Find out more about Papaya Global Uzbekistan ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and reliable technique of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll procedure, saving me a considerable amount of time every month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Worker Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and employment documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business offer competitive advantages bundles to worldwide workers despite the variety of employees in the company. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source regional benefits companies in every country, develop regional accounts and have a minimum number of employees.
The HR abilities offered by International HR encompass various functions such as keeping an eye on trip time, guaranteeing compliance, facilitating the procedure of welcoming new employees and bidding farewell to departing ones, offering a protected online platform for saving workers' files, and providing assistance for work allow treatments in case your workers require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work costs distributed per location, overall employment expenses per cycle and a lot more.
environments around the world I supplied management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business managing and building external relationships supporting Business customers and services along with acting as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential business worldwide we supply payroll payments and labor force management to all worker enters 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 excellent afternoon good evening depending on where you remain 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 have actually remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've kind of had a range of various functions on the provider side and also on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really very gloomy and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why business maintain separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic property uh we'll likewise discuss a wrap-up and that ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of typical and managing them ends up being a growing number of complex Global organizations are seeking to find Solutions and new methods to improve processes specifically from a payroll and cross-border payment perspective numerous companies keep different checking account just for payroll while some have multiple accounts in different nations does it make sense for companies to keep different savings account often in various countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business streamline the episode complex procedures of
Guaranteeing precise, efficient, and prompt payroll payments is a complex difficulty for services running globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to enhance working capital, and discover how improving worldwide payroll payments can transform them from a troublesome job into a tactical possession.
Handling payroll worldwide is an overwhelming task due to various regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of workers and companies adds to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems often lead to manual processes, information silos, and a lack of combination, causing inconsistencies and inadequacies. Despite living in a period of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to offer insights and solutions to streamline and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a company spends on worldwide payroll the less of a photo they see a lack of presence also extends to payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide 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 because of time reporting bad HCM information information entry errors inadequately interacted hires and terminations as well as lack management and system setups and after that when you round it all off and the data is shipped to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they rely on the needed several 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 organization face when they're making payments to workers or otherwise that's a great concern I constantly toss this back and state what is it what doesn't require to be included right and what does
it require 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 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 wherever you look ideal eventually building a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to sort of move on with that it likewise too to add to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely vital that payroll and finance teams work better together than ever um I'm always impressed when people say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically 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
world we reside in and wellness being more and more crucial to contribute to kind of the level of complexity there's increasingly more advantages being organ or being offered by businesses throughout the world so again you're just looking to include a growing number of payments to this already complex landscape so if you kind of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine challenges or real challenging sort of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of decades I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to develop extra handoffs in the processes that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an age that you know that we are working in today there is no reason we are still making this as difficult as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any company has from an expense point of view from an impact point of view on workers it is definitely vital that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the greatest damaging impact on people's wellness and lots of other factors if individuals aren't paid uh I've always been impressed entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just see when things go wrong. However, when things go right, it's seen as simply a routine job. This is how it's viewed externally too. Therefore, it is essential to guarantee that tasks like Wi-Fi Global and other important matters are done properly. Utilizing the first Worldwide Payments very first payroll payment service is an excellent initial action towards providing a detailed payroll service for employees worldwide. Standardization, international processes, and reducing the variety of tools, platforms, and checking account necessary for worldwide payroll are key factors in achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as planned. Eventually, we do not do it for the gratitude.
anyhow we know how how important a role it is which'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 procedures and also so imagine sorry I'm just I was just gon na say envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task trying to clean up all those up for sure oh definitely 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 try to browse them and in fact see what was going on and sort of try to get back to everyone so moving on look why do business pick to primary separate checking account there are organizations out there doing precisely this for specific countries and I've worked in an organization or numerous organizations doing precisely that I can say it doesn't constantly feel effective and it does create more work I understand we're not intentionally doing that we're not developing additional work for anybody where we do not have to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the standard I believe individuals have got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to add to that people have actually looked 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 believe this is a process that requires taking a look at it needs altering but eventually individuals are really stuck to what they recognize
with right um change is a challenging thing all of us don't like change um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having maintaining several bank accounts but there's a huge amount of complexity goes with establishing a bank account preserving it ensuring it can send out International transfers ensuring it's established with the best user accesses for private people so the complexity is big however I believe the honest response is modification um individuals have not had the ability to alter or have not had necessarily 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 understanding you know and there is a component of resistance to change but we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or so there is a lot to track and this technique does posture a number of challenges um so Johnny might 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers 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
Papaya Global Bangalore Office Location