Find out more about Papaya Global Samoa ... 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 obtained a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and trusted technique of paying to our 10,000 workers worldwide.}
The advanced global payroll management app enhances my payroll procedure, saving me a substantial quantity of time each month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Employee Website provides workers with the capability to access and view important documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global helps business use competitive benefits plans to international staff members regardless of the variety of workers in the company. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source local advantages service providers in every country, develop local accounts and have a minimum number of workers.
The HR capabilities offered by Worldwide HR incorporate different functions such as keeping an eye on trip time, ensuring compliance, helping with the procedure of inviting brand-new employees and bidding goodbye to leaving ones, using a safe and secure online platform for keeping employees' files, and offering support for work permit treatments in case your staff members require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, total work costs distributed per area, overall employment expenses per cycle and far more.
environments around the world I provided management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout business managing and building external relationships supporting Business clients and services along with serving as an advisor for those of you that don't know who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for a lot of prominent companies in the world we offer payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent night depending upon where you are 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 have actually been in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I've sort of had a variety of different functions on the provider side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply provide everybody another couple of uh well among 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 currently simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it is 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 really bleak and I wish I was somewhere else at this moment in time fine so let's start 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 business keep different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a tactical possession uh we'll likewise go over a recap and that should leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more typical and handling them ends up being a growing number of intricate International organizations are wanting to find Solutions and new methods to enhance procedures particularly from a payroll and cross-border payment viewpoint lots of organizations preserve different checking account just for payroll while some have multiple accounts in various countries does it make good sense for business to maintain separate bank accounts often in different countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business enhance the episode complex processes of
making payroll payments properly efficiently safely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in adequate in one nation but when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of factors most significantly policies compliance data security and banking rules then there are the large numbers they include further intricacy the international Workforce is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing worldwide in the traditional payroll model there's typically a frustrating number of different systems leading to lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or really very standard there's no real consistency structure we're residing in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind each time 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 state they have Workforce data in real time that's another number that gives me sleep deprived nights and rather honestly the more an organization spends on worldwide payroll the less of a photo they see a lack of presence also encompasses payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal almost half of worldwide businesses have actually revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes inadequately communicated hires and terminations as well as lack management and system setups and after that when you round it all off and the information is shipped to the wrong place the average cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they count on the essential multiple 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 obstacles service face when they're paying to workers or otherwise that's a good concern I always throw this back and say what is it what does not need to be consisted of best and what does
it require to be considered 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 have to pay from the client's own in-country account so there's intricacy anywhere you look right eventually developing a knowledge base is absolutely crucial 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 sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is permitting us to kind of progress with that it also too to add to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely imperative that payroll and finance teams work closer together than ever um I'm always amazed when people say I've split payroll and payment um if you stroll down the street and asked anybody 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 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 process it's the point of data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of important to add to sort of the level of complexity there's increasingly more advantages being organ or being provided by companies across the world so once again you're just aiming to add more and more payments to this already complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real difficulties or genuine difficult kind of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a couple of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding details into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to create extra handoffs at the same times that we operate in they just make them more timely they make them less effective and they do not make them what they need to be in in an age of tech and an era that you understand 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 greatest liability that any company has from an expense viewpoint from an effect viewpoint on employees it is absolutely important that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging effect on people's well-being and lots of other factors if people aren't paid uh I have actually always been surprised coming into this Market kind of the last five to ten years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just notice when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's viewed externally also. Therefore, it is important to guarantee that jobs like Wi-Fi Global and other crucial matters are done correctly. Using the very first Worldwide Payments first payroll payment solution is a fantastic initial step towards offering a thorough payroll option for staff members worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and savings account necessary for global payroll are key consider accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyhow we know how how important a function 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 associated with those processes and also so think of sorry I'm just I was just gon na state think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task attempting to clean 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 need days of the week to attempt to browse them and in fact see what was going on and sort of shot to get back to everyone so moving on look why do companies pick to primary separate savings account there are services out there doing precisely this for particular countries and I have actually operated in a service or numerous services doing exactly that I can say it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not creating additional work for anyone where we don't need to and anyone 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 believe lots of factors one is it's the standard I believe individuals have got so used to we need a brand-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 just been the requirement and the norm the people have embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I believe this is a process that needs taking a look at it needs altering however eventually individuals are extremely stuck with what they recognize
with best um change is a hard thing we all don't like modification um so I think it's simply kind 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 advantages of having keeping numerous bank accounts however there's a substantial amount of complexity goes with setting up a savings account preserving it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific individuals so the intricacy is big but I think the honest response is change um individuals haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we have actually 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 might practically be figured out to be the next Century approximately there is a lot to keep track of and this method does pose a number of challenges um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I simply did you changed our Business 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 Worldwide workers you deserve a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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