Find out more about Papaya Global Hr Software For Startups On A Budget ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and dependable method of paying to our 10,000 workers worldwide.}
The innovative international payroll management app streamlines my payroll process, saving me a substantial quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Worker Website
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive benefits plans to international staff members regardless of the number of workers in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits suppliers in every nation, create regional accounts and have a minimum number of workers.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses dispersed per place, total work expenses per cycle and far more.
Internationally, I have actually demonstrated leadership and tactical competence in directing large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for managing payroll methods, as discussed by Mark. My role involves handling and developing external collaborations, supporting Enterprise customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for most influential business in the world we supply payroll payments and labor force management to all worker types in over 160 nations I am pleased to say 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 excellent evening depending upon where you are in the world it's lovely 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've been in the payments market for over ten years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've type of had a range of various roles on the supplier 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 everyone okay thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort 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 sunshine is it it's not no it's it's raining here it's really very dreary and I want I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business preserve different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical possession uh we'll also review a recap and that must leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of common and handling them becomes more and more complicated Worldwide companies are seeking to find Solutions and brand-new methods to enhance procedures specifically from a payroll and cross-border payment viewpoint lots of companies maintain separate bank account just for payroll while some have several accounts in various nations does it make good sense for business to preserve different savings account in some cases in various countries it does however just for payroll exists a better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international business simplify the episode complex processes of
Ensuring accurate, efficient, and prompt payroll payments is a complex obstacle for services running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to enhance working capital, and discover how simplifying worldwide payroll payments can transform them from a challenging job into a strategic asset.
Handling payroll internationally is a difficult task due to different regulations, compliance requirements, information security issues, and banking guidelines. The large number of workers and companies contributes to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. In spite of living in an age of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to provide insights and options to streamline and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more a service invests in worldwide payroll the less of a picture they see an absence of presence also reaches payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of global services have revealed that they don't 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 badly interacted hires and terminations along with absence management and system configurations and then when you round it all off and the data is shipped to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments don't run efficiently if they count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties company face when they're paying to staff members or otherwise that's a great question I always toss this back and say what is it what does not need to be included right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 complexity any place you look best eventually constructing a knowledge base is absolutely vital however all over you look with payroll payment they resemble extremely payments no if but some infants 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 absolutely basic and innovation is permitting us to kind of move on with that it also too to add to that payroll and financing require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and financing groups work closer together than ever um I'm constantly amazed 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 calculation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on wellness and the settlement landscape is ending up being increasingly elaborate. Companies are continually presenting brand-new benefits and payment options, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't have to hold true. In today's highly innovative age, there's no justification for keeping cumbersome treatments. Payroll, the company's biggest cost, must be processed properly and on time. Even minor delays can adversely impact staff members' well-being and have significant consequences. Therefore, it's vital to focus on precise and timely payments.
payroll group get um so I'm not sure anybody on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle all of us hear about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely vital that all of this things is done properly so leveraging the very first International Payments first payroll payment option is a terrific primary step um supplying an end-to-end payroll option for your staff members worldwide again I think is another substantial um procedure once again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely crucial to success success of businesses and decreasing the variety of tools platforms and checking account 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 have actually never had a hundred countless them within a payroll cycle don't anticipate 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 rather where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyway we know how how crucial a function it is and that'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 think of sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions think of getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and really see what was going on and kind of try to return to everyone so moving on appearance why do companies choose to primary different checking account there are services out there doing exactly this for particular countries and I've operated in a company or numerous businesses doing exactly that I can state it doesn't constantly feel efficient and it does create more work I know we're not intentionally doing that we're not creating additional work for anybody where we don't need to and anybody that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the standard I think individuals have got so utilized to we need 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 think it's simply been the standard 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 ways um to to sort of do it so I think there's a range I think this is a procedure that needs looking at it requires changing however ultimately individuals are extremely stuck with what they're familiar
with ideal um modification is a tough thing all of us don't like modification um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having keeping several savings account however there's a big amount of intricacy chooses establishing a savings account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for individual people so the intricacy is huge however I think the sincere answer is modification um people have not been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what could nearly be determined to be the next Century or two there is a lot to keep track of and this method does pose a number of obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a range right there is so
I just 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 improved ability, I have effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your achievements.
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