Find out more about Papaya Global Payroll Alternatives & Competitors G2G2 Crowd Papaya Global Payroll ... 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 obtained a different Chief Financial Officer specifically devoted to managing payments. This provides us with a protected and reputable approach of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and contractors
Worker Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to global workers regardless of the variety of staff members in the company. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source regional benefits suppliers in every nation, develop local accounts and have a minimum number of workers.
The HR capabilities offered by International HR include different functions such as keeping an eye on holiday time, guaranteeing compliance, assisting in the procedure of welcoming brand-new workers and bidding farewell to departing ones, offering a protected online platform for saving workers' files, and supplying support for work allow treatments in case your employees need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work expenses dispersed per area, total employment costs per cycle and a lot more.
environments across the globe 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 stated I work throughout the business handling and structure external relationships supporting Business clients and options in addition to acting as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for many influential companies on the planet we provide payroll payments and labor force management to all employee key ins 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 good evening depending upon where you are in the world it's charming to meet 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 have actually 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 intricacy the trouble in all of the above of
payroll payments and decided 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 different functions on the service provider side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very really bleak and I wish I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya Global payroll payments as a tactical property uh we'll also discuss 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 moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become increasingly more typical and managing them becomes more and more complex Worldwide organizations are wanting to discover Solutions and brand-new methods to streamline processes particularly from a payroll and cross-border payment perspective numerous companies keep different savings account just for payroll while some have several accounts in various countries does it make sense for companies to keep different savings account in some cases in different nations it does however just for payroll is there a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational companies enhance the episode complex procedures of
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of factors most significantly guidelines compliance data security and banking rules then there are the large numbers they include more intricacy the international Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the standard payroll design there's frequently a frustrating number of different systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in big quantities and or very extremely basic there's no real consistency framework we're living in a period of tech but 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 which simply blows my mind each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a business invests in international payroll the less of a photo they see an absence of presence also extends to payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide organizations have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes badly interacted hires and terminations as well as lack management and system setups and then when you round it all off and the information is shipped to the wrong 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 world payroll and payments don't run efficiently if they rely on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles organization face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and say what is it what doesn't need to be included right and what does
it need to be considered there's differing 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 need 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 important however all over you look with payroll payment they are like 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 think there's now a bit more recognition that payroll payments are absolutely basic and technology is permitting us to type of move on with that it likewise too to add to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely crucial that payroll and financing groups work better together than ever um I'm constantly astonished when individuals say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation 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 information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to add to sort of the level of intricacy there's increasingly more benefits being organ or being provided by services across the world so once again you're just looking to add a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real challenges or genuine difficult sort of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a couple of decades I would certainly state that the larger a service 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 in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and an age that you know that we are operating in today there is no reason that we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any company has from an expense point of view from an impact viewpoint on employees it is definitely vital 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 need to be done right it has the biggest detrimental effect on people's wellness and lots of other aspects if individuals aren't paid uh I've constantly been impressed entering into this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle we all find out about it when it fails everyone jumps up and down when it goes wrong but 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 also like why WI-Fi Global why all of this things is definitely vital that all of this things is done correctly so leveraging the first International Payments very first payroll payment option is a fantastic initial step um offering an end-to-end payroll option for your workers globally again I think is another big um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely key to success success of businesses and minimizing the number of tools platforms and bank accounts they need for their International payroll too could not 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 indicated to be um I do not think any of us are really doing that for for the thanks
anyway we understand how how important 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 picture sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and really see what was going on and kind of shot to return to everyone so carrying on look why do business choose to primary separate bank accounts there are businesses out there doing precisely this for particular countries and I have actually worked in a service or numerous businesses doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating extra work for anybody where we do not have to and any person 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 think lots of reasons one is it's the requirement I believe people have actually got so utilized to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions 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 embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I think this is a process that requires looking at it needs changing but eventually individuals are extremely stuck to what they're familiar
with right um modification is a challenging thing we all don't like modification um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having maintaining multiple savings account but there's a substantial quantity of complexity goes with establishing a bank account keeping it ensuring it can send International transfers ensuring it's established with the best user accesses for specific individuals so the intricacy is huge however I think the truthful answer is change um individuals haven't been able to alter or have not had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter but we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does present a number of challenges um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gained another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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