Find out more about Papaya Global Saint Martin ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a protected and dependable approach of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
The Staff member Website offers staff members with the capability to access and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to international workers regardless of the number of employees in the company. The company can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages providers in every country, create regional accounts and have a minimum number of employees.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, total employment expenses distributed per area, overall employment costs per cycle and much 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 strategies for as Mark stated I work throughout business managing and structure external relationships supporting Enterprise clients and solutions as well as serving as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
company to make the time 100 list for many influential business in the world we offer payroll payments and labor force management to all staff member types in 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 introduce yourself obviously thank you good morning great afternoon excellent evening depending upon where you remain in the world it's charming 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've remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've type of had a variety of different functions on the provider side and also on the vendor side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days 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 type of like see where everyone originates from and I truly do hope it's much sunnier than it is 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 really dreary and I wish I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why business keep different
savings account 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 property uh we'll also go over a recap which must leave his time at the extremely very 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 become increasingly more typical and handling them ends up being a growing number of complex International companies are aiming to discover Solutions and brand-new ways to simplify procedures specifically from a payroll and cross-border payment perspective lots of organizations keep different savings account just for payroll while some have multiple accounts in different countries does it make sense for companies to maintain different bank accounts often in different nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies improve the episode complex processes of
making payroll payments accurately efficiently safely and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient in one nation however when you're doing it globally it's next level and Beyond it becomes complicated for a range of factors most significantly policies compliance data security and banking rules then there are the sheer numbers they add further intricacy the global Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people 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 around the world in the conventional payroll model there's frequently an overwhelming variety of various systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely really standard there's no genuine consistency framework we're residing in a period 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 frequently with pen and paper and that simply blows my mind every time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more an organization invests in global payroll the less of a photo they see an absence of exposure also encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of international services have revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry mistakes badly communicated hires and terminations in addition to absence management and system setups and then when you round everything off and the information is shipped to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they rely on the necessary several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties service face when they're making payments to workers or otherwise that's an excellent question I always toss this back and state what is it what doesn't require to be consisted of right and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities 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 client's own in-country account so there's intricacy anywhere you look ideal eventually building a knowledge base is definitely critical but all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and innovation is allowing us to kind of move on with that it also as well to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely important that payroll and financing teams work better together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately 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 contemporary world places a high value on wellness and the payment landscape is ending up being increasingly complex. Organizations are continuously presenting new advantages and payment alternatives, which contributes to the general complexity. Big corporations frequently divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my opinion, this does not have to be the case. In today's technically advanced era, there's no justification for preserving troublesome treatments. Payroll, the company's greatest expenditure, must be processed correctly and on time. Even small delays can negatively impact workers' well-being and have significant effects. For that reason, it's important to prioritize accurate and prompt payments.
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just notice when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's perceived externally too. Therefore, it is essential to ensure that jobs like Wi-Fi Global and other vital matters are done correctly. Using the very first Global Payments first payroll payment solution is a fantastic initial step towards providing an extensive payroll solution for employees worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and bank accounts needed for global payroll are crucial consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as planned. Eventually, we don't do it for the thankfulness.
anyhow we know how how essential a role 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 everybody that's associated with those procedures and likewise so think of sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job trying to clean all those up for sure oh absolutely 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 browse them and really see what was going on and sort of try to get back to everybody so proceeding appearance why do business pick to main separate bank accounts there are companies out there doing precisely this for particular nations and I've worked in a business or lots of services doing precisely that I can say it does not always feel efficient and it does create more work I know we're not deliberately doing that we're not producing extra work for anybody where we don't have to and any person that's managing that procedure 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 lots of reasons one is it's the requirement I believe individuals have got so used to we need a new savings account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I think this is a procedure that requires looking at it needs altering however ultimately individuals are extremely stuck with what they're familiar
with best um modification is a tough thing all of us do not like modification um so I believe it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having maintaining multiple bank accounts however there's a big amount of complexity chooses establishing a bank account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the complexity is substantial but I believe the truthful response is modification um people haven't had the ability to alter or have not had always the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might almost be identified to be the next Century approximately there is a lot to monitor and this method does present numerous difficulties um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you should have a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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