Find out more about Papaya Global Bureau Pricing ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and secure and reliable approach of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll process, saving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Employee Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive benefits plans to worldwide workers no matter the variety of workers in the company. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional advantages providers in every country, produce regional accounts and have a minimum variety of workers.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, overall work expenses distributed per location, overall work expenses per cycle and much more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout business handling and structure external relationships supporting Business clients and solutions as well as acting as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for most influential companies in the world we provide payroll payments and workforce management to all employee key ins over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent night depending upon where you remain in the world it's lovely to fulfill you and thank you very much 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 market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I have actually sort of had a range of different functions on the company side and likewise on the vendor side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays 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 truly 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 very very dreary and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why business keep separate
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is especially useful for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for organizations running internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll costs to optimize working capital, and find how streamlining global payroll payments can change them from a difficult task into a tactical property.
Handling payroll worldwide is a daunting task due to numerous policies, compliance requirements, data security concerns, and banking rules. The sheer number of workers and businesses contributes to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual procedures, information silos, and a lack of combination, resulting in inconsistencies and inadequacies. In spite of living in an era of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar aims to offer insights and solutions to simplify and enhance international payroll payments.
about it to give 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 sleepless nights and quite honestly the more a service invests in global payroll the less of a picture they see a lack of visibility also reaches payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide companies have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes improperly interacted hires and terminations as well as absence management and system setups and after that when you round everything off and the information is shipped to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they depend on the essential numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're paying to staff members or otherwise that's a great question I constantly toss this back and state what is it what does not need 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 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 complexity anywhere you look right ultimately building a knowledge base is absolutely vital but all over you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 fundamental and innovation is enabling us to kind of progress with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely crucial that payroll and finance teams work closer together than ever um I'm always amazed when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work 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 typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on well-being and the payment landscape is ending up being increasingly complex. Businesses are continuously introducing new advantages and payment alternatives, which contributes to the overall intricacy. Large corporations often divide their payroll and payment processing into different teams, which can result in ineffectiveness and traffic jams. In my viewpoint, this does not have to hold true. In today's highly sophisticated age, there's no justification for keeping cumbersome procedures. Payroll, the business's most significant expense, must be processed properly and on time. Even minor delays can negatively impact employees' wellness and have far-reaching effects. For that reason, it's critical to focus on precise and timely payments.
payroll team get um so I'm uncertain anyone on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the first International Payments very first payroll payment option is an excellent first step um providing an end-to-end payroll service for your workers worldwide once again I believe is another big um procedure once again lining up and ensuring you have standardization International processes all of those things are definitely essential to success success of businesses and decreasing the variety of tools platforms and savings account they need for their International 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 had a hundred countless them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're implied to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how essential 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 easy as possible for everybody that's involved in those processes and likewise so imagine sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and actually see what was going on and kind of shot to get back to everybody so moving on appearance why do business choose to primary different savings account there are services out there doing precisely this for specific nations and I've worked in a service or numerous businesses doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not producing additional work for anyone 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 amount that we are I believe lots of reasons one is it's the standard I think people have got so used to we need a brand-new checking account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and many other methods um to to kind of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing however ultimately individuals are extremely stuck with what they recognize
with ideal um modification is a hard thing we all don't like modification um so I think it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having keeping multiple checking account but there's a big amount of complexity goes with setting up a savings account preserving it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for specific individuals so the intricacy is big however I believe the honest answer is change um people have not been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we have actually always done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to keep track of and this method does position numerous obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a range 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 tasks on one platform. It seems like our CFO has acquired another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your accomplishments.
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