Find out more about Adp Vs Papaya Global ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to handling payments. This supplies us with a protected and reliable method of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app improves my payroll procedure, conserving me a significant quantity of time every month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Worker Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business offer competitive benefits plans to global staff members regardless of the number of workers in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source local advantages providers in every country, create regional accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, overall work expenses distributed per area, total employment expenses per cycle and far more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work throughout the business managing and structure external relationships supporting Business customers and solutions along with functioning as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for the majority of influential companies in the world we supply payroll payments and workforce management to all employee key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon good night depending on where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or six years where I have actually kind of had a variety of various functions on the supplier side and also on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type 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 type of like see where everybody comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very very dreary and I wish I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies preserve separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll also review a wrap-up which ought to leave his time at the very very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more common and managing them becomes increasingly more complex Global organizations are looking to find Solutions and new ways to improve procedures particularly from a payroll and cross-border payment standpoint lots of organizations keep different bank account just for payroll while some have numerous accounts in various countries does it make sense for companies to keep different bank accounts in some cases in different nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies streamline the episode complex processes of
making payroll payments properly effectively safely and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in adequate in one country but when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of reasons most importantly policies compliance data security and banking rules then there are the sheer numbers they include more intricacy the international Workforce is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the standard payroll design there's frequently a frustrating number of different systems leading to lengthy manual processes and silos the variety of Combinations could be non-existent in big amounts and or extremely extremely basic there's no genuine consistency structure we're residing in an age 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 just blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a service invests in international payroll the less of an image they see a lack of exposure likewise extends to payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide companies have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors poorly interacted hires and terminations in addition to lack management and system setups and after that when you round everything off and the information is delivered to the wrong place the typical cost of an international information 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 don't run efficiently if they depend on the required numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be consisted of best and what does
it need to be thought of 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 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 developing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to type of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing groups work closer together than ever um I'm always impressed when people state I have actually 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 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 eventually 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 but also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high value on wellness and the settlement landscape is ending up being progressively detailed. Services are continually presenting new advantages and payment choices, which adds to the general complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can result in ineffectiveness and bottlenecks. In my opinion, this does not have to hold true. In today's technologically advanced era, there's no justification for keeping cumbersome treatments. Payroll, the business's most significant cost, should be processed properly and on time. Even minor hold-ups can adversely affect workers' wellness and have significant repercussions. Therefore, it's vital to prioritize precise and timely payments.
payroll group get um so I'm not sure anybody on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely vital that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment service is an excellent initial step um providing an end-to-end payroll option for your employees worldwide again I believe is another huge um procedure once again lining up and guaranteeing 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 need for their International 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 anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone rather where they're suggested to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand 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 involved in those procedures and also so picture sorry I'm simply I was just gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of 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 definitely be an interesting job 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 try to look through them and actually see what was going on and type of shot to return to everybody so proceeding look why do business select to primary separate savings account there are businesses out there doing precisely this for particular nations and I've operated in a business or many businesses doing exactly that I can say it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not producing additional work for anybody where we do not have to and anyone 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 believe many factors one is it's the standard I believe people have got so used to we need a brand-new checking account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have actually embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires altering but ultimately people are extremely stuck with what they're familiar
with right um change is a difficult thing we all do not like modification um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having preserving multiple bank accounts however there's a substantial amount of intricacy opts for establishing a checking account preserving it ensuring it can send International transfers ensuring it's established with the ideal user accesses for private people so the complexity is substantial but I believe the truthful response is change um individuals have not been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we've constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or so there is a lot to keep track of and this technique does pose numerous challenges um so Johnny could you tell us about those challenges yeah naturally so there's a range right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you are worthy of a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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