Find out more about Papaya Global A Payroll ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and reputable method of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
Worker Website
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies offer competitive advantages bundles to worldwide workers despite the variety of workers in the company. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local advantages service providers in every nation, create local accounts and have a minimum variety of workers.
The HR capabilities offered by Worldwide HR incorporate numerous functions such as keeping track of getaway time, making sure compliance, assisting in the procedure of inviting brand-new employees and bidding farewell to departing ones, offering a protected online platform for storing workers' files, and providing support for work allow procedures in case your employees need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall work expenses dispersed per area, overall work expenses per cycle and a lot more.
environments across the globe I supplied management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise customers and options in addition to functioning as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for most prominent business worldwide we provide payroll payments and workforce management to all staff member types in over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon excellent night depending upon where you are in the world it's lovely to meet 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 have actually been in the payments market for over ten years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the problem 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 range of various roles on the provider side and also on the vendor side from a payroll point of view so actually anticipating this discussion today um and yeah thank you very much for your time everybody 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 interesting 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 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 very extremely gloomy and I wish I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business keep different
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is especially helpful for international organizations with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of keeping separate savings account for payroll in different countries, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in enough in one country but when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of reasons most importantly guidelines compliance information security and banking rules then there are the large numbers they include more intricacy the global Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the standard payroll design there's frequently a frustrating variety of different systems resulting in lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or extremely very basic there's no real consistency framework we're residing in a period of tech but 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 think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more an organization invests in worldwide payroll the less of a photo they see a lack of exposure also encompasses payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the transaction nearly half of international organizations 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 errors are because of time reporting bad HCM data data entry mistakes poorly communicated hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is delivered to the wrong place the typical 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 around the globe payroll and payments don't run smoothly if they depend on the required numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties company face when they're making payments to workers or otherwise that's an excellent question I constantly throw this back and state what is it what does not require to be included best and what does
it need to be thought of there's varying 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 abilities 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 customer's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is definitely critical but all over you look with payroll payment they resemble extremely payments no if but some children 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 fundamental and innovation is allowing us to kind of move on with that it also too to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation 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 people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on well-being and the payment landscape is becoming progressively elaborate. Companies are continuously introducing brand-new advantages and payment options, which adds to the general complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's highly innovative period, there's no justification for preserving troublesome treatments. Payroll, the company's greatest cost, should be processed properly and on time. Even small delays can adversely impact staff members' wellness and have significant repercussions. For that reason, it's crucial to prioritize accurate and prompt payments.
payroll team get um so I'm not sure anybody on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an essential cycle we all find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this things is done properly so leveraging the first Worldwide Payments very first payroll payment option is a great initial step um providing an end-to-end payroll service for your staff members worldwide once again I think is another big um procedure once again aligning and guaranteeing you have standardization International processes all of those things are definitely key to success success of businesses and lowering the number of tools platforms and checking account they require 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 have actually never 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 complaints where things haven't gone quite where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyway we know 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 simple as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm simply 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 potentially Millions think of getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and actually see what was going on and sort of try to return to everyone so carrying on appearance why do companies select to main separate bank accounts there are services out there doing precisely this for specific nations and I have actually operated in a service or lots of organizations doing precisely that I can say it doesn't constantly feel effective and it does produce more work I know we're not purposely doing that we're not producing additional work for anybody where we don't need to and any person that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I believe people have got so used to we require a brand-new savings account we open an entity and appropriately so you need 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 norm the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I believe this is a process that requires looking at it requires changing but eventually individuals are extremely stuck with what they're familiar
with ideal um modification is a hard thing we all do not like modification um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having preserving multiple bank accounts but there's a big quantity of intricacy chooses setting up a bank account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific people so the complexity is substantial but I believe the honest answer is modification um individuals have not had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century approximately there is a lot to keep track of and this approach does position numerous difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you deserve a corner office with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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