Find out more about Papaya Global Change Database Path ... 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 actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a protected and trustworthy technique of paying to our 10,000 employees worldwide.}
The advanced global payroll management app improves my payroll procedure, saving me a significant quantity of time monthly. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
The Worker Portal offers workers with the capability to access and view essential files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to global staff members no matter the number of staff members in the company. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local benefits suppliers in every country, develop regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, total employment costs distributed per place, overall work costs per cycle and a lot more.
environments around the world I supplied management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work across business managing and building external relationships supporting Business customers and solutions along with functioning as a consultant for those of you that don't know who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for many influential business on the planet we supply payroll payments and workforce management to all staff member enters over 160 nations I am pleased to state that we also 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 remain in the world it's beautiful to fulfill 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've been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of various functions on the provider side and likewise on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I really 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 drizzling here it's very very dreary and I want I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies keep different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of preserving separate savings account for payroll in various nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs 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 difficult in enough in one nation however when you're doing it globally it's next level and Beyond it ends up being complicated for a range of reasons most significantly guidelines compliance data security and banking guidelines then there are the sheer numbers they add further complexity the international Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the traditional payroll model there's often an overwhelming variety of various systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or very very basic there's no genuine consistency framework we're residing in an era of tech however payroll has 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 simply blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more a company invests in global payroll the less of an image they see a lack of exposure also encompasses payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of global organizations have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors improperly communicated hires and terminations along with absence management and system setups and then when you round it all off and the data is delivered to the incorrect place the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they count on the required numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're paying to workers or otherwise that's a good question I constantly toss this back and state what is it what doesn't require to be included best 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 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 need to pay from the customer's own in-country account so there's complexity anywhere you look ideal ultimately 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 take a 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 definitely fundamental and technology is enabling us to type of move forward with that it also too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely important that payroll and finance teams work better together than ever um I'm constantly astonished when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as an industry 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 likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on wellness and the settlement landscape is becoming significantly elaborate. Companies are continuously presenting brand-new advantages and payment alternatives, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into different teams, which can cause inadequacies and bottlenecks. In my viewpoint, this does not have to hold true. In today's technologically innovative age, there's no reason for keeping cumbersome treatments. Payroll, the business's greatest expense, should be processed correctly and on time. Even minor delays can negatively impact workers' wellness and have significant repercussions. Therefore, it's crucial to prioritize accurate and timely payments.
payroll group get um so I'm uncertain anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise 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 Worldwide Payments very first payroll payment option is a great initial step um supplying an end-to-end payroll solution for your employees internationally again I believe is another huge um procedure once again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of businesses and minimizing the variety of tools platforms and bank accounts they need for their Worldwide payroll too couldn't agree with you more and on the the front in regards to 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 ten or whatever it might be with the with the the complaints where things haven't gone rather where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyway we know how how important 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 everyone that's associated with those processes and likewise so imagine sorry I'm just I was simply gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job attempting 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 require days of the week to try to check out them and in fact see what was going on and type of shot to get back to everyone so carrying on appearance why do business choose to primary different checking account there are organizations out there doing precisely this for particular nations and I've operated in a business or numerous organizations doing precisely that I can say it does not always feel effective and it does create more work I understand we're not intentionally doing that we're not creating extra work for anybody where we don't need to and anyone that's dealing with that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the standard I think people have actually got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I think this is a procedure that requires taking a look at it needs altering however eventually people are very stuck with what they're familiar
with best um modification is a tough thing all of us do not like change um so I believe it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having keeping numerous checking account but there's a huge amount of complexity opts for establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is big but I think the honest response is modification um individuals have not had the ability to alter or haven't had always the knowledge to really make that change into alternate Solutions besides opening a bank account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to alter however we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be identified to be the next Century or so there is a lot to keep an eye on and this approach does pose a number of challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I just did you switched 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 International workers you deserve a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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