Find out more about Papaya Global Payroll Blocked ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and reputable technique of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
Staff member Website
Employees have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive advantages plans to international workers regardless of the variety of workers in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the requirement to source local advantages suppliers in every country, develop local accounts and have a minimum variety of staff members.
The HR capabilities supplied by Worldwide HR include different functions such as monitoring holiday time, ensuring compliance, assisting in the process of inviting brand-new employees and bidding farewell to leaving ones, using a safe online platform for saving employees' documents, and offering assistance for work allow procedures in case your workers require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total work costs dispersed per place, total employment expenses per cycle and far more.
environments around the world I provided management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business handling and building external relationships supporting Business clients and options in addition to serving as a consultant for those of you that do not understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for many influential business in the world we supply payroll payments and workforce management to all employee types in over 160 nations I am pleased to say 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 excellent night depending on where you are in the world it's lovely to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and specifically working on 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 sort of make a real go at that over the last five or six years where I have actually type of had a range of different roles on the provider side and likewise on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everybody another number 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 quite interesting and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains 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 really dreary and I wish I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why business keep different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical property uh we'll also review a wrap-up which must leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become a growing number of typical and managing them ends up being more and more complex Global organizations are looking to discover Solutions and brand-new methods to enhance procedures particularly from a payroll and cross-border payment perspective many companies keep different savings account just for payroll while some have several accounts in different countries does it make good sense for business to maintain separate savings account often in different countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international companies streamline the episode complex procedures of
making payroll payments precisely efficiently securely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how companies precisely forecast their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in enough in one nation but when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most notably guidelines compliance information security and banking rules then there are the sheer numbers they include more complexity the global Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the globe in the standard payroll design there's frequently a frustrating number of various systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or really very standard there's no genuine consistency framework we're residing in an era of tech however payroll has 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 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 just 11 of organizations state they have Labor force information in real time that's another number that provides me sleepless nights and rather honestly the more an organization spends on global payroll the less of a photo they see a lack of exposure also encompasses payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide organizations have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors improperly interacted hires and terminations along with lack management and system setups and after that when you round all of it off and the data is delivered to the incorrect place the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they rely on the needed multiple processes 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 business face when they're paying to employees or otherwise that's a good concern I always 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 details 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look right eventually constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is allowing us to sort of move forward with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely important that payroll and financing teams work closer together than ever um I'm constantly surprised when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession 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 process 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 third parties so with the
The modern world places a high worth on well-being and the compensation landscape is becoming significantly detailed. Businesses are continuously presenting new advantages and payment alternatives, which contributes to the overall intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technically innovative period, there's no justification for maintaining cumbersome procedures. Payroll, the company's most significant cost, must be processed correctly and on time. Even slight delays can negatively affect staff members' well-being and have far-reaching consequences. Therefore, it's critical to focus on accurate and prompt payments.
payroll group get um so I'm uncertain anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment option is a fantastic initial step um providing an end-to-end payroll option for your staff members worldwide again I think is another big um procedure once again aligning and ensuring you have standardization Global procedures all of those things are definitely essential to success success of organizations and reducing the number of tools platforms and savings account they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're meant to be um I do not think any of us are really doing that for for the thanks
anyway we know how how crucial 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 also so picture sorry I'm just I was just gon na state picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions imagine getting that many thank you notes um I indicate 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 definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and really see what was going on and type of try to return to everybody so carrying on look why do business pick to primary different savings account there are organizations out there doing exactly this for specific nations and I have actually worked in a business or many businesses doing precisely that I can state it doesn't always feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for any person where we don't need to and anybody that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the requirement I believe people have got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply 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 actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires changing but ultimately individuals are extremely stuck with what they're familiar
with best um change is a challenging thing all of us 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 great deal of track of things um I understand obviously the advantages of having maintaining several checking account however there's a substantial quantity of complexity opts for establishing a bank account maintaining it ensuring it can send International transfers ensuring it's established with the best user accesses for specific individuals so the complexity is huge however I think the sincere response is modification um individuals haven't had the ability to alter or have not had always the understanding to really make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we have actually always 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 could nearly be determined to be the next Century approximately there is a lot to monitor and this approach does present numerous challenges um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
Sure Payroll Vs Papaya Global