Find out more about Papaya Global Contact No ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and secure and trustworthy approach of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive advantages plans to worldwide employees regardless of the variety of employees in the business. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source local advantages suppliers in every nation, produce regional accounts and have a minimum number of employees.
The HR abilities supplied by Global HR include different functions such as keeping track of trip time, guaranteeing compliance, assisting in the procedure of welcoming new staff members and bidding goodbye to departing ones, providing a protected online platform for keeping employees' documents, and providing assistance for work allow treatments in case your workers need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall employment expenses distributed per place, overall employment costs per cycle and much more.
environments around the world I supplied 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 said I work throughout business managing and structure external relationships supporting Enterprise clients and options as well as functioning as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent companies worldwide we offer payroll payments and labor force management to all staff member enters 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 introduce yourself obviously thank you good morning good afternoon excellent night depending upon where you are in the world it's beautiful to meet 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 ten years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of various roles on the provider side and also on the supplier side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to sort 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 sunshine is it it's not no it's it's drizzling here it's very very uninspiring and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving different checking account for payroll in different nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in sufficient in one country but when you're doing it internationally it's next level and Beyond it becomes complex for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the sheer numbers they add more intricacy the global Labor force is currently three and a half billion individuals by 2030 it's approximated 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 companies and growing all doing their own thing around the globe in the conventional payroll design there's often a frustrating variety of different systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in big amounts and or very extremely fundamental there's no real consistency framework we're living in an era of tech but payroll has been sluggish 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 each time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that provides me sleepless nights and rather frankly the more a business invests in global payroll the less of a picture they see an absence of exposure also extends to payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal almost half of global organizations have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors badly interacted hires and terminations in addition to absence management and system setups and after that when you round all of it off and the information is shipped to the wrong location the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they count on the required 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 question I always throw this back and say what is it what doesn't require to be consisted of ideal and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities 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 client's own in-country account so there's complexity wherever you look right ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like super payments no if but some babies 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 definitely basic and technology is allowing us to sort of progress with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work more detailed together than ever um I'm constantly astonished when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on wellness and the settlement landscape is becoming significantly complex. Services are constantly introducing brand-new advantages and payment options, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this does not have to be the case. In today's highly sophisticated era, there's no reason for maintaining troublesome treatments. Payroll, the business's biggest expense, need to be processed correctly and on time. Even slight delays can negatively affect workers' well-being and have far-reaching repercussions. Therefore, it's vital to prioritize accurate and timely payments.
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people just notice when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally too. Therefore, it is important to ensure that tasks like Wi-Fi Global and other crucial matters are done correctly. Utilizing the first Global Payments first payroll payment service is a fantastic preliminary step towards offering a detailed payroll solution for workers worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and bank accounts essential for international payroll are crucial consider attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as planned. Ultimately, we don't do it for the appreciation.
anyhow we know how how essential 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 procedures and likewise so envision sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job trying to clean up all those up for sure oh absolutely I can't think of 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 really see what was going on and kind of shot to return to everybody so moving on look why do business pick to main separate bank accounts there are services out there doing exactly this for specific nations and I have actually worked in a service or numerous organizations doing precisely that I can state it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not producing additional work for any person where we do not need to and anybody that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of reasons one is it's the standard I believe people have got so used to we require a new savings account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I think this is a procedure that needs looking at it requires changing however ultimately individuals are extremely stuck to what they recognize
with ideal um change is a hard thing we all don't like change um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having keeping multiple savings account but there's a big amount of complexity chooses establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private individuals so the intricacy is big however I believe the truthful response is change um people haven't had the ability to alter or have not had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to change however we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could almost be determined to be the next Century approximately there is a lot to track and this method does pose a number of challenges um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just did you switched 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 due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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