Find out more about Compare Papaya Global And Quickbooks Payroll ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to handling payments. This provides us with a safe and secure and trustworthy approach of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Employee Portal offers workers with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global assists companies provide competitive benefits bundles to global workers regardless of the number of staff members in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages suppliers in every nation, produce regional accounts and have a minimum number of workers.
The HR abilities offered by International HR include numerous functions such as monitoring getaway time, ensuring compliance, assisting in the process of inviting new employees and bidding farewell to leaving ones, providing a secure online platform for saving employees' documents, and supplying assistance for work allow procedures in case your workers need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall employment costs dispersed per area, total employment costs per cycle and much more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work across the business managing and structure external relationships supporting Enterprise clients and options as well as functioning as an advisor for those of you that do not understand who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for most prominent companies on the planet we offer payroll payments and workforce management to all worker key ins over 160 countries 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 excellent afternoon excellent night depending upon where you are in the world it's lovely to fulfill you and thank you quite 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 specifically dealing with 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 decided to kind of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of different roles on the company side and likewise on the vendor side from a payroll point of view so really anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very uninspiring and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies keep different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical asset uh we'll likewise go over a recap which must leave his time at the extremely 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 Worldwide labor forces end up being a growing number of common and managing them ends up being a growing number of complex International companies are aiming to discover Solutions and brand-new ways to improve processes specifically from a payroll and cross-border payment perspective many companies preserve separate savings account just for payroll while some have numerous accounts in different countries does it make sense for companies to preserve separate checking account often in various countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies enhance the episode complex processes of
making payroll payments precisely effectively safely and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings 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 strategic property so payroll can be tough in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a variety of reasons most notably guidelines compliance data security and banking rules then there are the sheer numbers they include further complexity the international Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the traditional payroll model there's frequently an overwhelming number of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big amounts and or really extremely fundamental there's no real consistency framework we're residing in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a company spends on global payroll the less of a picture they see a lack of exposure likewise reaches payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of global businesses have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes badly communicated hires and terminations as well as absence management and system configurations and then when you round everything off and the data is shipped to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run smoothly if they depend on the needed multiple processes 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 business face when they're making payments to employees or otherwise that's a great question I always toss this back and state what is it what doesn't need to be consisted of best 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 nation there's payment amount of time 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 complexity anywhere you look ideal eventually developing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to kind of move on with that it also too to add to that payroll and financing require to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is definitely important that payroll and finance teams work closer together than ever um I'm constantly surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation 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 procedure it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more important to contribute to type of the level of intricacy there's more and more benefits being organ or being offered by businesses across the world so again you're just looking to include a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine challenges or genuine difficult sort of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding info into the next function as it were that's actually handling the payment side of things but you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we run in they simply make them more timely they make them less effective and they don't make them what they require to be in in an age of tech and an age that you understand that we are working in today there is no reason we are still making this as difficult as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any business has from an expense point of view from an impact viewpoint on workers it is absolutely important that it's done correctly and on time so what we suggest 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 result on individuals's well-being and many other aspects if individuals aren't paid uh I've always been impressed entering this Market kind of the last 5 to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's viewed externally too. Therefore, it is necessary to guarantee that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the very first Global Payments first payroll payment option is a terrific preliminary step towards supplying a comprehensive payroll option for workers worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and checking account needed for global payroll are key consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things do not go as prepared. Ultimately, we don't do it for the appreciation.
anyhow we know 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 everyone that's involved in those processes and likewise so think of sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating task attempting to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and sort of try to return to everyone so proceeding look why do business pick to primary separate savings account there are services out there doing exactly this for specific nations and I've operated in a company or lots of companies doing exactly that I can state it does not always feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating additional work for any person where we don't have to and any person that's handling 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 amount that we are I believe many reasons one is it's the requirement I think individuals have actually got so utilized to we need a new bank account we open an entity and rightly so you require 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 standard and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I think this is a process that needs taking a look at it needs changing however eventually people are extremely stuck with what they recognize
with right um modification is a challenging thing all of us don't like modification um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having preserving several bank accounts however there's a substantial amount of complexity opts for establishing a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for specific people so the complexity is substantial however I believe the sincere response is change um people haven't been able to change or have not had always the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century or so there is a lot to monitor and this technique does posture several difficulties um so Johnny might you tell us about those obstacles yeah of course 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 International employees you are worthy of a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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