Find out more about Papaya Global Payroll Phone ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a secure and trustworthy technique of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Worker Portal
Workers have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive advantages plans to international employees no matter the variety of staff members in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source local benefits companies in every nation, produce regional accounts and have a minimum number of employees.
The HR capabilities offered by International HR incorporate numerous functions such as monitoring vacation time, guaranteeing compliance, helping with the process of welcoming brand-new workers and bidding farewell to leaving ones, offering a secure online platform for saving employees' files, and supplying assistance for work allow treatments in case your staff members require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total employment costs distributed per location, overall employment costs per cycle and much more.
Internationally, I have actually demonstrated management and tactical knowledge in assisting large-scale populations of over 100,000 staff members across 170 nations. Currently, I am responsible for managing payroll methods, as discussed by Mark. My function includes handling and developing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for a lot of influential companies on the planet we offer payroll payments and labor force management to all staff member types in 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 introduce yourself naturally thank you good morning good afternoon good night depending on where you are 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 have actually remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've type of had a variety of different functions on the provider side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely really gloomy and I wish I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies keep separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical property uh we'll likewise review a wrap-up which ought to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on moving 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 handling them ends up being increasingly more intricate Worldwide organizations are looking to discover Solutions and brand-new ways to improve procedures especially from a payroll and cross-border payment standpoint many organizations keep different bank account just for payroll while some have several accounts in various countries does it make good sense for companies to preserve separate checking account sometimes in different countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets also called virtual wallets play in assisting international companies streamline the episode complex procedures of
making payroll payments accurately effectively firmly and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in adequate in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of factors most significantly policies compliance data security and banking rules then there are the large numbers they add additional intricacy the international Labor force is currently 3 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 consider that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll design there's typically a frustrating number of various systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in large amounts and or extremely extremely fundamental there's no real consistency structure we're residing in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just 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 just 11 of services state they have Labor force information in real time that's another number that gives me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of an image they see a lack of presence also extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction nearly half of worldwide services have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes poorly interacted hires and terminations along with absence management and system setups and then when you round everything off and the information is delivered to the wrong location the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they count on the essential several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties business face when they're making payments to workers or otherwise that's a great question I always toss this back and say what is it what does not need to be consisted of right and what does
it need to be considered there's varying Bank information 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 consumer's own in-country account so there's intricacy wherever you look right eventually developing a knowledge base is absolutely important however everywhere you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort 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 as well to contribute to that payroll and financing require to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely essential that payroll and finance teams work more detailed together than ever um I'm always astonished when individuals say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data 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 puts a high value on wellness and the compensation landscape is ending up being significantly elaborate. Organizations are constantly presenting brand-new advantages and payment options, which adds to the overall complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this doesn't need to hold true. In today's highly advanced age, there's no justification for preserving cumbersome treatments. Payroll, the company's biggest cost, must be processed correctly and on time. Even minor delays can negatively impact staff members' wellness and have far-reaching consequences. For that reason, it's crucial to prioritize accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but eventually payroll is such an essential cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely vital that all of this stuff is done properly so leveraging the very first International Payments first payroll payment service is an excellent first step um supplying an end-to-end payroll solution for your workers globally once again I believe is another substantial um process again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of companies and reducing the variety of tools platforms and bank accounts they require for their Worldwide 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've never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyway we know 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 easy as possible for everyone that's involved in those procedures and likewise so envision sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and actually see what was going on and type of shot to get back to everyone so moving on appearance why do business choose to main separate bank accounts there are businesses out there doing precisely this for specific countries and I have actually operated in a business or many organizations doing precisely that I can state it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not creating additional work for any person where we do not have to and any person that's handling that procedure 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 numerous reasons one is it's the requirement I believe individuals have got so used to we need a new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I believe this is a procedure that needs looking at it requires changing but eventually individuals are really stuck with what they recognize
with ideal um modification is a difficult thing we all do not like change um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having preserving several checking account but there's a substantial quantity of complexity chooses setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private individuals so the intricacy is huge but I believe the sincere answer is change um people have not had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to change but we've constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century or two there is a lot to track and this method does present numerous obstacles um so Johnny might you tell us about those difficulties yeah of course 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 Global staff members you deserve a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global