Find out more about Papaya Global Vs. Quickbooks Payroll ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and trusted method of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
Staff member Website
Employees have access to an Employee Website where they can see their pay slips, wage and tax statements and work documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business provide competitive advantages bundles to international staff members despite the number of employees in the company. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the need to source regional advantages service providers in every country, produce local accounts and have a minimum number of workers.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work expenses distributed per location, overall employment expenses per cycle and much more.
Worldwide, I have actually demonstrated leadership and tactical knowledge in assisting massive populations of over 100,000 workers throughout 170 nations. Currently, I am responsible for managing payroll methods, as pointed out by Mark. My role involves managing and establishing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for many influential companies worldwide we supply payroll payments and workforce management to all employee 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 introduce yourself of course thank you good morning good afternoon excellent night depending on where you remain in the world it's lovely to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and specifically dealing with 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 sort of make a genuine go at that over the last 5 or six years where I've sort of had a range of different functions on the provider side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone comes 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 drizzling here it's very extremely uninspiring and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business maintain different
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is especially useful for international companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for services running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to optimize working capital, and discover how streamlining international payroll payments can change them from a challenging task into a tactical asset.
Handling payroll globally is a daunting job due to various policies, compliance requirements, information security issues, and banking guidelines. The large number of workers and businesses adds to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual processes, data silos, and an absence of combination, leading to disparities and inadequacies. Despite residing in a period of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to provide insights and options to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a company invests in international payroll the less of a photo they see an absence of visibility also reaches payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide services have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes poorly interacted hires and terminations as well as lack management and system configurations and then when you round everything off and the information is shipped to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they depend on the essential multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service 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 does not need to be included best and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy anywhere you look ideal ultimately building a knowledge base is definitely vital 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 kind 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 innovation is permitting us to kind of progress with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm constantly amazed when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone 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 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 people any place they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on wellness and the payment landscape is becoming increasingly intricate. Companies are continuously presenting new advantages and payment alternatives, which adds to the total complexity. Large corporations often divide their payroll and payment processing into separate groups, which can lead to inefficiencies and bottlenecks. In my viewpoint, this doesn't need to hold true. In today's highly sophisticated era, there's no justification for preserving troublesome treatments. Payroll, the business's biggest expense, need to be processed correctly and on time. Even minor hold-ups can negatively affect employees' well-being and have significant consequences. Therefore, it's vital to focus on precise and timely payments.
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just see when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally too. For that reason, it is necessary to make sure that jobs like Wi-Fi Global and other crucial matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment service is an excellent initial action towards supplying a detailed payroll option for staff members worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and bank accounts necessary for international payroll are key factors in achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyhow we know how how essential 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 easy as possible for everyone that's involved in those procedures and also so imagine sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision 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 definitely be a fascinating job trying to clean 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 need days of the week to try to look through them and really see what was going on and sort of shot to return to everyone so moving on look why do companies select to primary separate checking account there are organizations out there doing exactly this for specific countries and I have actually operated in a business or many companies doing precisely that I can say it does not always feel effective and it does produce more work I know we're not purposely doing that we're not producing extra work for anybody where we do not 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 believe many factors one is it's the standard I believe people have got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I think this is a process that requires looking at it requires changing however eventually people are extremely stuck with what they're familiar
with ideal um change is a difficult thing we all don't 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 lot of track of things um I comprehend obviously the benefits of having preserving several savings account however there's a huge amount of complexity goes with establishing a bank account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for individual people so the complexity is substantial but I think the honest answer is change um individuals haven't had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or two there is a lot to keep an eye on and this approach does present numerous difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I just did you changed 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 International staff members you deserve a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global