Find out more about Papaya Global Acquires Azimo ... 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 obtained a separate Chief Financial Officer particularly committed to handling payments. This provides us with a safe and secure and dependable approach of making payments to our 10,000 workers worldwide.}
The innovative global payroll management app improves my payroll procedure, conserving me a substantial 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 specialists.
Worker Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and work files. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive benefits packages to international workers regardless of the number of employees in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source local advantages providers in every country, develop local accounts and have a minimum variety of staff members.
The HR abilities provided by Global HR incorporate various functions such as keeping an eye on holiday time, ensuring compliance, helping with the process of welcoming new employees and bidding farewell to leaving ones, offering a safe and secure online platform for storing workers' documents, and providing support for work permit treatments in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall work costs distributed per area, overall employment expenses per cycle and much more.
environments across the globe I offered management 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 said I work across the business handling and building external relationships supporting Business customers and services as well as serving as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for many prominent business in the world we provide payroll payments and labor force management to all employee types in over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good evening depending on where you remain in the world it's charming to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I've sort of had a range of different functions on the supplier side and likewise on the supplier side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody comes 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 extremely dreary and I want I was somewhere else 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 difficulty years of managing Worldwide payroll why companies keep separate
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly 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 companies accurately anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in adequate in one country but when you're doing it globally it's next level and Beyond it becomes intricate for a variety of reasons most notably guidelines compliance information security and banking rules then there are the sheer numbers they include further intricacy the global Workforce is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll design there's typically a frustrating variety of different systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or very really basic there's no genuine consistency structure we're living in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which 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 services state they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more an organization invests in worldwide payroll the less of an image they see an absence of exposure also extends to payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide businesses have expressed that they don't 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 data information entry errors poorly interacted hires and terminations along with absence management and system setups and after that when you round it all off and the data is delivered to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they depend on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles company face when they're making payments to employees or otherwise that's a great question I always toss this back and state what is it what does not need to be included best and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 customer's own in-country account so there's complexity wherever you look right eventually building a knowledge base is absolutely vital however everywhere you look with payroll payment they are like super 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 in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is permitting us to type of progress with that it likewise too to add to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely essential that payroll and financing teams work better together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split 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 data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on well-being and the settlement landscape is ending up being significantly intricate. Businesses are continually presenting new benefits and payment options, which contributes to the overall intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't need to hold true. In today's technically innovative era, there's no validation for preserving troublesome treatments. Payroll, the company's greatest cost, need to be processed properly and on time. Even small hold-ups can adversely affect staff members' wellness and have significant effects. For that reason, it's critical to focus on accurate and timely payments.
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only discover when things fail. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally as well. Therefore, it is necessary to make sure that jobs like Wi-Fi International and other essential matters are done correctly. Using the first Global Payments very first payroll payment service is a great preliminary action towards providing an extensive payroll service for staff members worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and savings account necessary for global payroll are essential consider achieving business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things don't go as prepared. Eventually, we do not do it for the gratitude.
anyhow we know how how important a role 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 procedures and also so think of sorry I'm just I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions think of getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task 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 return to everybody so carrying on look why do business select to primary separate savings account there are services out there doing exactly this for particular countries and I've worked in a company or lots of businesses doing precisely that I can say it does not always feel efficient and it does create more work I know we're not deliberately doing that we're not developing additional work for any person where we do not need to and anybody that's managing that procedure 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 numerous factors one is it's the standard I believe people have got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll purposes 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 the people have actually adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I think this is a process that requires taking a look at it needs changing but ultimately individuals are very stuck with what they recognize
with right um modification is a challenging thing we all do not like modification um so I believe it's just kind 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 obviously the benefits of having preserving several bank accounts however there's a huge quantity of complexity chooses setting up a bank account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private individuals so the intricacy is big but I think the sincere answer is change um individuals haven't had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to change however we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century or two there is a lot to track and this method does present 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 switched our Business 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 workers you deserve a corner workplace 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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