Find out more about Papaya Global Hr ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and reputable approach of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
Worker Portal
Staff members have access to an Employee Website where they can view their pay slips, wage and tax statements and work files. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to worldwide workers despite the number of employees in the business. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional advantages companies in every nation, develop regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total work costs distributed per area, total employment expenses per cycle and much more.
environments around the world I offered management and technique 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 throughout the business handling and structure external relationships supporting Business clients and solutions along with acting as a consultant for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for the majority of prominent business worldwide we offer payroll payments and labor force management to all employee types in over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon excellent night depending on where you are in the world it's lovely to satisfy 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 have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've sort of had a variety of various functions on the provider side and likewise on the vendor side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely very uninspiring and I wish I was somewhere else at this moment in time alright so let's get started 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 companies keep separate
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is especially beneficial for international companies with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for organizations running worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to enhance working capital, and discover how enhancing worldwide payroll payments can transform them from a difficult job into a strategic possession.
Managing payroll globally is a complicated job due to different guidelines, compliance requirements, data security issues, and banking guidelines. The large number of workers and businesses adds to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently result in manual processes, information silos, and a lack of combination, causing inconsistencies and inefficiencies. In spite of living in an age of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to provide insights and options to simplify and enhance 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 state they have Labor force data in real time that's another number that provides me sleepless nights and rather honestly the more a company spends on global payroll the less of a picture they see a lack of visibility also extends to payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide services have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes improperly communicated hires and terminations along with absence management and system configurations and after that when you round it all off and the information is delivered 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 need to move the cash worldwide payroll and payments do not run efficiently if they rely on the needed several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties business face when they're making payments to employees or otherwise that's an excellent concern I always toss this back and say what is it what doesn't require to be consisted of ideal 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 abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy anywhere you look best eventually constructing a knowledge base is absolutely vital however all over you look with payroll payment they resemble very payments no if however 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 fundamental and technology is permitting us to sort of move on with that it also also to contribute to that payroll and finance need to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work more detailed together than ever um I'm constantly impressed when individuals say I've 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 frequently split and cut up um ultimately 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 however likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on wellness and the payment landscape is becoming increasingly elaborate. Services are continually introducing brand-new advantages and payment choices, which adds to the general intricacy. Large corporations often divide their payroll and payment processing into different groups, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't have to be the case. In today's highly sophisticated period, there's no validation for maintaining cumbersome procedures. Payroll, the company's most significant expenditure, should be processed properly and on time. Even slight hold-ups can adversely affect staff members' wellness and have far-reaching consequences. Therefore, it's vital to prioritize accurate and prompt payments.
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just discover when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's viewed externally also. Therefore, it is vital to make sure that tasks like Wi-Fi Global and other essential matters are done properly. Utilizing the first International Payments very first payroll payment option is a fantastic preliminary action towards providing an extensive payroll service for employees worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and checking account essential for global payroll are crucial consider accomplishing service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things do not go as prepared. Eventually, we don't do it for the thankfulness.
anyhow we understand 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 involved in those processes and likewise so envision sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions envision 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 however it would absolutely be an intriguing job attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and actually see what was going on and sort of try to get back to everybody so moving on appearance why do companies choose to main different checking account there are services out there doing precisely this for particular countries and I've worked in a service or lots of businesses doing precisely that I can state it does not constantly feel effective and it does create more work I understand we're not deliberately doing that we're not producing extra work for anyone where we do not 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 quantity that we are I believe numerous factors one is it's the standard I think individuals have actually got so utilized to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just 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 actually taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I believe this is a process that needs looking at it requires altering however eventually people are really stuck to what they're familiar
with ideal um modification is a hard thing we all do not like change um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having preserving several bank accounts however there's a substantial quantity of intricacy chooses setting up a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual people so the complexity is big however I think the honest response is change um people haven't been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to keep an eye on and this technique does pose several challenges um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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