Find out more about Papaya Global Payroll Coupon ... 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 particularly dedicated to handling payments. This offers us with a secure and reputable approach of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Worker Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business provide competitive advantages plans to global workers no matter the number of workers in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source local advantages companies in every country, develop regional accounts and have a minimum variety of workers.
The HR capabilities provided by Global HR include different functions such as keeping an eye on holiday time, guaranteeing compliance, assisting in the process of inviting brand-new staff members and bidding farewell to departing ones, using a safe and secure online platform for keeping workers' documents, and offering support for work allow treatments in case your employees require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall work expenses dispersed per area, overall employment costs per cycle and far more.
environments around the world I provided management and strategy 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 across the business managing and structure external relationships supporting Business customers and solutions in addition to functioning as an advisor for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's an enjoyment to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past 7 years. The complexities and obstacles of this field have actually always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually type of had a range of different functions on the service provider side and also on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone 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 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 extremely bleak and I want I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies keep separate
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is especially beneficial for international organizations with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business properly forecast their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in adequate in one country however when you're doing it globally it's next level and Beyond it becomes complex for a variety of reasons most notably regulations compliance information security and banking rules then there are the large numbers they include more intricacy the worldwide Labor force is presently 3 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 currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll model there's frequently a frustrating number of different systems causing lengthy manual processes and silos the number of Combinations could be non-existent in large quantities and or extremely extremely basic there's no real consistency structure we're residing in an age 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 and that simply blows my mind every time I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization spends on worldwide payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide businesses have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes improperly interacted hires and terminations along with lack management and system configurations and then when you round everything off and the information is shipped to the incorrect location the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they rely on the required several 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 difficulties business face when they're paying to staff members or otherwise that's an excellent concern I always throw this back and say what is it what does not require to be consisted of right and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 consumer's own in-country account so there's complexity anywhere you look right ultimately constructing a knowledge base is absolutely important but all over you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and technology is permitting us to type of progress with that it likewise too 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 necessary that payroll and finance groups work more detailed together than ever um I'm always amazed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide 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 procedure it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more essential to contribute to sort of the level of complexity there's more and more advantages being organ or being offered by businesses across the world so once again you're just wanting to add more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine challenges or genuine tough sort of pay uses to play to pay people I think yeah I indicate over the last well yeah a couple of years I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding details 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 does not always need to be the case you understand long gone are the times where we require to produce additional handoffs at the same times that we operate 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 a period of tech and an age that you understand that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single most significant liability that any service has from a cost viewpoint from an effect perspective on staff members it is definitely important that it's done correctly 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 destructive result on people's wellness and lots of other factors if people aren't paid uh I have actually always been amazed entering this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle all of us become aware of it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment service is an excellent primary step um offering an end-to-end payroll service for your staff members globally once again I believe is another substantial um procedure again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely key to success success of services and minimizing the number of tools platforms and checking account they need for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're indicated to be um I don't think any of us are really doing that for for the thanks
anyway we understand 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 simple as possible for everyone that's associated with those processes and also so picture sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and type of shot to return to everyone so carrying on look why do companies choose to main different checking account there are companies out there doing precisely this for particular nations and I've operated in an organization or lots of businesses doing exactly that I can say it doesn't constantly feel efficient and it does create more work I understand we're not intentionally doing that we're not developing additional work for any person where we do not have to and anybody that's dealing with 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 amount that we are I think lots of reasons one is it's the requirement I believe individuals have actually got so utilized to we require a brand-new checking account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other methods um to to sort of do it so I think there's a range I believe this is a process that requires looking at it needs altering but eventually individuals are extremely stuck with what they recognize
with right um change is a challenging thing we all do not like change um so I believe it's just type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having keeping multiple bank accounts but there's a substantial quantity of intricacy chooses setting up a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for individual people so the intricacy is huge however I believe the sincere answer is modification um people have not been able to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what might almost be identified to be the next Century approximately there is a lot to monitor and this method does position numerous obstacles um so Johnny could you tell us about those challenges yeah obviously so there's a range right there is so
I just 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 Worldwide workers you should have a corner workplace with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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