Find out more about Papaya Global Timor-leste ... 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 acquired a different Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and dependable method of making payments to our 10,000 workers worldwide.}
The innovative international payroll management app simplifies my payroll process, conserving me a considerable amount of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Staff member Website
Workers have access to a Worker Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive benefits packages to global employees no matter the variety of workers in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source regional advantages companies in every country, produce regional accounts and have a minimum number of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses distributed per location, overall work expenses per cycle and a lot more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and structure external relationships supporting Enterprise clients and solutions in addition to functioning as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for a lot of influential companies in the world we provide payroll payments and labor force management to all worker key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon good evening depending on where you are in the world it's lovely to satisfy you and thank you quite 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 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've sort of had a range of various roles on the service provider side and also on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or two to join all of us 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 just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very extremely gloomy and I want I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies keep different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a strategic property uh we'll likewise review a wrap-up and that should leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of common and handling them becomes a growing number of complex Worldwide companies are aiming to find Solutions and brand-new ways to streamline procedures particularly from a payroll and cross-border payment viewpoint lots of organizations preserve separate checking account just for payroll while some have multiple accounts in various countries does it make good sense for companies to keep separate savings account often in various nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies enhance the episode complex procedures of
Guaranteeing accurate, effective, and prompt payroll payments is a complex challenge for companies running internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, find out how business anticipate payroll costs to optimize working capital, and discover how simplifying worldwide payroll payments can transform them from a difficult job into a strategic asset.
Managing payroll globally is an overwhelming job due to different policies, compliance requirements, information security concerns, and banking rules. The large variety of staff members and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of integration, resulting in disparities and inefficiencies. Despite residing in an age of technological improvements, 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 streamline and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather honestly the more an organization spends on worldwide payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide organizations have actually 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 because of time reporting bad HCM data data entry mistakes improperly interacted hires and terminations in addition to absence management and system configurations and then when you round everything off and the information is shipped to the incorrect location the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they rely on the necessary several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're making payments to employees or otherwise that's an excellent question I always toss this back and state what is it what does not require to be consisted of best and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy any place you look ideal ultimately constructing a knowledge base is absolutely critical however all over you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is allowing us to type of move forward with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely important that payroll and finance teams work better together than ever um I'm constantly impressed when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation 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 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 people anywhere they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on wellness and the payment landscape is becoming progressively complex. Companies are continually presenting brand-new advantages and payment alternatives, which adds to the total complexity. Big corporations frequently divide their payroll and payment processing into separate teams, which can lead to inadequacies and traffic jams. In my opinion, this does not have to be the case. In today's technologically advanced age, there's no reason for preserving troublesome procedures. Payroll, the business's biggest cost, must be processed correctly and on time. Even slight hold-ups can adversely impact workers' wellness and have far-reaching effects. Therefore, it's vital to focus on precise and timely payments.
payroll group get um so I'm unsure anybody on this kind of webinar has 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 employees or not um but ultimately payroll is such an essential cycle we all become aware of it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment option is an excellent first step um providing an end-to-end payroll service for your staff members globally again I believe is another substantial um process once again aligning and ensuring you have standardization Worldwide processes all of those things are definitely crucial to success success of businesses and minimizing the number of tools platforms and bank accounts they need for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
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 simple as possible for everyone that's associated with those processes and also so envision sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job trying to clean 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 need days of the week to try to check out them and in fact see what was going on and sort of try to return to everyone so carrying on appearance why do companies select to main different savings account there are businesses out there doing exactly this for particular nations and I've worked in a company or numerous services doing exactly that I can state it does not constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anybody where we don't need to and anybody that's handling 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 quantity that we are I think numerous reasons one is it's the requirement I believe people have got so utilized to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I think there's a variety I think this is a procedure that needs taking a look at it requires changing but ultimately people are extremely stuck with what they're familiar
with right um modification is a challenging thing all of us don't like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having maintaining several checking account but there's a huge quantity of intricacy chooses establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for specific individuals so the intricacy is huge but I think the sincere response is change um individuals have not had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions aside from 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 alter however we've always done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might almost be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does present a number of challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your accomplishments.
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