Find out more about Papaya Global Hr Software For Efficient Payroll ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and reputable technique of making payments to our 10,000 staff members worldwide.}
The advanced global payroll management app simplifies my payroll process, conserving me a significant amount of time each month. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Worker Portal
Employees have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive advantages bundles to international employees no matter the variety of employees in the business. The company can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source local benefits suppliers in every country, create local accounts and have a minimum variety of workers.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total work expenses distributed per location, total employment costs per cycle and far more.
environments around the world I provided management and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work throughout the business handling and building external relationships supporting Enterprise clients and services along with serving as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for a lot of influential business worldwide we supply payroll payments and labor force management to all employee enters over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon good evening depending upon where you remain in the world it's lovely to fulfill 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 been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually type of had a variety of various functions on the company side and likewise on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everybody another couple of uh well among 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 intriguing and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really very bleak and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic property uh we'll also go over a wrap-up which should leave his time at the very really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more common and managing them ends up being increasingly more complex Worldwide companies are wanting to discover Solutions and new methods to improve processes specifically from a payroll and cross-border payment viewpoint lots of organizations maintain different savings account just for payroll while some have multiple accounts in different nations does it make good sense for companies to preserve different savings account sometimes in different nations it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies simplify the episode complex processes of
making payroll payments accurately efficiently safely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate in one nation however when you're doing it internationally it's next level and Beyond it becomes complex for a range of reasons most notably regulations compliance data security and banking guidelines then there are the sheer numbers they add further intricacy the worldwide Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing all over the world in the standard payroll model there's often an overwhelming number of various systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or very extremely basic there's no genuine consistency structure we're living in an age of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that gives me sleepless nights and rather honestly the more a business invests in worldwide payroll the less of a picture they see an absence of exposure also encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of global businesses have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors badly interacted hires and terminations in addition to absence management and system setups and after that when you round everything off and the data is shipped to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they count on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're making payments to staff members or otherwise that's a good question I always throw this back and say what is it what doesn't need to be included ideal 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 country there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy any place you look ideal ultimately building a knowledge base is definitely crucial but all over you look with payroll payment they resemble extremely payments no if however 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 definitely basic and innovation is allowing us to kind of move forward with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely crucial that payroll and finance teams work closer together than ever um I'm always surprised when people 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 estimation 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 wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on wellness and the settlement landscape is becoming progressively detailed. Companies are constantly introducing brand-new benefits and payment options, which adds to the overall intricacy. Big corporations often divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't need to be the case. In today's technically advanced age, there's no justification for keeping cumbersome treatments. Payroll, the business's greatest expense, should be processed properly and on time. Even small delays can adversely affect employees' well-being and have significant effects. Therefore, it's critical to prioritize precise and timely payments.
payroll group get um so I'm not sure anyone on this sort 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 employees or not um but eventually payroll is such an essential cycle all of us hear about it when it fails everybody 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 deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done correctly so leveraging the first Global Payments first payroll payment service is an excellent initial step um offering an end-to-end payroll service for your employees worldwide once again I think is another substantial um procedure again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of organizations and reducing the number of tools platforms and savings 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 have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand 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 easy as possible for everyone that's involved in those procedures and likewise so think of sorry I'm simply I was just gon na state think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions imagine getting that lots of 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 attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and really see what was going on and type of shot to return to everyone so moving on appearance why do business select to primary separate checking account there are organizations out there doing exactly this for particular nations and I have actually operated in a service or numerous companies doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I know we're not purposely doing that we're not producing extra work for anyone where we don't need to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many factors one is it's the requirement I believe individuals have actually got so utilized to we require a new checking account we open an entity and rightly 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 standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a variety I think this is a procedure that needs taking a look at it requires changing but ultimately individuals are extremely stuck to what they recognize
with right um modification is a hard thing all of us don't like modification um so I think it's just sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having keeping several checking account however there's a substantial quantity of complexity opts for establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific people so the intricacy is big but I think the truthful response is change um individuals have not been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to keep track of and this approach does pose a number of challenges um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is closer, considering your accomplishments.
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