Find out more about Papaya Global Captcha ... 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 obtained a different Chief Financial Officer particularly committed to handling payments. This supplies us with a safe and reputable technique of paying to our 10,000 employees worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, conserving me a substantial amount of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Worker Website
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to worldwide employees no matter the variety of staff members in the business. The company can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local benefits providers in every country, create local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall employment expenses dispersed per place, total work costs per cycle and much more.
environments across the globe I offered 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 across the business handling and structure external relationships supporting Business customers and solutions as well as functioning as a consultant for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I have actually kind of had a variety of different roles on the provider side and likewise on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or so to join we all 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 everybody is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really really uninspiring and I wish I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business preserve separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a strategic asset uh we'll also discuss a wrap-up and that needs to leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more typical and managing them ends up being increasingly more complex Global companies are wanting to discover Solutions and brand-new ways to enhance processes specifically from a payroll and cross-border payment viewpoint lots of companies preserve different bank account just for payroll while some have numerous accounts in various nations does it make sense for business to maintain different bank accounts in some cases in various nations it does but just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business streamline the episode complex processes of
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, learn how business anticipate payroll costs to optimize working capital, and find how enhancing global payroll payments can transform them from a troublesome job into a strategic asset.
Managing payroll globally is a daunting job due to different policies, compliance requirements, data security issues, and banking guidelines. The large variety of staff members and businesses contributes to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual procedures, information silos, and an absence of integration, leading to inconsistencies and ineffectiveness. In spite of living in a period of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to supply insights and options to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that offers me sleepless nights and rather honestly the more a business spends on worldwide payroll the less of a picture they see an absence of visibility also encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of global businesses have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes improperly interacted hires and terminations in addition to lack management and system configurations and then when you round it all off and the information is shipped to the wrong place the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they rely on the essential several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service 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 does not require to be included right and what does
it need to be considered 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 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 consumer's own in-country account so there's complexity anywhere you look right ultimately developing a knowledge base is definitely critical however everywhere you look with payroll payment they are like incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort 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 basic and innovation is allowing us to sort of move forward with that it also too to contribute to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely important that payroll and finance groups work closer together than ever um I'm always impressed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split 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 information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high value on wellness and the payment landscape is becoming increasingly detailed. Organizations are continually introducing brand-new advantages and payment choices, which adds to the general complexity. Large corporations often divide their payroll and payment processing into separate teams, which can cause ineffectiveness and bottlenecks. In my viewpoint, this does not need to hold true. In today's technically innovative period, there's no justification for preserving cumbersome treatments. Payroll, the company's most significant expenditure, must be processed properly and on time. Even slight hold-ups can adversely impact employees' wellness and have significant consequences. For that reason, it's vital to prioritize accurate and timely payments.
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just observe when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally too. For that reason, it is vital to guarantee that jobs like Wi-Fi International and other crucial matters are done correctly. Using the very first Global Payments first payroll payment option is a fantastic preliminary step towards offering a comprehensive payroll option for workers worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and savings account required for international payroll are key consider attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as planned. Eventually, we don't do it for the appreciation.
anyway we understand how how essential 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 everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions picture getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and type of shot to return to everybody so carrying on look why do business select to primary different savings account there are organizations out there doing precisely this for specific countries and I have actually worked in a business or many services doing exactly that I can state it does not constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating extra work for anyone where we do not have to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the standard I think individuals have actually got so used to we need a new bank account we open an entity and appropriately so you need it for payroll purposes however 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 actually adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I think this is a process that requires looking at it needs changing however ultimately individuals are really stuck to what they're familiar
with ideal um change is a difficult thing all of us don't like change um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having keeping multiple bank accounts but there's a big amount of complexity goes with establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for private individuals so the intricacy is big however I think the truthful response is modification um people have not been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might practically be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does posture a number of obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I just did you changed our Business 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 International employees you deserve a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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