Find out more about Papaya Global Direct Earnings Attachment ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to managing payments. This offers us with a protected and trusted approach of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Employee Website
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work files. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive benefits bundles to global workers regardless of 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 need to source regional advantages suppliers in every country, create regional accounts and have a minimum number of employees.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total employment expenses distributed per location, overall work expenses per cycle and far more.
environments across the globe I offered leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business handling and structure external relationships supporting Business clients and solutions as well as serving as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We focus on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's an enjoyment to fulfill 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 actually concentrated on payroll and payment options for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually type of had a variety of different roles on the company side and likewise on the supplier side from a payroll perspective so really anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everyone comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely really uninspiring and I wish I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why business keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical asset uh we'll likewise go over a wrap-up which ought to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being a growing number of common and handling them ends up being increasingly more intricate Global organizations are seeking to find Solutions and new methods to streamline processes particularly from a payroll and cross-border payment standpoint numerous companies maintain separate savings account just for payroll while some have numerous accounts in different nations does it make good sense for companies to keep different checking account in some cases in various nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international business improve the episode complex processes of
Ensuring precise, effective, and timely payroll payments is a complex difficulty for businesses operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to optimize working capital, and discover how improving global payroll payments can change them from a troublesome task into a tactical property.
Managing payroll globally is a difficult job due to numerous guidelines, compliance requirements, data security concerns, and banking rules. The large variety of workers and companies contributes to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems typically lead to manual processes, information silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. In spite of residing in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to provide insights and options to streamline 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 companies state they have Labor force data in real time that's another number that gives me sleepless nights and rather frankly the more a business invests in international payroll the less of a photo they see an absence of visibility likewise encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide services have actually 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 due to time reporting bad HCM information information entry errors badly interacted hires and terminations along with lack management and system setups and after that when you round it all off and the data is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they count on the necessary several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're paying to employees or otherwise that's a good concern I constantly throw this back and state what is it what doesn't require to be consisted of ideal 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 country there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look best eventually constructing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and technology is allowing us to sort of move forward with that it likewise also to add to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm constantly astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from computation 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 information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high worth on well-being and the compensation landscape is becoming significantly detailed. Businesses are continually introducing brand-new benefits and payment alternatives, which contributes to the total complexity. Big corporations often divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my opinion, this does not need to hold true. In today's highly innovative age, there's no validation for maintaining cumbersome procedures. Payroll, the company's greatest expense, should be processed properly and on time. Even minor delays can adversely affect workers' well-being and have far-reaching consequences. Therefore, it's critical to prioritize accurate and timely payments.
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only observe when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's viewed externally also. For that reason, it is vital to make sure that jobs like Wi-Fi Worldwide and other important matters are done properly. Using the very first International Payments first payroll payment solution is a fantastic preliminary step towards providing a thorough payroll solution for employees worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and bank accounts essential for worldwide payroll are key consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things do not go as planned. Eventually, we do not do it for the appreciation.
anyhow 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 easy as possible for everybody that's associated with those processes and also so envision 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'm sure we're speaking about hundreds of thousands potentially Millions picture getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and actually see what was going on and type of shot to return to everyone so moving on appearance why do business select to primary separate bank accounts there are organizations out there doing precisely this for particular nations and I have actually worked in an organization or many businesses doing exactly that I can say it doesn't constantly feel effective and it does produce more work I understand we're not purposely doing that we're not creating additional work for anyone where we don't have to and anybody that's managing 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 quantity that we are I believe many reasons one is it's the requirement I think people have got so utilized to we require a brand-new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually embraced and continue to do over years and years passed by 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 looking at it requires altering but eventually individuals are really stuck to what they're familiar
with best um modification is a hard thing all of us don't like change um so I believe it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having keeping numerous bank accounts but there's a substantial quantity of intricacy chooses setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual individuals so the complexity is huge but I believe the sincere response is modification um individuals have not been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century approximately there is a lot to keep an eye on and this method does position several obstacles um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I simply 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 workers you are worthy of a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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