Find out more about Papaya Global Bulgaria ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and secure and trustworthy approach of paying to our 10,000 staff members worldwide.}
The advanced global payroll management app enhances my payroll process, saving me a substantial amount of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Employee Portal
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax statements and work files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive advantages bundles to global staff members no matter the variety of staff members in the company. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source regional benefits service providers in every country, create regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, overall work expenses dispersed per place, overall work costs per cycle and a lot more.
environments across the globe I offered management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business managing and structure external relationships supporting Business customers and options as well as acting as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many influential companies in the world we supply payroll payments and labor force management to all staff member types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon excellent evening depending on where you are in the world it's lovely to meet 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've remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to type 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 supplier side and also on the supplier side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating 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 truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very gloomy 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 challenge years of handling International payroll why companies preserve separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping different savings account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll expenses to enhance working capital, and find how streamlining global payroll payments can change them from a troublesome task into a strategic possession.
Managing payroll internationally is a challenging task due to numerous regulations, compliance requirements, data security concerns, and banking rules. The sheer number of workers and organizations adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual processes, data silos, and a lack of integration, leading to inconsistencies and ineffectiveness. In spite of residing in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to supply insights and options to simplify and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of a photo they see a lack of presence also extends to payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of global organizations have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry mistakes inadequately communicated hires and terminations in addition to absence management and system setups and then when you round all of it off and the information is shipped to the wrong location the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments do not run smoothly if they depend on the essential several procedures 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 making payments to staff members or otherwise that's a good concern I constantly toss this back and state what is it what does not need to be consisted of best and what does
it need 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 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 consumer's own in-country account so there's complexity any place you look best eventually building a knowledge base is absolutely important but all over you look with payroll payment they resemble extremely payments no if but some children 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 think there's now a bit more recognition that payroll payments are definitely essential and innovation is permitting us to kind of move forward with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely vital that payroll and financing teams work closer together than ever um I'm constantly astonished when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on wellness and the payment landscape is ending up being progressively complex. Services are constantly presenting new advantages and payment options, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into different teams, which can cause inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's highly sophisticated era, there's no reason for keeping troublesome treatments. Payroll, the business's biggest cost, must be processed correctly and on time. Even minor hold-ups can adversely affect employees' wellness and have significant consequences. For that reason, it's important to prioritize precise and timely payments.
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anyone 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 people just discover when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's viewed externally as well. For that reason, it is necessary to make sure that jobs like Wi-Fi Global and other crucial matters are done correctly. Using the first International Payments very first payroll payment solution is a fantastic initial step towards supplying a detailed payroll service for staff members worldwide. Standardization, global processes, and minimizing the variety of tools, platforms, and savings account necessary for worldwide payroll are crucial factors in achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we know how how crucial 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 everybody that's involved in those processes and also so imagine sorry I'm just I was just gon na say envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make 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 but it would absolutely be an interesting job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and in fact see what was going on and kind of try to return to everyone so moving on appearance why do business pick to primary different bank accounts there are services out there doing exactly this for particular nations and I've operated in a business or many companies doing exactly that I can say it doesn't constantly feel effective and it does develop more work I understand we're not purposely doing that we're not creating additional work for anyone where we do not have to and anybody that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of factors one is it's the requirement I think individuals have actually got so utilized to we require a new checking account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by 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 variety I think this is a process that needs looking at it requires altering however eventually people are very stuck to what they're familiar
with right um modification is a challenging thing we all don't like modification um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having preserving multiple savings account but there's a huge quantity of intricacy goes with establishing a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is big but I think the sincere answer is change um people have not had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might almost be identified to be the next Century or two there is a lot to keep an eye on and this approach does position numerous obstacles 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 changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you are worthy of a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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