Find out more about Papaya Global Argentina ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and dependable approach of paying to our 10,000 workers worldwide.}
The innovative worldwide payroll management app streamlines my payroll procedure, conserving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Staff member Portal provides employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to worldwide workers no matter the variety of workers in the business. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local benefits suppliers in every nation, create local accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall work expenses distributed per place, overall work expenses per cycle and much more.
environments around the world I supplied management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business managing and structure external relationships supporting Enterprise clients and services as well as functioning as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for the majority of prominent companies worldwide we supply payroll payments and workforce management to all worker types in over 160 countries I am pleased to say 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 good night depending upon 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 market for over ten years and particularly dealing with 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 kind of make a real go at that over the last five or 6 years where I have actually sort of had a variety of various roles on the provider side and likewise on the supplier side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds approximately to join all of us 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 already just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I truly 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 really very dreary and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why business keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a tactical property uh we'll also discuss a wrap-up and that should leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of common and managing them becomes a growing number of intricate Global organizations are aiming to discover Solutions and brand-new methods to streamline procedures especially from a payroll and cross-border payment standpoint many organizations maintain different savings account just for payroll while some have numerous accounts in various nations does it make sense for business to maintain separate checking account sometimes in different countries it does but just for payroll is there a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international business enhance the episode complex processes of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for companies operating globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, learn how business forecast payroll expenses to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a troublesome task into a tactical asset.
Handling payroll globally is a challenging task due to different regulations, compliance requirements, information security concerns, and banking guidelines. The large number of staff members and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently lead to manual processes, data silos, and an absence of combination, resulting in disparities and inadequacies. Regardless of living in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to provide insights and solutions to streamline and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more a company spends on international payroll the less of a photo they see an absence of presence likewise extends to payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of worldwide organizations have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes inadequately interacted hires and terminations in addition to absence management and system configurations and then when you round everything off and the information is delivered to the incorrect location the typical expense of a worldwide information 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 count on the necessary 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 difficulties company face when they're making payments to staff members or otherwise that's a good concern I always throw this back and say what is it what doesn't need to be included best 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 nation there's payment amount of time there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually building a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is allowing us to sort of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is absolutely essential that payroll and financing teams work better together than ever um I'm constantly impressed when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on well-being and the payment landscape is ending up being significantly complex. Services are continuously presenting brand-new advantages and payment options, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into separate teams, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly advanced age, there's no validation for preserving cumbersome procedures. Payroll, the business's greatest expense, must be processed properly and on time. Even minor delays can negatively impact employees' wellness and have significant consequences. Therefore, it's important to prioritize precise and timely payments.
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only observe when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally as well. For that reason, it is vital to ensure that tasks like Wi-Fi Global and other vital matters are done properly. Using the very first Worldwide Payments first payroll payment option is a fantastic preliminary action towards offering an extensive payroll option for employees worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and bank accounts needed for international payroll are crucial factors in achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things don't go as prepared. Eventually, we don't do it for the appreciation.
anyway we understand how how essential 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 associated with those processes and also so think of sorry I'm simply I was just gon na state envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions picture getting that many 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 an interesting task attempting 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 attempt to look through them and really see what was going on and sort of try to return to everybody so moving on appearance why do business choose to primary different savings account there are organizations out there doing precisely this for particular nations and I've worked in a service or numerous services doing precisely that I can state it does not always feel effective and it does produce more work I understand we're not purposely doing that we're not creating extra work for anyone where we don't need to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I believe individuals have actually got so used 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 simply been the requirement and the standard the people have adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other methods um to to type of do it so I believe there's a range I think this is a procedure that requires looking at it needs altering but eventually individuals are extremely stuck with what they recognize
with right um change is a difficult thing we all do not like modification um so I believe it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having keeping numerous bank accounts however there's a substantial quantity of complexity goes with setting up a checking account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for private individuals so the intricacy is substantial but I think the sincere response is modification um individuals have not had the ability to alter or have not had always the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be identified to be the next Century or so there is a lot to monitor and this technique does present several difficulties um so Johnny could you tell us about those obstacles yeah obviously so there's a variety right there is so
I just 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 Global staff members you deserve a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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