Find out more about Papaya Global Mali ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and trusted method of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
The Employee Website offers workers with the ability to access and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to international workers regardless of the number of workers in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source local advantages service providers in every nation, produce regional accounts and have a minimum number of staff members.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall employment expenses distributed per place, overall work expenses per cycle and a lot more.
environments around the world I provided leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business managing and building external relationships supporting Enterprise clients and services in addition to serving as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for most influential business in the world we provide payroll payments and labor force management to all employee key ins over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon great night 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 have actually remained in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually sort 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 everybody alright thanks Johnny uh we'll simply give everyone 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 type of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really extremely bleak and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we'll likewise review a recap and that must leave his time at the very very 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 Global workforces become a growing number of typical and managing them ends up being more and more intricate Global organizations are wanting to find Solutions and brand-new ways to improve processes especially from a payroll and cross-border payment perspective many companies maintain different checking account just for payroll while some have several accounts in different nations does it make good sense for business to preserve separate checking account sometimes in various countries it does but just for payroll is there a better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international business enhance the episode complex processes of
Making sure accurate, effective, and timely payroll payments is a complex challenge for organizations operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll costs to enhance working capital, and discover how streamlining international payroll payments can transform them from a troublesome task into a strategic property.
Managing payroll globally is a complicated job due to different regulations, compliance requirements, information security concerns, and banking rules. The sheer number of employees and companies adds to the intricacy, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual processes, data silos, and a lack of integration, resulting in inconsistencies and inefficiencies. Regardless of residing in an age of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to offer insights and options to simplify and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more an organization invests in worldwide payroll the less of a photo they see a lack of visibility also reaches payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide businesses have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors badly interacted hires and terminations in addition to lack management and system setups and then when you round all of it off and the data is delivered to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they depend on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties business face when they're making payments to staff members or otherwise that's a good question I constantly toss this back and say what is it what does not require to be included right and what does
it need to be thought of 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 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 consumer's own in-country account so there's intricacy any place you look best eventually constructing a knowledge base is definitely crucial however everywhere 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 look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is allowing us to kind of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is absolutely essential that payroll and financing teams work closer together than ever um I'm always amazed when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on wellness and the settlement landscape is becoming increasingly intricate. Organizations are continuously introducing brand-new advantages and payment options, which contributes to the overall complexity. Large corporations often divide their payroll and payment processing into separate groups, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't need to hold true. In today's technologically sophisticated period, there's no justification for maintaining cumbersome treatments. Payroll, the company's most significant expenditure, need to be processed properly and on time. Even slight delays can adversely impact workers' wellness and have significant consequences. Therefore, it's important to focus on precise and prompt payments.
payroll group get um so I'm not exactly sure anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe 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 stuff is definitely crucial that all of this things is done properly so leveraging the very first International Payments very first payroll payment solution is an excellent primary step um providing an end-to-end payroll option for your workers worldwide once again I think is another substantial um procedure once again lining up and guaranteeing you have standardization Global processes all of those things are absolutely crucial to success success of organizations and decreasing the number of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand 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 easy as possible for everyone that's involved in those processes and also so envision sorry I'm just I was just gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions imagine getting that many 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 task attempting to clean 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 need days of the week to try to check out them and really see what was going on and sort of try to return to everybody so carrying on look why do business select to main different savings account there are companies out there doing precisely this for particular countries and I've worked in an organization or lots of companies doing exactly that I can state it doesn't always feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for any person where we do not have to and any person that's handling 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 quantity that we are I think many factors one is it's the requirement I believe individuals have actually got so used 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 adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I believe this is a procedure that requires taking a look at it requires altering however ultimately individuals are very stuck with what they're familiar
with best um change is a hard thing all of us do not like change um so I think it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having preserving numerous bank accounts however there's a big amount of complexity opts for establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for individual individuals so the complexity is big however I believe the sincere response is modification um people have not had the ability to change or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be identified to be the next Century approximately there is a lot to keep track of and this method does present numerous obstacles um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I 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 acquired another CFO, and with this improved ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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