Find out more about Papaya Global Departments ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to managing payments. This provides us with a secure and reputable method of making payments to our 10,000 workers worldwide.}
The innovative global payroll management app simplifies my payroll process, saving me a considerable quantity of time each month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
The Employee Website offers staff members with the capability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to international staff members despite the variety of employees in the company. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source regional benefits companies in every nation, produce regional accounts and have a minimum number of employees.
The HR capabilities supplied by International HR include various functions such as monitoring vacation time, ensuring compliance, facilitating the procedure of welcoming brand-new workers and bidding farewell to departing ones, using a safe online platform for storing workers' documents, and providing assistance for work permit procedures in case your staff members require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall employment expenses dispersed per place, overall employment costs per cycle and far more.
Worldwide, I have actually demonstrated management and tactical know-how in guiding massive populations of over 100,000 employees across 170 countries. Presently, I are accountable for managing payroll techniques, as mentioned by Mark. My function involves managing and developing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for the majority of prominent companies on the planet we provide payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon great night depending on where you are in the world it's charming 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 remained in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of different roles on the provider side and likewise on the vendor side from a payroll point of view so really anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or two 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 currently simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very gloomy and I wish I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why business preserve separate
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for services running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, discover how companies forecast payroll costs to enhance working capital, and discover how simplifying global payroll payments can transform them from a challenging job into a strategic property.
Handling payroll worldwide is a challenging job due to numerous regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of employees and services adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems typically result in manual procedures, data silos, and an absence of combination, leading to inconsistencies and inefficiencies. Regardless of living in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to supply insights and options to streamline and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more a company invests in global payroll the less of an image they see an absence of visibility likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide businesses have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors badly communicated 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 location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe 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 needs to be factored into the challenges business face when they're making payments to workers or otherwise that's a good concern I constantly throw this back and state what is it what does not need to be included ideal 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 time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity any place you look best ultimately building a knowledge base is definitely important however all over you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is permitting us to kind of progress with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely imperative that payroll and finance teams work more detailed together than ever um I'm constantly amazed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split 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 eventually it's payroll is an end-to-end process 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 3rd parties so with the
The modern-day world puts a high value on well-being and the compensation landscape is ending up being increasingly complex. Companies are constantly introducing new benefits and payment alternatives, which contributes to the overall intricacy. Large corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technically advanced period, there's no reason for maintaining troublesome treatments. Payroll, the company's most significant expenditure, should be processed properly and on time. Even slight hold-ups can adversely impact workers' well-being and have far-reaching effects. For that reason, it's critical to focus on accurate and prompt payments.
payroll group get um so I'm not sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle we all hear about it when it goes wrong 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 deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment service is a fantastic primary step um offering an end-to-end payroll option for your workers internationally once again I think is another huge um process once again aligning and ensuring you have standardization Global procedures all of those things are definitely essential to success success of businesses and reducing the number of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone quite where they're indicated to be um I don't think any of us are actually doing that for for the thanks
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 also so picture sorry I'm just I was simply gon na state think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and really see what was going on and sort of shot to get back to everybody so moving on appearance why do business pick to main different bank accounts there are services out there doing precisely this for specific countries and I've operated in a service or lots of services doing exactly that I can state it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not producing extra work for any person where we do not have to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous factors one is it's the requirement I think individuals have actually got so used to we need a new bank account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have 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 variety I believe this is a process that needs looking at it requires changing but eventually individuals are extremely stuck with what they're familiar
with best um change is a difficult thing we all don't like modification um so I think it's just 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 obviously the benefits of having maintaining multiple bank accounts however there's a big quantity of intricacy chooses setting up a savings account keeping it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the intricacy is big but I believe the sincere response is modification um people haven't been able to change or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I think it is knowledge you understand and there is an element of resistance to alter however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to track and this technique does position numerous obstacles um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I simply did you switched our Enterprise 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 workers 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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