Find out more about Papaya Global Payroll San Francisco ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and reputable method of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app streamlines my payroll procedure, conserving me a substantial amount of time monthly. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Employee Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and employment documents. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies use competitive advantages packages to international employees no matter the variety of workers in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the need to source local benefits providers in every country, create local accounts and have a minimum number of employees.
The HR capabilities supplied by Global HR incorporate different functions such as keeping an eye on holiday time, ensuring compliance, helping with the procedure of inviting new workers and bidding farewell to departing ones, offering a safe and secure online platform for saving employees' documents, and providing support for work allow treatments in case your employees need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total work expenses dispersed per area, overall work costs per cycle and far more.
environments around the world I offered 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 stated I work across the business managing and building external relationships supporting Business clients and services along with serving as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for most influential companies on the planet we supply payroll payments and workforce management to all staff member types in over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent evening depending on where you are in the world it's charming to satisfy 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 remained in the payments industry for over ten years and particularly 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 decided to type of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply offer everybody another number 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 kind of like see where everybody originates from and I really do hope it's much sunnier than it is 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 extremely extremely dreary and I want I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is especially helpful for global organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of factors most significantly regulations compliance information security and banking guidelines then there are the large numbers they add further complexity the global Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the standard payroll model there's typically a frustrating number of various systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in large quantities and or extremely really basic there's no real consistency structure we're residing in a period of tech however payroll has actually 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 think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that gives me sleepless nights and rather frankly the more an organization invests in international payroll the less of a photo they see an absence of presence likewise reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal almost half of international organizations have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors badly interacted hires and terminations as well as absence management and system configurations and then when you round everything off and the data is delivered to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as 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 necessary 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 company face when they're making payments to workers or otherwise that's an excellent concern I always throw this back and say what is it what doesn't need to be consisted of best and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 have to pay from the consumer's own in-country account so there's complexity anywhere you look right ultimately building a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to kind of progress with that it also also to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and finance teams work better together than ever um I'm constantly impressed when people say 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 occupation would they divide the payroll payment from estimation 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 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
The modern-day world places a high worth on wellness and the payment landscape is becoming progressively elaborate. Services are constantly introducing new advantages and payment alternatives, which contributes to the general intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's technologically innovative era, there's no justification for maintaining cumbersome treatments. Payroll, the business's greatest expense, must be processed properly and on time. Even slight hold-ups can negatively affect employees' wellness and have significant effects. Therefore, it's critical to prioritize precise and timely payments.
payroll team get um so I'm not exactly sure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view 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 a terrific primary step um supplying an end-to-end payroll service for your employees internationally once again I think is another huge um procedure again lining up and ensuring you have standardization Worldwide processes all of those things are definitely crucial to success success of organizations and reducing the number of tools platforms and checking account they need for their Global 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 ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we understand how how important a role 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 involved in those procedures and also so envision sorry I'm simply I was just gon na say envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job attempting to clean all those up for sure oh absolutely I can't think of 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 sort of try to return to everyone so proceeding look why do companies choose to main separate savings account there are businesses out there doing precisely this for specific nations and I have actually operated in an organization or numerous organizations doing precisely that I can say it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not creating additional work for any person where we do not have to and any person that's managing 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 quantity that we are I think numerous factors one is it's the standard I believe individuals have got so used to we require a brand-new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I believe this is a process that needs looking at it requires altering but eventually individuals are really stuck to what they're familiar
with ideal um change is a hard thing we all don't like modification um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having keeping multiple checking account however there's a big quantity of complexity opts for establishing a checking account maintaining it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is huge however I think the truthful answer is change um individuals have not been able to alter or have not had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to alter however we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century or two there is a lot to keep an eye on and this approach does present several obstacles um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this enhanced capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your achievements.
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