Find out more about Papaya Global Help Bonus Payroll Taxes ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and reputable technique of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Staff member Website
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment documents. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to global staff members despite the variety of workers in the company. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source regional advantages providers in every country, produce local accounts and have a minimum variety of staff members.
The HR capabilities supplied by International HR incorporate numerous functions such as keeping track of holiday time, ensuring compliance, assisting in the process of welcoming brand-new workers and bidding farewell to leaving ones, offering a safe online platform for saving workers' documents, and supplying support for work permit treatments in case your workers require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total work expenses dispersed per area, total employment costs per cycle and a lot more.
environments around the world I provided management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise customers and solutions in addition to acting as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have always mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of different functions on the company side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing 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 is 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 really really dreary and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies keep different
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is especially useful for international organizations with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of keeping different savings account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a variety of reasons most significantly policies compliance information security and banking rules then there are the sheer numbers they add further intricacy the global Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the traditional payroll model there's often a frustrating variety of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in big quantities and or extremely extremely basic there's no real consistency framework we're residing in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more a company invests in international payroll the less of a photo they see an absence of presence also extends to payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of international businesses have actually revealed 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 due to time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations in addition to lack management and system setups and then when you round everything off and the data is delivered to the wrong place the typical cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they depend on the needed multiple 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 difficulties business face when they're making payments to employees or otherwise that's a good question I constantly toss this back and state what is it what does not need to be consisted of right 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 timespan there's payment capabilities 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 client's own in-country account so there's intricacy any place you look ideal eventually developing a knowledge base is definitely important but all over you look with payroll payment they are like super payments no if but some children 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 think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to sort of progress with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely vital that payroll and financing groups work more detailed together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from estimation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high value on wellness and the compensation landscape is becoming increasingly detailed. Organizations are continually presenting new benefits and payment alternatives, which adds to the general intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can cause inadequacies and traffic jams. In my viewpoint, this does not have to be the case. In today's highly sophisticated era, there's no validation for maintaining troublesome treatments. Payroll, the business's most significant expense, must be processed correctly and on time. Even slight delays can negatively affect staff members' well-being and have significant effects. Therefore, it's vital to prioritize precise and timely payments.
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just see when things fail. However, when things go right, it's viewed as simply a routine task. This is how it's perceived externally too. For that reason, it is important to guarantee that jobs like Wi-Fi Worldwide and other crucial matters are done correctly. Using the first Global Payments first payroll payment service is a fantastic initial step towards supplying a detailed payroll solution for employees worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and checking account essential for worldwide payroll are key factors in attaining organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things do not go as planned. Eventually, we do not do it for the gratitude.
anyway we know how how important a role it is which'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 involved in those processes and likewise so think of sorry I'm just I was just 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 sure we're speaking about hundreds of thousands potentially 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 absolutely be a fascinating job trying to clean up 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 try to browse them and in fact see what was going on and sort of try to return to everybody so moving on look why do companies select to primary different savings account there are organizations out there doing exactly this for specific countries and I've operated in a company or lots of companies doing precisely that I can state it does not always feel effective and it does develop more work I know we're not intentionally doing that we're not developing additional work for any person where we do not have to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think many factors one is it's the standard I believe people have actually got so utilized to we need a new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I think this is a procedure that requires taking a look at it needs altering however ultimately people are very stuck to what they're familiar
with ideal um change is a challenging thing we all do not like change um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having keeping multiple savings account but there's a huge amount of complexity chooses setting up a savings account keeping it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual people so the intricacy is big but I believe the sincere response is modification um people haven't been able to alter or have not had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century or so there is a lot to monitor and this technique does present a number of obstacles um so Johnny could you tell us about those difficulties yeah of course 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 Global 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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