Find out more about Papaya Global Free Payroll For Your Fir ... 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 actually obtained a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and secure and reliable method of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app streamlines my payroll process, conserving me a substantial amount of time monthly. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
Staff member Website
Workers have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to worldwide workers no matter the number of employees in the business. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source regional advantages companies in every country, create regional accounts and have a minimum variety of staff members.
The HR capabilities offered by International HR include numerous functions such as keeping an eye on holiday time, ensuring compliance, facilitating the procedure of inviting new employees and bidding goodbye to departing ones, using a secure online platform for saving employees' documents, and supplying support for work permit treatments in case your employees need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment expenses dispersed per location, overall employment costs per cycle and far more.
environments across the globe I supplied management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across business managing and building external relationships supporting Enterprise clients and options in addition to functioning as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for the majority of prominent business worldwide we supply payroll payments and labor force management to all employee enters over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon great night depending upon where you remain in the world it's beautiful to satisfy you and thank you very much 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 market for over ten years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or six years where I've type of had a range of different roles on the supplier side and also on the vendor side from a payroll viewpoint so truly looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating 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 everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really very bleak and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical asset uh we'll likewise discuss a recap which must leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more common and managing them becomes a growing number of complex Worldwide organizations are seeking to find Solutions and new ways to improve processes particularly from a payroll and cross-border payment perspective many companies keep different savings account just for payroll while some have numerous accounts in different nations does it make good sense for business to maintain different savings account often in various countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business simplify the episode complex processes of
making payroll payments precisely effectively firmly and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of reasons most notably policies compliance information security and banking rules then there are the large numbers they add additional complexity the worldwide Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the standard payroll model there's frequently an overwhelming number of various systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in big quantities and or very very standard 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 and that simply blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more a business invests in worldwide payroll the less of an image they see an absence of visibility also reaches payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal almost half of worldwide services have revealed that they do not 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 data entry errors badly communicated hires and terminations along with absence management and system setups and after that when you round everything off and the information is shipped to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they rely on the needed multiple 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 obstacles business face when they're paying to employees or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't need to be consisted of right and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities 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 consumer's own in-country account so there's complexity anywhere you look best eventually developing a knowledge base is definitely critical but everywhere 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 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 definitely fundamental and innovation is permitting us to sort of move forward with that it likewise also to add to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely vital that payroll and finance teams work closer together than ever um I'm always impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation 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 process it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to contribute to type of the level of intricacy there's increasingly more benefits being organ or being used by services across the world so again you're simply aiming to add more and more payments to this already complicated landscape so if you type of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real difficulties or genuine difficult kind of pay uses to play to pay people I think yeah I indicate over the last well yeah a number of decades I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding info into the next function as it were that's in fact handling the payment side of things but 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 in the processes 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 a period of tech and an era that you understand that we are working 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 greatest liability that any service has from a cost perspective from an effect point of view on staff members it is absolutely 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 biggest destructive effect on people's well-being and many other aspects if people aren't paid uh I've always been amazed entering into this Market type of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only see when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's viewed externally also. For that reason, it is necessary to ensure that jobs like Wi-Fi Worldwide and other important matters are done properly. Utilizing the first Global Payments very first payroll payment option is an excellent preliminary step towards providing an extensive payroll service for workers worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and checking account essential for worldwide payroll are essential factors in accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as planned. Ultimately, we do not do it for the appreciation.
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 everybody that's associated with those processes and likewise so envision sorry I'm simply I was simply gon na say envision the amount 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 possibly Millions picture getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating task trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and really see what was going on and sort of try to return to everyone so carrying on appearance why do business pick to primary different bank accounts there are businesses out there doing precisely this for specific countries and I've worked in a business or lots of organizations doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I know we're not purposely doing that we're not producing extra work for anyone where we don't have to and any person that's handling 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 numerous factors one is it's the requirement I think people have got so utilized to we require a brand-new checking account we open an entity and rightly so you require it for payroll purposes but 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 actually embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I believe this is a process that needs looking at it requires altering however ultimately people are extremely stuck with what they're familiar
with ideal um modification is a challenging thing we all do not like change um so I think it's just type of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having maintaining numerous bank accounts but there's a big amount of intricacy chooses setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for individual individuals so the intricacy is huge but I believe the sincere response is modification um individuals haven't had the ability to change or haven't had always the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what might nearly be figured out to be the next Century or so there is a lot to track and this approach does posture several difficulties um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I just did you switched our Enterprise 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 Global workers you should have a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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