Find out more about Rd Tax Credit Can Offset Payroll Taxes Papaya Global ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to managing payments. This supplies us with a protected and trusted approach of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Staff member Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies offer competitive advantages packages to global staff members no matter the number of employees in the company. The company can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source regional advantages companies in every nation, produce regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, total employment costs distributed per place, total work expenses per cycle and a lot more.
environments across the globe I supplied management and strategy 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 the business handling and building external relationships supporting Enterprise customers and solutions as well as serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential business worldwide we provide payroll payments and labor force management to all employee types in over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon great evening depending on where you remain in the world it's lovely to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a variety of various functions on the supplier side and likewise on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody 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 definitely not the peak of the sunshine is it it's not no it's it's raining here it's really very dreary and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies keep different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical asset uh we'll likewise go over a wrap-up and that should leave his time at the really really 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 workforces end up being more and more common and handling them becomes a growing number of complex Worldwide organizations are aiming to find Solutions and brand-new methods to enhance processes specifically from a payroll and cross-border payment viewpoint many organizations keep separate bank account just for payroll while some have multiple accounts in different nations does it make good sense for companies to keep different savings account sometimes in various countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies enhance the episode complex processes of
making payroll payments accurately efficiently safely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately forecast their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of factors most significantly guidelines compliance information security and banking rules then there are the sheer numbers they include more complexity the international Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the conventional payroll design there's typically an overwhelming variety of different systems causing lengthy manual processes and silos the variety of Combinations could be non-existent in large quantities and or very extremely fundamental there's no genuine consistency structure we're living 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 frequently with pen and paper which simply blows my mind each 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 businesses say they have Labor force information in real time that's another number that provides me sleepless nights and rather frankly the more a company invests in international payroll the less of a photo they see an absence of presence also encompasses payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of global businesses have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes improperly interacted hires and terminations as well as lack management and system setups and after that when you round everything off and the information is shipped to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments don't run efficiently if they rely on the essential multiple procedures 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 challenges organization face when they're paying to workers or otherwise that's an excellent concern I always toss this back and say what is it what does not require to be included ideal and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames 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 customer's own in-country account so there's intricacy wherever you look best ultimately developing a knowledge base is definitely crucial however all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link 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 innovation is allowing us to sort of move on with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely important that payroll and finance teams work closer together than ever um I'm always amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information 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
world we live in and well-being being a growing number of essential to contribute to kind of the level of intricacy there's more and more advantages being organ or being used by companies across the world so once again you're just aiming to include increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine challenges or real difficult type of pay uses to play to pay people I think yeah I imply over the last well yeah a couple of years I would definitely state that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding information into the next function as it were that's really managing the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to create extra handoffs at the same times that we run 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 an age of tech and an era that you understand that we are operating in today there is no reason that we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any organization has from an expense viewpoint from an effect point of view on employees it is definitely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest detrimental effect on individuals's wellness and lots of other factors if individuals aren't paid uh I've always been surprised entering this Market sort of the last five to 10 years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just notice when things go wrong. However, when things go right, it's seen as simply a routine job. This is how it's viewed externally too. Therefore, it is necessary to ensure that jobs like Wi-Fi Global and other vital matters are done correctly. Utilizing the very first International Payments very first payroll payment service is a fantastic preliminary action towards offering a detailed payroll option for employees worldwide. Standardization, international procedures, and lowering the number of tools, platforms, and savings account required for worldwide payroll are essential factors in attaining business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyway we understand how how important a role it is and that'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 imagine sorry I'm simply I was simply gon na say envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions picture getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and really see what was going on and sort of shot to return to everyone so proceeding appearance why do business select to main different bank accounts there are businesses out there doing exactly this for particular countries and I've operated in a business or numerous organizations doing exactly that I can state it doesn't constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not creating extra work for anybody where we do not need to and anybody that's managing 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 requirement I think people have actually got so used to we require a brand-new savings account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I believe this is a process that needs taking a look at it requires changing but ultimately people are very stuck with what they're familiar
with ideal um change is a challenging thing all of us don't like modification um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having keeping numerous checking account but there's a big quantity of intricacy opts for setting up a checking account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for private people so the complexity is huge but I think the honest response is change um people have not been able to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could practically be determined to be the next Century or so there is a lot to keep an eye on and this method does posture numerous obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I recently made a modification to our Enterprise 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 gained another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is closer, considering your accomplishments.
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