Find out more about Papaya Global Not Sending Payroll Invoice To Xero ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and trusted method of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app streamlines my payroll process, conserving me a significant amount of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Worker Website
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive benefits plans to worldwide employees despite the number of staff members in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source regional advantages suppliers in every nation, develop local accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total employment costs dispersed per location, overall employment expenses per cycle and far more.
environments around the world I supplied management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout business handling and structure external relationships supporting Enterprise customers and services along with serving as an advisor for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies 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 discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually type of had a variety of different functions on the supplier side and also on the vendor side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I truly 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 raining here it's really very gloomy and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why companies maintain different
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is especially beneficial for international organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets provide 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 strategic possession 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 accurately effectively safely and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one nation but when you're doing it internationally it's next level and Beyond it becomes complex for a variety of factors most notably policies compliance data security and banking guidelines then there are the sheer numbers they include more intricacy the worldwide Labor force is currently 3 and a half billion people 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 conventional payroll model there's typically an overwhelming number of various systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or really extremely basic there's no genuine consistency structure we're residing in an era of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that offers me sleepless nights and rather honestly the more a business invests in global payroll the less of an image they see an absence of exposure also encompasses payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the deal nearly half of global services have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors poorly communicated hires and terminations in addition to absence management and system configurations and then when you round everything off and the data is shipped to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they depend on the essential multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges business face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what does not need to be consisted of best and what does
it need to be thought about there's differing Bank information 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 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 customer's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like super payments no if however some infants 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 definitely essential and innovation is permitting us to kind of move forward with that it also also to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely vital that payroll and financing groups work better together than ever um I'm constantly impressed when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation 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 eventually 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 3rd parties so with the
world we live in and wellness being increasingly more important to add to kind of the level of intricacy there's a growing number of advantages being organ or being offered by businesses throughout the world so once again you're simply wanting to add a growing number of payments to this already complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real obstacles or real tough type of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a number of years I would absolutely state that the bigger a business 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 groups feeding details 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 need to be the case you know long gone are the times where we require to produce extra handoffs at the same times that we operate in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and a period that you know that we are operating in today there is no reason we are still making this as difficult as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any organization has from a cost point of view from an effect point of view on workers it is definitely important that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest harmful impact on individuals's wellness and many other aspects if individuals aren't paid uh I've always been amazed entering this Market type of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only notice when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally also. Therefore, it is important to ensure that jobs like Wi-Fi Global and other important matters are done properly. Utilizing the very first International Payments very first payroll payment option is a fantastic preliminary action towards offering a thorough payroll service for workers worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and bank accounts required for international payroll are essential consider achieving business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyway we know how how essential a function 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 associated with those processes and also so think of sorry I'm just I was simply gon na state think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task attempting to clean all those up for sure oh definitely 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 attempt to browse them and in fact see what was going on and kind of shot to return to everyone so moving on appearance why do companies pick to primary different savings account there are services out there doing precisely this for specific countries and I've worked in a service or numerous organizations doing precisely that I can say it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing extra work for anyone where we do not have to and anybody that's dealing with 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 quantity that we are I believe many reasons one is it's the standard I think people have got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I think this is a procedure that needs looking at it requires changing however eventually people are really stuck to what they're familiar
with ideal um change is a hard thing all of us don't like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the advantages of having preserving multiple savings account but there's a big amount of intricacy goes with establishing a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for individual people so the complexity is big but I think the truthful answer is modification um individuals have not had the ability to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I think it is knowledge 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 taking a look at the the benefits and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century or so there is a lot to track and this technique does position several difficulties um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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