Find out more about Papaya Global Panama ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and secure and reputable approach of making payments to our 10,000 employees worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, saving me a considerable amount of time each month. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
The Worker Portal offers staff members with the capability to access and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is used in different languages.
Advantages Administration
Papaya Global assists business use competitive advantages packages to international staff members regardless of the variety of workers in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional benefits service providers in every nation, create local accounts and have a minimum variety of workers.
The HR abilities offered by Worldwide HR encompass different functions such as monitoring trip time, ensuring compliance, assisting in the procedure of inviting new staff members and bidding farewell to departing ones, using a secure online platform for saving employees' files, and providing assistance for work permit treatments in case your staff members require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total employment costs dispersed per location, overall employment costs per cycle and far more.
environments across the globe I supplied leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise clients and options as well as acting as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for a lot of influential business in the world we offer payroll payments and workforce management to all worker key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon great night depending on where you are in the world it's beautiful to meet 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've remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I've kind of had a range of various functions on the company side and also on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I actually 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 wish I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies keep separate
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially beneficial for worldwide companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of keeping different checking account for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and timely payroll payments is a complex obstacle for organizations running worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to enhance working capital, and discover how simplifying international payroll payments can transform them from a difficult job into a strategic possession.
Handling payroll internationally is a challenging job due to numerous policies, compliance requirements, data security concerns, and banking rules. The large variety of employees and organizations contributes to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems frequently lead to manual processes, information silos, and a lack of combination, leading to inconsistencies and inadequacies. Regardless of living in a period of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to offer insights and solutions to streamline 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 organizations state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more a service invests in global payroll the less of a photo they see an absence of presence also encompasses payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal nearly half of global companies have expressed that they don't 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 inadequately communicated hires and terminations in addition to absence management and system setups and after that when you round all of it off and the data is shipped to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties company face when they're making payments 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 consisted of right and what does
it need to be thought of there's differing 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 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 client's own in-country account so there's intricacy wherever you look ideal ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble super payments no if but some children 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 basic and innovation is allowing us to sort of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely imperative that payroll and financing groups work closer together than ever um I'm constantly astonished when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market 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 data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to add to type of the level of intricacy there's more and more benefits being organ or being offered by businesses throughout the world so again you're just aiming to include more and more payments to this already complicated landscape so if you type of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine obstacles or real tough kind of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of years I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding details into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to create additional handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and an era that you know that we are operating in today there is no reason we are still making this as difficult as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any organization has from an expense point of view from an effect perspective on workers it is definitely critical that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the biggest detrimental effect on individuals's wellness and lots of other aspects if individuals aren't paid uh I've constantly been amazed entering this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not sure anyone on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however eventually payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just 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 absolutely important that all of this things is done correctly so leveraging the first Global Payments first payroll payment option is a great initial step um providing an end-to-end payroll solution for your employees worldwide again I believe is another huge um procedure once again lining up and ensuring you have standardization International processes all of those things are definitely crucial to success success of businesses and lowering the variety of tools platforms and bank accounts they require for their Global payroll too couldn't 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 thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone quite where they're implied to be um I don't think any of us are in fact doing that for for the thanks
anyway we understand how how crucial 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 easy as possible for everybody that's associated with those processes and also so imagine sorry I'm simply I was just gon na say picture 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 think of getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing job attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and in fact see what was going on and kind of shot to get back to everyone so carrying on look why do business select to primary different bank accounts there are services out there doing exactly this for particular nations and I have actually worked in a business or lots of organizations doing exactly that I can say it does not constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not developing additional work for anyone where we do not need to and anyone that's dealing with that process 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 reasons one is it's the requirement I believe individuals have actually got so utilized to we need a new savings 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 believe it's simply been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I believe this is a procedure that requires taking a look at it needs changing but eventually people are really stuck with what they recognize
with ideal um modification is a tough thing all of us do not like modification um so I believe it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having maintaining numerous checking account but there's a substantial quantity of intricacy goes with establishing a checking account maintaining it ensuring it can send International transfers ensuring it's established with the ideal user accesses for private people so the complexity is big however I believe the truthful response is modification um people haven't had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to alter 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 carrying on and moving into you know what might practically be determined to be the next Century or so there is a lot to track and this technique does position several obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I simply did you switched 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 Worldwide staff members you should have a corner office with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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