Find out more about Papaya Global El Salvador ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a protected and trusted method of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
Employee Portal
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and employment documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits plans to global workers no matter the number of staff members in the company. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local advantages service providers in every nation, produce regional accounts and have a minimum variety of workers.
The HR abilities provided by Worldwide HR incorporate numerous functions such as monitoring getaway time, ensuring compliance, assisting in the process of welcoming new employees and bidding farewell to leaving ones, offering a secure online platform for keeping employees' files, and offering assistance for work permit treatments in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, overall employment expenses distributed per place, overall employment expenses per cycle and much more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise customers and services as well as functioning as an advisor for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for the majority of prominent companies on the planet we provide payroll payments and workforce management to all staff member types in over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon good night depending upon where you remain in the world it's charming to meet 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 particularly dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually sort of had a variety of different functions on the service provider side and likewise on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone originates 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 really very bleak and I want I was somewhere else at this moment in time all right 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 managing International payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical asset uh we'll likewise go over a recap and that ought to leave his time at the really extremely 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 Global labor forces become more and more common and managing them becomes increasingly more intricate Worldwide companies are aiming to find Solutions and brand-new methods to streamline processes especially from a payroll and cross-border payment perspective lots of companies maintain different savings account just for payroll while some have several accounts in various countries does it make good sense for business to preserve different checking account in some cases in different nations it does but just for payroll is there a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business improve the episode complex procedures of
making payroll payments properly effectively securely and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how business accurately forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being complicated for a range of reasons most importantly regulations compliance data security and banking rules then there are the large numbers they add additional complexity the worldwide Workforce is presently three 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 presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the standard payroll model there's frequently an overwhelming variety of different systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in big quantities and or very extremely basic there's no real consistency framework we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in worldwide payroll the less of an image they see an absence of visibility likewise encompasses payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide businesses have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors inadequately interacted hires and terminations along with absence management and system configurations and then when you round it all off and the information is shipped to the wrong place the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they depend on the required multiple processes 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 great concern I always toss this back and state what is it what doesn't require to be included ideal and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 customer's own in-country account so there's intricacy any place you look best ultimately constructing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link in 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 technology is permitting us to type of move on with that it likewise as well to add to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely vital that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from estimation 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 information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to contribute to kind of the level of intricacy there's increasingly more benefits being organ or being used by businesses throughout the world so again you're simply wanting to include increasingly more payments to this currently complex landscape so if you sort 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 real obstacles or genuine challenging type of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we operate in they just make them more timely they make them less effective and they don't make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any service has from a cost point of view from an impact viewpoint on staff members it is definitely critical that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful effect on people's well-being and numerous other elements if individuals aren't paid uh I've always been surprised entering into this Market sort of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only see when things go wrong. However, when things go right, it's seen as just a regular job. This is how it's viewed externally as well. Therefore, it is vital to make sure that jobs like Wi-Fi International and other important matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment solution is a fantastic preliminary step towards providing an extensive payroll option for employees worldwide. Standardization, global procedures, and decreasing the number of tools, platforms, and savings account necessary for global payroll are key consider achieving organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we understand 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 associated with those processes and likewise so imagine sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions think of getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job 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 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 return to everybody so carrying on appearance why do companies choose to main separate bank accounts there are businesses out there doing precisely this for specific nations and I've worked in a business or numerous services doing exactly that I can say it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not creating additional work for anybody where we do not have to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the standard I believe individuals have got so used to we need a new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I think this is a procedure that requires looking at it requires altering however eventually people are extremely stuck with what they're familiar
with right um modification is a difficult thing all of us do not like modification um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having preserving numerous checking account however there's a substantial amount of intricacy goes with establishing a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is big but I believe the honest response is modification um individuals haven't had the ability to change or haven't had always the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I think it is understanding you understand and there is an element of resistance to change but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century or so there is a lot to monitor and this technique does present a number of difficulties um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I simply did you changed 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 International workers you deserve a corner workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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