Find out more about Square Vs Papaya Global Payroll ... 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 different Chief Financial Officer specifically committed to handling payments. This provides us with a protected and reputable method of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Staff member Portal supplies staff members with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to global employees regardless of the variety of employees in the business. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source regional benefits providers in every country, create regional accounts and have a minimum number of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall work expenses distributed per area, overall work expenses per cycle and a lot more.
environments across the globe I supplied management and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work across business managing and building external relationships supporting Enterprise clients and services as well as functioning as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for many influential business in the world we provide payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon great evening depending on where you remain in the world it's lovely 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 been in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've kind of had a range of different roles on the provider side and likewise on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or so 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 already simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I truly do hope it's much sunnier than it is 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 really bleak and I wish 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 managing International payroll why companies keep separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical asset uh we'll also go over a wrap-up and that needs to leave his time at the very really 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 Global labor forces end up being increasingly more common and handling them ends up being a growing number of complex Worldwide companies are seeking to discover Solutions and brand-new ways to enhance processes especially from a payroll and cross-border payment viewpoint many organizations maintain separate savings account just for payroll while some have multiple accounts in various nations does it make good sense for companies to maintain different bank accounts in some cases in various nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international business simplify the episode complex procedures of
making payroll payments properly efficiently firmly and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in enough in one country however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of factors most notably guidelines compliance information security and banking rules then there are the large numbers they include additional intricacy the international Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the traditional payroll design there's typically an overwhelming variety of different systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in large quantities and or very very basic there's no real consistency structure we're residing in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite honestly the more a service spends on international payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction nearly half of global companies have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors improperly communicated hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is delivered to the wrong location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they depend on the required multiple processes 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 business face when they're making payments to workers or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't require to be included best 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 timespan there's payment abilities 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 complexity any place you look right ultimately building a knowledge base is absolutely critical but everywhere you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to type of progress with that it also too to add to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is definitely important that payroll and financing groups work more detailed together than ever um I'm always amazed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation 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 people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high value on well-being and the settlement landscape is ending up being progressively complex. Companies are continually presenting brand-new benefits and payment alternatives, which adds to the total intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can lead to inadequacies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technically innovative period, there's no justification for maintaining troublesome treatments. Payroll, the business's greatest cost, must be processed properly and on time. Even slight delays can negatively impact employees' well-being and have significant consequences. Therefore, it's vital to focus on precise and timely payments.
payroll group get um so I'm not sure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely vital that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment service is a terrific first step um providing an end-to-end payroll service for your workers internationally once again I believe is another substantial um process again aligning and ensuring you have standardization Global procedures all of those things are absolutely key to success success of companies and decreasing the number of tools platforms and checking account they require for their Worldwide 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 had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're indicated to be um I do not believe any of us are really doing that for for the thanks
anyhow we know how how crucial 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 involved in those processes and likewise so envision sorry I'm just I was just gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and kind of shot to get back to everybody so carrying on look why do companies choose to main different checking account there are organizations out there doing precisely this for specific nations and I've operated in an organization or numerous companies doing exactly that I can state it does not always feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for any person where we do not have to and any person that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the requirement I think people have actually got so used to we need a brand-new savings account we open an entity and rightly so you require 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 individuals have adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a procedure that requires looking at it needs changing but ultimately people are extremely stuck to what they're familiar
with ideal um modification is a challenging thing all of us do not like change um so I believe it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having keeping numerous bank accounts but there's a huge amount of complexity chooses setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is huge however I believe the truthful answer is modification um people have not been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've always done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what could practically be identified to be the next Century or so there is a lot to keep track of and this technique does position a number of obstacles um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I simply did you switched our Business 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 Worldwide workers you are worthy of a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global