Find out more about Papaya Global And Zenefits Payroll Pricing Comparison ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and reputable approach of paying to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, conserving me a considerable amount of time monthly. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Staff member Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax declarations and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to international staff members regardless of the variety of staff members in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source local advantages suppliers in every country, develop local accounts and have a minimum number of workers.
The HR capabilities supplied by Worldwide HR incorporate numerous functions such as keeping track of getaway time, guaranteeing compliance, facilitating the procedure of welcoming new employees and bidding farewell to leaving ones, offering a safe and secure online platform for saving employees' documents, and supplying support for work permit treatments in case your staff members need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment expenses dispersed per place, overall work costs per cycle and far more.
environments around the world I offered 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 said I work across the business managing and structure external relationships supporting Enterprise customers and solutions in addition to serving as an advisor for those of you that do not know who papaya International is papaya is the first payroll and payments
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past seven years. The complexities and obstacles of this field have always captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've kind of had a variety of various functions on the provider side and also on the vendor side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite 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 certainly not the peak of the sunshine is it it's not no it's it's raining here it's really very dreary and I want I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business preserve separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is particularly useful for international companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic property 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 during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business accurately forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most significantly regulations compliance information security and banking guidelines then there are the large numbers they add additional intricacy the worldwide Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll design there's typically a frustrating number of different systems leading to lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or extremely extremely fundamental there's no real consistency structure we're residing in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that offers me sleepless nights and rather honestly the more a service spends on international payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the transaction almost half of global companies have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors poorly interacted hires and terminations in addition to lack management and system setups and then when you round all of it off and the data is delivered to the incorrect location the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they count on the required 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 difficulties company face when they're paying to employees or otherwise that's a great concern I always throw this back and state what is it what doesn't require to be consisted of best and what does
it need to be thought of 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 have 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 right eventually developing a knowledge base is definitely important however all over you look with payroll payment they are like incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind 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 definitely fundamental and technology is enabling us to type of move forward with that it also as well to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely vital that payroll and finance teams work closer together than ever um I'm constantly astonished when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate 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 frequently 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 people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of crucial to add to kind of the level of complexity there's a growing number of advantages being organ or being used by organizations throughout the world so again you're just looking to include a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real difficulties or genuine difficult type of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a couple of decades I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding information into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and a period that you understand that we are working in today there is no reason why we are still making this as difficult as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any service has from an expense point of view from an effect point of view on employees it is definitely crucial that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the most significant destructive result on people's well-being and lots of other elements if people aren't paid uh I have actually constantly been amazed coming into this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an important cycle we all become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment solution is a terrific first step um providing an end-to-end payroll service for your employees globally again I think is another substantial um procedure again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of services and lowering the number of tools platforms and savings account they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten 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 really doing that for for the thanks
anyway we understand how how essential a function 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 associated with those processes and likewise so picture sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job trying to clean all those up for sure oh definitely 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 in fact see what was going on and kind of shot to get back to everybody so proceeding appearance why do companies select to primary separate checking account there are companies out there doing exactly this for specific countries and I've operated in a service or lots of services doing precisely that I can say it does not always feel efficient and it does create more work I understand we're not purposely doing that we're not creating additional work for any person where we do not need to and anybody that's managing that process 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 believe numerous factors one is it's the requirement I think people have got so used to we require a new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I believe this is a procedure that requires taking a look at it needs altering but ultimately individuals are very stuck to what they recognize
with right um change is a difficult thing we all don't like modification um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having maintaining numerous savings account however there's a substantial quantity of intricacy chooses setting up a bank account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for specific individuals so the intricacy is huge but I believe the sincere 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 aside from opening a checking account I think you've hit the nail on the head I think it is understanding you know and there is a component of resistance to alter however we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what might almost be determined to be the next Century or so there is a lot to keep an eye on and this technique does present numerous challenges um so Johnny could you inform us about those challenges yeah naturally so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this improved ability, I have successfully protected payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide 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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