Find out more about Papaya Global Payroll Paying A S Corp ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and reputable technique of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Employee Portal
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive benefits packages to global employees despite the number of employees in the business. The company can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source local benefits providers in every country, develop local accounts and have a minimum variety of employees.
The HR abilities provided by Worldwide HR encompass different functions such as keeping an eye on trip time, guaranteeing compliance, assisting in the process of welcoming brand-new staff members and bidding goodbye to leaving ones, using a safe online platform for storing employees' documents, and offering support for work permit procedures in case your employees require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall employment expenses distributed per place, total work costs per cycle and far more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business handling and building external relationships supporting Business customers and solutions along with functioning as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many influential companies on the planet we supply payroll payments and labor force management to all employee key ins over 160 countries I am pleased to say that we likewise 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 remain in the world it's beautiful to satisfy you and thank you quite 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 particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've kind of had a range of various functions on the company side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone 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 really really bleak and I want I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies preserve separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical possession uh we'll likewise discuss a wrap-up and that should leave his time at the very very 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 International workforces end up being increasingly more common and managing them becomes more and more complex Global organizations are seeking to discover Solutions and new ways to streamline processes especially from a payroll and cross-border payment standpoint many companies keep different savings account just for payroll while some have numerous accounts in various nations does it make good sense for companies to keep different savings account in some cases in different countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international business simplify the episode complex processes of
making payroll payments precisely effectively securely and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of reasons most importantly guidelines compliance information security and banking rules then there are the large numbers they add further intricacy the international 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 consider that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll model there's often a frustrating variety of various systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or really really standard there's no genuine consistency structure we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind each time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a company invests in worldwide payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of international organizations have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors poorly communicated hires and terminations in addition to lack management and system setups and after that when you round all of it off and the data is shipped to the wrong place the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they rely on the essential several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges service face when they're making payments to workers or otherwise that's a good question I constantly throw this back and say what is it what doesn't require to be consisted of best and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 need to pay from the customer's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is absolutely important 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 kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and innovation is allowing us to kind of move forward with that it also as well to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely important that payroll and financing groups work closer together than ever um I'm always surprised when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry 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 data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to contribute to kind of the level of complexity there's more and more advantages being organ or being offered by services across the world so again you're simply looking to add a growing number of payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real challenges or genuine tough sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a couple of decades I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually managing the payment side of things however you understand 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 create additional handoffs in the processes that we operate in they just make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and an era that you know that we are operating in today there is no reason why we are still making this as tough as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any organization has from an expense point of view from an effect viewpoint on workers it is definitely important 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 have to be done right it has the biggest destructive result on people's well-being and lots of other elements if individuals aren't paid uh I have actually always been amazed entering this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an essential cycle all of us hear about it when it fails everyone jumps up and down when it fails but when it goes right it's just 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 absolutely essential that all of this things is done correctly so leveraging the first Global Payments first payroll payment option is a great first step um supplying an end-to-end payroll solution for your workers worldwide again I think is another big um process again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely essential to success success of companies and lowering the variety of tools platforms and savings account they need for their Worldwide 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 expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I don't think any of us are really doing that for for the thanks
anyway we know how how important 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 everybody that's involved in those processes and also so imagine sorry I'm simply I was simply gon na say 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 talking about hundreds of thousands potentially Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job trying to clean up 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 look through them and in fact see what was going on and sort of try to return to everyone so carrying on appearance why do business pick to primary different bank accounts there are businesses out there doing precisely this for particular countries and I've operated in a business or many companies doing precisely that I can state it does not constantly feel effective and it does create more work I understand we're not deliberately doing that we're not developing additional work for any person where we don't need to and any person 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 think numerous reasons one is it's the requirement I think individuals have got so utilized to we need a brand-new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other ways 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 altering however ultimately individuals are very stuck with what they're familiar
with right um modification is a hard thing we all don't like modification um so I think it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having preserving several savings account but there's a big amount of complexity opts for establishing a bank account maintaining it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for individual people so the complexity is big however I believe the sincere answer is modification um individuals have not had the ability to change or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to monitor and this method does present several difficulties um so Johnny might you tell us about those challenges yeah obviously 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 actually gotten another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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