Find out more about Papaya Global Book ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and dependable approach of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Staff member Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment files. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive advantages plans to worldwide employees regardless of the variety of staff members in the company. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local benefits service providers in every country, develop local accounts and have a minimum number of workers.
The HR abilities offered by International HR incorporate numerous functions such as keeping an eye on vacation time, ensuring compliance, assisting in the procedure of inviting brand-new workers and bidding goodbye to leaving ones, providing a protected online platform for keeping workers' files, and supplying assistance for work permit treatments in case your staff members need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall work costs dispersed per area, overall employment expenses per cycle and a lot more.
environments around the world I offered management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work across the business managing and building external relationships supporting Business clients 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
company to make the time 100 list for the majority of influential companies worldwide we supply payroll payments and workforce management to all staff member enters 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 naturally thank you good morning excellent afternoon excellent night depending upon where you remain in the world it's lovely to satisfy 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 been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've kind of had a range of different functions on the supplier side and likewise on the vendor side from a payroll point of view so truly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody 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 certainly not the peak of the sunshine is it it's not no it's it's raining here it's very extremely uninspiring and I want I was somewhere else 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 challenge years of managing Worldwide payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we'll also discuss a wrap-up and that should leave his time at the really really 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 Worldwide workforces end up being increasingly more common and managing them becomes more and more complex International organizations are seeking to discover Solutions and new ways to improve processes especially from a payroll and cross-border payment viewpoint lots of companies preserve separate bank account just for payroll while some have numerous accounts in different countries does it make sense for companies to preserve different checking account in some cases in various countries it does but just for payroll is there a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business improve the episode complex procedures of
Making sure precise, efficient, and timely payroll payments is a complex obstacle for services 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 costs to enhance working capital, and find how simplifying worldwide payroll payments can change them from a difficult task into a strategic property.
Handling payroll worldwide is a daunting job due to different regulations, compliance requirements, information security concerns, and banking guidelines. The sheer number of staff members and services adds to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently lead to manual processes, information silos, and an absence of integration, causing disparities and inadequacies. In spite of living in an era of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to offer insights and solutions to simplify and optimize international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that provides me sleepless nights and quite frankly the more a service invests in worldwide payroll the less of a photo they see an absence of exposure also encompasses payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide services have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes improperly communicated hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the wrong location the average expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide 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 needs to be factored into the difficulties service face when they're making payments to workers or otherwise that's a good concern I constantly toss this back and say what is it what does not need to be consisted of ideal and what does
it need to be thought about there's varying 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 capabilities 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 consumer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is definitely crucial however everywhere you look with payroll payment they are like incredibly payments no if but some children 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 allowing us to type of move on with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is definitely essential that payroll and financing groups work more detailed together than ever um I'm always surprised when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to add to kind of the level of intricacy there's a growing number of advantages being organ or being provided by organizations throughout the world so once again you're simply wanting to add more and more payments to this currently intricate landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of real difficulties or real challenging kind of pay uses to play to pay people I believe yeah I mean over the last well yeah a couple of decades I would definitely state that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding information into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to create additional handoffs at the same times that we operate in they simply make them more prompt they make them less effective and they do not make them what they require to be in in an era of tech and a period that you understand that we are operating in today there is no reason we are still making this as hard as it requires to be concurred and rightly as you stated payroll is the single most significant liability that any service has from an expense viewpoint from an effect point of view on staff members it is absolutely vital that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest detrimental impact on people's wellness and lots of other elements if individuals aren't paid uh I have actually constantly been surprised coming into this Market sort of the last five to ten years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people just notice when things go wrong. Nevertheless, when things go right, it's seen as simply a routine job. This is how it's perceived externally too. Therefore, it is important to make sure that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Using the first Worldwide Payments very first payroll payment solution is a great initial step towards providing an extensive payroll option for employees worldwide. Standardization, international procedures, and minimizing the number of tools, platforms, and savings account required for international payroll are crucial consider accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we know how how important a function 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 everybody that's associated with those processes and likewise so imagine sorry I'm simply 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'm sure we're speaking about numerous thousands possibly Millions envision getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job attempting to clean 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 attempt to look through them and actually see what was going on and kind of shot to return to everyone so moving on look why do companies choose to main different savings account there are companies out there doing precisely this for particular nations and I've operated in a business or numerous businesses doing exactly that I can say it does not always feel effective and it does develop more work I know we're not intentionally doing that we're not creating additional work for anybody where we don't need to and anybody that's handling that process 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 requirement I believe people have actually got so utilized to we require a new bank account we open an entity and rightly so you need it for payroll functions 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 adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I think this is a procedure that requires looking at it needs changing however ultimately people are very stuck to what they recognize
with ideal um change is a difficult thing we all don't like modification um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having preserving multiple checking account however there's a huge amount of intricacy chooses establishing a savings account preserving it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for individual individuals so the complexity is big but I think the sincere answer is modification um people haven't been able to change or have not had always the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we've 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 could nearly be figured out to be the next Century or two there is a lot to keep an eye on and this approach does pose numerous difficulties um so Johnny could you inform us about those difficulties yeah of course so there's a range 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 Global workers you deserve a corner office with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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