Find out more about Papaya Global Change Nominal Link Settings ... 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 acquired a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and reputable technique of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Employee Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive benefits plans to global staff members no matter the variety of employees in the company. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source regional advantages service providers in every nation, develop regional accounts and have a minimum variety of workers.
The HR capabilities supplied by Global HR include numerous functions such as keeping an eye on vacation time, ensuring compliance, facilitating the process of welcoming brand-new workers and bidding goodbye to leaving ones, using a safe online platform for keeping workers' files, and offering assistance for work permit treatments in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work expenses distributed per area, overall employment 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 throughout business handling and structure external relationships supporting Business customers and services along with functioning as an advisor for those of you that don't know who papaya International is papaya is the very first payroll and payments
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually sort of had a variety of various roles on the provider side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type 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 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 sunlight is it it's not no it's it's raining here it's very extremely dreary and I want I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business preserve separate
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is particularly helpful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex obstacle for services operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, find out how business forecast payroll costs to optimize working capital, and discover how improving worldwide payroll payments can change them from a burdensome job into a tactical possession.
Handling payroll globally is a challenging job due to various policies, compliance requirements, information security concerns, and banking guidelines. The sheer number of workers and businesses adds to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of combination, leading to disparities and inadequacies. Regardless of residing in a period of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to offer insights and solutions to simplify and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a business spends on global payroll the less of a picture they see an absence of visibility also extends to payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of worldwide services have 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 because of time reporting bad HCM information data entry errors improperly interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the information is shipped to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they depend on the required numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles company face when they're making payments to workers or otherwise that's a good question I always toss this back and state what is it what does not require to be consisted of best and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 complexity wherever you look ideal ultimately developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort 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 definitely essential and innovation is enabling us to kind of move forward with that it also also to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and financing teams work more detailed together than ever um I'm constantly amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on wellness and the payment landscape is ending up being increasingly detailed. Services are continually introducing brand-new advantages and payment alternatives, which adds to the total complexity. Big corporations typically divide their payroll and payment processing into different groups, which can result in inadequacies and traffic jams. In my opinion, this doesn't have to be the case. In today's highly innovative period, there's no justification for maintaining cumbersome treatments. Payroll, the business's greatest cost, should be processed correctly and on time. Even minor hold-ups can negatively impact workers' wellness and have far-reaching consequences. For that reason, it's vital to prioritize accurate and prompt payments.
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only observe when things go wrong. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's perceived externally also. Therefore, it is vital to guarantee that tasks like Wi-Fi Worldwide and other important matters are done properly. Using the first International Payments first payroll payment option is an excellent preliminary step towards providing a comprehensive payroll option for staff members worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and savings account necessary for worldwide payroll are key consider achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyhow we know how how important a function it is and that'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 associated with those processes and also so envision sorry I'm just I was simply gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions picture getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and type of shot to get back to everybody so proceeding appearance why do companies pick to primary separate checking account there are organizations out there doing precisely this for particular nations and I have actually operated in a service or numerous businesses doing exactly that I can state it doesn't constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not producing extra work for anybody where we don't have to and anyone that's dealing with 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 numerous reasons one is it's the standard I believe people have actually got so utilized to we require a new bank account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a process that needs looking at it needs altering however eventually individuals are extremely stuck with what they recognize
with right um modification is a hard thing we all do not like change um so I think it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having maintaining multiple savings account however there's a huge quantity of intricacy opts for setting up a savings account keeping it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is big but I believe the honest response is modification um people haven't been able to alter or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might practically be determined to be the next Century or two there is a lot to keep an eye on and this method does posture several difficulties um so Johnny could you inform us about those obstacles yeah of course so there's a variety right there is so
I simply did you switched our Business 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 Worldwide employees you deserve a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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