Papaya Global Payroll Questions

Find out more about Papaya Global Payroll Questions ... 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 dedicated to managing payments. This supplies us with a safe and dependable approach of making payments to our 10,000 workers worldwide.}

the very best international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors

The Staff member Portal offers employees with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in various languages.

Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to global employees no matter the number of employees in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source regional advantages suppliers in every nation, produce local accounts and have a minimum variety of employees.

Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work license assistance.

HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, total employment expenses dispersed per location, overall employment costs per cycle and much more.

Worldwide, I have actually demonstrated leadership and tactical expertise in directing large-scale populations of over 100,000 staff members across 170 nations. Presently, I are accountable for supervising payroll methods, as discussed by Mark. My role includes managing and developing external partnerships, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.

business to make the time 100 list for a lot of influential companies worldwide we provide payroll payments and workforce management to all employee types in 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 naturally thank you good morning excellent afternoon good night depending upon where you are in the world it's charming to satisfy 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 market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of

payroll payments and chose 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 various functions on the provider side and likewise on the supplier side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everybody another number 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 fascinating and I can see it going on already just to hear where everybody is um it's nice to to type 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 sunshine is it it's not no it's it's raining here it's really extremely dreary and I want I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies preserve separate

savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical possession uh we'll also go over a wrap-up and that ought to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of typical and handling them becomes increasingly more complicated Worldwide organizations are looking to find Solutions and brand-new methods to improve procedures especially from a payroll and cross-border payment viewpoint many organizations maintain separate savings account just for payroll while some have several accounts in various nations does it make sense for companies to keep separate checking account often in various countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies simplify the episode complex processes of

Ensuring accurate, efficient, and prompt payroll payments is a complex obstacle for services running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, learn how companies forecast payroll expenses to enhance working capital, and discover how streamlining worldwide payroll payments can change them from a challenging task into a strategic property.

Managing payroll globally is an overwhelming task due to various regulations, compliance requirements, data security concerns, and banking rules. The large number of staff members and services contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.

Conventional payroll systems often lead to manual processes, information silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. In spite of living in a period of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to provide insights and solutions to simplify and enhance global payroll payments.

about it to give you an idea 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 gives me sleep deprived nights and rather honestly the more a service invests in global payroll the less of an image they see a lack of presence likewise encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of international services have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry mistakes improperly interacted hires and terminations as well as lack management and system configurations and then when you round everything off and the data is delivered to the incorrect place the typical expense of a global information 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 do not run efficiently if they rely on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles organization face when they're paying to employees or otherwise that's a good question I always toss this back and state what is it what does not need to be included right and what does

it need to be thought about 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 have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy wherever you look ideal eventually constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they are like very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to kind of move on with that it also also to add to that payroll and financing require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely imperative that payroll and finance teams work better together than ever um I'm constantly amazed 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 occupation would they divide 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 wherever they are however likewise paying statutory authorities and on statutory third parties so with the

world we live in and wellness being increasingly more essential to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being used by services throughout the world so once again you're just looking to include a growing number of payments to this currently complex landscape so if you kind of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine challenges or real tough kind of pay utilizes to play to pay people I think yeah I mean over the last well yeah a couple of years I would certainly state that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding details into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce extra handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason that we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any business has from an expense viewpoint from an effect viewpoint on staff members it is definitely crucial that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the greatest damaging effect on people's well-being and numerous other factors if individuals aren't paid uh I've always been astonished entering into this Market kind of the last 5 to 10 years is how little thanks the

payroll team get um so I'm not exactly sure anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such a crucial cycle all of us hear about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box workout 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 important that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment solution is a fantastic initial step um supplying an end-to-end payroll option for your staff members globally once again I think is another substantial um process once again aligning and ensuring you have standardization Global processes all of those things are absolutely essential to success success of organizations and minimizing 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 terms of of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're suggested to be um I don't think any of us are really doing that for for the thanks

anyway we understand how how important 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 associated with those processes and likewise so think of sorry I'm just I was just gon na state think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job attempting to clean up all those up for sure oh definitely I can't envision 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 type of shot to return to everybody so moving on appearance why do business pick to main separate bank accounts there are businesses out there doing exactly this for specific nations and I've worked in a company or many businesses doing precisely that I can say it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating additional work for anybody where we don't need to and anybody 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 think many reasons one is it's the requirement I think people have got so utilized to we require a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have 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 kind of do it so I think there's a range I believe this is a process that requires taking a look at it requires altering but eventually individuals are very stuck to what they recognize

with ideal um change is a hard thing all of us don't like modification um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having keeping multiple bank accounts however there's a big quantity of intricacy opts for establishing a savings account keeping it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual people so the complexity is substantial but I believe the honest response is change um individuals haven't been able to change or haven't had always the understanding to truly make that change into alternate Solutions other than opening a checking account I think you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter however we've constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could practically be determined to be the next Century or so there is a lot to keep an eye on and this approach does posture numerous difficulties um so Johnny might you tell us about those challenges 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 employees you deserve a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you

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