Find out more about Papaya Global Reports Location ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and dependable technique of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
Staff member Portal
Employees have access to an Employee Portal where they can view their pay slips, wage and tax statements and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to worldwide staff members no matter the number of workers in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source regional benefits companies in every country, develop local accounts and have a minimum number of staff members.
The HR capabilities offered by Worldwide HR include numerous functions such as keeping track of getaway time, ensuring compliance, facilitating the process of inviting brand-new employees and bidding goodbye to departing ones, offering a secure online platform for storing workers' files, and providing assistance for work allow procedures in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall work costs distributed per location, total employment costs per cycle and far more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work across business managing and building external relationships supporting Enterprise customers and options along with serving as an advisor for those of you that do not understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential business on the planet we offer payroll payments and labor force management to all staff member types in over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon great night depending upon where you are in the world it's beautiful 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 market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually sort of had a variety of various roles on the provider side and also on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to kind 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 sunshine is it it's not no it's it's raining here it's really extremely gloomy and I want I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies maintain different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya International payroll payments as a strategic property uh we'll also review a recap and that needs to 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 Worldwide labor forces end up being more and more typical and managing them becomes more and more complicated International companies are seeking to discover Solutions and brand-new ways to enhance processes specifically from a payroll and cross-border payment perspective many organizations preserve separate bank account just for payroll while some have numerous accounts in various countries does it make good sense for companies to preserve separate bank accounts sometimes in different countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting international companies enhance the episode complex procedures of
Ensuring accurate, efficient, and timely payroll payments is a complex difficulty for companies running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to optimize working capital, and find how improving worldwide payroll payments can change them from a burdensome job into a strategic possession.
Managing payroll worldwide is an overwhelming task due to different policies, compliance requirements, information security issues, and banking guidelines. The large number of staff members and companies contributes to the intricacy, with an estimated 3.5 billion individuals in the worldwide workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems typically lead to manual procedures, information silos, and a lack of combination, leading to disparities and inadequacies. Despite living in an era of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to provide insights and options to simplify and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a business 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 lead to compliance mishaps in the last mile of the transaction nearly half of international businesses have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes inadequately communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the data is delivered to the incorrect place the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they depend on the needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're making payments to workers or otherwise that's a good concern I always toss this back and say what is it what does not need to be consisted of 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 country there's payment timespan 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 any place you look best ultimately constructing a knowledge base is definitely vital but all over you look with payroll payment they resemble extremely 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 recognition that payroll payments are definitely essential and technology is enabling us to sort of move on with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely essential that payroll and financing teams work better together than ever um I'm constantly impressed when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they split 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 individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to contribute to type of the level of complexity there's more and more advantages being organ or being provided by organizations across the world so once again you're just wanting to include a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine difficult sort of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would absolutely say 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 task there are teams feeding information into the next function as it were that's really managing the payment side of things however you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to develop extra handoffs at the same times that we operate in they simply make them more timely they make them less effective and they don't make them what they need to be in in a period of tech and an age that you understand that we are working in today there is no reason why we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any service has from a cost perspective from an effect viewpoint on staff members it is absolutely 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 greatest harmful impact on people's wellness and lots of other elements if people aren't paid uh I've always been surprised coming into this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all hear about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done properly so leveraging the very first International Payments very first payroll payment option is a terrific primary step um offering an end-to-end payroll solution for your staff members internationally once again I believe is another huge um process again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely key to success success of businesses and lowering the variety of tools platforms and savings account they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless 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 meant to be um I do not think any of us are actually 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 simple as possible for everyone that's involved in those procedures and likewise so picture sorry I'm just I was simply gon na say envision the quantity 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 numerous thousands potentially Millions picture getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and sort of try to return to everybody so proceeding look why do business select to primary different checking account there are businesses out there doing exactly this for particular countries and I've worked in a company or many companies doing precisely that I can state it doesn't always feel efficient and it does produce more work I understand we're not intentionally doing that we're not producing additional work for anyone where we do not have to and anyone that's dealing with 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 numerous factors one is it's the standard I believe people have got so used to we require a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually 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 numerous other ways um to to sort of do it so I think there's a variety I believe this is a process that needs looking at it needs altering however eventually individuals are really stuck to what they're familiar
with right um modification is a difficult thing we all do not like change um so I think it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having preserving multiple checking account however there's a substantial quantity of complexity goes with setting up a checking account preserving it ensuring it can send International transfers guaranteeing it's established with the best user accesses for specific individuals so the complexity is big however I think the truthful answer is change um individuals haven't been able to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might nearly be determined to be the next Century or two there is a lot to track and this method does posture a number of challenges um so Johnny might you inform us about those difficulties yeah of course so there's a variety 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 Worldwide employees you are worthy of a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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