Find out more about Cost For Papaya Global Payroll System ... We now have the capability to handle 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 handling payments. This provides us with a secure and trustworthy approach of paying to our 10,000 workers worldwide.}
The innovative international payroll management app improves my payroll procedure, conserving me a substantial amount of time every month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
The Worker Portal provides staff members with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits plans to international employees regardless of the variety of workers in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages providers in every nation, develop regional accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total work costs distributed per location, overall work costs per cycle and much more.
environments across the globe I supplied management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work across the business handling and building external relationships supporting Business clients and services as well as functioning as an advisor for those of you that don't understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent business on the planet we offer payroll payments and labor force management to all employee enters over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon great night depending on where you remain in the world it's charming to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually type of had a variety of various functions on the company side and likewise on the vendor side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I really 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 raining here it's really really bleak and I wish I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies keep separate
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of preserving different savings account for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively securely and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of factors most notably policies compliance information security and banking rules then there are the large numbers they include more intricacy 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 consider that there are some 230 million services and growing all doing their own thing around the world in the conventional payroll design there's frequently an overwhelming number of various systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in big quantities and or extremely extremely standard there's no genuine consistency framework 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 typically 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 companies say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more a service spends on international payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of worldwide companies have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors badly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the data is delivered to the incorrect location the average cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they rely on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're making payments to workers or otherwise that's an excellent question I constantly toss this back and say what is it what does not need to be consisted of ideal and what does
it require to be considered there's varying 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 customer's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to sort of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely important that payroll and financing groups work more detailed together than ever um I'm constantly surprised when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to contribute to kind of the level of intricacy there's more and more benefits being organ or being provided by companies throughout the world so once again you're simply seeking to include more and more payments to this already complex 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 genuine obstacles or genuine tough type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to develop additional handoffs at the same times that we operate in they just make them more prompt they make them less effective and they don't make them what they need to be in in an era of tech and an era that you know that we are working in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any service has from a cost viewpoint from an effect perspective on employees it is absolutely important that it's done properly 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 damaging effect on individuals's well-being and many other aspects if people aren't paid uh I have actually constantly been amazed entering this Market type of the last 5 to ten years is how little thanks the
The payroll team may not have actually been thanked for properly 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 employees or not. Payroll is a crucial cycle, and people just see when things go wrong. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's viewed externally also. Therefore, it is vital to make sure that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment service is an excellent preliminary action towards supplying a detailed payroll solution for staff members worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and savings account essential for global payroll are essential factors in accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we know how how important a function it is which'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 associated with those processes and likewise so think of sorry I'm just I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions think of 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 job 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 check out them and actually see what was going on and type of shot to return to everybody so moving on look why do companies select to main separate savings account there are organizations out there doing precisely this for particular countries and I have actually worked in a service or numerous services doing precisely that I can state it does not always feel effective and it does develop more work I understand we're not intentionally doing that we're not producing additional work for any person where we don't need to and any person that's dealing with that procedure 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 lots of reasons one is it's the standard I believe people have actually got so used 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 simply been the requirement and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a procedure that needs taking a look at it needs changing but eventually people are very stuck with what they recognize
with ideal um modification is a tough thing all of us do not like modification um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having maintaining multiple savings account but there's a substantial amount of complexity goes with establishing a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is big however I think the sincere answer is change um people haven't been able to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a bank 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 have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century or two there is a lot to keep an eye on and this technique does position several obstacles um so Johnny might you inform us about those obstacles yeah obviously 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 Worldwide staff members you should have 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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