Find out more about Papaya Global Payroll Phone App ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a secure and dependable approach of making payments to our 10,000 employees worldwide.}
The cutting-edge global payroll management app simplifies my payroll process, conserving me a considerable quantity of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
Staff member Portal
Workers have access to an Employee Portal where they can view their pay slips, wage and tax statements and work documents. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive advantages bundles to worldwide workers despite the number of employees in the business. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the need to source regional benefits suppliers in every country, produce regional accounts and have a minimum variety of workers.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total employment costs dispersed per place, overall work expenses per cycle and far more.
environments around the world I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work across the business handling and building external relationships supporting Business customers and solutions in addition to functioning as an advisor 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 prominent companies on the planet we offer payroll payments and labor force management to all staff member enters 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 obviously thank you good morning good afternoon good evening depending upon where you are in the world it's charming to meet 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 complexity the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of various functions on the company side and likewise on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already simply 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 certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely bleak and I wish I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business keep different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Global payroll payments as a strategic asset uh we'll also review a recap and that must leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more typical and managing them ends up being more and more complex Global companies are looking to discover Solutions and brand-new methods to simplify procedures particularly from a payroll and cross-border payment perspective many organizations maintain separate bank account just for payroll while some have numerous accounts in different nations does it make sense for business to preserve different savings account sometimes in different countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international business enhance the episode complex processes of
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in adequate in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a variety of reasons most importantly policies compliance information security and banking rules then there are the large numbers they add further complexity the global Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the traditional payroll model there's often a frustrating number of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in large amounts and or extremely really basic there's no genuine consistency structure we're residing in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more an organization invests in international payroll the less of a picture they see a lack of exposure also reaches payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the transaction nearly half of global services have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors poorly interacted hires and terminations along with absence management and system configurations and after that when you round all of it off and the information is delivered to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they depend on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're paying to workers or otherwise that's a good question I always toss this back and state what is it what does not need to be consisted of ideal and what does
it need 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 timespan 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 customer's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble 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 in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to type of move forward with that it also also to add to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work better together than ever um I'm constantly astonished when people say I have actually divided 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 calculation I would say no so why do we as a market 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 information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on well-being and the payment landscape is ending up being progressively detailed. Services are continually introducing new benefits and payment options, which adds to the total complexity. Big corporations frequently divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my opinion, this does not need to be the case. In today's highly innovative era, there's no validation for preserving troublesome treatments. Payroll, the company's most significant cost, must be processed correctly and on time. Even small hold-ups can adversely affect staff members' wellness and have significant consequences. For that reason, it's critical to focus on accurate and prompt payments.
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only notice when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's viewed externally also. For that reason, it is important to make sure that jobs like Wi-Fi International and other vital matters are done properly. Utilizing the first Global Payments first payroll payment option is a terrific preliminary action towards offering a comprehensive payroll solution for employees worldwide. Standardization, worldwide processes, and minimizing the number of tools, platforms, and savings account essential for global payroll are crucial consider accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things do not go as planned. Eventually, we do not do it for the gratitude.
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 easy as possible for everyone that's involved in those procedures and also so imagine sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job attempting to clean up 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 need days of the week to try to check out them and actually see what was going on and sort of try to get back to everyone so moving on appearance why do business choose to primary separate checking account there are companies out there doing precisely this for specific nations and I've operated in an organization or numerous companies doing exactly that I can state it does not always feel efficient and it does create more work I understand we're not purposely doing that we're not developing extra work for anyone where we don't have to and anyone that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the requirement I think people have actually got so utilized to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have 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 range I think this is a procedure that needs taking a look at it requires altering but eventually individuals are very stuck to what they recognize
with best um modification is a difficult thing we all don't like change um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having maintaining numerous bank accounts but there's a big amount of complexity goes with setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the intricacy is big however I believe the truthful response is change um individuals have not been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change but we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could almost be determined to be the next Century or so there is a lot to keep an eye on and this technique does pose several challenges um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this improved ability, I have effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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