Find out more about Papaya Global Payroll Linkedin ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and secure and dependable approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Employee Portal
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive benefits plans to global workers regardless of the number of workers in the company. The business can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the need to source local benefits providers in every nation, create regional accounts and have a minimum number of employees.
The HR capabilities provided by International HR encompass numerous functions such as keeping an eye on holiday time, guaranteeing compliance, helping with the procedure of inviting new staff members and bidding farewell to leaving ones, using a safe online platform for keeping workers' files, and supplying assistance for work permit procedures in case your staff members need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, overall work costs dispersed per location, total employment expenses per cycle and far more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business handling and structure external relationships supporting Enterprise customers and solutions along with functioning as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many influential companies worldwide we supply payroll payments and labor force management to all employee key ins 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 introduce yourself naturally thank you good morning excellent afternoon good night depending upon where you remain in the world it's beautiful to meet 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 ten years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually type of had a range of different functions on the service provider side and also on the supplier side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting 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 everybody comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really really bleak and I wish I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll likewise review a wrap-up which ought to leave his time at the very really end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more common and managing them ends up being a growing number of complex Global companies are aiming to find Solutions and new ways to enhance procedures specifically from a payroll and cross-border payment perspective numerous companies maintain different savings account just for payroll while some have several accounts in different nations does it make sense for business to maintain separate savings account in some cases in various nations it does but just for payroll is there a better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies simplify the episode complex processes of
making payroll payments precisely effectively securely and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how business precisely anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one nation however when you're doing it internationally it's next level and Beyond it becomes complicated for a range of factors most notably regulations compliance data security and banking rules then there are the large numbers they include additional complexity the worldwide Labor force is presently 3 and a half billion individuals 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 services and growing all doing their own thing worldwide in the standard payroll design there's frequently a frustrating number of various systems causing time-consuming manual processes and silos the variety of Combinations could be non-existent in big quantities and or very very fundamental there's no real consistency structure we're residing in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in global payroll the less of a photo they see a lack of presence likewise extends to payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide businesses have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors badly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the data is shipped to the incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they rely on the essential several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're paying to workers or otherwise that's a great concern I constantly throw this back and say what is it what doesn't need to be consisted of ideal and what does
it need to be considered there's varying 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 wherever you look right eventually constructing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a 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 definitely basic and innovation is allowing us to type of move on with that it likewise also to contribute to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely essential that payroll and finance groups work more detailed together than ever um I'm always astonished when people state I've divided 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 an industry accept that why our payroll and payments so frequently split and cut up um ultimately 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 but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of important to add to type of the level of complexity there's more and more advantages being organ or being provided by businesses across the world so once again you're simply aiming to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine challenges or real challenging type of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would absolutely state that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding details into the next function as it were that's actually handling the payment side of things however you understand 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 produce extra handoffs at the same times that we run 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 a period that you understand that we are operating in today there is no reason we are still making this as hard as it requires to be concurred and rightly as you said payroll is the single most significant liability that any company has from an expense viewpoint from an impact viewpoint on workers it is definitely important that it's done properly and on time so what we mean 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 detrimental impact on people's well-being and many other elements if individuals aren't paid uh I've constantly been impressed coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll during 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 an important cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's viewed externally as well. For that reason, it is essential to guarantee that tasks like Wi-Fi International and other essential matters are done properly. Using the first Worldwide Payments first payroll payment solution is a great initial action towards offering a thorough payroll service for employees worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and checking account needed for international payroll are key factors in achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyhow we understand 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 easy as possible for everybody that's involved in those processes and also so think of sorry I'm just I was just gon na state picture the quantity 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 imagine getting that many 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 an intriguing job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and sort of try to return to everybody so carrying on look why do business select to main different savings account there are organizations out there doing precisely this for specific nations and I have actually operated in a service or numerous organizations doing exactly that I can say it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for anybody where we don't have to and any person that's handling 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 amount that we are I think numerous factors one is it's the standard I think individuals have got so utilized to we require a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I think this is a process that requires looking at it needs changing however ultimately people are really stuck to what they're familiar
with best um change is a challenging thing all of us do not like change um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having maintaining numerous savings account however there's a huge quantity of complexity opts for establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for individual individuals so the complexity is big but I believe the sincere answer is change um people have not had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to change however 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 know what could nearly be figured out to be the next Century or so there is a lot to monitor and this technique does pose numerous difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I simply did you switched 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 Worldwide employees you are worthy of a corner office with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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