Find out more about Papaya Global Payroll Software Reviews ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and dependable method of paying to our 10,000 employees worldwide.}
The innovative worldwide payroll management app simplifies my payroll process, saving me a significant amount of time every month. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Worker Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and employment files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive advantages bundles to international staff members despite the variety of staff members in the business. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source local benefits providers in every country, produce regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment costs distributed per location, overall employment expenses per cycle and far more.
environments across the globe I provided management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout business managing and structure external relationships supporting Enterprise clients and services as well as functioning as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential companies in the world we offer payroll payments and labor force management to all worker types in over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon great evening depending upon where you are in the world it's charming 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've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I've kind of had a range of different functions on the provider side and also on the vendor side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I actually 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 extremely extremely gloomy and I want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why business keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya International payroll payments as a tactical asset uh we'll also review a wrap-up which should leave his time at the really 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 Global labor forces become increasingly more typical and handling them becomes increasingly more complex International organizations are looking to discover Solutions and new methods to simplify procedures especially from a payroll and cross-border payment standpoint many companies keep separate savings account just for payroll while some have several accounts in different countries does it make good sense for business to preserve separate checking account sometimes in various nations it does however just for payroll exists a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business enhance the episode complex processes of
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll checking account how companies properly forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one country but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of factors most significantly regulations compliance information security and banking guidelines then there are the sheer numbers they add further complexity the worldwide Labor force is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the globe in the traditional payroll design there's typically an overwhelming number of various systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or very really standard there's no real consistency structure we're residing in an age of tech but 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 which just blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more a business invests in worldwide payroll the less of an image they see an absence of visibility also encompasses payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the deal almost half of global companies have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors badly interacted hires and terminations as well as lack management and system configurations and then when you round it all off and the information is delivered to the wrong location the typical expense of a worldwide 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 depend on the necessary several 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 difficulties service face when they're making payments to employees or otherwise that's a good question I always throw this back and state what is it what does not need to be included best 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 timespan 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 wherever you look ideal ultimately building a knowledge base is definitely vital however all over you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 basic and innovation is enabling us to kind of move on with that it likewise as well to add to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm constantly impressed when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high worth on well-being and the settlement landscape is becoming progressively intricate. Companies are continually presenting brand-new advantages and payment choices, which contributes to the general complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can result in inadequacies and bottlenecks. In my viewpoint, this does not have to be the case. In today's highly sophisticated period, there's no reason for maintaining troublesome procedures. Payroll, the business's most significant expenditure, need to be processed correctly and on time. Even slight delays can adversely impact workers' wellness and have significant effects. For that reason, it's vital to prioritize precise and timely payments.
payroll group get um so I'm uncertain anybody on this sort of webinar has actually been informed 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 employees or not um but eventually payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment solution is a great initial step um supplying an end-to-end payroll solution for your staff members worldwide once again I think is another huge um process again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely crucial to success success of organizations and decreasing the number of tools platforms and savings account they require for their Worldwide payroll too could not 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 do not anticipate to you do get the odd 5 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 believe any of us are really doing that for for the thanks
anyhow we know how how crucial 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 simple as possible for everybody that's involved in those processes and also so envision sorry I'm simply I was just gon na say envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting task trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and really see what was going on and type of try to get back to everyone so carrying on look why do business select to primary different savings account there are organizations out there doing exactly this for particular countries and I have actually worked in an organization or lots of organizations doing precisely that I can state it doesn't always feel efficient and it does create more work I understand we're not intentionally doing that we're not creating additional work for any person where we do not have to and anybody that's dealing with that process I 'd be interested to hear your thoughts 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 requirement I believe people have actually got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll functions 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 individuals have actually adopted and continue to do over years and years passed by 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 believe there's a range I think this is a procedure that needs taking a look at it requires changing however eventually people are very stuck with what they're familiar
with best um modification is a difficult thing we all do not like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having keeping several checking account however there's a big amount of intricacy chooses establishing a bank account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for individual individuals so the complexity is big however I believe the honest answer is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could practically be figured out to be the next Century or two there is a lot to keep an eye on and this technique does pose numerous obstacles um so Johnny could 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you should have a corner workplace with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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