Find out more about Papaya Global Brazil ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to managing payments. This offers us with a safe and reputable approach of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Worker Portal offers workers 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 devices and is provided in different languages.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to global workers no matter the number of staff members in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional benefits service providers in every nation, develop regional accounts and have a minimum variety of employees.
The HR capabilities offered by Worldwide HR include numerous functions such as keeping track of trip time, making sure compliance, facilitating the process of inviting new employees and bidding goodbye to departing ones, providing a safe and secure online platform for keeping employees' documents, and offering support for work permit treatments in case your workers require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, total work expenses dispersed per area, overall work expenses per cycle and a lot more.
environments around the world I provided management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business managing and structure external relationships supporting Enterprise customers and solutions along with acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually kind of had a range of various functions on the supplier side and likewise on the vendor side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting 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 everyone comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really really bleak and I wish I was elsewhere at this moment in time all right so let's get going 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 business maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical asset uh we'll likewise go over a recap and that must leave his time at the extremely 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 Worldwide workforces become a growing number of common and managing them ends up being a growing number of complicated International companies are looking to discover Solutions and new ways to simplify processes particularly from a payroll and cross-border payment standpoint numerous organizations keep different bank account just for payroll while some have several accounts in various nations does it make sense for companies to maintain different bank accounts in some cases in various nations it does however just for payroll is there a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business streamline the episode complex processes of
Making sure precise, efficient, and prompt payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll expenses to optimize working capital, and find how enhancing global payroll payments can transform them from a burdensome task into a strategic asset.
Managing payroll globally is a difficult task due to different policies, compliance requirements, information security concerns, and banking rules. The sheer number of staff members and businesses contributes 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 businesses worldwide.
Traditional payroll systems often lead to manual procedures, information silos, and a lack of integration, leading to disparities and ineffectiveness. Despite residing in an era of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to supply insights and options to streamline and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite frankly the more a business spends on global payroll the less of an image they see a lack of presence also reaches payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide organizations 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 bad HCM information information entry errors inadequately communicated hires and terminations as well as absence management and system setups and then when you round everything off and the data is shipped to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they depend on the required multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges business face when they're paying to staff members or otherwise that's a good concern I always throw this back and state what is it what does not require to be consisted of right and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities 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 any place you look right ultimately constructing a knowledge base is absolutely important however everywhere you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is enabling us to kind of move forward with that it likewise also to add to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely important that payroll and financing teams work closer together than ever um I'm constantly surprised when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work 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 typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on well-being and the payment landscape is becoming increasingly intricate. Businesses are continually presenting brand-new advantages and payment choices, which contributes to the general intricacy. Big corporations typically divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my viewpoint, this doesn't need to hold true. In today's technically advanced age, there's no validation for maintaining cumbersome treatments. Payroll, the business's most significant expenditure, must be processed correctly and on time. Even minor delays can adversely affect staff members' well-being and have far-reaching consequences. Therefore, it's vital to prioritize precise and prompt payments.
payroll group get um so I'm unsure anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle we all find out about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done properly so leveraging the first Global Payments very first payroll payment service is a fantastic first step um providing an end-to-end payroll service for your staff members internationally once again I believe is another big um procedure once again lining up and ensuring you have standardization International processes all of those things are absolutely crucial to success success of organizations and lowering 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 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 complaints where things haven't gone rather where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyway we know how how important a role 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 simple as possible for everyone that's associated with those processes and likewise so imagine sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions think of getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task 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 attempt to look through them and in fact see what was going on and kind of shot to get back to everyone so moving on appearance why do companies choose to main different savings account there are companies out there doing exactly this for specific nations and I have actually operated in a business or many organizations doing precisely that I can state it does not constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not producing additional work for anyone where we do not have to and any person that's managing that process 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 think numerous factors one is it's the standard I believe people have got so utilized to we require a new bank account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a procedure that needs taking a look at it needs altering but eventually people are really stuck to what they're familiar
with best um modification is a tough thing we all do not like modification um so I believe it's simply type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having keeping multiple checking account however there's a big quantity of complexity chooses establishing a savings account maintaining it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for individual individuals so the complexity is substantial but I think the truthful response is change um people have not been able to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might almost be determined to be the next Century or two there is a lot to track and this approach does posture numerous challenges um so Johnny might you tell us about those difficulties 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have 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
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