Find out more about Papaya Global Payroll Software Tutorial ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and reputable technique of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app improves my payroll procedure, saving me a substantial amount of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
Staff member Portal
Employees have access to a Worker Portal where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive benefits bundles to international staff members despite the variety of staff members in the business. The business can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local benefits service providers in every nation, develop regional accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, total employment costs distributed per area, overall work expenses per cycle and much more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout business handling and building external relationships supporting Business clients and solutions as well as serving as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential business worldwide we supply payroll payments and workforce management to all employee enters over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon good evening depending upon where you are in the world it's beautiful to meet 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 remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I have actually kind of had a variety of different roles on the provider side and also on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really 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 really really dreary and I want I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies maintain 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 International payroll payments as a tactical possession uh we'll also review a recap which should leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being more and more typical and handling them ends up being increasingly more complex Worldwide organizations are looking to discover Solutions and brand-new ways to improve procedures particularly from a payroll and cross-border payment perspective many organizations keep separate bank account just for payroll while some have multiple accounts in different countries does it make sense for business to preserve separate savings account in some cases in various nations it does but just for payroll is there a better method what function do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies simplify the episode complex processes of
making payroll payments precisely effectively safely and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business properly forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of reasons most significantly regulations compliance information security and banking guidelines then there are the large numbers they include further complexity the worldwide Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 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 all over the world in the traditional payroll design there's typically a frustrating number of different systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in large quantities and or really very standard there's no real consistency structure we're residing 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 typically with pen and paper which simply blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization spends on global payroll the less of an image they see a lack of exposure also encompasses payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of international organizations have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes badly communicated hires and terminations as well as lack management and system setups and then when you round everything off and the information is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they rely on the essential multiple procedures 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 challenges company face when they're making payments to staff members or otherwise that's a great concern I constantly toss this back and state what is it what doesn't need to be included best and what does
it need to be thought of there's differing 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 client's own in-country account so there's intricacy anywhere you look ideal ultimately building a knowledge base is absolutely important but all over you look with payroll payment they resemble very payments no if however some babies 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 think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is permitting us to kind of move forward with that it likewise as well to add to that payroll and financing require to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is absolutely important that payroll and financing groups work closer together than ever um I'm always impressed when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on wellness and the compensation landscape is becoming significantly elaborate. Organizations are constantly presenting new advantages and payment options, which contributes to the total complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can cause inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's technologically innovative age, there's no justification for maintaining cumbersome procedures. Payroll, the company's most significant expense, should be processed correctly and on time. Even minor delays can adversely affect employees' well-being and have far-reaching consequences. For that reason, it's important to focus on precise and prompt payments.
payroll team get um so I'm not exactly sure anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box exercise 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 definitely essential that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment option is a great primary step um offering an end-to-end payroll solution for your staff members worldwide once again I believe is another huge um procedure again aligning and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of organizations and minimizing the variety of tools platforms and savings account they need for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're suggested to be um I don't think any of us are in fact doing that for for the thanks
anyhow we know how how important a function 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 everybody that's associated with those processes and likewise so imagine sorry I'm just I was just gon na say envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing task trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and actually see what was going on and sort of shot to get back to everyone so carrying on look why do business select to main separate checking account there are organizations out there doing exactly this for specific nations and I have actually operated in a company or lots of businesses doing precisely that I can say it does not always feel effective and it does create more work I know we're not purposely doing that we're not creating 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 think many factors one is it's the standard I believe individuals have got so utilized to we require a new bank 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 think it's simply been the requirement and the norm individuals have adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs taking a look at it needs changing but eventually individuals are really stuck with what they're familiar
with right um change is a hard thing we all do not like modification um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having preserving several bank accounts however there's a big quantity of intricacy opts for setting up a savings account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is big but I think the truthful answer is modification um people have not had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century approximately there is a lot to monitor and this approach does present numerous challenges um so Johnny could you inform us about those obstacles yeah of course so there's a variety right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you deserve a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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