Find out more about Papaya Global Guatemala ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and secure and dependable approach of paying to our 10,000 employees worldwide.}
The advanced global payroll management app streamlines my payroll process, conserving me a significant quantity of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Staff member Portal
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and employment files. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive advantages bundles to worldwide employees despite the variety of employees in the company. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source regional benefits companies in every country, create local accounts and have a minimum variety of employees.
The HR abilities provided by Global HR include different functions such as keeping an eye on getaway time, ensuring compliance, assisting in the procedure of inviting brand-new workers and bidding farewell to leaving ones, offering a secure online platform for keeping workers' documents, and offering support for work allow procedures in case your employees need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total work costs distributed per place, overall work costs per cycle and much more.
environments around the world I supplied 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 stated I work across business managing and building external relationships supporting Enterprise customers and options as well as functioning as an advisor for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment services for the past seven years. The complexities and challenges 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 6 years where I have actually kind of had a variety of various functions on the provider side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds approximately to join we all 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 currently simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it is 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 dreary and I wish I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies keep separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya Global payroll payments as a tactical possession uh we'll also review a wrap-up which must leave his time at the extremely really 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 Global labor forces end up being more and more common and handling them becomes more and more complicated Worldwide companies are aiming to find Solutions and brand-new ways to improve procedures especially from a payroll and cross-border payment standpoint lots of companies maintain different bank account just for payroll while some have several accounts in different nations does it make good sense for business to keep different checking account often in different nations it does but just for payroll is there a better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies enhance the episode complex processes of
Making sure 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 downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to optimize working capital, and discover how enhancing international payroll payments can change them from a burdensome task into a strategic property.
Managing payroll worldwide is a daunting job due to various guidelines, compliance requirements, data security issues, and banking guidelines. The large variety of staff members and services adds to the intricacy, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems often lead to manual procedures, data silos, and a lack of integration, leading to inconsistencies and inefficiencies. In spite of residing in a period of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to offer insights and solutions to streamline and enhance 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 Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more a company invests in worldwide payroll the less of a photo they see a lack of exposure also reaches payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide businesses have actually revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes badly communicated hires and terminations in addition to lack management and system configurations and then when you round it all off and the information is shipped to the incorrect place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they depend on the needed numerous 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 paying to employees or otherwise that's a great concern I constantly toss this back and state what is it what does not need to be included ideal 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 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 have to pay from the client's own in-country account so there's intricacy wherever you look ideal eventually constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type 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 allowing us to type of move forward with that it likewise also to contribute to that payroll and finance require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely essential that payroll and finance groups work closer together than ever um I'm constantly surprised when people state I have actually split payroll and payment um if you walk down the street and asked anybody 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 a market 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 individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on well-being and the payment landscape is becoming increasingly elaborate. Companies are continuously presenting new benefits and payment choices, which adds to the total intricacy. Large corporations frequently divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my opinion, this doesn't need to hold true. In today's technically sophisticated period, there's no justification for keeping cumbersome treatments. Payroll, the business's most significant expenditure, need to be processed correctly and on time. Even slight hold-ups can adversely impact workers' wellness and have far-reaching effects. For that reason, it's vital to focus on precise and prompt payments.
payroll group get um so I'm unsure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle all of us become aware of it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done correctly so leveraging the first Global Payments first payroll payment option is a fantastic first step um supplying an end-to-end payroll option for your workers internationally once again I believe is another huge um procedure once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely key to success success of companies and minimizing the number of tools platforms and bank accounts they require for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're meant to be um I don't think any of us are really doing that for for the thanks
anyway we know how how crucial 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 simple as possible for everyone that's involved in those procedures and likewise so picture sorry I'm just I was just gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions imagine getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and type of shot to return to everybody so moving on look why do business choose to main separate checking account there are businesses out there doing exactly this for specific countries and I have actually worked in a service or lots of businesses doing exactly that I can state it doesn't constantly feel effective and it does create more work I understand we're not deliberately doing that we're not developing additional work for any person where we do not have to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe many factors one is it's the requirement I think individuals have got so used to we need a brand-new bank account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard the people have embraced and continue to do over years and years gone past to add to that people 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 believe this is a process that requires taking a look at it requires altering but ultimately individuals are very stuck with what they recognize
with right um change is a hard thing we all don't like modification um so I think it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having maintaining numerous savings account however there's a huge quantity of complexity goes with establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the intricacy is big but I believe the honest answer is change um individuals have not had the ability to alter or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but we've constantly 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 understand what might almost be determined to be the next Century approximately there is a lot to keep an eye on and this method does pose numerous challenges um so Johnny might you inform us about those challenges yeah of course 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you are worthy of 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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