Find out more about Papaya Global Payroll Onboarding ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to managing payments. This offers us with a protected and trusted method of making payments to our 10,000 staff members worldwide.}
The advanced global payroll management app improves my payroll procedure, saving me a significant amount of time each month. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Worker Website supplies workers with the capability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global helps companies offer competitive advantages plans to worldwide staff members despite the number of employees in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source regional benefits service providers in every country, develop local accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall work costs dispersed per place, total work costs per cycle and a lot more.
environments around the world I offered leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work across business handling and building external relationships supporting Business customers and options along with acting as an advisor for those of you that do not know who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for most influential business worldwide we supply payroll payments and labor force management to all employee 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 introduce yourself of course thank you good morning good afternoon great evening depending on where you remain in the world it's charming to meet 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 remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven 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 genuine go at that over the last 5 or six years where I have actually sort of had a range of various functions on the provider 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 everyone fine thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it remains 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 very uninspiring and I want I was elsewhere 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 Global payroll why companies maintain different
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is particularly helpful for worldwide organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one nation but when you're doing it internationally it's next level and Beyond it becomes complex for a range of reasons most significantly policies compliance data security and banking rules then there are the large numbers they add further complexity the worldwide Labor force is presently three and a half billion people by 2030 it's estimated 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 all over the world in the standard payroll design there's typically a frustrating variety of various systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in big quantities and or really really basic there's no genuine consistency framework we're residing in an era of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that offers me sleep deprived nights and rather honestly the more a company invests in global payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of worldwide companies have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors inadequately communicated hires and terminations as well as lack management and system configurations and then when you round everything off and the information is shipped to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they rely on the necessary multiple procedures 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 service face when they're paying to workers or otherwise that's a great question I always toss this back and say what is it what doesn't require to be consisted of ideal 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 capabilities 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 customer's own in-country account so there's intricacy anywhere you look right ultimately developing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble super payments no if but some children 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 technology is enabling us to sort of progress with that it likewise too to add to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is definitely crucial that payroll and finance teams work better together than ever um I'm always surprised when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work 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 typically 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 people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on well-being and the settlement landscape is becoming progressively detailed. Services are constantly introducing new benefits and payment choices, which contributes to the overall complexity. Large corporations frequently divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my viewpoint, this does not have to hold true. In today's highly sophisticated period, there's no justification for keeping cumbersome treatments. Payroll, the business's greatest cost, should be processed properly and on time. Even minor delays can negatively impact workers' wellness and have significant effects. For that reason, it's vital to prioritize precise and prompt payments.
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only notice when things fail. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally as well. Therefore, it is important to ensure that jobs like Wi-Fi Global and other essential matters are done correctly. Using the first International Payments very first payroll payment solution is a terrific preliminary step towards supplying an extensive payroll service for staff members worldwide. Standardization, international procedures, and lowering the number of tools, platforms, and savings account necessary for international payroll are key factors in achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as planned. Eventually, we do not do it for the appreciation.
anyhow we understand 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 easy as possible for everybody that's involved in those procedures and also so envision sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of 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 but it would certainly be a fascinating 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 attempt to check out them and actually see what was going on and sort of shot to get back to everybody so moving on appearance why do business select to main different savings account there are services out there doing precisely this for particular nations and I've operated in a company or many organizations doing precisely that I can say it doesn't constantly feel effective and it does produce more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not need to and anybody that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the standard I believe people have actually got so utilized to we require a new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I think this is a procedure that requires looking at it requires changing however eventually people are really stuck to what they recognize
with right um modification is a difficult thing we all don't like modification um so I think it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having maintaining numerous bank accounts however there's a substantial amount of intricacy chooses setting up a bank account maintaining it ensuring it can send International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is big however I think the truthful response is change um individuals have not been able to alter or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or two there is a lot to track and this method does present a number of difficulties um so Johnny might you tell us about those challenges yeah obviously so there's a variety 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 Global employees you are worthy of a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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