Find out more about Papaya Global Fiji ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a protected and reputable technique of making payments to our 10,000 workers worldwide.}
The innovative worldwide payroll management app improves my payroll process, conserving me a significant amount of time each month. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Staff member Portal
Workers have access to a Worker Website where they can view their pay slips, wage and tax declarations and work documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to worldwide employees no matter the number of workers in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source regional benefits suppliers in every nation, develop local accounts and have a minimum number of staff members.
The HR abilities supplied by International HR incorporate different functions such as monitoring holiday time, ensuring compliance, helping with the process of welcoming new staff members and bidding farewell to leaving ones, offering a secure online platform for storing employees' files, and providing assistance for work permit procedures in case your workers need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, overall work expenses distributed per location, total employment costs per cycle and much more.
environments across the globe I offered management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work across business managing and structure external relationships supporting Enterprise clients and solutions in addition to serving as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for many prominent companies worldwide we offer payroll payments and workforce management to all employee key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon excellent evening depending upon where you remain in the world it's beautiful to fulfill you and thank you very much 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 industry for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I have actually sort of had a variety of various functions on the provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really gloomy and I want I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business preserve separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical possession uh we'll also review a recap which must leave his time at the extremely really 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 International workforces end up being more and more common and managing them ends up being a growing number of complicated International companies are looking to discover Solutions and brand-new methods to simplify procedures specifically from a payroll and cross-border payment perspective many organizations keep separate checking account just for payroll while some have several accounts in various countries does it make good sense for business to preserve different savings account often in various nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international business enhance the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for businesses operating worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to enhance working capital, and find how improving worldwide payroll payments can change them from a challenging task into a tactical property.
Managing payroll internationally is a difficult job due to different guidelines, compliance requirements, information security issues, and banking rules. The sheer number of employees and services contributes to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems frequently lead to manual processes, information silos, and an absence of integration, leading to disparities and inadequacies. Regardless of residing in an age of technological advancements, 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 aims to offer insights and options to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization spends on global payroll the less of a picture they see an absence of presence also extends to payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of international organizations have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is shipped to the incorrect place the typical 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 worldwide payroll and payments don't run efficiently if they rely on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they're making payments to staff members or otherwise that's a good concern I constantly throw this back and say what is it what does not need to be included right and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is absolutely important but all over you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind 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 fundamental and innovation is allowing us to sort of move on with that it likewise too to add to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is absolutely important that payroll and financing groups work closer together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you stroll down the street and asked anybody 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 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 process it's the point of data collection all the way through to paying individuals wherever 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 settlement landscape is becoming increasingly intricate. Services are continually presenting new advantages and payment alternatives, which contributes to the total intricacy. Big corporations typically divide their payroll and payment processing into separate teams, which can cause inadequacies and bottlenecks. In my viewpoint, this does not have to be the case. In today's technically advanced period, there's no justification for maintaining cumbersome procedures. Payroll, the business's biggest cost, need to be processed correctly and on time. Even slight hold-ups can adversely affect workers' well-being and have far-reaching repercussions. Therefore, it's critical to prioritize accurate and prompt payments.
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only notice when things go wrong. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally as well. For that reason, it is vital to guarantee that jobs like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment service is a fantastic preliminary action towards supplying a thorough payroll solution for employees worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and checking account required for worldwide payroll are essential consider attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things do not go as planned. Eventually, we do not do it for the appreciation.
anyway we know how how essential 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 associated with those procedures and also so picture sorry I'm simply I was simply gon na say think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions imagine getting that numerous 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 absolutely be an intriguing job trying to clean up all those up for sure oh absolutely 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 look through them and in fact see what was going on and kind of try to return to everyone so proceeding appearance why do companies pick to primary different checking account there are companies out there doing precisely this for specific nations and I have actually operated in a company or many organizations doing exactly that I can say it does not always feel efficient and it does produce more work I understand we're not purposely doing that we're not creating additional work for anyone where we don't need to and any person that's handling 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 numerous factors one is it's the standard I believe people have actually got so utilized to we require a new checking account we open an entity and rightly so you need 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 standard individuals have adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I think this is a procedure that requires taking a look at it requires changing however ultimately individuals are really stuck with what they're familiar
with ideal um modification is a difficult thing we all don't like modification um so I believe it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having maintaining numerous bank accounts however there's a substantial amount of intricacy opts for setting up a checking account maintaining it ensuring it can send out International transfers ensuring it's established with the right user accesses for individual people so the intricacy is huge however I believe the truthful answer is modification um individuals haven't been able to change or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you've struck 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 real reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could almost be figured out to be the next Century approximately there is a lot to keep track of and this approach does posture several challenges um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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