Find out more about Papaya Global Austin Tx Address ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a secure and trusted method of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Employee Website
Staff members have access to a Worker Website where they can see their pay slips, wage and tax statements and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive advantages plans to global workers no matter the variety of employees in the company. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local advantages suppliers in every country, produce local accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall employment costs distributed per place, overall work expenses per cycle and a lot more.
environments around the world I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout business managing and structure external relationships supporting Business clients and options in addition to acting as a consultant for those of you that don't know who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for the majority of influential business in the world we provide payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent night depending on where you are in the world it's beautiful to satisfy 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 have actually been in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was interested 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 5 or 6 years where I have actually kind of had a range of various functions on the provider side and likewise on the vendor side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very uninspiring and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially beneficial for international companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies properly forecast their payroll expenses 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 difficult in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of reasons most significantly policies compliance information security and banking rules then there are the large numbers they include more complexity the global Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll model there's often an overwhelming variety of different systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in large amounts and or extremely really basic there's no real consistency framework we're residing in a period 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 frequently with pen and paper which simply blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more a service spends on worldwide payroll the less of a photo they see a lack of exposure likewise encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of global services 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 poor HCM information information entry mistakes inadequately communicated hires and terminations along with absence management and system setups and after that when you round all of it off and the data is shipped to the wrong location the typical cost of a worldwide information 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 needed numerous 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 difficulties company face when they're making payments to employees or otherwise that's a good concern I constantly toss this back and state what is it what doesn't require to be consisted of best and what does
it require 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 need to pay from the customer's own in-country account so there's complexity wherever you look ideal eventually building a knowledge base is absolutely important but all over you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to kind of progress with that it also also to add to that payroll and finance require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the compensation landscape is becoming progressively detailed. Companies are continually introducing new advantages and payment options, which contributes to the total complexity. Large corporations typically divide their payroll and payment processing into different teams, which can result in inadequacies and traffic jams. In my opinion, this does not need to be the case. In today's highly sophisticated period, there's no justification for preserving cumbersome procedures. Payroll, the business's greatest expense, need to be processed properly and on time. Even small delays can negatively affect workers' well-being and have significant effects. For that reason, it's important to prioritize precise and prompt payments.
payroll group get um so I'm uncertain anybody on this kind of webinar has actually been told 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 however eventually payroll is such a crucial cycle we all hear about it when it goes wrong 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 view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done properly so leveraging the very first International Payments first payroll payment option is an excellent first step um providing an end-to-end payroll solution for your staff members worldwide once again I believe is another huge um procedure once again aligning and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of companies and reducing the number of tools platforms and checking account they require for their Global 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've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how crucial 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 procedures and also so imagine sorry I'm simply I was just gon na state think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of try to return to everybody so proceeding appearance why do business choose to primary different bank accounts there are businesses out there doing precisely this for specific nations and I have actually operated in a business or lots of services doing precisely that I can state it doesn't always feel efficient and it does create more work I know we're not intentionally doing that we're not developing additional work for anybody where we do not need to and anybody that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the requirement I believe people have actually got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll functions 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 individuals have looked at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I believe this is a process that needs taking a look at it requires altering but eventually people are extremely stuck to what they're familiar
with right um change is a difficult thing we all don't like change um so I believe it's simply sort 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 obviously the benefits of having keeping numerous savings account but there's a big amount of complexity goes with establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the complexity is huge however I believe the truthful response is change um people haven't had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change but we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century or two there is a lot to keep an eye on and this technique does present several challenges um so Johnny might you tell us about those difficulties yeah naturally so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gained another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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