Find out more about Papaya Global Kazakhstan ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and reputable approach of making payments to our 10,000 workers worldwide.}
The innovative global payroll management app streamlines my payroll process, saving me a considerable quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Employee Portal
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and work documents. The website is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to worldwide employees no matter the variety of employees in the company. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every country, produce regional accounts and have a minimum variety of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work costs distributed per location, overall work costs per cycle and much more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business handling and structure external relationships supporting Business clients and services 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
company to make the time 100 list for the majority of prominent business in the world we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon good night depending upon where you remain in the world it's charming to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was interested 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've kind of had a variety of different functions on the provider side and also on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing 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 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 really really gloomy and I want 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 taking a look at the challenge years of handling Global payroll why business maintain different
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is particularly helpful for international companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex difficulty for services running globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, find out how companies anticipate payroll expenses to optimize working capital, and discover how improving international payroll payments can transform them from a difficult job into a tactical asset.
Managing payroll internationally is a daunting task due to various policies, compliance requirements, data security concerns, and banking rules. The large variety of workers and companies adds to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often result in manual processes, information silos, and an absence of combination, causing inconsistencies and inefficiencies. Despite living in a period of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to supply insights and services to streamline and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more a business spends on international payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal almost half of international businesses have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes inadequately communicated hires and terminations in addition to absence management and system configurations and after that when you round everything off and the information is delivered to the incorrect place the typical cost of a global information 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 count on the necessary multiple procedures systems and partners it is just 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 workers or otherwise that's a great concern I always throw this back and say what is it what does not need to be consisted of ideal and what does
it require to be thought about 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 need to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity wherever you look ideal eventually developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and technology is permitting us to type of move forward with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely essential that payroll and finance teams work closer together than ever um I'm always amazed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
The modern world positions a high value on wellness and the payment landscape is becoming increasingly intricate. Services are continually presenting brand-new benefits and payment options, which adds to the total complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can cause ineffectiveness and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly advanced period, there's no reason for keeping troublesome procedures. Payroll, the business's biggest expense, must be processed properly and on time. Even small delays can negatively impact staff members' well-being and have significant repercussions. Therefore, it's vital to focus on precise and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just see when things fail. However, when things go right, it's seen as just a regular job. This is how it's perceived externally also. Therefore, it is necessary to ensure that tasks like Wi-Fi Worldwide and other essential matters are done properly. Using the very first International Payments very first payroll payment service is a fantastic initial step towards supplying a thorough payroll service for staff members worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and checking account needed for worldwide payroll are essential consider accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of complaints when things do not go as planned. Eventually, we don't do it for the gratitude.
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 everyone that's associated with those processes and likewise so imagine sorry I'm just I was just gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions picture getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and really see what was going on and kind of try to get back to everyone so carrying on look why do business select to primary separate bank accounts there are organizations out there doing exactly this for specific countries and I have actually operated in a business or numerous services doing precisely that I can state it does not always feel effective and it does develop more work I understand we're not intentionally doing that we're not developing extra work for anyone where we don't need to and anybody that's handling that procedure 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 factors one is it's the requirement I believe people have got so used to we require a brand-new checking 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 believe it's simply been the standard and the norm the people have adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I think this is a procedure that needs taking a look at it requires altering however eventually people are extremely stuck with what they're familiar
with right um modification is a tough thing all of us do not like change um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having maintaining multiple bank accounts however there's a substantial quantity of complexity goes with setting up a checking 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 huge but I believe the honest response is modification um individuals haven't had the ability to alter or have not had always the understanding to actually make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century approximately there is a lot to track and this method does position numerous difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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