Find out more about Papaya Global Partners ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and reliable technique of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
The Staff member Website provides workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive benefits bundles to worldwide staff members no matter the variety of staff members in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages companies in every nation, develop local accounts and have a minimum number of employees.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total employment expenses distributed per location, total work costs per cycle and a lot more.
environments around the world I provided management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work throughout the business handling and building external relationships supporting Enterprise customers and options as well as acting as a consultant for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many prominent business in the world we offer payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon excellent night depending upon where you remain in the world it's lovely to fulfill 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 particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually type of had a variety of different roles on the provider side and also on the supplier side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly 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 drizzling here it's extremely really uninspiring and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business maintain different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is especially useful for international companies with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex obstacle for organizations running internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to enhance working capital, and find how improving international payroll payments can transform them from a troublesome task into a tactical property.
Managing payroll globally is a complicated job due to various regulations, compliance requirements, data security issues, and banking rules. The large number of employees and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual processes, information silos, and a lack of combination, leading to disparities and ineffectiveness. Despite residing in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to offer insights and options to simplify and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that provides me sleepless nights and rather honestly the more a company invests in international payroll the less of a picture they see an absence of visibility likewise extends to payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal almost half of global services have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes inadequately communicated hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is shipped to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they rely on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles service face when they're making payments to staff members or otherwise that's an excellent question I constantly throw this back and state what is it what does not need to be consisted of right and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 intricacy wherever you look best eventually building a knowledge base is definitely critical but everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is permitting us to kind of progress with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely crucial that payroll and finance teams work closer together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 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 however also paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on well-being and the payment landscape is becoming significantly detailed. Services are constantly introducing new advantages and payment alternatives, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into separate groups, which can cause inefficiencies and traffic jams. In my opinion, this does not need to hold true. In today's technologically advanced era, there's no validation for keeping troublesome treatments. Payroll, the company's biggest expenditure, need to be processed properly and on time. Even slight delays can negatively affect employees' wellness and have far-reaching effects. Therefore, it's critical to prioritize precise and timely payments.
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only discover when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's viewed externally as well. Therefore, it is essential to ensure that tasks like Wi-Fi International and other important matters are done correctly. Utilizing the very first Global Payments first payroll payment solution is a fantastic initial step towards providing a thorough payroll service for workers worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and savings account needed for international payroll are crucial consider achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things do not go as planned. Ultimately, we don't do it for the gratitude.
anyway we know how how essential 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 everyone that's involved in those processes and likewise so think of sorry I'm just I was simply gon na state picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and in fact see what was going on and type of shot to get back to everybody so moving on look why do business select to primary separate checking account there are services out there doing precisely this for specific nations and I have actually worked in an organization or lots of organizations doing precisely that I can state it doesn't always feel efficient and it does create more work I understand we're not intentionally doing that we're not producing extra work for anybody where we do not have to and anyone that's managing 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 amount that we are I think numerous reasons one is it's the requirement I think individuals have got so utilized to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I think this is a procedure that requires taking a look at it needs changing however eventually individuals are extremely stuck with what they're familiar
with best um change is a tough thing we all do not like change um so I think it's just kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having preserving numerous checking account however there's a big quantity of complexity chooses establishing a bank account keeping it ensuring it can send International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is big but I think the honest answer is modification um people have not been able to alter or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to change however we've constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to keep track of and this method does position several difficulties um so Johnny could you tell us about those difficulties yeah naturally 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you are worthy of a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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