Find out more about Papaya Global Api Database Is Wrong Version For This Sdo ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a safe and secure and trusted approach of making payments to our 10,000 staff members worldwide.}
The innovative global payroll management app enhances my payroll procedure, saving me a considerable quantity of time every month. With its easy to use interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Worker Website
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to worldwide employees no matter the variety of employees in the business. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source local benefits suppliers in every country, develop regional accounts and have a minimum number of workers.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work costs distributed per location, total employment expenses per cycle and far more.
environments around the world I provided management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark stated I work across business handling and building external relationships supporting Business clients and services as well as serving as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for many influential companies worldwide we supply payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon good evening depending on where you remain in the world it's charming to satisfy you and thank you quite 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 market 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 problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually kind of had a range of various roles on the service provider side and also on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating 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 really do hope it's much sunnier than it remains 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 really extremely bleak and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical property uh we'll also go over a wrap-up which ought to leave his time at the extremely 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 International labor forces end up being increasingly more common and handling them becomes more and more complicated International organizations are looking to discover Solutions and new ways to simplify procedures particularly from a payroll and cross-border payment standpoint numerous organizations maintain different bank account just for payroll while some have several accounts in various nations does it make sense for companies to preserve separate bank accounts often in various nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies simplify the episode complex procedures of
making payroll payments precisely efficiently safely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business properly anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in enough in one country but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most importantly regulations compliance data security and banking rules then there are the large numbers they include additional complexity the worldwide 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 people that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the traditional payroll design there's typically a frustrating number of different systems causing lengthy manual processes and silos the number of Integrations could be non-existent in big amounts and or really extremely standard there's no real consistency structure we're living in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more a business spends on global payroll the less of a photo they see a lack of presence likewise reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of worldwide companies have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors badly communicated hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is delivered to the incorrect place the average expense of an international data 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 don't run efficiently if they count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges company face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't require to be consisted of right and what does
it require to be thought about there's varying Bank details 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 capabilities 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 consumer's own in-country account so there's intricacy wherever you look right eventually constructing a knowledge base is definitely crucial however all over you look with payroll payment they resemble extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a 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 absolutely basic and technology is enabling us to kind of move on with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Checking account Details varying banking requirements and setup procedures is definitely necessary that payroll and financing teams work better together than ever um I'm always surprised 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 work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically 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 people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high worth on wellness and the compensation landscape is becoming significantly elaborate. Businesses are continually presenting brand-new advantages and payment alternatives, which contributes to the general complexity. Large corporations frequently divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't need to hold true. In today's technically innovative period, there's no reason for preserving troublesome treatments. Payroll, the business's greatest expenditure, should be processed properly and on time. Even minor hold-ups can adversely impact workers' well-being and have far-reaching repercussions. For that reason, it's vital to prioritize precise and prompt payments.
payroll team get um so I'm not sure anyone on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an essential cycle we all find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I think 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 absolutely vital that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment solution is a great first step um supplying an end-to-end payroll service for your employees globally once again I think is another big um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of organizations and minimizing the variety of tools platforms and bank accounts they require for their International 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 ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're meant to be um I don't think any of us are really doing that for for the thanks
anyway we understand 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 simple as possible for everybody that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions imagine getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and in fact see what was going on and type of try to return to everyone so proceeding look why do business pick to primary separate bank accounts there are businesses out there doing exactly this for specific countries and I have actually worked in a company or numerous services doing exactly that I can say 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 any person where we don't need to and anybody that's managing 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 think lots of factors one is it's the requirement I think individuals have got so used to we require a brand-new bank account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually embraced 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 numerous other ways um to to type of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs changing but eventually people are very stuck to what they recognize
with best um change is a hard thing all of us do not like change um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having keeping multiple bank accounts but there's a huge amount of intricacy goes with setting up a bank account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for specific people so the intricacy is big but I believe the truthful response is change 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 checking account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've 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 might almost be figured out to be the next Century or so there is a lot to monitor and this technique does pose numerous difficulties um so Johnny could you tell us about those obstacles yeah obviously 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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