Find out more about Papaya Global Not Responding ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and dependable approach of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Staff member Website
Workers have access to a Worker Portal where they can view their pay slips, wage and tax statements and work documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits packages to international staff members regardless of the variety of employees in the business. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source regional benefits companies in every nation, produce local accounts and have a minimum number of workers.
The HR capabilities provided by Global HR encompass different functions such as monitoring trip time, ensuring compliance, helping with the process of inviting brand-new staff members and bidding farewell to leaving ones, providing a protected online platform for keeping workers' documents, and providing support for work allow 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, overall employment costs dispersed per area, total work costs per cycle and a lot more.
Internationally, I have actually shown leadership and strategic competence in directing massive populations of over 100,000 employees across 170 countries. Presently, I are accountable for overseeing payroll methods, as discussed by Mark. My function involves handling and developing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for the majority of influential business on the planet we provide payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon good evening depending upon where you remain in the world it's charming 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 specifically dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the trouble in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually kind of had a range of various roles on the service provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already simply 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 is 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 very very bleak and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies keep different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic possession uh we'll also review a recap which must leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more common and handling them becomes increasingly more complicated Global companies are seeking to discover Solutions and brand-new methods to streamline processes especially from a payroll and cross-border payment viewpoint numerous organizations maintain separate savings account just for payroll while some have several accounts in different countries does it make sense for companies to keep different bank accounts often in different nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international business streamline the episode complex processes of
Making sure precise, efficient, and prompt payroll payments is a complex obstacle for companies running internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, learn how companies forecast payroll expenses to optimize working capital, and find how streamlining worldwide payroll payments can change them from a troublesome job into a strategic property.
Managing payroll globally is a difficult job due to numerous policies, compliance requirements, data security issues, and banking guidelines. The sheer number of staff members and companies contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual procedures, data silos, and a lack of combination, resulting in inconsistencies and inefficiencies. Despite residing in an era of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to provide insights and solutions to simplify and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more a business invests in international payroll the less of an image they see an absence of exposure also extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of international services have revealed 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 bad HCM data data entry mistakes poorly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the information is delivered to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they count on the required numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're making payments to workers or otherwise that's a great concern I constantly throw this back and state what is it what does not need to be included right and what does
it require to be thought of 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 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 complexity anywhere you look best ultimately developing a knowledge base is definitely crucial however all over you look with payroll payment they are like extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to kind of move forward with that it likewise as well to add to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is definitely necessary that payroll and financing groups work more detailed together than ever um I'm constantly amazed when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation 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 wherever they are but also paying statutory authorities and on statutory third parties so with the
The modern world positions a high value on wellness and the compensation landscape is becoming progressively detailed. Companies are continuously introducing brand-new benefits and payment alternatives, which contributes to the total intricacy. Big corporations typically divide their payroll and payment processing into separate teams, which can cause ineffectiveness and traffic jams. In my viewpoint, this does not need to hold true. In today's technically sophisticated age, there's no justification for keeping troublesome procedures. Payroll, the company's most significant expense, should be processed correctly and on time. Even minor delays can negatively affect employees' well-being and have significant effects. For that reason, it's vital to prioritize precise and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's viewed externally too. Therefore, it is essential to ensure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Utilizing the very first Global Payments first payroll payment solution is an excellent preliminary step towards offering an extensive payroll option for employees worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and checking account needed for international payroll are crucial consider attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyhow 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 simple as possible for everybody that's involved in those procedures and likewise so picture sorry I'm just I was just gon na say envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions imagine getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying to clean up 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 attempt to browse them and really see what was going on and kind of shot to get back to everyone so moving on look why do companies pick to primary separate bank accounts there are services out there doing exactly this for particular nations and I have actually worked in a business or many organizations doing precisely that I can state it does not constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not creating additional work for anyone where we do not have to and anybody that's handling 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 quantity that we are I think many reasons one is it's the requirement I think people have got so utilized to we need a brand-new bank account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I think this is a procedure that needs looking at it requires altering however ultimately people are extremely stuck with what they're familiar
with best um modification is a hard thing all of us do not like change um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having keeping multiple savings account however there's a big quantity of intricacy goes with establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for private people so the complexity is big however I believe the truthful answer is modification um people haven't been able to alter or have not had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century approximately there is a lot to keep track of and this method does present several difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I just did you switched our Business 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 deserve a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
Nominal Link Settings Papaya Global