Papaya Global Alternatives

Find out more about Papaya Global Alternatives ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly devoted to handling payments. This offers us with a protected and reliable technique of making payments to our 10,000 staff members worldwide.}

the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals

Employee Website
Workers have access to an Employee Website where they can view their pay slips, wage and tax declarations and work files. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.

Benefits Administration
Papaya Global assists companies use competitive advantages packages to worldwide staff members despite the variety of workers in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source regional advantages suppliers in every country, produce local accounts and have a minimum variety of employees.

The HR abilities supplied by Worldwide HR include numerous functions such as monitoring vacation time, guaranteeing compliance, assisting in the process of inviting new employees and bidding goodbye to departing ones, offering a secure online platform for saving employees' files, and providing assistance for work permit procedures in case your workers need help in that location.

HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, total employment expenses distributed per area, total work costs per cycle and far more.

environments across the globe I offered management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and building external relationships supporting Business clients and services as well as functioning as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments

As an international company, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have actually constantly mesmerized me.

payroll payments and decided 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 company side and also on the supplier side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I really 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 drizzling here it's extremely really bleak and I wish I was elsewhere 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 companies preserve different

bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical asset uh we'll likewise review a recap and that needs to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more typical and managing them ends up being a growing number of intricate Global organizations are looking to find Solutions and brand-new ways to simplify processes specifically from a payroll and cross-border payment perspective numerous organizations maintain different checking account just for payroll while some have several accounts in different nations does it make good sense for companies to maintain separate savings account in some cases in various nations it does but just for payroll exists a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business enhance the episode complex processes of

making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how business precisely anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate in one country but when you're doing it globally it's next level and Beyond it becomes complicated for a variety of reasons most notably regulations compliance information security and banking rules then there are the large numbers they add more complexity the worldwide Workforce is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing all over the world in the conventional payroll model there's typically a frustrating number of various systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in big quantities and or very really basic there's no genuine consistency framework 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 often with pen and paper and that simply blows my mind every time I I believe

about it to offer 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 offers me sleepless nights and quite honestly the more a company spends on global payroll the less of an image they see a lack of visibility likewise extends to payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal almost half of international businesses have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors inadequately communicated hires and terminations in addition to lack management and system setups and then when you round everything off and the information is delivered to the wrong place the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they rely on the necessary 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 obstacles business face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and state what is it what does not require to be consisted of best and what does

it require to be thought of 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 client's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is definitely vital but all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is allowing us to type of move on with that it also as well to add to that payroll and financing require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing teams work more detailed together than ever um I'm always impressed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of data 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 places a high worth on well-being and the settlement landscape is ending up being significantly intricate. Companies are continually introducing brand-new advantages and payment options, which adds to the total complexity. Big corporations frequently divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technologically sophisticated age, there's no reason for maintaining troublesome treatments. Payroll, the business's most significant cost, need to be processed correctly and on time. Even minor delays can adversely impact employees' well-being and have significant consequences. For that reason, it's crucial to prioritize accurate and prompt payments.

payroll group get um so I'm not sure anybody on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle all of us become aware of it when it fails everyone jumps up and down when it fails but when it goes right it's just 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 crucial that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment service is a fantastic initial step um offering an end-to-end payroll service for your staff members globally once again I believe is another huge um procedure again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of organizations and decreasing the number of tools platforms and bank accounts they require for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I don't believe any of us are actually doing that for for the thanks

anyway we understand 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 involved in those processes and also so picture sorry I'm simply I was simply gon na state think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing job 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 need days of the week to attempt to check out them and actually see what was going on and type of try to get back to everybody so moving on appearance why do companies pick to primary separate bank accounts there are businesses out there doing precisely this for specific countries and I've operated in a service or many organizations doing precisely that I can state it doesn't always feel effective and it does create more work I understand we're not purposely doing that we're not producing additional work for anybody where we don't need to and anybody that's dealing with 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 quantity that we are I think many factors one is it's the standard I think people have got so utilized to we need a brand-new bank account we open an entity and appropriately so you require 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 standard and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I believe this is a process that needs looking at it needs changing but ultimately people are very stuck with what they're familiar

with best um change is a tough thing we all do not like modification um so I think it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having maintaining numerous savings account but there's a big quantity of complexity opts for setting up a bank account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for private individuals so the complexity is big however I think the truthful answer is modification um people haven't been able to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to change but 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 know what could practically be determined to be the next Century approximately there is a lot to keep an eye on and this technique does present several obstacles um so Johnny could 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 International staff members you should have a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you

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