Find out more about Papaya Global Payroll Made Easy ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to managing payments. This offers us with a protected and trustworthy technique of paying to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app enhances my payroll procedure, saving me a significant amount of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Staff member Portal supplies staff members with the capability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to international workers despite the variety of staff members in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source local advantages companies in every country, create local accounts and have a minimum variety of employees.
The HR abilities supplied by Global HR include various functions such as monitoring getaway time, making sure compliance, assisting in the process of welcoming new employees and bidding farewell to departing ones, offering a safe and secure online platform for keeping workers' documents, and offering assistance for work permit treatments in case your staff members require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall employment expenses dispersed per location, overall work expenses per cycle and a lot more.
environments across the globe I supplied management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across business managing and structure external relationships supporting Business customers and services along with functioning as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for many influential business in the world we provide payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon excellent night depending on where you remain in the world it's beautiful to fulfill 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 industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually type of had a range of various roles on the service provider side and likewise on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or so to join all of us work back to back nowadays 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 everyone is um it's nice to to type of like see where everyone originates from and I really 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 really extremely dreary and I wish I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a strategic possession uh we'll also review a wrap-up and that ought to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of common and managing them ends up being increasingly more intricate Worldwide organizations are wanting to discover Solutions and new ways to simplify procedures especially from a payroll and cross-border payment standpoint many organizations preserve separate bank account just for payroll while some have multiple accounts in different nations does it make sense for companies to keep separate bank accounts sometimes in various countries it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational companies simplify the episode complex processes of
making payroll payments properly efficiently safely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how business precisely forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one country however when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of factors most importantly policies compliance information security and banking rules then there are the large numbers they include additional complexity the global Labor force is presently three and a half billion individuals by 2030 it's approximated 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 consider that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll model there's typically a frustrating variety of different systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or very extremely fundamental there's no genuine consistency framework 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 typically with pen and paper which simply blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more a service spends on worldwide payroll the less of a picture they see a lack of visibility also extends to payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of global organizations have expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes improperly interacted hires and terminations along with absence management and system setups and after that when you round it all off and the data is delivered to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they depend on the essential several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to workers or otherwise that's an excellent question I constantly throw this back and state what is it what doesn't need to be included right and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 best ultimately developing a knowledge base is definitely vital but 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 take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is permitting us to kind of move on with that it also as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely crucial that payroll and financing teams work better together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry 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 any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more crucial to contribute to kind of the level of intricacy there's a growing number of benefits being organ or being offered by organizations across the world so again you're simply seeking to add increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real obstacles or genuine difficult kind of pay uses to play to pay people I believe yeah I imply over the last well yeah a couple of years I would definitely state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding info into the next function as it were that's really handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to create additional handoffs in the processes that we operate in they just make them more prompt they make them less effective and they don't make them what they need to be in in an era of tech and an age that you know that we are operating in today there is no reason we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any service has from an expense point of view from an impact viewpoint on workers it is definitely crucial that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging impact on people's wellness and lots of other aspects if people aren't paid uh I have actually always been amazed entering this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just observe when things fail. Nevertheless, when things go right, it's seen as just a regular job. This is how it's viewed externally as well. For that reason, it is important to ensure that jobs like Wi-Fi Global and other crucial matters are done correctly. Utilizing the first Global Payments first payroll payment option is a great preliminary action towards offering a comprehensive payroll solution for staff members worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and bank accounts necessary for international payroll are essential consider attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyhow we understand how how important a function 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 everyone that's associated with those procedures and also so envision sorry I'm simply I was simply gon na state think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing task trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and in fact see what was going on and sort of shot to get back to everybody so carrying on appearance why do business choose to primary different savings account there are services out there doing exactly this for specific countries and I've operated in a service or many companies doing exactly that I can say it doesn't always feel effective and it does develop more work I understand we're not purposely doing that we're not producing extra work for anyone where we do not have to and anybody that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe many factors one is it's the requirement I think people have got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it requires changing but ultimately individuals are extremely stuck to what they recognize
with ideal um change is a difficult thing we all do not like modification um so I believe it's simply type 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 certainly the advantages of having keeping several savings account however there's a huge amount of intricacy goes with establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for individual individuals so the complexity is big however I believe the truthful answer is modification um individuals haven't had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century or so there is a lot to keep track of and this method does posture several obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels 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 dedication to mastering global payroll and payments using 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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