Find out more about Difference Between Quickbooks Payroll And Papaya Global ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a protected and trustworthy method of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app simplifies my payroll process, saving me a substantial amount of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Employee Portal
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and employment files. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive benefits bundles to international workers no matter the variety of staff members in the business. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source regional advantages companies in every nation, produce regional accounts and have a minimum number of workers.
The HR capabilities provided by Global HR incorporate different functions such as monitoring holiday time, guaranteeing compliance, facilitating the process of inviting new employees and bidding farewell to departing ones, offering a safe online platform for storing workers' files, and providing assistance for work permit treatments in case your workers need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall employment costs dispersed per place, overall work costs per cycle and much more.
Internationally, I have actually demonstrated leadership and tactical expertise in guiding massive populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for managing payroll techniques, as pointed out by Mark. My role involves managing and establishing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for a lot of prominent business in the world we provide payroll payments and labor force management to all worker key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon excellent evening depending on where you are in the world it's beautiful to satisfy 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 have actually been in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I've type of had a range of different functions on the provider side and also on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it remains 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 elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business keep different
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of maintaining different savings account for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and timely payroll payments is a complex obstacle for organizations running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, learn how companies anticipate payroll costs to enhance working capital, and find how streamlining international payroll payments can change them from a troublesome job into a strategic asset.
Managing payroll globally is a challenging task due to various regulations, compliance requirements, data security issues, and banking guidelines. The sheer number of workers and organizations adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual processes, data silos, and a lack of combination, leading to inconsistencies and inadequacies. Despite residing in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to provide insights and options to simplify and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather frankly the more a business spends on worldwide payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide companies have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes poorly interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is shipped to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they count on the necessary several 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 challenges service face when they're paying to employees or otherwise that's an excellent question I always toss this back and say what is it what doesn't require 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 nation 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 any place you look right ultimately building a knowledge base is absolutely crucial however all over you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to type of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely crucial that payroll and finance groups work better together than ever um I'm always surprised when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on wellness and the compensation landscape is ending up being significantly intricate. Organizations are constantly introducing brand-new advantages and payment alternatives, which adds to the total intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this does not have to hold true. In today's highly innovative age, there's no reason for keeping troublesome procedures. Payroll, the company's most significant cost, must be processed correctly and on time. Even slight delays can negatively impact employees' wellness and have significant effects. For that reason, it's vital to prioritize accurate and timely payments.
payroll team get um so I'm uncertain anyone on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle all of us hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment option is a terrific initial step um supplying an end-to-end payroll solution for your staff members internationally again I believe is another big um process again aligning and ensuring you have standardization Global procedures all of those things are definitely essential to success success of services and minimizing the variety of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're meant to be um I don't think any of us are really doing that for for the thanks
anyhow we understand how how important a role 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 involved in those procedures and likewise so think of sorry I'm just I was just gon na say envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions envision getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task trying to clean up all those up for sure oh absolutely 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 in fact see what was going on and sort of try to return to everyone so carrying on look why do companies choose to main separate bank accounts there are services out there doing precisely this for particular nations and I've worked in a service or many businesses doing precisely that I can say it does not constantly feel efficient and it does produce more work I know we're not purposely doing that we're not developing extra work for any person where we don't have to and anyone that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the standard I think individuals have actually got so utilized to we need a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a range I think this is a process that requires taking a look at it requires changing however ultimately individuals are extremely stuck with what they're familiar
with best um change is a tough thing we all don't like modification um so I believe it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having keeping several savings account but there's a huge quantity of intricacy chooses setting up a bank account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for specific individuals so the complexity is huge however I believe the truthful answer is change um people haven't had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter however 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 moving on and moving into you know what might practically be determined to be the next Century approximately there is a lot to keep an eye on and this approach does present numerous difficulties um so Johnny could you inform us about those difficulties yeah naturally so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this boosted ability, I have actually successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
Sure Payroll Vs Papaya Global