Find out more about Papaya Global Discount Code ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and trustworthy approach of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Employee Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and work documents. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to global employees no matter the variety of employees in the business. The business can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source regional benefits suppliers in every nation, create local accounts and have a minimum number of workers.
The HR abilities offered by International HR encompass different functions such as keeping an eye on trip time, guaranteeing compliance, helping with the process of welcoming new staff members and bidding farewell to departing ones, using a safe online platform for storing workers' files, and supplying assistance for work permit procedures in case your workers need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, total work expenses dispersed per area, total work costs per cycle and much more.
environments across the globe I provided 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 said I work throughout business handling and structure external relationships supporting Enterprise customers and options along with acting as an advisor for those of you that don't understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for many prominent companies worldwide we offer payroll payments and workforce management to all worker key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon good 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 10 years and specifically working on the payroll and payment sector for over seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually sort of had a variety of various functions on the company side and likewise on the vendor side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting 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 comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really dreary and I wish I was elsewhere at this moment in time alright so let's get started 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 separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a strategic possession uh we'll also go over a wrap-up which needs to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being increasingly more typical and managing them becomes a growing number of intricate Worldwide companies are wanting to discover Solutions and new ways to streamline procedures particularly from a payroll and cross-border payment perspective lots of companies maintain different bank account just for payroll while some have several accounts in various countries does it make good sense for business to preserve separate savings account often in various countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies streamline the episode complex procedures of
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business properly anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of factors most significantly guidelines compliance information security and banking rules then there are the large numbers they include additional intricacy the global Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people 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 around the world in the standard payroll model there's often an overwhelming number of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or really very standard there's no genuine consistency framework we're living in an era of tech however payroll has actually been slow 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 whenever I I believe
about it to give 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 gives me sleep deprived nights and quite frankly the more a business spends on global payroll the less of a picture they see a lack of exposure likewise reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide services 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 poor HCM information information entry mistakes improperly interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the information is delivered to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they rely on the required several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges organization face when they're paying to staff members or otherwise that's a good question I always toss this back and state what is it what does not require to be included ideal 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 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 have to pay from the customer's own in-country account so there's intricacy any place you look right eventually developing a knowledge base is definitely critical however everywhere you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is allowing us to kind of move on with that it likewise also to add to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely vital that payroll and finance teams work closer together than ever um I'm always surprised when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation 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 process it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of important to contribute to type of the level of intricacy there's increasingly more benefits being organ or being offered by businesses throughout the world so once again you're just wanting to include more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine obstacles or real difficult kind of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a number of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we require to develop additional handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and a period that you know that we are operating in today there is no reason why we are still making this as challenging as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any company has from a cost viewpoint from an effect point of view on staff members it is definitely crucial that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive effect on individuals's well-being and numerous other elements if individuals aren't paid uh I have actually always been impressed entering this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this kind of webinar has been told 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 employees or not um however ultimately payroll is such an essential cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment service is an excellent primary step um supplying an end-to-end payroll service for your employees globally again I think is another huge um procedure once again aligning and ensuring you have standardization Global processes all of those things are absolutely essential to success success of businesses and reducing the variety of tools platforms and checking account 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've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone quite where they're implied to be um I don't think any of us are in fact doing that for for the thanks
anyway we understand how how essential 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 everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na say imagine the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task trying 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 attempt to browse them and actually see what was going on and kind of try to get back to everybody so proceeding look why do business pick to main different checking account there are businesses out there doing exactly this for specific nations and I have actually worked in an organization or numerous businesses doing exactly that I can say it doesn't always feel efficient and it does produce more work I understand we're not intentionally doing that we're not producing extra work for anyone where we do not have to and any person 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 lots of reasons one is it's the requirement I think individuals have actually got so used to we need a new checking account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I believe this is a process that needs looking at it needs altering however ultimately individuals are really stuck with what they're familiar
with ideal um modification is a challenging thing all of us do not like modification um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having preserving multiple bank accounts but there's a big quantity of intricacy opts for setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is big however I believe the sincere answer is modification um individuals haven't been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to keep track of and this technique does position a number of challenges 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 Enterprise 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 are worthy of 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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