Find out more about Papaya Global Employer Allowance ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to handling payments. This offers us with a secure and reputable approach of making payments to our 10,000 employees worldwide.}
The advanced global payroll management app simplifies my payroll procedure, conserving me a substantial quantity of time each month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Staff member Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and employment files. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive advantages packages to global employees regardless of the number of workers in the company. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source local advantages suppliers in every country, develop regional accounts and have a minimum number of workers.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total work costs distributed per location, overall employment costs per cycle and a lot more.
environments across the globe I provided management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business handling and building external relationships supporting Enterprise clients and options in addition to serving as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for a lot of influential companies worldwide we supply payroll payments and workforce management to all employee enters 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 introduce yourself obviously thank you good morning great afternoon excellent night depending upon where you remain in the world it's beautiful to meet 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've remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've sort of had a range of different functions on the company side and also on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or two 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 currently simply to hear where everyone is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely really bleak and I want I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical possession uh we'll likewise review a wrap-up and that must leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more typical and handling them becomes more and more complex International companies are aiming to discover Solutions and new ways to improve procedures especially from a payroll and cross-border payment viewpoint many organizations maintain different savings account just for payroll while some have several accounts in different nations does it make good sense for companies to preserve separate savings account often in various countries it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business simplify the episode complex processes of
making payroll payments precisely effectively securely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one country but when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of factors most importantly guidelines compliance information security and banking rules then there are the sheer numbers they add more intricacy the global Labor force is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll design there's typically an overwhelming number of various systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in large quantities and or very really 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 just blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that offers me sleepless nights and quite frankly the more an organization invests in global payroll the less of a photo they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of international services have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes poorly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the data is shipped to the wrong location the average cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments do not run efficiently if they count on the required several procedures systems and partners it is simply 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 making payments to workers or otherwise that's an excellent concern I always throw this back and state what is it what doesn't need to be included ideal and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 wherever you look right ultimately building a knowledge base is definitely crucial but everywhere you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is permitting us to type of move on with that it likewise too to add to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely essential that payroll and financing groups work better together than ever um I'm constantly amazed when people say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation 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 people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on wellness and the compensation landscape is becoming increasingly detailed. Organizations are continually presenting new advantages and payment choices, which contributes to the general complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can cause ineffectiveness and traffic jams. In my viewpoint, this does not have to be the case. In today's highly sophisticated era, there's no justification for preserving cumbersome procedures. Payroll, the business's greatest expense, need to be processed properly and on time. Even small delays can negatively impact employees' wellness and have significant consequences. For that reason, it's important to prioritize accurate and prompt payments.
payroll group get um so I'm unsure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such a crucial cycle all of us become aware of it when it fails everyone jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done properly so leveraging the first International Payments very first payroll payment service is a terrific initial step um offering an end-to-end payroll solution for your workers worldwide once again I think is another big um procedure again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of organizations and minimizing the number of tools platforms and bank accounts they require 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 have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyway we understand how how essential 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 everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na state think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions think of getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely 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 need days of the week to try to check out them and in fact see what was going on and kind of shot to get back to everybody so moving on appearance why do companies pick to primary different checking account there are organizations out there doing exactly this for particular countries and I have actually operated in a company or many companies doing precisely that I can say it does not constantly feel efficient and it does create more work I know we're not purposely doing that we're not developing additional work for any person where we don't have to and anyone that's managing that process 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 believe lots of factors one is it's the standard I believe people have got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I believe this is a process that requires looking at it needs changing however eventually individuals are extremely stuck with what they recognize
with best um change is a hard thing we all do not like modification um so I think it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having maintaining numerous bank accounts but there's a huge quantity of intricacy opts for setting up a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is huge however I believe the honest answer is modification um people have not been able to change or haven't had always the understanding to really make that change into alternate Solutions other than opening a checking account I think you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to alter 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 carrying on and moving into you know what might almost be figured out to be the next Century or two there is a lot to monitor and this approach does posture a number of difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I simply did you switched 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 employees you are worthy of a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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