Find out more about Papaya Global Payroll Company Certified Payroll ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and secure and reliable approach of making payments to our 10,000 workers worldwide.}
The innovative international payroll management app streamlines my payroll process, saving me a substantial amount of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Worker Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and work documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive benefits bundles to worldwide employees regardless of the number of staff members in the company. The company can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source local advantages service providers in every country, develop regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total employment costs distributed per place, total work costs per cycle and much more.
environments around the world I offered management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout business managing and building external relationships supporting Enterprise customers and solutions in addition to functioning as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for a lot of influential companies in the world we offer payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon good night depending on where you are in the world it's charming 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 have actually been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've kind of had a range of various roles on the service provider side and also on the vendor side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just offer everyone another number 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 quite intriguing and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really gloomy and I want I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic asset uh we'll also review a wrap-up which needs to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become a growing number of typical and handling them ends up being increasingly more intricate Worldwide companies are looking to find Solutions and new ways to streamline processes specifically from a payroll and cross-border payment perspective many companies keep different bank account just for payroll while some have several accounts in various countries does it make sense for business to keep different bank accounts in some cases in different countries it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies enhance the episode complex procedures of
Ensuring precise, effective, and prompt payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, learn how companies anticipate payroll costs to optimize working capital, and discover how streamlining international payroll payments can transform them from a difficult job into a tactical possession.
Handling payroll globally is a difficult task due to numerous policies, compliance requirements, data security concerns, and banking guidelines. The large variety of staff members and companies adds to the complexity, with an approximated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems typically lead to manual processes, information silos, and a lack of integration, causing disparities and inefficiencies. Despite residing in an era of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to provide insights and solutions to streamline and enhance global payroll payments.
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 data in real time that's another number that provides me sleepless nights and rather frankly the more an organization invests in global payroll the less of a picture they see an absence of presence likewise 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 worldwide businesses have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes improperly communicated hires and terminations as well as absence management and system setups and then when you round it all off and the information is delivered to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the required several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a good question I constantly toss this back and say what is it what does not require to be included best and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 client's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is definitely important however everywhere you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind 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 absolutely fundamental and technology is allowing us to kind of move on with that it also 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 absolutely vital that payroll and finance groups work more detailed together than ever um I'm always amazed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry 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 information collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the settlement landscape is ending up being increasingly intricate. Companies are constantly presenting brand-new benefits and payment alternatives, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into different groups, which can cause inefficiencies and traffic jams. In my opinion, this does not have to hold true. In today's highly sophisticated age, there's no validation for keeping cumbersome procedures. Payroll, the company's most significant expenditure, should be processed properly and on time. Even minor hold-ups can negatively affect employees' well-being and have significant effects. For that reason, it's critical to prioritize accurate and timely payments.
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people just observe when things go wrong. However, 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 essential to make sure that tasks like Wi-Fi Worldwide and other important matters are done properly. Utilizing the very first International Payments very first payroll payment service is a terrific initial step towards providing a thorough payroll option for employees worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and savings account necessary for worldwide payroll are crucial consider achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things do not go as planned. Ultimately, we do not do it for the appreciation.
anyway we know how how essential 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 simple as possible for everybody that's involved in those procedures and also so think of sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing task attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and kind of try to get back to everybody so carrying on look why do business pick to primary different checking account there are services out there doing exactly this for particular countries and I have actually worked in an organization or numerous services doing precisely that I can state it doesn't always feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating extra work for anybody where we don't have to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I think people have actually got so utilized to we require a new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I believe this is a process that needs taking a look at it needs altering however ultimately individuals are extremely stuck with what they recognize
with best um change is a tough thing we all 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 lot of track of things um I understand undoubtedly the benefits of having preserving several checking account but there's a substantial quantity of complexity opts for establishing a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the best user accesses for specific people so the complexity is big but I think the honest answer is modification um individuals have not been able to change or have not had always the understanding to truly make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century or two there is a lot to track and this technique does present several obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I simply did you switched our Business 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 workers you are worthy of a corner workplace with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global