Find out more about Papaya Global Croatia ... We now have the capability to handle 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 dedicated to handling payments. This supplies us with a protected and reliable technique of paying to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app improves my payroll procedure, saving me a substantial quantity of time each month. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Worker Website provides staff members with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to global employees no matter the variety of employees in the business. The business can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source local benefits service providers in every country, create regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall employment costs dispersed per place, total employment costs per cycle and far more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business managing and building external relationships supporting Business customers and services as well as functioning as an advisor for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's an enjoyment to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I have actually kind of had a range of different roles on the service provider side and also on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it remains 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 extremely very dreary and I wish I was elsewhere at this moment in time all right 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 Worldwide payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a strategic asset uh we'll also review a recap and that must leave his time at the very very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of common and handling them ends up being more and more intricate Worldwide companies are looking to discover Solutions and new ways to simplify processes especially from a payroll and cross-border payment standpoint numerous companies keep different bank account just for payroll while some have numerous accounts in different countries does it make sense for business to keep different savings account sometimes in different nations it does but just for payroll exists a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies simplify the episode complex procedures of
Ensuring precise, effective, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, discover how companies forecast payroll expenses to enhance working capital, and find how streamlining worldwide payroll payments can transform them from a troublesome job into a strategic possession.
Managing payroll worldwide is a difficult task due to different policies, compliance requirements, data security concerns, and banking rules. The large variety of employees and companies contributes to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often lead to manual procedures, data silos, and a lack of integration, causing inconsistencies and ineffectiveness. Regardless of living in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to provide insights and solutions to simplify and optimize global payroll payments.
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 Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more an organization invests in international payroll the less of a picture they see a lack of presence also reaches payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the deal nearly half of international businesses have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors improperly interacted hires and terminations as well as absence management and system configurations and after that when you round all of it off and the information is delivered to the wrong location the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the needed several processes systems and partners it is simply 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 employees or otherwise that's a good concern I constantly toss this back and say what is it what does not require to be included right and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 complexity anywhere you look right ultimately building a knowledge base is absolutely vital but all over you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to type of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely essential that payroll and financing teams work closer together than ever um I'm always impressed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more important to contribute to kind of the level of complexity there's increasingly more benefits being organ or being offered by services throughout the world so again you're simply looking to add increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine challenges or real difficult type of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding info into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we need to develop additional handoffs in the processes that we operate in they simply make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and an age that you understand that we are operating in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any business has from an expense viewpoint from an impact viewpoint on employees it is absolutely important that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful effect on individuals's well-being and many other elements if individuals aren't paid uh I have actually constantly been amazed entering into this Market type of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people just observe when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally as well. For that reason, it is vital to make sure that jobs like Wi-Fi International and other important matters are done correctly. Using the very first International Payments first payroll payment solution is a great initial action towards supplying a thorough payroll service for workers worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and savings account necessary for worldwide payroll are essential consider accomplishing organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as prepared. Eventually, we do not do it for the thankfulness.
anyhow we understand how how essential a function 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 easy as possible for everyone that's involved in those procedures and also so imagine sorry I'm just I was simply gon na say picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions picture getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and in fact see what was going on and sort of shot to get back to everyone so proceeding look why do companies select to main different bank accounts there are businesses out there doing precisely this for particular countries and I've operated in a company or many companies doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not creating extra work for any person where we do not need to and anybody that's handling 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 believe lots of reasons one is it's the requirement I believe individuals have got so used to we require a brand-new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that requires looking at it requires altering however ultimately individuals are very stuck with what they recognize
with best um change is a tough thing all of us do not like modification um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having maintaining multiple savings account but there's a huge quantity of complexity chooses setting up a checking account maintaining it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the intricacy is substantial however I believe the honest answer is modification um people haven't had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change however we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might almost be determined to be the next Century approximately there is a lot to track and this technique does present numerous obstacles um so Johnny might you inform us about those difficulties yeah obviously so there's a variety right there is so
I simply 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 Worldwide workers you should have a corner workplace with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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