Find out more about Papaya Global Portugal ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and reputable technique of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and professionals
Worker Portal
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive advantages plans to worldwide staff members regardless of the variety of workers in the business. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits service providers in every nation, produce local accounts and have a minimum number of staff members.
The HR capabilities offered by Global HR incorporate various functions such as keeping an eye on getaway time, guaranteeing compliance, assisting in the process of inviting brand-new staff members and bidding farewell to leaving ones, offering a safe and secure online platform for storing employees' documents, and supplying assistance for work allow treatments in case your employees need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, total employment expenses dispersed per location, overall work costs per cycle and a lot more.
environments around the world I provided management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark said I work across business handling and structure external relationships supporting Enterprise customers and services in addition to serving as an advisor for those of you that do not understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential companies in the world we offer payroll payments and labor force management to all staff member enters 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 great afternoon excellent night depending on where you are in the world it's beautiful 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 ten years and particularly working on the payroll and payment sector for over seven years um I was interested by the complexity the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually kind of had a range of various functions on the supplier side and also on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I actually 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 really really dreary and I wish I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies preserve different
bank accounts 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 strategic possession uh we'll also review a wrap-up which must leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being more and more common and handling them ends up being a growing number of complicated Worldwide organizations are looking to find Solutions and new ways to simplify processes specifically from a payroll and cross-border payment perspective lots of companies preserve different savings account just for payroll while some have multiple accounts in various nations does it make sense for business to keep separate checking account in some cases in various countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies simplify the episode complex processes of
Ensuring accurate, efficient, and prompt payroll payments is a complex obstacle for businesses running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, find out how business anticipate payroll expenses to optimize working capital, and find how improving international payroll payments can transform them from a troublesome job into a strategic possession.
Handling payroll worldwide is a daunting job due to numerous policies, compliance requirements, information security issues, and banking rules. The sheer variety of staff members and organizations contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual processes, data silos, and a lack of integration, leading to disparities and inefficiencies. Despite residing in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to provide insights and services to simplify and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that gives me sleep deprived nights and rather honestly the more a service spends on international payroll the less of an image they see an absence of exposure likewise reaches payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the deal almost half of global 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 poor HCM data data entry mistakes improperly communicated 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 place the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they depend on the necessary several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to staff members or otherwise that's a great concern I always toss this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be thought about there's differing 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 customer's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is definitely vital however everywhere you look with payroll payment they are like very 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 between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and innovation is allowing us to sort of move on with that it also also to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and financing groups work closer together than ever um I'm constantly amazed when people say 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 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on well-being and the payment landscape is ending up being progressively elaborate. Organizations are constantly introducing new advantages and payment options, which adds to the general complexity. Large corporations frequently divide their payroll and payment processing into separate teams, which can result in inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's highly innovative age, there's no reason for preserving cumbersome procedures. Payroll, the company's most significant expenditure, must be processed properly and on time. Even minor hold-ups can adversely affect workers' wellness and have far-reaching consequences. For that reason, it's important to focus on precise and timely payments.
payroll team get um so I'm uncertain anybody on this sort of webinar has actually 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 staff members or not um however ultimately payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think 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 things is done properly so leveraging the very first Global Payments very first payroll payment solution is a great initial step um providing an end-to-end payroll service for your staff members internationally again I believe is another big um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of companies and decreasing the number of tools platforms and checking account they require for their Worldwide 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've never 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 rather where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyhow we know 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 everyone that's associated with those procedures and also so picture sorry I'm simply I was simply gon na say picture the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions imagine getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting 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 need days of the week to attempt to look through them and in fact see what was going on and sort of shot to get back to everyone so proceeding look why do companies choose to main separate savings account there are businesses out there doing precisely this for particular countries and I've worked in a business or lots of organizations doing exactly that I can state it doesn't always feel efficient and it does create more work I know we're not purposely doing that we're not creating extra work for anybody where we do not have to and anybody that's dealing with that procedure 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 think numerous factors one is it's the requirement I think individuals have got so used to we require a new savings account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a procedure that needs looking at it requires changing but eventually individuals are extremely stuck to what they recognize
with ideal um modification is a hard thing all of us do not like change um so I believe it's just type 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 undoubtedly the benefits of having keeping multiple bank accounts however there's a big quantity of complexity goes with establishing a savings account maintaining it ensuring it can send International transfers ensuring it's set up with the right user accesses for private people so the intricacy is huge but I think the sincere response is modification um people haven't had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to keep track of and this approach does present several challenges um so Johnny could you tell us about those obstacles yeah naturally 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 Global workers you are worthy of a corner workplace with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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