Find out more about Papaya Global Changing From Weekly To Monthly ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and reputable technique of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app improves my payroll procedure, saving me a considerable amount of time every month. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Staff member Website supplies workers with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is used in different languages.
Advantages Administration
Papaya Global assists business use competitive advantages packages to worldwide employees no matter the number of employees in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional benefits companies in every country, produce local accounts and have a minimum number of workers.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, overall employment expenses dispersed per location, overall work costs per cycle and far 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 methods for as Mark said I work across the business managing and structure external relationships supporting Enterprise clients and services in addition to acting as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential companies worldwide we offer payroll payments and labor force management to all worker types in 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 great afternoon great night depending upon where you are in the world it's beautiful to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated 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 have actually kind of had a range of various roles on the supplier side and likewise on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds approximately to join we all 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 just to hear where everybody is um it's nice to to type of like see where everybody originates from and I really do hope it's much sunnier than it remains 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 extremely really bleak and I want 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 challenge years of handling Global payroll why business maintain different
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining separate checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex challenge for companies operating worldwide. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, learn how companies forecast payroll costs to enhance working capital, and discover how streamlining international payroll payments can change them from a burdensome job into a strategic possession.
Managing payroll internationally is a challenging job due to various guidelines, compliance requirements, information security issues, and banking rules. The large number of workers and organizations contributes to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual procedures, information silos, and a lack of integration, leading to inconsistencies and inefficiencies. Despite living in an age of technological improvements, payroll management has actually 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 streamline and optimize international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more a company invests in global payroll the less of a photo they see a lack of exposure also encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of global companies have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors poorly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the information is delivered to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they depend on the required multiple procedures 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 challenges service face when they're paying to employees or otherwise that's a great concern I constantly throw this back and say what is it what doesn't need to be included ideal and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities 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 customer's own in-country account so there's intricacy wherever you look best eventually developing a knowledge base is absolutely important however all over you look with payroll payment they resemble extremely 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 think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is permitting us to kind of move forward with that it likewise as well to add to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work more detailed together than ever um I'm constantly amazed when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work 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 often 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 people any place they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on wellness and the payment landscape is ending up being significantly elaborate. Businesses are continuously presenting brand-new benefits and payment choices, which contributes to the general intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my viewpoint, this does not need to hold true. In today's technologically innovative period, there's no validation for preserving cumbersome treatments. Payroll, the company's biggest expenditure, must be processed correctly and on time. Even slight hold-ups can adversely impact employees' well-being and have significant repercussions. Therefore, it's important to focus on accurate and prompt payments.
payroll team get um so I'm not exactly sure anyone on this type of webinar has been informed 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 employees or not um however ultimately payroll is such an important cycle we all become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think 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 correctly so leveraging the first International Payments first payroll payment option is an excellent initial step um providing an end-to-end payroll solution for your employees internationally once again I think is another huge um process again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of companies and lowering the number of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyhow 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 procedures and likewise so think of sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions picture getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job 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 need days of the week to try to browse them and in fact see what was going on and type of shot to return to everyone so carrying on look why do business select to primary different checking account there are companies out there doing exactly this for particular countries and I have actually operated in a company or lots of businesses doing precisely that I can state it does not constantly feel effective 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 anybody that's dealing with 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 think many factors one is it's the standard I believe people have got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually adopted and continue to do over years and years gone past to add to that people have actually 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 requires taking a look at it needs altering but eventually people are extremely stuck with what they recognize
with ideal um change is a tough thing we all do not like modification um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having maintaining several savings account but there's a substantial amount of complexity opts for setting up a bank account keeping it guaranteeing it can send International transfers ensuring it's established with the best user accesses for specific people so the complexity is huge however I think the sincere response is change um individuals have not had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be determined to be the next Century or two there is a lot to keep an eye on and this approach does present numerous challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this enhanced capability, I have effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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