Find out more about Papaya Global Paraguay ... We now have the capability to handle 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 committed to handling payments. This offers us with a secure and dependable technique of making payments 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 gain access to and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global assists companies use competitive advantages packages to international employees no matter the number of workers in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source local advantages companies in every country, produce local accounts and have a minimum number of staff members.
The HR abilities supplied by Worldwide HR include different functions such as keeping track of vacation time, ensuring compliance, assisting in the procedure of welcoming brand-new employees and bidding goodbye to departing ones, using a secure online platform for storing employees' documents, and supplying assistance for work permit treatments in case your workers need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, total work costs distributed per place, overall work costs per cycle and a lot more.
environments across the globe I offered leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work across business managing and building external relationships supporting Business clients and services as well as acting as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for the majority of prominent business worldwide we offer payroll payments and labor force management to all worker types in 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 introduce yourself naturally thank you good morning excellent afternoon great night depending on where you remain in the world it's beautiful to meet 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've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a range of various roles on the provider side and likewise on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everybody another couple of uh well one of 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 intriguing and I can see it going on currently just to hear where everybody is um it's nice to to kind 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 sunshine is it it's not no it's it's raining here it's extremely very gloomy 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 looking at the challenge years of handling Global payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll also review a wrap-up and that must leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more typical and handling them ends up being increasingly more complicated International companies are seeking to find Solutions and new methods to improve processes especially from a payroll and cross-border payment perspective lots of organizations keep different bank account just for payroll while some have numerous accounts in different countries does it make sense for business to maintain different checking account often in various nations it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies streamline the episode complex processes of
Guaranteeing accurate, effective, and prompt payroll payments is a complex difficulty for services operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to optimize working capital, and discover how simplifying global payroll payments can transform them from a challenging job into a strategic asset.
Handling payroll worldwide is a difficult task due to various policies, compliance requirements, data security issues, and banking guidelines. The large number of staff members and companies adds to the complexity, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual processes, information silos, and an absence of combination, causing disparities and inadequacies. In spite of residing in a period 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 goals to provide insights and services to simplify and optimize global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force 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 picture they see an absence of presence likewise encompasses payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of international organizations have 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 due to time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations in addition to absence management and system setups and after that when you round everything off and the information is shipped to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they count on the essential several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're paying to workers or otherwise that's an excellent question I constantly toss this back and state what is it what doesn't need to be included ideal and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 customer's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is absolutely important however everywhere you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is enabling us to sort of progress with that it also also to add to that payroll and financing need to work closer together um with differing Savings account Details differing banking requirements and setup procedures is absolutely imperative that payroll and finance teams work better together than ever um I'm constantly amazed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more important to add to sort of the level of complexity there's increasingly more advantages being organ or being offered by organizations across the world so once again you're simply wanting to add increasingly more payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine challenges or genuine difficult type of pay uses to play to pay people I believe yeah I imply over the last well yeah a couple of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding details into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we need to develop extra handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and an age that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single greatest liability that any organization has from a cost perspective from an effect perspective on staff members 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 harmful result on individuals's well-being and many other aspects if individuals aren't paid uh I have actually constantly been impressed coming into this Market type of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just observe when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's viewed externally too. Therefore, it is vital to ensure that jobs like Wi-Fi Worldwide and other important matters are done correctly. Using the very first Worldwide Payments first payroll payment solution is a terrific initial step towards supplying a thorough payroll option for workers worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and savings account necessary for global payroll are key factors in attaining organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things do not go as planned. Ultimately, we do not do it for the appreciation.
anyhow we understand 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 easy as possible for everyone that's associated with those processes and likewise so think of sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly 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 but it would definitely be an interesting job trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and really see what was going on and sort of try to return to everybody so carrying on look why do business pick to primary different bank accounts there are companies out there doing exactly this for particular nations and I've worked in a company or lots of companies doing exactly that I can state it does not constantly feel effective and it does create more work I understand we're not intentionally doing that we're not producing extra work for any person where we don't need to and any person that's managing 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 amount that we are I believe lots of reasons one is it's the standard I believe people have got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a range I believe this is a procedure that requires looking at it requires altering however eventually people are very stuck with what they recognize
with right um modification is a challenging thing we all don't like change um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having preserving multiple bank accounts but there's a huge quantity of intricacy chooses setting up a savings account maintaining it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private people so the complexity is substantial but I think the sincere response is change um individuals haven't been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter however we have actually always 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 might practically be figured out to be the next Century approximately there is a lot to track and this technique does position several difficulties um so Johnny might you tell us about those difficulties yeah naturally 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 Worldwide staff members you are worthy of a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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