Find out more about Papaya Global Payslip ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a protected and reputable method of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Employee Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages plans to global workers despite the number of staff members in the business. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source regional benefits companies in every nation, produce local accounts and have a minimum variety of employees.
The HR abilities provided by International HR encompass various functions such as keeping track of holiday time, making sure compliance, facilitating the procedure of inviting new workers and bidding farewell to departing ones, offering a safe online platform for keeping employees' files, and offering support for work allow procedures in case your staff members need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total employment costs dispersed per area, total employment costs per cycle and far more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work across the business managing and structure external relationships supporting Business clients and solutions as well as acting as an advisor for those of you that do not know who papaya International is papaya is the first payroll and payments
business to make the time 100 list for a lot of prominent business worldwide we offer payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon good 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've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of various functions on the provider side and also on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather 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 everyone comes from and I truly 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 gloomy and I wish I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya International payroll payments as a strategic asset uh we'll likewise go over a wrap-up and that must leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more typical and handling them ends up being more and more complicated International organizations are aiming to find Solutions and new methods to improve procedures particularly from a payroll and cross-border payment viewpoint many companies keep different bank account just for payroll while some have numerous accounts in various countries does it make good sense for companies to preserve separate savings account in some cases in various nations it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international business simplify the episode complex procedures of
Making sure accurate, effective, and prompt payroll payments is a complex challenge for organizations running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, learn how business anticipate payroll expenses to optimize working capital, and discover how enhancing global payroll payments can change them from a challenging job into a tactical possession.
Handling payroll worldwide is a challenging task due to numerous guidelines, compliance requirements, information security concerns, and banking rules. The large variety of employees and services contributes to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 countless whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems often lead to manual procedures, data silos, and an absence of combination, resulting in disparities and inefficiencies. Regardless of living in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to supply insights and services to streamline and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more a business spends on worldwide payroll the less of an image they see an absence of exposure also extends to payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of global businesses have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry mistakes inadequately interacted hires and terminations in addition to 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 global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the needed multiple 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 challenges service face when they're paying to workers or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be consisted of best and what does
it require to be thought of there's varying Bank details 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 need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy wherever you look right eventually building a knowledge base is definitely critical but all over you look with payroll payment they resemble extremely payments no if however some babies 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 believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is permitting us to type of move on with that it also too to add to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is definitely important that payroll and financing teams work more detailed together than ever um I'm constantly amazed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody 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 often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to add to kind of the level of complexity there's increasingly more advantages being organ or being offered by organizations throughout the world so again you're simply wanting to include a growing number of payments to this currently intricate landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or real challenging type of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding info into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any company has from an expense viewpoint from an impact viewpoint on workers it is definitely crucial that it's done correctly 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 result on people's well-being and many other factors if individuals aren't paid uh I've constantly been impressed coming into this Market kind of the last 5 to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anybody 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 notice when things fail. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. For that reason, it is necessary to guarantee that jobs like Wi-Fi International and other essential matters are done correctly. Using the very first Worldwide Payments first payroll payment service is a terrific initial action towards offering an extensive payroll service for staff members worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and bank accounts essential for global payroll are key factors in accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyhow we know how how crucial 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 everyone that's involved in those procedures and likewise so imagine sorry I'm simply I was just gon na state picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and type of try to get back to everybody so proceeding look why do companies choose to main separate checking account there are companies out there doing precisely this for specific countries and I've operated in a service or many services doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not producing extra work for anyone where we don't have to and anybody that's dealing with 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 amount that we are I believe numerous reasons one is it's the requirement I think people have got so utilized to we require a new savings account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the norm the people have adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I think this is a procedure that needs taking a look at it needs changing however eventually people are extremely stuck with what they're familiar
with ideal um modification is a challenging thing all of us do not like change um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having keeping several bank accounts however there's a huge quantity of complexity chooses establishing a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for specific individuals so the intricacy is huge but I believe the sincere response is modification um people have not had the ability to change or have not had always the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I think it is knowledge you know and there is an element of resistance to change however we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could almost be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does position numerous obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I simply 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 workers you are worthy of a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
Nominal Link Settings Papaya Global