Find out more about Papaya Global Cost Uk ... We now have the ability to handle both our payroll and payments processes on one merged 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 trusted method of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Staff member Portal
Workers have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment files. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive benefits packages to international employees regardless of the variety of employees in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source local advantages providers in every nation, produce regional accounts and have a minimum number of staff members.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total employment costs distributed per area, total work expenses per cycle and a lot more.
environments across the globe I offered management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work across business handling and building external relationships supporting Business clients and services along with acting as an advisor for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment options for the past seven years. The complexities and obstacles of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually sort of had a variety of various functions on the service provider side and likewise on the vendor side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everyone 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 sort of let them do that so it 'd be rather interesting 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 actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely uninspiring and I wish I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business maintain different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical asset uh we'll also go over a wrap-up and that ought to leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more common and handling them ends up being a growing number of complex Worldwide organizations are looking to discover Solutions and new methods to enhance procedures specifically from a payroll and cross-border payment perspective many organizations maintain separate savings account just for payroll while some have multiple accounts in different countries does it make good sense for business to preserve different savings account often in various countries it does but just for payroll exists a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational business enhance the episode complex processes of
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and discover how simplifying global payroll payments can transform them from a challenging task into a tactical asset.
Managing payroll worldwide is an overwhelming task due to various policies, compliance requirements, data security issues, and banking rules. The large variety of staff members and organizations adds to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently result in manual procedures, data silos, and an absence of combination, leading to disparities and inadequacies. Despite living in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to provide insights and options 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 businesses state they have Labor force information in real time that's another number that offers me sleepless nights and quite frankly the more an organization invests in worldwide payroll the less of a photo they see an absence of exposure also encompasses payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of international businesses have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors inadequately communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the data is delivered to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they count on the necessary several processes systems and partners it is simply 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 making payments to workers or otherwise that's a good question I constantly toss this back and say what is it what does not need to be consisted of ideal and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 have to pay from the customer's own in-country account so there's intricacy wherever you look right ultimately constructing a knowledge base is definitely important however everywhere you look with payroll payment they are like super payments no if however some infants 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 definitely fundamental and technology is permitting us to kind of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely vital that payroll and financing groups work more detailed together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not 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 typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to contribute to type of the level of intricacy there's more and more benefits being organ or being used by services throughout the world so once again you're simply wanting to add increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real difficulties or real difficult kind of pay utilizes to play to pay people I think yeah I mean over the last well yeah a couple of years I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding information into the next function as it were that's actually managing the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to create extra handoffs in the processes that we run in they just make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you understand that we are working in today there is no reason why we are still making this as difficult as it needs to be concurred and rightly as you said payroll is the single biggest liability that any service has from a cost perspective from an impact viewpoint on staff members it is definitely vital that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest harmful effect on people's wellness and many other factors if individuals aren't paid uh I have actually always been surprised coming into this Market sort of the last five to 10 years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just observe when things go wrong. However, when things go right, it's viewed as simply a routine task. This is how it's perceived externally as well. For that reason, it is important to ensure that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Using the first Global Payments first payroll payment option is a fantastic initial action towards supplying a detailed payroll solution for staff members worldwide. Standardization, international processes, and reducing the number of tools, platforms, and bank accounts essential for international payroll are essential consider achieving organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things do not go as planned. Eventually, we do not do it for the appreciation.
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 simple as possible for everyone that's associated with those procedures and likewise so picture sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and really see what was going on and kind of try to get back to everybody so moving on appearance why do companies pick to primary different bank accounts there are organizations out there doing exactly this for specific nations and I've operated in a company or numerous companies doing exactly that I can state it doesn't always feel effective and it does create more work I understand we're not deliberately doing that we're not producing additional work for anyone where we don't need to and anybody that's managing 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 amount that we are I think numerous reasons one is it's the requirement I believe people have actually got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the standard and the norm the people have embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I think this is a process that needs looking at it requires altering however ultimately individuals are very stuck with what they recognize
with best um change is a challenging thing we all do not like change um so I think it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having preserving numerous bank accounts but there's a huge amount of complexity goes with establishing a bank account preserving it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for private people so the complexity is substantial however I believe the truthful response is modification um individuals have not had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to alter but 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 know what could practically be figured out to be the next Century or so there is a lot to keep an eye on and this technique does present numerous challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this improved ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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