Find out more about Papaya Global Payroll Versus Adp ... 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 acquired a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and trusted method of paying to our 10,000 workers worldwide.}
The advanced worldwide payroll management app simplifies my payroll procedure, saving me a considerable amount of time every month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Staff member Portal offers employees with the capability to gain access to and view important documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global helps business provide competitive advantages bundles to worldwide staff members regardless of the number of employees in the company. The business can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source local benefits providers in every country, develop regional accounts and have a minimum number of employees.
The HR capabilities offered by International HR incorporate different functions such as monitoring trip time, ensuring compliance, facilitating the procedure of welcoming brand-new workers and bidding farewell to departing ones, providing a protected online platform for saving employees' files, and offering assistance for work permit procedures in case your staff members need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, overall employment costs dispersed per area, overall work expenses per cycle and far more.
environments across the globe I provided leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work across business managing and building external relationships supporting Enterprise customers and options in addition to serving as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent companies in the world we provide payroll payments and labor force management to all worker types in 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 obviously thank you good morning excellent afternoon great night depending on where you remain in the world it's lovely 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 been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or six years where I've type of had a variety of different roles on the company side and also on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I truly 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 really extremely dreary and I wish I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic possession for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and prompt payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to optimize working capital, and discover how improving international payroll payments can transform them from a troublesome job into a strategic property.
Managing payroll globally is a challenging job due to different regulations, compliance requirements, information security issues, and banking rules. The sheer variety of employees and businesses contributes to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and an absence of combination, causing disparities and inefficiencies. In spite of living in an era of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to supply insights and options to streamline and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more a company invests in worldwide payroll the less of a picture they see an absence of exposure also encompasses payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction almost half of international companies have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations along with lack management and system configurations and then when you round everything off and the data is delivered to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they rely on the necessary 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 difficulties business face when they're making payments to staff members or otherwise that's a good concern I always toss this back and say what is it what does not need to be included ideal and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy wherever you look best ultimately constructing 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 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 basic and innovation is allowing us to sort of move on with that it also also to add to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely imperative that payroll and financing groups work more detailed together than ever um I'm constantly astonished when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession 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 often 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 anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more crucial to add to type of the level of complexity there's increasingly more advantages being organ or being provided by companies throughout the world so once again you're simply seeking to include a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real difficulties or genuine challenging type of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a couple of years I would definitely state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding details into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we require to produce additional handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and a period that you understand that we are working in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any company has from a cost viewpoint from an impact perspective on workers it is definitely vital that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the greatest detrimental result on people's well-being and many other aspects if people aren't paid uh I've constantly been astonished entering this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this kind 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 employees or not um but ultimately payroll is such an essential cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done correctly so leveraging the very first International Payments first payroll payment solution is a great primary step um offering an end-to-end payroll option for your staff members globally again I think is another big um procedure again aligning and guaranteeing you have standardization International procedures all of those things are definitely crucial to success success of services and minimizing the variety of tools platforms and checking account they require for their Worldwide payroll too couldn't 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 expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyhow 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 simple as possible for everyone that's involved in those procedures and also so envision sorry I'm just I was simply 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 numerous thousands potentially Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but 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 was the case um you 'd require days of the week to try to look through them and in fact see what was going on and type of shot to return to everybody so moving on look why do business pick to main different checking account there are services out there doing exactly this for specific countries and I've operated in a company or lots of services doing precisely that I can say it doesn't constantly feel effective and it does develop more work I know we're not purposely doing that we're not producing additional work for anyone where we do not need to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the standard I think individuals have actually got so utilized to we need a brand-new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have actually 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 many other methods um to to sort of do it so I think there's a range I believe this is a process that needs taking a look at it needs changing but ultimately individuals are very stuck with what they're familiar
with ideal um modification is a hard thing all of us don't like change um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having preserving multiple checking account however there's a substantial amount of intricacy chooses establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific individuals so the intricacy is huge however I think the honest answer is modification um individuals have not had the ability to change or haven't had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be figured out to be the next Century or so there is a lot to keep track of and this method does present numerous obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
Sure Payroll Vs Papaya Global