Find out more about Full Payroll Cheaper Than Papaya Global ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and reputable method of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
Worker Portal
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment documents. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to worldwide employees despite the variety of staff members in the business. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source regional advantages suppliers in every country, create local accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment costs dispersed per area, overall employment costs per cycle and much more.
environments across the globe I provided leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business managing and building external relationships supporting Business clients and services in addition to acting 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 the majority of prominent companies worldwide we provide payroll payments and workforce management to all staff member enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good evening depending upon where you remain in the world it's lovely to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've type of had a variety of various roles on the company side and also on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everyone fine 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 nowadays 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 kind of like see where everybody comes from and I really do hope it's much sunnier than it is 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 very very dreary and I wish 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 challenge years of managing International payroll why companies preserve different
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is especially beneficial for global companies with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely forecast their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being intricate for a range of factors most significantly regulations compliance data security and banking guidelines then there are the large numbers they add additional intricacy the worldwide Labor force is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the standard payroll design there's typically a frustrating number of various systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in large quantities and or really really fundamental there's no genuine consistency framework we're living in an era 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 simply blows my mind each time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more a service invests in worldwide payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide services have revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors badly interacted hires and terminations along with lack management and system setups and then when you round it all off and the data is delivered to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they depend on the necessary multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're making payments to staff members or otherwise that's a great question I constantly throw this back and say what is it what does not need to be consisted of right and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 have to pay from the consumer's own in-country account so there's intricacy anywhere you look right ultimately constructing a knowledge base is absolutely crucial however all over you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to sort of move on with that it also also to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work closer together than ever um I'm always impressed when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation 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 process it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
The modern world places a high value on well-being and the settlement landscape is becoming progressively intricate. Organizations are constantly presenting brand-new advantages and payment options, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can cause inefficiencies and bottlenecks. In my opinion, this doesn't have to hold true. In today's technically advanced era, there's no validation for preserving cumbersome treatments. Payroll, the business's most significant cost, must be processed correctly and on time. Even minor hold-ups can adversely impact employees' wellness and have far-reaching effects. For that reason, it's important to prioritize accurate and timely payments.
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people just notice when things fail. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally as well. Therefore, it is necessary to make sure that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the very first Global Payments very first payroll payment solution is a great initial step towards providing a comprehensive payroll option for employees worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and savings account needed for worldwide payroll are key consider achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things do not go as prepared. Eventually, we do not do it for the thankfulness.
anyhow we know how how crucial 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 easy as possible for everybody that's involved in those procedures and likewise so think of sorry I'm simply I was just gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions picture 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 absolutely be an intriguing task attempting 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 really see what was going on and type of try to get back to everybody so proceeding look why do business choose to primary different savings account there are services out there doing precisely this for specific nations and I've worked in a company or many organizations doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not purposely doing that we're not producing additional work for anybody where we don't have to and anybody 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 quantity that we are I believe numerous reasons one is it's the requirement I believe individuals have got so used to we require a new bank account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm the people have 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 believe there's a range I believe this is a process that needs looking at it requires altering however eventually individuals are really stuck to what they recognize
with best um modification is a hard thing we all do not like change um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having preserving numerous checking account but there's a substantial quantity of complexity opts for setting up a savings account maintaining it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual people so the complexity is huge but I think the honest answer is change um individuals have not been able to alter or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I think it is understanding you know 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 advantages and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to keep an eye on and this method does present numerous obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
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