Find out more about Papaya Global Payroll Problems ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a secure and reputable approach of paying to our 10,000 employees worldwide.}
The cutting-edge international payroll management app improves my payroll process, conserving me a considerable amount of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
Employee Website
Employees have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to global employees no matter the number of workers in the company. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages service providers in every country, create local accounts and have a minimum number of staff members.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total employment expenses dispersed per place, total employment costs per cycle and a lot more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business managing and structure external relationships supporting Enterprise clients and services in addition to serving as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential business on the planet we provide payroll payments and workforce management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon good night depending on where you remain in the world it's lovely to fulfill you and thank you quite 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 ten years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually kind of had a range of different functions on the provider side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be quite 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 originates from and I actually 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 dreary and I wish I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is especially useful for worldwide organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate savings account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic possession for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time throughout this webinar we'll walk you through the worldwide 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 International payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in sufficient in one country but when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most importantly regulations compliance data security and banking rules then there are the sheer numbers they include further complexity the global Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll model there's frequently an overwhelming variety of different systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in large amounts and or extremely extremely basic there's no genuine 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 and that simply blows my mind whenever I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite frankly the more a company spends on global payroll the less of a photo they see an absence of presence also encompasses payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide organizations have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors improperly communicated hires and terminations along with absence management and system configurations and after that when you round it all off and the data is shipped to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they depend on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges service face when they're making payments to workers or otherwise that's a great concern I always toss this back and state what is it what doesn't require to be included right and what does
it need 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 amount of time 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 client's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is definitely vital but all over you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a 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 definitely basic and innovation is enabling us to sort of progress with that it also also to add to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup procedures is absolutely vital that payroll and financing teams work more detailed together than ever um I'm always astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate 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 typically 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 anywhere they are however also paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on well-being and the settlement landscape is ending up being significantly detailed. Businesses are continually introducing brand-new advantages and payment choices, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into separate teams, which can result in inefficiencies and bottlenecks. In my opinion, this does not have to be the case. In today's technically advanced age, there's no validation for keeping troublesome treatments. Payroll, the business's greatest expenditure, need to be processed properly and on time. Even small delays can negatively affect employees' well-being and have far-reaching consequences. Therefore, it's vital to prioritize precise and prompt payments.
payroll group get um so I'm uncertain anyone on this kind 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 employees or not um but ultimately payroll is such an essential cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done correctly so leveraging the very first International Payments very first payroll payment solution is a fantastic initial step um offering an end-to-end payroll solution for your employees globally again I believe is another substantial um process again aligning and ensuring you have standardization Global procedures all of those things are absolutely essential to success success of companies and minimizing the number of tools platforms and bank accounts they need for their Global 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've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 everyone that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na say imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and in fact see what was going on and type of shot to get back to everybody so carrying on appearance why do business choose to primary separate savings account there are organizations out there doing precisely this for particular countries and I have actually operated in a company or many organizations doing exactly that I can say it does not constantly feel effective and it does produce more work I know we're not intentionally doing that we're not creating additional work for anyone where we do not have to and anybody that's handling 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 quantity that we are I believe numerous reasons one is it's the requirement I think people have got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I believe this is a process that needs looking at it needs altering however eventually people are very stuck with what they recognize
with ideal um modification is a tough thing all of us don't like modification um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having keeping multiple bank accounts but there's a huge quantity of intricacy goes with establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for individual people so the complexity is big however I think the truthful response is change um people have not been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to alter however we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century or two there is a lot to track and this method does present several obstacles um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I just 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 workers you are worthy of a corner office 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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