Find out more about Papaya Global Export Payroll To Qbo ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and secure and dependable technique of making payments to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll process, conserving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
The Worker Portal supplies employees with the ability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global helps companies use competitive benefits plans to worldwide staff members no matter the number of employees in the company. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the requirement to source regional benefits providers in every nation, produce local accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work costs dispersed per place, total work costs per cycle and much more.
environments around the world I offered leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business handling and building external relationships supporting Business clients and services along with acting as an advisor for those of you that do not know who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential business worldwide we provide payroll payments and labor force management to all employee enters over 160 countries I am pleased to state 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 good evening depending upon where you remain in the world it's beautiful to fulfill 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've been in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've sort of had a range of various roles on the provider side and likewise on the vendor side from a payroll perspective so really anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody comes from and I actually 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 drizzling here it's very extremely bleak and I wish I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll also go over a recap and that should leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of common and managing them ends up being increasingly more complex International companies are aiming to find Solutions and new ways to improve processes specifically from a payroll and cross-border payment viewpoint lots of companies keep different bank account just for payroll while some have multiple accounts in different nations does it make good sense for business to keep different bank accounts in some cases in different nations it does however just for payroll exists a better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business streamline the episode complex procedures of
making payroll payments precisely efficiently safely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how business properly forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in adequate in one nation but when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly policies compliance data security and banking guidelines then there are the large numbers they add further complexity the global Labor force is currently three 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 consider that there are some 230 million organizations and growing all doing their own thing around the globe in the traditional payroll model there's frequently a frustrating variety of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in big amounts and or extremely extremely basic there's no genuine consistency structure we're living in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often 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 services state they have Labor force information in real time that's another number that offers me sleepless nights and rather honestly the more an organization spends on international payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of worldwide organizations have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors badly interacted hires and terminations in addition to absence management and system setups and then when you round all of it off and the information is delivered to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they count on the essential several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties business face when they're making payments to staff members or otherwise that's an excellent question I always toss this back and say what is it what does not need to be consisted of best and what does
it need to be considered there's varying 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 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 any place you look best eventually building a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and innovation is allowing us to sort of move on with that it also too to contribute to that payroll and finance require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and financing teams work closer together than ever um I'm constantly surprised when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession 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 frequently 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 individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to contribute to type of the level of complexity there's a growing number of benefits being organ or being offered by services across the world so again you're just looking to include more and more payments to this already intricate landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine obstacles or genuine challenging kind of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding info into the next function as it were that's really managing the payment side of things however you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we need to create extra handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason that we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any service has from a cost viewpoint from an impact perspective on staff members it is definitely critical that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive effect on individuals's well-being and many other aspects if people aren't paid uh I've constantly been surprised entering this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this sort of webinar has been told 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 eventually payroll is such an essential cycle we all become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box exercise 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 first payroll payment option is a fantastic initial step um offering an end-to-end payroll service for your employees globally once again I believe is another huge um process again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of services and reducing the number of tools platforms and bank accounts they require for their Global 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 have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone quite where they're meant to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we understand how how essential 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 everybody that's associated with those processes and also so envision sorry I'm simply I was just gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions imagine getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and in fact see what was going on and sort of shot to return to everybody so proceeding look why do business choose to primary separate savings account there are organizations out there doing exactly this for particular countries and I have actually operated in an organization or lots of services doing exactly that I can say it does not constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not creating additional work for anybody where we do not have to and anybody that's managing that process 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 lots of factors one is it's the standard I think people have actually got so used to we need a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I believe this is a procedure that requires looking at it requires altering but ultimately individuals are really stuck to what they're familiar
with right um modification is a hard thing all of us do not like modification um so I think it's simply sort 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 understand undoubtedly the advantages of having maintaining multiple savings account however there's a substantial quantity of intricacy opts for establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific people so the intricacy is huge however I think the honest response is modification um individuals haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to change but we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century or so there is a lot to monitor and this technique does position several difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a range right there is so
I simply did you changed our Enterprise 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 Worldwide staff members you are worthy of a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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