Find out more about Papaya Global Payroll Pricing For Accountants ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and reputable approach of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app simplifies my payroll procedure, conserving me a significant 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.
The Staff member Portal supplies workers with the capability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global assists business provide competitive benefits bundles to global employees regardless of the variety of staff members in the business. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local advantages providers in every nation, develop regional accounts and have a minimum number of workers.
The HR abilities provided by Global HR include different functions such as keeping an eye on holiday time, ensuring compliance, assisting in the procedure of welcoming new workers and bidding goodbye to leaving ones, offering a safe online platform for keeping workers' files, and offering assistance for work permit treatments in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total work expenses distributed per area, overall work costs per cycle and much more.
Internationally, I have actually demonstrated management and strategic know-how in assisting massive populations of over 100,000 workers across 170 countries. Currently, I am responsible for supervising payroll strategies, as pointed out by Mark. My role includes managing and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for the majority of influential business worldwide we provide payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to state 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 remain in the world it's beautiful to fulfill you and thank you very much 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 particularly working on the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually kind of had a range of various functions on the supplier side and also on the supplier side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone originates from and I actually 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 raining here it's very really dreary and I want I was elsewhere at this moment in time all right so let's start 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 different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially beneficial for global organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how business properly forecast their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in enough in one nation however when you're doing it globally it's next level and Beyond it ends up being complex for a variety of reasons most notably guidelines compliance information security and banking rules then there are the sheer numbers they add more 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 more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the conventional payroll design there's often a frustrating variety of different systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in large amounts and or really very 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 frequently with pen and paper and that just blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization invests in global payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide organizations have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry mistakes inadequately interacted hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is shipped to the incorrect location the average 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 all over the world payroll and payments don't run smoothly if they depend on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties company face when they're paying to employees or otherwise that's a great question I always toss this back and state what is it what doesn't need to be consisted of right and what does
it require to be thought of there's varying 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 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 complexity anywhere you look ideal eventually building a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble super payments no if however some infants 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 believe there's now a bit more recognition that payroll payments are definitely basic and innovation is permitting us to kind of move on with that it also too to contribute to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely vital that payroll and finance groups work better together than ever um I'm constantly impressed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work 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 data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more important to contribute to sort of the level of complexity there's increasingly more benefits being organ or being offered by businesses across the world so once again you're simply aiming to add increasingly more payments to this currently complicated 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 genuine difficulties or real challenging kind of pay uses to play to pay people I think yeah I imply over the last well yeah a number 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 groups feeding details into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to develop additional handoffs at the same times that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an age that you understand that we are operating in today there is no reason we are still making this as hard as it needs to be concurred and rightly as you said payroll is the single biggest liability that any service has from an expense viewpoint from an effect point of view on employees it is absolutely critical that it's done properly and on time so what we mean 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 harmful result on people's wellness and lots of other elements if people aren't paid uh I've always been surprised entering into this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm not sure anyone on this type of webinar has actually been informed 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 employees or not um however eventually payroll is such an important cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment option is an excellent initial step um offering an end-to-end payroll service for your staff members internationally once again I believe is another huge um procedure again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely key to success success of services and reducing the variety of tools platforms and checking account they require 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 have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyway we understand how how crucial a role 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 everyone that's involved in those processes and likewise so imagine sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions envision getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and really see what was going on and sort of shot to return to everybody so moving on appearance why do business choose to primary different savings account there are businesses out there doing exactly this for particular nations and I've worked in a service or lots of businesses doing exactly that I can state it doesn't always feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anybody where we do not need to and anybody that's managing 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 factors one is it's the requirement I believe individuals have actually got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I think this is a procedure that needs taking a look at it requires altering however eventually individuals are extremely stuck to what they're familiar
with best um change is a hard thing all of us don't like modification um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having keeping numerous savings account however there's a big quantity of intricacy goes with setting up a bank account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is huge but I believe the truthful answer is change 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 bank account I think you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter however we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to monitor and this method does position a number of difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 workers worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your accomplishments.
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