Find out more about Best Payroll Processing Software Papaya Global ... 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 obtained a separate Chief Financial Officer specifically committed to managing payments. This offers us with a secure and trustworthy approach of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Worker Website
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work files. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive benefits bundles to worldwide staff members despite the variety of workers in the company. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source regional advantages companies in every nation, create regional accounts and have a minimum variety of staff members.
The HR capabilities offered by Worldwide HR include various functions such as keeping an eye on vacation time, guaranteeing compliance, assisting in the process of inviting new staff members and bidding goodbye to departing ones, offering a safe online platform for storing employees' documents, and providing support for work permit treatments in case your employees require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, total employment expenses dispersed per area, total employment expenses per cycle and a lot more.
environments around the world I provided management and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work across business handling and building external relationships supporting Enterprise customers and solutions along with acting as a consultant for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past seven years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I've kind of had a range of different functions on the supplier side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply provide 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 rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really extremely bleak 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 looking at the difficulty years of managing Worldwide payroll why companies preserve different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll likewise go over a wrap-up which must leave his time at the really extremely 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 Global workforces end up being a growing number of typical and managing them ends up being a growing number of intricate International companies are seeking to find Solutions and new methods to improve procedures specifically from a payroll and cross-border payment viewpoint numerous organizations maintain different savings account just for payroll while some have several accounts in different nations does it make sense for companies to preserve different checking account in some cases in different countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business streamline the episode complex processes of
Guaranteeing precise, effective, and timely payroll payments is a complex obstacle for companies operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, discover how business anticipate payroll costs to optimize working capital, and find how simplifying global payroll payments can transform them from a challenging task into a strategic possession.
Handling payroll worldwide is a difficult job due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The large variety of staff members and companies adds to the complexity, with an approximated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual procedures, data silos, and a lack of combination, causing disparities and inadequacies. Regardless of living in an era of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to offer insights and options to streamline and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that provides me sleep deprived nights and rather frankly 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 mishaps in the last mile of the deal nearly half of global organizations have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes poorly communicated hires and terminations along with lack management and system setups and then when you round everything off and the information is shipped to the incorrect place the typical cost of a global 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 smoothly if they count on the essential numerous 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 difficulties service face when they're making payments to workers or otherwise that's a great question I constantly throw this back and say what is it what doesn't need to be included right and what does
it require to be considered there's differing Bank details 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 anywhere you look ideal eventually building a knowledge base is definitely critical but 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 kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is permitting us to sort of move on with that it also too to contribute to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely essential that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of crucial to add to kind of the level of intricacy there's a growing number of benefits being organ or being used by services across the world so again you're simply looking to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real obstacles or genuine difficult type of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a couple of decades I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding info 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 doesn't necessarily require to be the case you know long gone are the times where we need to create extra handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and an era that you know that we are working in today there is no reason we are still making this as difficult as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from a cost viewpoint from an effect perspective 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 need to be done right it has the greatest detrimental effect on individuals's well-being and numerous other elements if individuals aren't paid uh I've constantly been astonished entering this Market type of the last five to ten years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just observe when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's viewed externally also. For that reason, it is essential to ensure that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the very first Global Payments very first payroll payment solution is a terrific preliminary action towards providing a comprehensive payroll service for staff members worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and savings account necessary for international payroll are crucial factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as prepared. Ultimately, we don't do it for the appreciation.
anyhow 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 involved in those procedures and likewise so envision sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions envision getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job trying to clean up all those up for sure oh definitely 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 browse them and actually see what was going on and sort of try to return to everybody so moving on appearance why do companies select to main different savings account there are services out there doing precisely this for particular countries and I've worked in a company or numerous organizations doing precisely that I can say it does not constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating extra work for any person where we don't have to and anyone that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe many factors one is it's the requirement I believe individuals have actually got so used to we need a new savings account we open an entity and appropriately so you need it for payroll purposes but 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 passed by to contribute to that people have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a variety I believe this is a procedure that needs looking at it needs changing however ultimately individuals are extremely stuck to what they're familiar
with best um modification is a tough thing all of us don't like modification um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having keeping several savings account but there's a substantial quantity of complexity chooses setting up a checking account keeping it ensuring it can send out International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is big however I think the sincere response is modification um individuals have not been able to change or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we've always 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 know what could nearly be identified to be the next Century approximately there is a lot to keep an eye on and this method does position numerous challenges um so Johnny might you inform us about those obstacles yeah of course so there's a variety 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you deserve a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global