Find out more about How To Set Up Papaya Global Payroll ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and secure and reputable approach of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
Worker Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive advantages bundles to global staff members no matter the variety of workers in the company. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source regional benefits providers in every nation, create local accounts and have a minimum variety of staff members.
The HR abilities offered by Global HR incorporate various functions such as keeping track of holiday time, ensuring compliance, facilitating the procedure of welcoming new workers and bidding farewell to leaving ones, providing a safe online platform for saving workers' files, and offering assistance for work permit procedures in case your staff members require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total employment expenses dispersed per place, overall work expenses per cycle and far more.
environments around the world I supplied leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across the business managing and structure external relationships supporting Business customers and services in addition to serving as a consultant for those of you that don't know who papaya International is papaya is the first payroll and payments
business to make the time 100 list for the majority of prominent companies worldwide we offer payroll payments and labor force management to all worker 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 obviously thank you good morning good afternoon good evening depending on 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 industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually sort of had a range of different roles on the supplier side and likewise on the supplier side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or two to join we all 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 sort of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really really dreary and I want I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll likewise go over a wrap-up and that needs to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being a growing number of typical and handling them ends up being more and more complex Worldwide companies are looking to find Solutions and brand-new ways to improve procedures specifically from a payroll and cross-border payment standpoint many organizations preserve different savings account just for payroll while some have multiple accounts in different nations does it make good sense for business to maintain separate bank accounts often in various nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business streamline the episode complex procedures of
Guaranteeing accurate, effective, and timely payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies anticipate payroll expenses to enhance working capital, and find how simplifying worldwide payroll payments can transform them from a burdensome job into a tactical asset.
Managing payroll worldwide is a difficult job due to various guidelines, compliance requirements, data security issues, and banking guidelines. The sheer number of staff members and businesses contributes to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems typically lead to manual processes, data silos, and a lack of integration, causing disparities and inadequacies. In spite of living in an age of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to offer insights and options to streamline and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more a service invests in international payroll the less of a picture they see a lack of exposure also encompasses payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of global businesses have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes poorly interacted hires and terminations along with absence management and system configurations and then when you round it all off and the data is delivered to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments don't run smoothly if they rely on the required several procedures 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 obstacles organization face when they're making payments to employees or otherwise that's a great concern I always throw this back and say what is it what does not require to be included ideal and what does
it need 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 timespan 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 right ultimately building a knowledge base is absolutely critical however all over you look with payroll payment they are like incredibly payments no if however some babies 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 acknowledgment that payroll payments are definitely essential and innovation is permitting us to type of progress with that it also as well to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and financing groups work better together than ever um I'm always astonished when individuals state I have actually 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 divide the payroll payment from computation 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of essential to add to kind of the level of intricacy there's more and more advantages being organ or being provided by services throughout the world so again you're simply wanting to include increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real obstacles or real challenging type of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would certainly say that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single greatest liability that any organization has from an expense viewpoint from an effect perspective on staff members it is definitely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest detrimental impact on people's wellness and lots of other elements if people aren't paid uh I've constantly been impressed entering this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not sure anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment service is an excellent first step um offering an end-to-end payroll option for your employees internationally again I believe is another substantial um process again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of businesses and decreasing the variety of tools platforms and checking account they need for their International 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 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 grievances where things have not gone quite where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how essential 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 everybody that's associated with those processes and also so picture sorry I'm just I was just gon na state envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job trying to clean all those up for sure oh definitely I can't imagine 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 in fact see what was going on and kind of try to return to everyone so proceeding appearance why do companies select to primary different checking account there are services out there doing exactly this for specific countries and I have actually worked in a company or many organizations doing exactly that I can say it does not constantly feel effective and it does develop more work I know we're not purposely doing that we're not producing extra work for anybody where we do not have to and any person that's dealing with 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 amount that we are I believe numerous reasons one is it's the requirement I think people have actually got so used to we require a brand-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 believe it's simply been the requirement and the norm the people have adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and many other methods um to to type of do it so I think there's a variety I believe this is a process that requires taking a look at it requires altering however ultimately individuals are extremely stuck to what they recognize
with ideal um modification is a difficult thing all of us do not like modification um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having preserving numerous bank accounts however there's a substantial quantity of complexity goes with establishing a checking account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for specific individuals so the intricacy is big but I believe the sincere answer is modification um individuals haven't been able to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century or two there is a lot to keep an eye on and this approach does present several difficulties 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 switched 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 Global employees you should have a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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