Find out more about Papaya Global Payroll Faq ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a secure and trustworthy method of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Staff member Website supplies workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global helps business offer competitive benefits bundles to global employees despite the variety of staff members in the business. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source local advantages suppliers in every nation, create regional accounts and have a minimum variety of employees.
The HR capabilities offered by Worldwide HR encompass different functions such as monitoring holiday time, making sure compliance, helping with the procedure of inviting brand-new employees and bidding goodbye to leaving ones, offering a protected online platform for keeping workers' files, and providing support for work permit procedures in case your staff members need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall employment expenses dispersed per location, overall employment expenses per cycle and a lot more.
environments across the globe I provided leadership and technique 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 the business handling and structure external relationships supporting Business customers and solutions along with serving as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for most prominent business worldwide we offer payroll payments and workforce management to all staff member types in over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon great evening depending upon where you are in the world it's beautiful to satisfy 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've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or six years where I've type of had a variety of various functions on the service provider side and also on the vendor side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very very uninspiring and I wish I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business preserve separate
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is especially useful for global organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one nation but when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of factors most notably regulations compliance data security and banking guidelines then there are the large numbers they add further complexity the worldwide Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll design there's frequently an overwhelming number of various systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in large quantities and or extremely really standard there's no real consistency structure we're residing in an age of tech however payroll has actually 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 just blows my mind each time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization spends on international payroll the less of an image they see an absence of visibility also encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of global companies have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes poorly communicated hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the information is delivered to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they count on the essential several procedures 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 obstacles company face when they're making payments to employees or otherwise that's a great concern I constantly throw this back and state what is it what doesn't need to be included right and what does
it require to be thought of there's varying 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 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 anywhere you look best ultimately constructing a knowledge base is absolutely vital but all over you look with payroll payment they are like super payments no if but some babies 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 think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to kind of move on with that it likewise also to add to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is definitely essential that payroll and finance teams work closer together than ever um I'm always astonished when individuals say I've split payroll and payment um if you walk down the street and asked anybody 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 often split and cut up um ultimately it's payroll is an end-to-end process 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 reside in and well-being being more and more essential to add to kind of the level of complexity there's more and more benefits being organ or being offered by businesses across the world so once again you're just aiming to add a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine obstacles or genuine tough type of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to develop extra handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any business has from an expense point of view from an effect viewpoint on staff members it is absolutely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive effect on individuals's well-being and many other elements if individuals aren't paid uh I have actually constantly been amazed entering into this Market type of the last 5 to ten years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just observe when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's perceived externally too. For that reason, it is vital to ensure that jobs like Wi-Fi Global and other essential matters are done properly. Utilizing the first Global Payments very first payroll payment option is a terrific preliminary action towards supplying an extensive payroll solution for workers worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and bank accounts needed for worldwide payroll are crucial factors in achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyhow we understand how how essential 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 simple as possible for everybody that's associated with those procedures and likewise so envision sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions picture getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and really see what was going on and sort of try to get back to everyone so moving on appearance why do companies choose to primary separate savings account there are services out there doing precisely this for specific countries and I've operated in a business or lots of businesses doing precisely that I can state it doesn't always feel efficient and it does create more work I know we're not deliberately doing that we're not producing extra work for anyone where we don't need to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe many reasons one is it's the requirement I believe people have got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I believe this is a procedure that needs looking at it needs changing but ultimately individuals are very stuck to what they recognize
with best um modification is a challenging thing we all do not like modification um so I think it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having keeping several checking account but there's a big amount of complexity opts for establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for specific people so the complexity is big however I believe the sincere answer is modification um individuals haven't been able to change or haven't had always the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is an element of resistance to change but we have actually 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 know what could nearly be figured out to be the next Century approximately there is a lot to keep track of and this approach does posture several difficulties um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I simply did you changed 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 should have a corner workplace with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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