Find out more about Papaya Global Deductions ... 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 gotten a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and reputable technique of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Employee Website
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages packages to international employees despite the number of workers in the company. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local benefits service providers in every nation, create regional accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, total employment expenses distributed per area, total employment expenses per cycle and much more.
environments across the globe I provided management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business managing and structure external relationships supporting Business customers and solutions in addition to acting as a consultant for those of you that don't understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for the majority of prominent companies worldwide we offer payroll payments and workforce management to all employee types in 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 excellent afternoon excellent evening depending upon where you are in the world it's lovely to fulfill you and thank you very much for your time as Ian stated 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 specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem 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 have actually kind of had a variety of different functions on the service provider side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting 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 everybody comes from and I actually 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 raining here it's very extremely gloomy and I wish I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies keep different
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is especially useful for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of maintaining separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in enough in one country but when you're doing it globally it's next level and Beyond it becomes intricate for a range of reasons most notably policies compliance data security and banking guidelines then there are the large numbers they add further complexity the worldwide Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the world in the conventional payroll model there's typically an overwhelming variety of various systems resulting in lengthy manual procedures and silos the variety of Integrations could be non-existent in big amounts and or very very fundamental there's no real consistency structure we're living in an era of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply 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 businesses state they have Workforce data in real time that's another number that gives me sleep deprived 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 failure to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of international organizations have actually expressed that they do not 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 poor HCM information information entry errors inadequately interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the information is delivered to the incorrect place the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run smoothly if they rely on the needed numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges company face when they're paying to employees or otherwise that's a good concern I always toss this back and say what is it what does not need to be included best and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 intricacy anywhere you look best eventually developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to kind of move forward with that it also also to add to that payroll and finance need to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is absolutely important that payroll and financing groups work more detailed together than ever um I'm always impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation 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 modern-day world places a high value on wellness and the payment landscape is becoming increasingly complex. Businesses are continuously introducing new benefits and payment choices, which adds to the overall complexity. Large corporations frequently divide their payroll and payment processing into different teams, which can cause inefficiencies and bottlenecks. In my opinion, this does not need to be the case. In today's technologically sophisticated period, there's no validation for preserving cumbersome procedures. Payroll, the company's greatest expense, need to be processed properly and on time. Even minor hold-ups can adversely impact workers' wellness and have significant effects. For that reason, it's important to prioritize accurate and timely payments.
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people just see when things fail. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's viewed externally too. Therefore, it is essential to guarantee that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Utilizing the first International Payments very first payroll payment option is a great preliminary step towards offering a detailed payroll solution for staff members worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and bank accounts essential for international payroll are crucial factors in attaining company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyhow we know how how important a function 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 simple as possible for everybody that's involved in those procedures and likewise so envision sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing task trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and kind of try to get back to everybody so carrying on appearance why do companies select to primary different savings account there are organizations out there doing precisely this for specific nations and I've worked in a business or numerous companies doing precisely that I can state it doesn't always feel efficient and it does create more work I understand we're not purposely doing that we're not creating additional work for anybody where we do not need to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of factors one is it's the requirement I believe individuals have actually got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I think this is a procedure that needs looking at it needs changing but ultimately people are very stuck with what they're familiar
with best um change is a challenging thing we all don't like modification um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having preserving numerous savings account but there's a big amount of complexity opts for setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for private individuals so the intricacy is substantial however I think the honest response is modification um individuals haven't been able to alter or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what could practically be determined to be the next Century or two there is a lot to keep track of and this method does present a number of challenges um so Johnny could you inform us about those difficulties 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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