Find out more about Papaya Global Download V27 ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This provides us with a secure and dependable technique of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and contractors
Employee Website
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work documents. The website is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive advantages bundles to worldwide staff members despite the variety of employees in the company. The business can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source regional benefits companies in every nation, produce regional accounts and have a minimum variety of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall work expenses distributed per location, total employment expenses per cycle and far more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work across business managing and building external relationships supporting Business customers and solutions as well as serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential business on the planet we provide payroll payments and workforce management to all worker types in over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon excellent evening depending upon where you are in the world it's charming to meet 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've remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and chose to sort 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 functions on the company side and also on the supplier side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite 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 comes from and I actually 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 drizzling here it's very really bleak and I want I was elsewhere at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya International payroll payments as a tactical possession uh we'll likewise discuss a recap and that needs to leave his time at the very extremely 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 International labor forces become increasingly more typical and handling them becomes a growing number of complicated International companies are seeking to find Solutions and brand-new ways to improve processes particularly from a payroll and cross-border payment perspective numerous companies keep separate checking account just for payroll while some have numerous accounts in different countries does it make sense for companies to keep separate savings account in some cases in different countries it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business simplify the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for services operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll expenses to optimize working capital, and find how streamlining worldwide payroll payments can transform them from a troublesome task into a strategic possession.
Handling payroll worldwide is a challenging task due to different policies, compliance requirements, data security concerns, and banking guidelines. The sheer number of workers and services contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems often result in manual procedures, data silos, and an absence of combination, resulting in disparities and ineffectiveness. In spite 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, frequently using pen and paper. This webinar goals to provide insights and services to streamline and enhance worldwide payroll payments.
about it to give you an idea 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 gives me sleep deprived nights and quite honestly the more a business spends on global payroll the less of a photo they see a lack of exposure likewise extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of international services have 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 due to time reporting bad HCM data information entry errors badly communicated hires and terminations in addition to lack management and system setups and then when you round it all off and the information is shipped to the incorrect location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they depend on the required numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to workers or otherwise that's a great concern I always toss this back and say what is it what doesn't need to be consisted of right and what does
it require to be thought of there's varying Bank details 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 abilities 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 intricacy any place you look ideal eventually building a knowledge base is definitely crucial but everywhere you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a 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 definitely basic and technology is permitting us to sort of move forward with that it also too to add to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely essential that payroll and financing teams work better together than ever um I'm always impressed when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high worth on wellness and the compensation landscape is becoming progressively intricate. Organizations are continually presenting brand-new advantages and payment choices, which adds to the overall complexity. Big corporations often divide their payroll and payment processing into separate groups, which can result in inefficiencies and bottlenecks. In my viewpoint, this does not have to be the case. In today's technically advanced period, there's no justification for preserving cumbersome treatments. Payroll, the company's most significant expense, need to be processed correctly and on time. Even slight delays can adversely affect employees' well-being and have far-reaching effects. For that reason, it's vital to prioritize precise and prompt payments.
payroll team get um so I'm not sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider 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 things is done properly so leveraging the very first Worldwide Payments first payroll payment option is a terrific initial step um supplying an end-to-end payroll option for your employees worldwide once again I think is another substantial um process once again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of companies and decreasing the variety of tools platforms and bank accounts they need 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 ever had a hundred countless 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 complaints where things have not gone rather where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand how how essential a role 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 think of sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job attempting to clean up 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 require days of the week to try to look through them and in fact see what was going on and kind of try to return to everybody so carrying on look why do business select to main separate savings account there are companies out there doing precisely this for particular nations and I've worked in an organization or many organizations doing exactly that I can say it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing additional work for any person where we don't have to and anyone that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the standard I believe individuals have actually got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm 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 numerous other methods um to to type of do it so I believe there's a range I think this is a process that needs taking a look at it needs changing however eventually individuals are very stuck with what they recognize
with best um change is a tough thing we all don't like modification um so I think it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having preserving multiple savings account but there's a huge quantity of complexity opts for establishing a savings account preserving it ensuring it can send International transfers ensuring it's set up with the right user accesses for individual people so the intricacy is huge but I believe the honest answer is modification um individuals have not been able to alter or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be identified to be the next Century or so there is a lot to keep an eye on and this technique does posture numerous difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your achievements.
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