Find out more about Papaya Global Tel Aviv Office ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and trustworthy approach of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive advantages packages to international staff members despite the variety of employees in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the requirement to source regional advantages suppliers in every country, produce local accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall employment costs distributed per place, overall work expenses per cycle and a lot more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work across business handling and structure external relationships supporting Enterprise clients and solutions as well as acting as an advisor for those of you that do not understand who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for most prominent business worldwide we provide payroll payments and workforce management to all worker types in over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon great evening depending on where you remain in the world it's charming 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 working on the payroll and payment sector for over 7 years um I was amazed by the complexity the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually kind of had a variety of various roles on the service provider side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently just 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 is in the UK today certainly not the peak of the sunlight 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 okay so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies preserve separate
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is especially useful for global organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of keeping different savings account for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately forecast their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in adequate in one country however when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of reasons most importantly regulations compliance data security and banking rules then there are the large numbers they add more complexity the worldwide Workforce is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing all over the world in the standard payroll design there's frequently a frustrating variety of various systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or extremely very fundamental there's no genuine consistency structure we're living in a period 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 which just blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more a company invests in global payroll the less of an image they see an absence of exposure likewise extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide services have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors poorly interacted hires and terminations as well as absence management and system configurations and then when you round all of it off and the information is delivered to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they depend on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles organization face when they're making payments to staff members or otherwise that's a good concern I always toss this back and state what is it what does not require to be consisted of 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 nation there's payment time frames there's payment abilities 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 anywhere you look right ultimately building a knowledge base is absolutely important but everywhere you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link in 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 enabling us to kind of move forward with that it also too to contribute to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely vital that payroll and finance teams work better together than ever um I'm always astonished when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession 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 frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on well-being and the payment landscape is ending up being progressively complex. Companies are continuously introducing brand-new advantages and payment options, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's highly advanced era, there's no validation for keeping cumbersome procedures. Payroll, the company's greatest expenditure, must be processed properly and on time. Even slight hold-ups can negatively impact staff members' wellness and have significant repercussions. Therefore, it's critical to focus on accurate and timely payments.
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people only notice when things go wrong. However, when things go right, it's viewed as simply a routine task. This is how it's viewed externally also. Therefore, it is essential to guarantee that jobs like Wi-Fi International and other important matters are done properly. Utilizing the very first Global Payments very first payroll payment solution is a great preliminary action towards supplying a comprehensive payroll option for staff members worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and bank accounts necessary for international payroll are key consider attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things don't go as planned. Eventually, we don't do it for the appreciation.
anyhow we understand 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 everybody that's involved in those processes and also so imagine sorry I'm just I was just gon na say picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely 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 require days of the week to try to browse them and in fact see what was going on and kind of try to get back to everyone so moving on appearance why do companies choose to primary separate bank accounts there are services out there doing exactly this for particular countries and I have actually worked in a service or numerous companies doing exactly that I can state it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating extra work for anyone where we do not need to and anyone that's dealing with that process 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 numerous factors one is it's the requirement I believe individuals have got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I believe this is a process that needs looking at it requires changing however eventually people are really stuck to what they recognize
with ideal um modification is a challenging thing we all don't like change um so I think it's just type of moving far 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 preserving several savings account however there's a huge quantity of complexity opts for establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the right user accesses for specific individuals so the intricacy is substantial but I think the sincere answer is change um people haven't had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we've constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to track and this technique does position numerous obstacles um so Johnny could you inform us about those challenges yeah naturally so there's a variety right there is so
I simply did you changed 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 workers you should have a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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