Find out more about Papaya Global Full Name On Payslips ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to handling payments. This provides us with a safe and secure and trusted method of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
Employee Website
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work documents. The website is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business provide competitive advantages bundles to international employees regardless of the number of workers in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source regional benefits service providers in every nation, produce local accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total work expenses distributed per area, overall employment costs per cycle and far more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business managing and structure external relationships supporting Business customers and options along with serving as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for most influential companies on the planet we offer payroll payments and workforce management to all worker enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon great evening depending on where you are in the world it's charming 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 have actually been in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I've kind of had a range of different functions on the service provider side and also on the vendor side from a payroll point of view so actually anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everyone 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 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 extremely extremely dreary and I want I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business preserve different
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining different savings account for payroll in various countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely anticipate their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of factors most notably guidelines compliance information security and banking rules then there are the large numbers they include further intricacy the worldwide Labor force 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 people that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll model there's frequently an overwhelming variety of various systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or really very basic there's no genuine consistency framework we're residing in a period 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 and that just blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite frankly the more a business invests in international payroll the less of a photo they see an absence of exposure also encompasses payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide companies have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors inadequately interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is shipped 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 need to move the money worldwide payroll and payments don't run efficiently if they count on the needed multiple procedures systems and partners it is simply 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 a good question I constantly toss this back and say what is it what does not need to be consisted of ideal and what does
it need to be considered there's varying Bank information 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is definitely important but everywhere you look with payroll payment they are like 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 think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to kind of move on with that it likewise also to add to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely crucial that payroll and finance teams work closer together than ever um I'm constantly surprised when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation 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 information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high worth on wellness and the compensation landscape is becoming increasingly complex. Services are continuously introducing new benefits and payment options, which contributes to the total intricacy. Large corporations often divide their payroll and payment processing into different groups, which can cause ineffectiveness and traffic jams. In my viewpoint, this does not need to be the case. In today's highly advanced age, there's no reason for preserving cumbersome treatments. Payroll, the company's greatest expense, must be processed properly and on time. Even minor hold-ups can adversely impact employees' well-being and have significant effects. For that reason, it's important to focus on accurate and timely payments.
payroll group get um so I'm not sure anyone on this sort of webinar has actually 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 but ultimately payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment option is a great initial step um providing an end-to-end payroll service for your staff members worldwide again I believe is another huge um process again aligning and ensuring you have standardization Global processes all of those things are definitely crucial to success success of companies and reducing the number of tools platforms and checking account they need for their Global 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 ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how important 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 easy as possible for everybody that's associated with those processes and likewise so envision sorry I'm simply I was just gon na say imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case 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 get back to everybody so moving on appearance why do companies select to main different bank accounts there are organizations out there doing exactly this for specific nations and I have actually operated in an organization or lots of organizations doing exactly that I can say it does not constantly feel efficient 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 need to and anybody that's managing that process 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 lots of reasons one is it's the requirement I think individuals have got so utilized to we need a new checking account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I think this is a process that requires taking a look at it needs altering but ultimately individuals are really stuck with what they're familiar
with ideal um change is a hard thing we all don't like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having maintaining multiple checking account however there's a big amount of intricacy goes with establishing a checking account preserving it guaranteeing it can send International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is big however I think the sincere answer is modification um individuals haven't had the ability to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a savings account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century approximately there is a lot to keep an eye on and this method does pose numerous difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I just recently made a change 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 actually acquired another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your achievements.
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