Find out more about Does Papaya Global ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and reputable technique of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, saving me a considerable quantity of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Employee Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to international employees despite the number of staff members in the company. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every nation, create local accounts and have a minimum number of workers.
The HR abilities supplied by Global HR incorporate various functions such as monitoring getaway time, ensuring compliance, helping with the process of welcoming new employees and bidding farewell to leaving ones, providing a protected online platform for keeping employees' files, and supplying support for work allow procedures in case your workers require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total employment costs dispersed per location, total work costs per cycle and a lot more.
environments around the world I supplied management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across business handling and structure external relationships supporting Enterprise clients and solutions along with functioning as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for most influential companies in the world we supply payroll payments and workforce management to all staff member types in over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon good evening depending upon where you remain in the world it's charming to fulfill 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 specifically working on the payroll and payment sector for over seven years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually type of had a range of various roles on the provider side and likewise on the vendor side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or two to join we all 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 currently simply to hear where everyone 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 sunshine is it it's not no it's it's raining here it's really really uninspiring and I wish I was elsewhere at this moment in time fine 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 handling International payroll why companies preserve separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll also discuss a recap and that ought to leave his time at the extremely 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 Worldwide workforces become a growing number of common and managing them becomes increasingly more intricate Global organizations are looking to discover Solutions and brand-new methods to simplify procedures particularly from a payroll and cross-border payment viewpoint lots of companies keep separate checking account just for payroll while some have numerous accounts in different nations does it make sense for companies to maintain different savings account sometimes in various countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies enhance the episode complex processes of
Guaranteeing precise, efficient, and prompt payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how business anticipate payroll expenses to optimize working capital, and discover how simplifying international payroll payments can transform them from a troublesome task into a strategic asset.
Handling payroll globally is a complicated job due to numerous regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of employees and services adds to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual processes, data silos, and a lack of combination, causing disparities and inadequacies. Despite living in an era of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to supply insights and services to streamline and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a company invests in international payroll the less of an image they see an absence of visibility likewise extends to payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal almost half of global organizations have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors poorly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is delivered to the incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they depend on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to staff members or otherwise that's a great concern I constantly toss this back and say what is it what doesn't need to be included ideal and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 intricacy wherever you look right ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type 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 innovation is enabling us to type of progress with that it also too to add to that payroll and finance need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is definitely crucial that payroll and finance teams work better together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever 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 progressively elaborate. Companies are continuously presenting brand-new advantages and payment choices, which contributes to the general complexity. Large corporations frequently divide their payroll and payment processing into different teams, which can lead to inefficiencies and traffic jams. In my opinion, this does not have to hold true. In today's technologically innovative era, there's no reason for keeping troublesome treatments. Payroll, the business's greatest expense, need to be processed properly and on time. Even slight hold-ups can adversely impact workers' well-being and have significant repercussions. For that reason, it's vital to prioritize precise and timely payments.
payroll team get um so I'm unsure anyone on this kind of webinar has 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 staff members or not um however ultimately payroll is such an essential cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise 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 absolutely essential that all of this stuff is done correctly so leveraging the very first Worldwide Payments very first payroll payment option is a fantastic initial step um providing an end-to-end payroll option for your employees worldwide again I think is another huge um process once again lining up and guaranteeing you have standardization International processes all of those things are definitely essential to success success of services and decreasing the number of tools platforms and savings 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 ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand how how crucial 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 simple as possible for everybody that's associated with those processes and likewise so picture sorry I'm simply I was just gon na say envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting task trying to clean 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 attempt to browse them and in fact see what was going on and sort of shot to get back to everyone so proceeding appearance why do companies pick to primary separate savings account there are businesses out there doing exactly this for particular nations and I have actually worked in a company or many companies doing exactly that I can state it doesn't constantly feel efficient 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 need to and any person that's managing 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 amount that we are I think lots of reasons one is it's the standard I think people have actually got so utilized to we require a new checking 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 just been the standard and the norm the people have adopted and continue to do over years and years passed by to contribute 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 believe there's a variety I believe this is a procedure that requires taking a look at it requires changing however eventually individuals are very stuck to what they're familiar
with best um change is a challenging thing we all don't like modification um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having preserving several bank accounts but there's a big quantity of complexity goes with establishing a checking account keeping it ensuring it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is substantial but I believe the truthful answer is modification um people haven't been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could practically be determined to be the next Century or two there is a lot to track and this technique does pose a number of challenges um so Johnny could you tell us about those difficulties yeah of course 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 handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your achievements.
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