Find out more about Papaya Global North Macedonia ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a protected and dependable method of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Employee Portal offers workers with the ability to gain access to and view crucial files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to international workers no matter the number of workers in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source regional advantages suppliers in every nation, create local accounts and have a minimum variety of staff members.
The HR abilities supplied by Global HR include numerous functions such as monitoring trip time, guaranteeing compliance, facilitating the process of welcoming new staff members and bidding farewell to departing ones, providing a safe online platform for saving workers' files, and providing assistance for work allow procedures in case your staff members require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total employment expenses dispersed per place, total work expenses per cycle and much more.
environments across the globe I provided management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business handling and building external relationships supporting Business customers and solutions as well as serving as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for most influential companies on the planet we offer payroll payments and workforce management to all staff member enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon good evening depending on where you remain in the world it's beautiful to satisfy 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 market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of different roles on the supplier side and likewise on the supplier side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really gloomy and I want I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies maintain different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is especially beneficial for international organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex obstacle for businesses operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, find out how business anticipate payroll expenses to optimize working capital, and discover how simplifying international payroll payments can change them from a challenging task into a strategic asset.
Handling payroll internationally is a difficult job due to numerous policies, compliance requirements, information security issues, and banking guidelines. The sheer number of employees and services adds to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems often lead to manual processes, information silos, and a lack of integration, leading to disparities and ineffectiveness. Regardless of residing in a period of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to provide insights and options to simplify and enhance international payroll payments.
about it to provide you a concept 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 quite frankly the more a service spends on global payroll the less of a photo they see an absence of presence also reaches payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction almost half of worldwide businesses have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors poorly communicated hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is delivered to the wrong place the average expense of an international 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 don't run smoothly if they depend on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're paying to employees or otherwise that's a great question I always throw this back and say what is it what does not need to be consisted of ideal and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation 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 complexity wherever you look ideal eventually developing a knowledge base is definitely vital however all over you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is allowing us to type of progress with that it also also to contribute to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm always surprised when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation 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 typically split and cut up um eventually 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 but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on well-being and the settlement landscape is ending up being significantly intricate. Companies are constantly presenting brand-new advantages and payment options, which contributes to the total intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can result in inadequacies and traffic jams. In my opinion, this doesn't need to hold true. In today's technologically innovative era, there's no justification for keeping troublesome procedures. Payroll, the company's most significant expense, need to be processed correctly and on time. Even slight delays can adversely affect staff members' wellness and have significant consequences. Therefore, it's critical to prioritize accurate and timely payments.
payroll team get um so I'm uncertain anyone on this sort 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 staff members or not um however ultimately payroll is such a crucial cycle all of us find out about 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely crucial that all of this things is done properly so leveraging the first Global Payments first payroll payment service is a fantastic first step um offering an end-to-end payroll service for your workers worldwide once again I believe is another huge um process once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of organizations and minimizing the number of tools platforms and checking 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 have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I do not believe 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 easy as possible for everybody that's involved in those procedures and likewise so imagine sorry I'm simply I was simply gon na say envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job 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 attempt to browse them and really see what was going on and kind of try to return to everybody so carrying on look why do companies select to main different bank accounts there are companies out there doing precisely this for particular countries and I've worked in a service or many services doing exactly that I can say it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not creating additional work for anyone where we do not need to and anybody that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the requirement I think people have actually got so utilized to we require a new savings account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I think this is a process that needs looking at it needs altering however ultimately individuals are extremely stuck to what they recognize
with best um modification is a difficult thing we all do not like modification um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having maintaining numerous bank accounts but there's a big amount of intricacy goes with establishing a checking account keeping it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the complexity is substantial however I think the honest answer is change um people have not had the ability to alter or haven't had always the knowledge 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 understanding you know and there is an element of resistance to alter however we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to monitor and this technique does posture several 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 changed our Enterprise 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 International workers you should have a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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