Find out more about Does Papaya Global Pay My Payroll Taxes ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and secure and trusted technique of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
The Staff member Portal offers workers with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global helps companies use competitive benefits bundles to global staff members regardless of the number of employees in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local benefits companies in every nation, develop local accounts and have a minimum number of workers.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall work expenses dispersed per area, total work expenses per cycle and much more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work across the business managing and structure external relationships supporting Enterprise customers and services as well as acting as a consultant for those of you that do not understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for many influential business on the planet we provide payroll payments and workforce management to all worker key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon excellent evening depending on where you are in the world it's lovely to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of different roles on the service provider side and likewise on the vendor side from a payroll viewpoint so truly looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very really bleak and I wish I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why business preserve different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll also review a wrap-up and that ought to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of typical and managing them ends up being increasingly more intricate International organizations are wanting to find Solutions and new methods to improve processes specifically from a payroll and cross-border payment perspective numerous organizations maintain separate bank account just for payroll while some have several accounts in various nations does it make good sense for business to maintain different checking account often in various countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies simplify the episode complex procedures of
Ensuring accurate, efficient, and timely payroll payments is a complex obstacle for companies running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to enhance working capital, and discover how streamlining international payroll payments can transform them from a difficult task into a strategic possession.
Handling payroll internationally is a difficult job due to various policies, compliance requirements, data security concerns, and banking rules. The sheer number of staff members and services contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems typically result in manual processes, information silos, and an absence of combination, resulting in disparities and inefficiencies. In spite of living in an era of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to supply insights and solutions to streamline and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a service spends on worldwide payroll the less of an image they see a lack of visibility also reaches payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction nearly half of worldwide services have 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 because of time reporting poor HCM information data entry mistakes inadequately communicated hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the information is delivered to the wrong location the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they count on the required several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're making payments to staff members or otherwise that's an excellent concern I always toss this back and state what is it what doesn't require to be included right and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy anywhere you look best ultimately building a knowledge base is definitely vital however all over 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 sort of link in 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 technology is allowing us to kind of move forward with that it also also to add to that payroll and financing need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing teams work more detailed together than ever um I'm always surprised when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession 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 often 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 individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to contribute to kind of the level of complexity there's a growing number of benefits being organ or being used by organizations throughout the world so again you're just seeking to add more and more payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine difficulties or real difficult sort of pay utilizes to play to pay people I think yeah I indicate 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 teams doing one part of the job there are groups feeding details into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they need to be in in a period of tech and a period that you know that we are operating in today there is no reason we are still making this as tough as it needs to be concurred and rightly as you said payroll is the single biggest liability that any service has from a cost perspective from an impact point of view on workers it is definitely critical 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 biggest damaging result on individuals's well-being and numerous other factors if people aren't paid uh I've always been astonished coming into this Market kind of the last five to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people just see when things go wrong. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. Therefore, it is necessary to guarantee that tasks like Wi-Fi Global and other vital matters are done correctly. Using the very first Global Payments very first payroll payment service is an excellent initial action towards providing an extensive payroll solution for employees worldwide. Standardization, worldwide processes, and lowering the variety of tools, platforms, and bank accounts needed for worldwide payroll are key consider achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyhow we understand 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 everybody that's involved in those processes and also so envision sorry I'm simply I was just gon na say think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and really see what was going on and type of shot to get back to everyone so moving on look why do companies pick to primary separate checking account there are companies out there doing exactly this for specific nations and I've worked in a business or numerous services doing exactly that I can say it does not constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not creating extra work for any person where we don't have to and any person that's handling 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 lots of reasons one is it's the standard I believe individuals have actually got so utilized 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 believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs looking at it requires altering but ultimately individuals are extremely stuck with what they recognize
with ideal um modification is a hard thing we all do not like change um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having preserving numerous checking account but there's a substantial quantity of complexity goes with establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for private people so the intricacy is substantial however I believe the honest response is change um people have not had the ability to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to change however we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century or two there is a lot to track and this technique does posture several challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a variety 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 jobs on one platform. It seems like our CFO has gotten another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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