Find out more about Papaya Global Payroll For Small Business ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and secure and dependable technique of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, saving me a significant amount of time every month. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
Staff member Portal
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work documents. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive benefits bundles to worldwide employees regardless of the variety of employees in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the need to source regional advantages companies in every nation, develop 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 employees' files and immigration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall work expenses dispersed per area, total work expenses per cycle and a lot more.
environments around the world I offered management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and building external relationships supporting Business clients and solutions in addition to acting as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for the majority of influential business in the world we supply payroll payments and labor force management to all employee enters over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon good night depending on where you remain in the world it's beautiful to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually kind of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just provide 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 type of let them do that so it 'd be rather fascinating 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 everybody originates from and I really 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 extremely very gloomy and I want I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll likewise discuss a wrap-up which should leave his time at the very very end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces become increasingly more common and managing them becomes a growing number of intricate International companies are aiming to find Solutions and brand-new methods to streamline processes particularly from a payroll and cross-border payment standpoint numerous organizations keep different savings account just for payroll while some have numerous accounts in various nations does it make sense for companies to maintain different checking account often in different nations it does but just for payroll exists a much better method what role do virtual accounts and digital wallets also called virtual wallets play in helping international companies simplify the episode complex processes of
Guaranteeing accurate, effective, and timely payroll payments is a complex challenge for companies operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, find out how companies forecast payroll costs to enhance working capital, and discover how improving worldwide payroll payments can transform them from a burdensome task into a tactical possession.
Handling payroll internationally is a difficult task due to different policies, compliance requirements, data security concerns, and banking guidelines. The sheer variety of employees and businesses adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems typically lead to manual processes, information silos, and an absence of integration, causing disparities and inadequacies. Regardless of living in an age of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to provide insights and solutions to streamline and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more an organization spends on global payroll the less of an image they see a lack of visibility likewise reaches payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the transaction nearly half of international services have expressed 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 because of time reporting bad HCM data information entry errors poorly 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 place the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they count on the required multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're paying to employees or otherwise that's a great question I always toss this back and state what is it what doesn't need to be consisted of right 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 nation 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 need to pay from the customer's own in-country account so there's complexity anywhere you look right eventually developing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 essential and innovation is permitting us to type of move forward with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely necessary that payroll and finance teams work better together than ever um I'm constantly amazed when individuals 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 divide the payroll payment from estimation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more crucial to contribute to type of the level of intricacy there's a growing number of advantages being organ or being used by organizations across the world so again you're simply aiming to add more and more payments to this currently complex landscape so if you type of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine difficulties or real challenging kind of pay uses to play to pay people I think yeah I suggest over the last well yeah a couple of years I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to produce extra handoffs in the processes that we operate in they just make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and an era that you know that we are working in today there is no reason that we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any company has from an expense viewpoint from an impact perspective on staff members it is definitely crucial 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 need to be done right it has the greatest damaging effect on people's wellness and lots of other factors if individuals aren't paid uh I have actually always been amazed coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just notice when things fail. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally as well. Therefore, it is necessary to ensure that tasks like Wi-Fi Global and other important matters are done correctly. Using the first Worldwide Payments first payroll payment option is an excellent preliminary step towards providing an extensive payroll solution for employees worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and savings account required for international payroll are crucial consider attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyway we understand how how important 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 involved in those procedures and also so think of sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions picture getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing job attempting to clean up 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 require days of the week to try to look through them and in fact see what was going on and kind of try to get back to everyone so proceeding appearance why do business select to main separate bank accounts there are companies out there doing exactly this for particular countries and I've worked in a business or lots of businesses doing exactly that I can say it does not always feel effective and it does produce more work I understand we're not intentionally doing that we're not creating additional work for any person where we do not need to and any person 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 quantity that we are I believe lots of reasons one is it's the standard I believe individuals have got so utilized to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I believe this is a procedure that requires looking at it requires altering however eventually individuals are very stuck to what they recognize
with best um change is a hard thing all of us do not like change um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having maintaining several bank accounts but there's a big amount of complexity opts for setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for specific people so the intricacy is substantial however I believe the sincere answer is modification um people have not had the ability to alter or haven't had always the knowledge to really make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter however we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might practically be identified to be the next Century approximately there is a lot to keep an eye on and this technique does present numerous difficulties um so Johnny could you tell us about those challenges yeah obviously so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this enhanced capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your achievements.
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