Find out more about Papaya Global Calendar ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and reliable technique of paying to our 10,000 employees worldwide.}
The advanced international payroll management app simplifies my payroll process, saving me a considerable amount of time each month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Worker Portal supplies employees with the ability to gain access to and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to worldwide employees despite the variety of employees in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the requirement to source local benefits suppliers in every nation, produce 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 workers' files and immigration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall employment expenses distributed per location, total work costs per cycle and a lot more.
environments around the world I offered leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across business handling and structure external relationships supporting Enterprise clients and services as well as acting as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for the majority of prominent companies on the planet we supply payroll payments and labor force management to all worker enters over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon excellent night depending upon where you remain in the world it's charming 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 remained in the payments market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I've sort of had a variety of different roles on the service provider side and also on the vendor side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really 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 drizzling here it's really very uninspiring and I want I was elsewhere at this moment in time alright so let's get going our agenda 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 different
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is especially useful for global companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex obstacle for services operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to enhance working capital, and find how streamlining international payroll payments can change them from a troublesome task into a tactical possession.
Handling payroll internationally is a difficult task due to numerous policies, compliance requirements, information security concerns, and banking rules. The sheer variety of workers and organizations contributes to the complexity, with an approximated 3.5 billion people in the international labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems typically lead to manual procedures, information silos, and an absence of combination, leading to inconsistencies and ineffectiveness. Despite residing in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to supply insights and solutions to simplify and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more a business spends on international payroll the less of a picture they see an absence of visibility also extends to payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the transaction nearly half of global companies have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes poorly communicated hires and terminations along with absence management and system configurations and after that when you round all of it off and the information is delivered to the incorrect location the typical cost 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 all over the world payroll and payments do not run efficiently if they count on the essential multiple 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 staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't need to be included best and what does
it need to be thought of there's differing Bank details 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 anywhere you look right eventually constructing a knowledge base is absolutely vital however all over you look with payroll payment they are like very payments no if however 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 recognition that payroll payments are absolutely fundamental and innovation is enabling us to sort of progress with that it likewise too to add to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely necessary that payroll and finance teams work more detailed together than ever um I'm constantly impressed when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate 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 frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on wellness and the payment landscape is ending up being significantly elaborate. Organizations are continuously presenting brand-new benefits and payment choices, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't need to be the case. In today's technically innovative age, there's no validation for keeping troublesome procedures. Payroll, the business's greatest cost, must be processed properly and on time. Even minor hold-ups can negatively affect workers' well-being and have significant effects. For that reason, it's vital to focus on accurate and prompt payments.
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just discover when things fail. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally also. For that reason, it is necessary to guarantee that jobs like Wi-Fi Global and other essential matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment solution is a fantastic initial action towards supplying a comprehensive payroll solution for staff members worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and bank accounts needed for worldwide payroll are essential consider achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as prepared. Eventually, we don't do it for the thankfulness.
anyway we know how how crucial 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 easy as possible for everybody that's involved in those processes and also so imagine sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task attempting to clean all those up for sure oh absolutely I can't picture 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 really see what was going on and type of shot to return to everybody so moving on look why do companies choose to primary separate savings account there are companies out there doing exactly this for specific countries and I have actually worked in a business or many organizations doing exactly that I can say it doesn't always feel efficient and it does develop more work I know we're not deliberately doing that we're not producing additional work for anyone where we don't have to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think lots of reasons one is it's the requirement I believe individuals have actually got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I think this is a procedure that needs taking a look at it needs altering however eventually individuals are really stuck with what they're familiar
with right um change is a hard thing all of us do not like modification um so I believe it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having preserving several bank accounts but there's a substantial quantity of intricacy chooses setting up a bank account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the intricacy is huge however I believe the sincere response is modification um people haven't had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century or so there is a lot to keep an eye on and this approach does present several obstacles um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you are worthy of a corner workplace with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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