the overall expense can be very considerable in the 10s of countless dollars or more and and those quantities are growing uh the reason why companies are getting it so incorrect is actually just the rules are complicated and they’re changing all the time think ir-35 in the UK which has been a continuous development for a number of years now and and still a great deal of unpredictability amongst business on what it really indicates and how you deal with it most companies are simply not knowledgeable about the guidelines and and act as if the the guidelines are the same all over which they’re not so so motivate you to to be very proactive as you’re engaging uh employees from a classification perspective alright thank you Stephen and returning to yourself Ray it’s not only the business that suffers in the long run what impacts can this have on the employee How To Move Papaya Global From One Computer To Another specifically when it comes to their own tax liabilities social security and benefits for instance jury and undoubtedly the employees the other side of the coin

How much revenue does the company make? Papaya Global Canada

Over the last five or six years …Papaya Global Canada… functions on the company side and also on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we’ll just give 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 sort of let them do that so it ‘d be rather interesting 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 comes from and I really do hope it’s much sunnier than it is 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 really very gloomy and I wish 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 difficulty years of handling Worldwide payroll why companies preserve different

checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical possession uh we’ll also review a wrap-up which needs to leave his time at the really extremely 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 International labor forces become a growing number of common and managing them becomes increasingly more intricate Global organizations are seeking to discover Solutions and new ways to improve processes specifically from a payroll and cross-border payment perspective lots of companies maintain separate bank account just for payroll while some have numerous accounts in different countries does it make sense for business to keep separate savings account in some cases in different nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational business simplify the episode complex procedures of

making payroll payments accurately efficiently securely and on time during this webinar we’ll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies properly forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical possession 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 complex for a range of reasons most notably regulations compliance data security and banking guidelines then there are the large numbers they add further intricacy the international Labor force is presently 3 and a half billion people by 2030 it’s approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 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 globe in the conventional payroll model there’s frequently an overwhelming number of different systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in large quantities and or extremely really fundamental there’s no genuine consistency structure we’re living in an era of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind each time I I believe

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 honestly the more a service spends on international payroll the less of a picture they see an absence of visibility also reaches payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global companies have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes badly communicated hires and terminations in addition to absence management and system setups and then when you round everything off and the information is delivered to the incorrect location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when 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 required numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties business face when they’re making payments to workers or otherwise that’s an excellent question I always throw this back and state what is it what does not need to be consisted of ideal and what does

it require to be thought of 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 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 any place you look right eventually developing a knowledge base is definitely crucial but all over you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it’s closer than ever I believe there’s now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is permitting us to kind of move on with that it likewise as well to add to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely important that payroll and financing teams work better together than ever um I’m always impressed when people state I’ve split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn’t operate in the payroll profession would they split the payroll payment from estimation 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 eventually it’s payroll is an end-to-end procedure it’s the point of data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the

The modern-day world places a high value on wellness and the payment landscape is becoming progressively intricate. Organizations are continually introducing new advantages and payment choices, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into different teams, which can lead to inefficiencies and bottlenecks. In my opinion, this doesn’t need to be the case. In today’s technically sophisticated era, there’s no validation for preserving cumbersome treatments. Payroll, the company’s biggest expenditure, should be processed properly and on time. Even small delays can adversely impact employees’ well-being and have significant repercussions. Therefore, it’s critical to focus on precise and prompt payments.

payroll team get um so I’m unsure anybody on this sort of webinar has been told thank you for processing my payroll properly if you have it ‘d be great to hear your success story and whether that’s been from all workers or not um but ultimately payroll is such an essential cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it’s simply a tick box workout and I think 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 essential that all of this things is done correctly so leveraging the first Global Payments very first payroll payment option is an excellent first step um offering an end-to-end payroll service for your workers globally again I believe is another huge um procedure once again aligning and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of companies and lowering the number of tools platforms and checking account they require 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 had a hundred thousand of them within a payroll cycle don’t anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven’t gone quite where they’re suggested to be um I do not believe any of us are really doing that for for the thanks

anyhow we know how how essential 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 simple as possible for everybody that’s associated with those processes and also so think of 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 speaking about hundreds of thousands possibly Millions imagine getting that many thank you notes um I indicate it ‘d be interesting to see how many Post-it notes you got however it would definitely be an intriguing job 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 attempt to browse them and really see what was going on and type of shot to return to everyone so proceeding appearance why do companies select to primary different checking account there are Papaya Global Canada businesses out there doing precisely this for particular nations and I’ve operated in a company or many organizations doing precisely that I can say it does not constantly feel efficient and it does develop more work I understand we’re not intentionally doing that we’re not developing extra work for anybody where we don’t need to and anybody that’s dealing with that procedure 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 think many reasons one is it’s the requirement I think individuals have actually got so used to we need 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 standard the people have embraced and continue to do over years and years gone past to add 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 think there’s a range I believe this is a process that needs taking a look at it needs altering however ultimately individuals are really stuck to what they recognize

with best um change is a challenging thing all of us do not like change um so I believe 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 stuff um I understand clearly the advantages of having maintaining several savings account however there’s a big quantity of intricacy opts for setting up a savings account keeping it guaranteeing it can send International transfers ensuring it’s established with the ideal user accesses for private people so the intricacy is huge however I think the truthful answer is change um people haven’t been able to alter or haven’t had always the knowledge to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter however we’ve always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century or two there is a lot to monitor and this approach does present a number of challenges um so Johnny could you tell us about those challenges yeah of course so there’s a range right there is so

I just recently made a modification to our Business 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 acquired another CFO, and with this improved ability, I have successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your accomplishments. Papaya Global Canada

I discover time and time again the workers often misclassified unwittingly they do not comprehend the conditions of employment or agreement and are informed by the client why it’s most advantageous primarily to the client why you must be utilized or participated in this fashion the worker may owe taxes and Social Security to the authorities the future pension and health care opportunities of the worker can be affected and a number of times it can be years before this all falls out and by that time it’s too late years have actually passed they haven’t added to pensions And so on so it’s a big effect that they never ever understood they were strolling into you couldn’t agree with you more if you state the UK for example hmrc can go back as much as ten years um Kathy companies are taking out insurance versus misclassification however typically premiums are just covering the cost of legal fees whilst the average claim evaluated versus companies relates to to 40 or half of the base pay of worker is there any point in taking out insurance coverage and what is the alternative yeah to your point um you do need to read the small print it is not covering the taxes penalty and interest in many cases I have not seen it at least 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 stuff 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 Canada 2024 – Get Started

by

Handling payroll worldwide is a complicated task … Papaya Global Canada…

publicly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly announced settlements there’s likewise substantial legal costs there’s there’s other charges there’s other costs behind that too so the overall expense can be really considerable in the tens of millions of dollars or more and and those amounts are growing uh the reason business are getting it so wrong is actually just the rules are complex and they’re altering all the time believe ir-35 in the UK which has been a continuous advancement for several years now and and still a lot of unpredictability among business on what it truly suggests and how you deal with it most employers are just not aware of the rules and and act as if the the guidelines are the same everywhere which they’re not so so encourage you to to be extremely proactive as you’re engaging uh workers from a classification point of view fine thank you Stephen and moving back to yourself Ray it’s not only the business that suffers in the long run what impacts can this have on the staff member Papaya Global Could Not Load File Or Assembly especially when it concerns their own tax liabilities social security and advantages for example jury and obviously the workers the other side of the coin

How much revenue does the company make? Papaya Global Canada

Over the last five or six years …Papaya Global Canada… roles on the service provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we’ll simply give everyone another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we’ll sort of let them do that so it ‘d be quite 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 truly 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 extremely very gloomy and I want I was somewhere else at this moment in time all right so let’s get started our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business preserve separate

Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is particularly useful for international companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping different bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.

making payroll payments properly effectively firmly and on time throughout this webinar we’ll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in adequate in one nation however when you’re doing it internationally it’s next level and Beyond it becomes complex for a variety of factors most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include further complexity the global Workforce is presently 3 and a half billion individuals by 2030 it’s approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the traditional payroll model there’s often an overwhelming number of different systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or very really fundamental there’s no real consistency framework we’re living in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind whenever I I think

about it to offer 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 sleepless nights and quite frankly the more a business invests in global payroll the less of a photo they see an absence of presence also extends to payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction almost half of global companies have actually expressed 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 poor HCM data information entry errors badly interacted hires and terminations in addition to lack management and system setups and after that when you round all of it off and the data is shipped to the incorrect location the average cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don’t run smoothly if they rely on the needed numerous processes 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 difficulties organization face when they’re making payments to workers or otherwise that’s a great question I always toss this back and state what is it what doesn’t require to be consisted of best 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 time frames there’s payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer’s own in-country account so there’s intricacy wherever you look best ultimately constructing a knowledge base is definitely crucial but 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 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 innovation is permitting us to type of move on with that it also also to add to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely vital that payroll and finance groups work closer together than ever um I’m constantly surprised when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn’t work in the payroll occupation would they divide the payroll payment from calculation 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 process it’s the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the

world we live in and well-being being a growing number of important to contribute to type of the level of complexity there’s more and more advantages being organ or being offered by companies throughout the world so again you’re just seeking to add a growing number of payments to this already complex landscape so if you kind 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 obstacles or genuine challenging kind of pay uses to play to pay people I believe yeah I imply over the last well yeah a number of years I would certainly say 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 job there are teams 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 necessarily require to be the case you know long gone are the times where we require to create extra handoffs while doing sos that we run 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 age of tech and an era that you know that we are working in today there is no reason we are still making this as challenging as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any business has from a cost perspective from an effect viewpoint on employees it is definitely vital that it’s done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest harmful impact on people’s wellness and numerous other factors if individuals aren’t paid uh I’ve constantly been amazed coming into this Market sort of the last five to 10 years is how little thanks the

The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it’s from all staff members or not. Payroll is a crucial cycle, and individuals just see when things fail. However, when things go right, it’s seen as just a regular job. This is how it’s viewed externally too. Therefore, it is important to ensure that jobs like Wi-Fi International and other important matters are done properly. Utilizing the very first Global Payments first payroll payment service is a fantastic initial action towards offering an extensive payroll solution for workers worldwide. Standardization, international procedures, and reducing the variety of tools, platforms, and checking account essential for worldwide payroll are key factors in achieving business success. While we don’t anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things don’t go as planned. Eventually, we don’t do it for the appreciation.

anyhow we know how how crucial 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 simple as possible for everyone that’s involved in those procedures and likewise so imagine sorry I’m simply I was simply gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I’m sure we’re talking about hundreds of thousands potentially Millions picture getting that many thank you notes um I mean it ‘d be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting to clean all those up for sure oh absolutely I can’t think of the size of my my Outlook inbox if that was the case um you ‘d need days of the week to try to check out them and really see what was going on and sort of try to get back to everyone so moving on look why do business select to primary different savings account there are Papaya Global Canada companies out there doing precisely this for particular countries and I’ve worked in a business or many organizations doing precisely that I can state it does not always feel efficient and it does produce more work I understand we’re not purposely doing that we’re not producing extra work for any person where we do not have to and anybody that’s managing that procedure I ‘d be interested to hear your ideas Johnny why do you believe that we’re doing that in in the in the amount that we are I think lots of factors one is it’s the standard I believe people have actually got so used to we need a brand-new checking account we open an entity and rightly 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 just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other ways um to to type of do it so I think there’s a range I believe this is a procedure that needs taking a look at it needs altering however ultimately people are extremely stuck with what they recognize

with best um modification is a tough thing we all do not like change um so I believe it’s just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having preserving numerous savings account but there’s a substantial quantity of intricacy opts for establishing a checking account maintaining it ensuring it can send out International transfers ensuring it’s set up with the best user accesses for private individuals so the intricacy is huge however I believe the honest response is modification um people have not been able to change or haven’t had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I believe it is understanding you know and there is a component of resistance to change however we’ve constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century or two there is a lot to track and this approach does present several difficulties um so Johnny could you tell us about those difficulties yeah naturally so there’s a variety right there is so

I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has gained another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your achievements. Papaya Global Canada

I find time and time again the employees frequently misclassified unconsciously they don’t comprehend the conditions of work or agreement and are informed by the customer why it’s optimum primarily to the client why you ought to be used or taken part in this fashion the worker might owe taxes and Social Security to the authorities the future pension and health care advantages of the employee 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 actually gone by they have not contributed to pensions And so on so it’s a huge effect that they never ever understood they were strolling into you couldn’t agree with you more if you say the UK for example hmrc can go back as much as 10 years um Kathy companies are securing insurance coverage against misclassification but normally premiums are only covering the expense of legal charges whilst the typical claim examined against companies relates to to 40 or half of the base salary of employee exists any point in taking out insurance and what is the alternative yeah to your point um you do require to check out the fine print it is not covering the taxes charge and interest for the most part I have not seen it a minimum of so uh the the other location that I do think if you managed to get the protection what we are saying is is that if your compliance program is not up to pack you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK