Find out more about Papaya Global India ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a secure and reputable technique of paying to our 10,000 workers worldwide.}
The innovative international payroll management app improves my payroll procedure, saving me a significant amount of time monthly. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Worker Website supplies staff members with the capability to access and view essential files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global helps business provide competitive benefits packages to international workers no matter the number of workers in the company. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source local benefits service providers in every country, create regional accounts and have a minimum number of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment expenses dispersed per location, total employment expenses per cycle and a lot more.
environments across the globe I provided management and method to populations of over a hundred thousand workers 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 acting as an advisor for those of you that don't understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential companies worldwide we offer payroll payments and labor force management to all worker types in over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon excellent evening depending on where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I've type of had a variety of various functions on the company side and also on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join all of us 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 currently simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I really 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 very really bleak and I want I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to optimize working capital, and find how improving international payroll payments can transform them from a troublesome job into a tactical property.
Handling payroll internationally is a daunting job due to various regulations, compliance requirements, information security issues, and banking guidelines. The large variety of employees and companies 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 services worldwide.
Conventional payroll systems often lead to manual processes, data silos, and a lack of combination, leading to inconsistencies and ineffectiveness. Despite residing in an era of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to provide insights and options to streamline 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 say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite frankly the more a company spends on international payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of international organizations have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the data is delivered to the wrong place the average expense of a worldwide data 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 necessary 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 challenges service face when they're paying to staff members or otherwise that's a great concern I always toss this back and say what is it what does not require to be included best and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 need to pay from the consumer's own in-country account so there's complexity wherever you look right ultimately developing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if however some children 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 believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to sort of move on with that it likewise as well to add to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely essential that payroll and finance groups work more detailed together than ever um I'm constantly impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically 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 any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more important to add to sort of the level of intricacy there's a growing number of advantages being organ or being used by businesses across the world so again you're just seeking to add increasingly more payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real obstacles or genuine challenging kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding information 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 does not always require to be the case you know long gone are the times where we need to develop extra 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 require to be in in a period of tech and an era that you understand that we are working in today there is no reason that we are still making this as challenging as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any business has from a cost viewpoint from an impact point of view on staff members 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 biggest detrimental result on people's wellness and numerous other aspects if people aren't paid uh I've always been amazed entering this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm uncertain anyone on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an essential cycle we all find out about it when it fails everyone jumps up and down when it fails however when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment solution is an excellent initial step um supplying an end-to-end payroll service for your staff members worldwide again I believe is another substantial um procedure again aligning and ensuring you have standardization Global procedures all of those things are absolutely key to success success of services and reducing the number of tools platforms and savings account they need for their Global 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've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're indicated to be um I don't think any of us are really doing that for for the thanks
anyway we know 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 simple as possible for everyone that's associated with those processes and also so imagine sorry I'm just I was simply gon na state think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions envision getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting task 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 look through them and actually see what was going on and sort of shot to return to everyone so moving on appearance why do business pick to main separate bank accounts there are businesses out there doing precisely this for particular nations and I have actually worked in an organization or lots of services doing exactly that I can say it does not always feel effective and it does produce more work I understand we're not purposely doing that we're not creating extra work for any person where we don't need to and any person that's managing that process 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 think lots of factors one is it's the requirement I believe people have got so utilized to we require a brand-new bank account we open an entity and appropriately so you require 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 requirement and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I believe this is a process that requires taking a look at it requires changing but ultimately people are very stuck with what they're familiar
with right um modification is a difficult thing all of us don't like change um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having keeping numerous savings account but there's a huge amount of intricacy opts for setting up a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual people so the complexity is huge however I think the sincere response is change um individuals have not been able to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to track and this technique does posture numerous difficulties um so Johnny could you tell us about those difficulties yeah obviously so there's a range right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you are worthy of a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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