Find out more about Papaya Global Payroll Vs Adp Payroll ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly committed to managing payments. This provides us with a protected and reliable approach of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app simplifies my payroll process, saving me a substantial quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Staff member Portal
Workers have access to a Worker Portal where they can view their pay slips, wage and tax statements and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive advantages plans to global workers regardless of the number of employees in the company. The business can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source regional benefits suppliers in every nation, create regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall work costs dispersed per area, overall work costs per cycle and far more.
environments around the world I offered leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business managing and structure external relationships supporting Business customers and solutions along with acting as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential companies on the planet we supply payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent evening depending on where you remain in the world it's beautiful to fulfill 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 ten years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of various functions on the provider side and likewise on the vendor side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll type 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 type of like see where everybody originates from and I truly do hope it's much sunnier than it remains 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 extremely bleak and I want I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Global payroll payments as a tactical possession uh we'll likewise discuss a wrap-up and that must leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more typical and handling them ends up being increasingly more complex International organizations are seeking to discover Solutions and new methods to simplify procedures particularly from a payroll and cross-border payment perspective lots of companies keep different checking account just for payroll while some have multiple accounts in various nations does it make sense for companies to maintain separate bank accounts in some cases in different nations it does but just for payroll exists a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping international business improve the episode complex procedures of
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for organizations running globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll expenses to optimize working capital, and discover how improving global payroll payments can change them from a burdensome job into a strategic property.
Managing payroll globally is a daunting task due to various regulations, compliance requirements, information security issues, and banking rules. The sheer variety of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently result in manual procedures, information silos, and an absence of combination, resulting in inconsistencies and inefficiencies. Regardless of living in an era of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to provide insights and solutions to simplify and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more a business invests in worldwide payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide businesses have actually 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 bad HCM information data entry errors poorly communicated hires and terminations as well as lack management and system configurations and then when you round everything off and the data is shipped to the wrong location the average 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 count on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're paying to staff members or otherwise that's a good concern I always toss this back and state what is it what does not require to be included ideal and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 customer's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like very payments no if however some children 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 absolutely fundamental and technology is allowing us to kind of move on with that it also also to add to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is definitely important that payroll and finance groups work closer together than ever um I'm constantly astonished when individuals 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 divide the payroll payment from calculation I would say no so why do we as an industry 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 information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on well-being and the payment landscape is becoming progressively elaborate. Organizations are continually presenting new benefits and payment options, which contributes to the total intricacy. Big corporations typically divide their payroll and payment processing into separate teams, which can result in inadequacies and bottlenecks. In my opinion, this does not have to hold true. In today's technically innovative age, there's no validation for maintaining troublesome procedures. Payroll, the company's most significant cost, should be processed properly and on time. Even minor delays can negatively impact employees' wellness and have far-reaching repercussions. Therefore, it's crucial to focus on accurate and prompt payments.
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's perceived externally too. Therefore, it is essential to make sure that tasks like Wi-Fi International and other crucial matters are done correctly. Utilizing the first Global Payments first payroll payment option is a fantastic initial step towards supplying a comprehensive payroll service for employees worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and checking account needed for global payroll are key consider achieving organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyhow we understand how how crucial 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 imagine sorry I'm just I was simply gon na say picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions picture getting that many thank you notes 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 definitely I can't think of 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 really see what was going on and type of try to return to everybody so carrying on look why do business pick to main separate savings account there are companies out there doing exactly this for particular nations and I've operated in a service or lots of businesses doing precisely that I can state it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not creating additional work for anyone where we don't have to and any person 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 factors one is it's the standard I believe people have actually got so used to we require a new bank account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I think this is a procedure that requires taking a look at it needs altering but ultimately people are extremely stuck to what they recognize
with right um modification is a challenging thing we all do not like modification um so I think it's simply type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having maintaining numerous checking account however there's a huge amount of complexity opts for setting up a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for private people so the complexity is big however I think the truthful response is change um people have not been able to change or haven't had necessarily the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be identified to be the next Century or so there is a lot to keep track of and this technique does position several obstacles um so Johnny could you inform us about those challenges yeah of course so there's a range 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you should have a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global