Find out more about Papaya Global Support ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a protected and reputable method of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, saving me a considerable quantity of time each month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Employee Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business provide competitive benefits plans to global employees regardless of the number of workers in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source regional advantages service providers in every country, produce local accounts and have a minimum number of workers.
The HR capabilities provided by Worldwide HR encompass numerous functions such as keeping an eye on trip time, making sure compliance, assisting in the process of welcoming new employees and bidding farewell to departing ones, using a secure online platform for storing workers' documents, and supplying assistance for work permit procedures in case your staff members need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, total work costs distributed per place, total employment expenses per cycle and a lot more.
environments across the globe I offered management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout the business handling and building external relationships supporting Business customers and options along with acting as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for most influential business worldwide we offer payroll payments and labor force management to all employee enters over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon excellent night depending upon 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've remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty 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've type of had a range of different functions on the provider side and also on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really extremely gloomy and I want I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies maintain different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in adequate in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of factors most significantly policies compliance information security and banking rules then there are the large numbers they add more intricacy the international Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the standard payroll model there's typically an overwhelming variety of various systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in large amounts and or extremely extremely fundamental there's no real consistency structure we're living in a period of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind every time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more a service spends on international payroll the less of an image they see an absence of visibility likewise encompasses payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors poorly interacted hires and terminations along with lack management and system configurations and then when you round all of it off and the data is delivered to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they depend on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint 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 an excellent concern I constantly throw this back and say what is it what doesn't need to be included best and what does
it require to be thought about there's varying 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 capabilities 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 vital however all over you look with payroll payment they resemble incredibly 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 recognition that payroll payments are definitely fundamental and technology is enabling us to sort of progress with that it also too to add to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and finance teams work closer together than ever um I'm constantly astonished when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation 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 typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on well-being and the settlement landscape is ending up being increasingly intricate. Services are constantly presenting new advantages and payment alternatives, which contributes to the total intricacy. Large corporations typically divide their payroll and payment processing into separate groups, which can result in inadequacies and traffic jams. In my opinion, this doesn't have to be the case. In today's highly advanced era, there's no justification for preserving cumbersome procedures. Payroll, the business's biggest expense, need to be processed properly and on time. Even minor delays can negatively affect staff members' well-being and have far-reaching effects. For that reason, it's critical to prioritize accurate and timely payments.
payroll team get um so I'm unsure anybody on this kind of webinar has actually been told 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 ultimately payroll is such a crucial cycle all of us become aware of it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply 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 definitely important that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment solution is a terrific first step um offering an end-to-end payroll service for your workers internationally once again I believe is another huge um process once again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely crucial to success success of services and lowering 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 terms of of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how essential 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 just I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and actually see what was going on and kind of try to return to everyone so proceeding appearance why do companies select to primary separate savings account there are services out there doing exactly this for specific nations and I've operated in a service or many businesses doing exactly that I can say it doesn't always feel efficient and it does create more work I know we're not deliberately doing that we're not creating extra work for anybody where we do not need to and anybody that's handling that process I 'd be interested to hear your thoughts Johnny why do you think 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 believe people have actually got so utilized to we need a brand-new bank account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I think this is a procedure that needs looking at it requires altering however eventually individuals are really stuck with what they're familiar
with best um change is a challenging thing we all do not like modification um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having preserving multiple bank accounts but there's a big amount of complexity goes with establishing a bank account preserving it ensuring it can send International transfers ensuring it's established with the best user accesses for private people so the intricacy is big but I think the honest response is change um people have not had the ability to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to change but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be figured out to be the next Century approximately there is a lot to monitor and this technique does pose several obstacles um so Johnny could you inform us about those difficulties yeah naturally so there's a range right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you are worthy of a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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