Find out more about G2 Crowd Papaya Global Payrollpapaya Global Payroll Alternatives & Competitors G2 ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to handling payments. This provides us with a secure and trustworthy approach of making payments to our 10,000 workers worldwide.}
The advanced worldwide payroll management app streamlines my payroll procedure, conserving me a considerable amount of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Staff member Portal
Employees have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages packages to global staff members regardless of the variety of staff members in the company. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source regional benefits providers in every country, create local accounts and have a minimum variety of workers.
The HR capabilities offered by Global HR incorporate various functions such as keeping track of holiday time, making sure compliance, facilitating the process of inviting new staff members and bidding farewell to leaving ones, offering a safe and secure online platform for saving workers' documents, and offering assistance for work allow treatments in case your workers need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall employment costs distributed per location, total work costs per cycle and a lot more.
environments around the world I provided 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 said I work throughout business managing and building external relationships supporting Enterprise customers and options in addition to serving as an advisor for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We focus on providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite 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 concentrated on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have actually constantly captivated me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I've type of had a variety of various functions on the service provider side and likewise on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays 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 type of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really really bleak and I want I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business maintain different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is especially beneficial for global organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of reasons most importantly guidelines compliance data security and banking guidelines then there are the large numbers they include more intricacy the worldwide Workforce 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 people that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the standard payroll design there's typically a frustrating variety of various systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in big quantities and or really really basic there's no genuine consistency framework we're residing in a period of tech however payroll has actually been sluggish 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 every time I I believe
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 Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction nearly half of international services have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes improperly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the data is shipped to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they rely on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they're paying to employees or otherwise that's a great question I constantly toss this back and say what is it what doesn't need to be consisted of 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 country there's payment time frames there's payment abilities 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 client's own in-country account so there's intricacy wherever you look best ultimately constructing a knowledge base is definitely important but all over you look with payroll payment they are like extremely 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 in 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 technology is permitting us to sort of move forward with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm always surprised when people say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on well-being and the settlement landscape is becoming progressively complex. Businesses are continually introducing brand-new advantages and payment options, which adds to the overall complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can cause inefficiencies and traffic jams. In my opinion, this doesn't need to hold true. In today's technologically innovative age, there's no reason for preserving cumbersome treatments. Payroll, the business's biggest expense, should be processed correctly and on time. Even slight hold-ups can adversely affect staff members' wellness and have far-reaching repercussions. Therefore, it's important to prioritize accurate and timely payments.
payroll team get um so I'm unsure anybody on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done correctly so leveraging the very first International Payments very first payroll payment option is an excellent initial step um providing an end-to-end payroll service for your workers internationally again I believe is another huge um process again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely key to success success of services and lowering the number of tools platforms and checking account they need for their International 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've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand how how crucial a role 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 associated with those processes and also so think of sorry I'm simply I was just gon na say imagine 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 speaking about numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating job attempting to clean up all those up for sure oh definitely 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 look through them and in fact see what was going on and kind of shot to get back to everybody so carrying on look why do companies pick to main separate checking account there are services out there doing exactly this for specific countries and I have actually worked in a company or many businesses doing precisely that I can say it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for anybody where we do not need to and anyone that's handling 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 amount that we are I think numerous reasons one is it's the requirement I believe people have got so used to we need a new bank account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I think this is a procedure that needs taking a look at it requires altering however ultimately individuals are really stuck to what they're familiar
with ideal um modification is a tough thing we all don't like modification um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having maintaining several savings account however there's a big amount of complexity chooses setting up a savings account preserving it ensuring it can send International transfers ensuring it's established with the best user accesses for specific individuals so the intricacy is huge however I believe the honest response is change um individuals haven't had the ability to alter or have not had always the understanding to really make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we've always done it that way is no real excuse for not looking at the the benefits 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 track of and this method does posture numerous obstacles um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I just did you changed our Business 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 are worthy of a corner workplace with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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