Find out more about Papaya Global Antivirus Exclusions ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to managing payments. This provides us with a protected and trusted method of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, conserving me a considerable amount of time each month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Employee Website
Employees 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 multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive advantages packages to international employees regardless of the variety of staff members in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every nation, develop local accounts and have a minimum variety of workers.
The HR abilities offered by Worldwide HR incorporate different functions such as monitoring vacation time, ensuring compliance, facilitating the procedure of inviting new staff members and bidding farewell to departing ones, offering a protected online platform for saving employees' files, and providing assistance for work allow treatments in case your workers require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total employment costs distributed per location, total employment expenses per cycle and a lot more.
environments across the globe I offered leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business managing and structure external relationships supporting Business customers and services as well as serving as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for most influential business worldwide we offer payroll payments and workforce management to all employee types in over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent 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 have actually remained in the payments market for over 10 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 genuine go at that over the last 5 or 6 years where I have actually kind of had a range of various functions on the company side and also on the vendor side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly 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 really uninspiring and I wish I was somewhere else at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll also review a recap which should leave his time at the extremely very 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 Worldwide labor forces end up being increasingly more typical and handling them ends up being increasingly more intricate International companies are looking to discover Solutions and new ways to enhance processes especially from a payroll and cross-border payment standpoint many companies preserve different bank account just for payroll while some have multiple accounts in different countries does it make good sense for companies to keep different checking account often in various nations it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational companies simplify the episode complex procedures of
making payroll payments properly efficiently safely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how business properly forecast their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of factors most importantly policies compliance data security and banking guidelines then there are the large numbers they include further complexity the worldwide Workforce is currently 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 currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the standard payroll model there's typically a frustrating number of various systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in large amounts and or extremely really basic there's no genuine consistency structure we're living in an era of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that 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 just 11 of businesses state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather honestly the more a business invests in global payroll the less of a picture they see an absence of visibility also extends to payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the transaction almost half of international businesses have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes badly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the information is shipped to the incorrect place 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 money worldwide payroll and payments do not run smoothly if they depend on the essential several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're paying to staff members or otherwise that's a good concern I constantly toss this back and state what is it what doesn't require to be consisted of right and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 consumer's own in-country account so there's complexity anywhere you look ideal eventually constructing a knowledge base is definitely important however all over you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to sort of move forward with that it likewise too to contribute to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely necessary that payroll and finance groups work closer together than ever um I'm always impressed when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from computation 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 process it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of crucial 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 just aiming to include more and more payments to this currently complex 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 obstacles or real difficult type of pay uses to play to pay people I think yeah I suggest over the last well yeah a couple of years I would certainly state that the bigger an organization 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 information into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to create additional handoffs in the processes that we operate in they just make them more timely they make them less efficient and they don't make them what they need to be in in a period of tech and an era that you understand that we are working in today there is no reason why we are still making this as challenging as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any business has from a cost perspective from an effect viewpoint on employees it is definitely important that it's done correctly and on time so what we mean 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 damaging result on people's wellness and many other aspects if individuals aren't paid uh I've constantly been surprised entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll group may 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 staff members or not. Payroll is a crucial cycle, and people only see when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's viewed externally as well. For that reason, it is necessary to ensure that tasks like Wi-Fi International and other important matters are done correctly. Utilizing the very first Global Payments first payroll payment option is a terrific preliminary action towards offering a comprehensive payroll service for employees worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and checking account needed for global payroll are crucial factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things do not go as planned. Ultimately, we do not do it for the appreciation.
anyhow we know how how crucial 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 easy as possible for everybody that's involved in those processes and also so envision sorry I'm just I was simply gon na say think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating task attempting to clean all those up for sure oh definitely I can't think of 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 kind of shot to return to everyone so moving on appearance why do business choose to main separate checking account there are companies out there doing precisely this for specific nations and I've worked in a business or numerous services doing precisely that I can state it doesn't constantly feel efficient and it does create more work I know we're not deliberately doing that we're not producing additional work for anybody where we don't have to and any person that's handling 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 quantity that we are I believe many reasons one is it's the standard I believe individuals have actually got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a process that needs looking at it needs altering however eventually people are really stuck with what they're familiar
with ideal um modification is a hard thing all of us do not like change um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having keeping several savings account however there's a huge quantity of complexity goes with establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for private people so the complexity is huge but I believe the honest response is modification um individuals haven't had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could practically be figured out to be the next Century or so there is a lot to keep track of and this method does present numerous challenges um so Johnny could you tell us about those challenges yeah of course 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 International workers you are worthy of a corner office with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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