Find out more about Papaya Global Payroll Affiliate Program ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and secure and trustworthy technique of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Employee Website
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and work files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to international workers regardless of the variety of workers in the business. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional benefits service providers in every nation, develop regional accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall work expenses dispersed per location, total employment expenses per cycle and far 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 stated I work throughout business managing and structure external relationships supporting Business customers and options along with functioning as an advisor for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I've type of had a range of different roles on the service provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation 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 among the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating 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 truly do hope it's much sunnier than it is 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 uninspiring and I want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical asset uh we'll likewise go over a wrap-up which must leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become increasingly more typical and handling them becomes a growing number of complex Worldwide companies are aiming to discover Solutions and brand-new ways to streamline processes especially from a payroll and cross-border payment standpoint lots of organizations maintain separate savings account just for payroll while some have multiple accounts in different nations does it make good sense for business to preserve different checking account sometimes in different nations it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business enhance the episode complex procedures of
Ensuring accurate, efficient, and timely payroll payments is a complex obstacle for businesses operating worldwide. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to enhance working capital, and discover how streamlining global payroll payments can change them from a difficult task into a tactical property.
Managing payroll internationally is an overwhelming task due to various guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer number of staff members and services contributes to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual processes, data silos, and an absence of integration, leading to inconsistencies and ineffectiveness. In spite of living in a period of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to offer insights and services to streamline and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more a company invests in international payroll the less of an image they see a lack of visibility likewise encompasses payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international organizations have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors improperly communicated hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is shipped to the wrong place the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they rely on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges business face when they're making payments to workers or otherwise that's a good question I always toss this back and state what is it what doesn't need to be consisted of ideal and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 need to pay from the consumer's own in-country account so there's intricacy wherever you look right ultimately building a knowledge base is definitely crucial but all over you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to kind of move forward with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely vital that payroll and finance teams work better together than ever um I'm always amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as an industry 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 individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on well-being and the payment landscape is ending up being significantly detailed. Businesses are continually presenting brand-new advantages and payment options, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into separate groups, which can result in inadequacies and traffic jams. In my viewpoint, this doesn't need to hold true. In today's technically innovative period, there's no justification for maintaining cumbersome procedures. Payroll, the company's most significant cost, must be processed correctly and on time. Even minor delays can adversely impact employees' wellness and have significant effects. Therefore, it's important to focus on precise and timely payments.
The payroll team might not have been thanked for correctly processing payroll throughout 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 essential cycle, and individuals only notice when things go wrong. However, when things go right, it's seen as simply a regular task. This is how it's perceived externally also. Therefore, it is necessary to ensure that jobs like Wi-Fi Global and other crucial matters are done correctly. Using the very first Worldwide Payments first payroll payment service is a fantastic preliminary action towards providing a comprehensive payroll solution for staff members worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and checking account needed for international payroll are key factors in accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things don't go as planned. Eventually, we don't do it for the gratitude.
anyhow we know 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 everybody that's associated with those processes and likewise so picture sorry I'm just I was simply gon na state think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially 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 interesting task trying to clean up 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 require days of the week to try to look through them and in fact see what was going on and kind of shot to return to everyone so moving on appearance why do business select to primary different savings account there are organizations out there doing precisely this for specific nations and I've worked in a business or many businesses doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not developing additional work for any person where we do not have to and anybody that's dealing with that procedure 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 believe many factors one is it's the standard I think people have actually got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I believe this is a process that requires taking a look at it needs changing but ultimately people are extremely stuck with what they're familiar
with best um modification is a difficult thing all of us don't like change um so I believe it's just sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having keeping numerous savings account but there's a substantial quantity of intricacy chooses setting up a bank 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 huge but I believe the honest response is change um individuals haven't had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could almost be determined to be the next Century approximately there is a lot to monitor and this technique does pose a number of difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is closer, considering your achievements.
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