Find out more about Papaya Global For Large Companies ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a secure and reputable approach of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app streamlines my payroll procedure, saving me a considerable quantity of time each month. With its easy to use user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
Worker Website
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive benefits bundles to worldwide staff members no matter the number of employees in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages suppliers in every nation, produce regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, overall work expenses dispersed per area, total work 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 nations today I'm the payroll strategies for as Mark said I work across business handling and structure external relationships supporting Business customers and solutions along with acting as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent business on the planet 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 introduce yourself obviously thank you good morning great afternoon good night depending on where you remain in the world it's beautiful to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and particularly 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 decided to kind of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of different roles on the provider side and likewise on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating 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 actually 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 raining here it's extremely very uninspiring and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is particularly useful for global companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for services running worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, discover how business anticipate payroll expenses to enhance working capital, and find how enhancing worldwide payroll payments can change them from a challenging task into a tactical possession.
Handling payroll globally is a daunting task due to various regulations, compliance requirements, data security concerns, and banking rules. The sheer number of staff members and companies contributes to the complexity, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and an absence of combination, causing inconsistencies and ineffectiveness. Despite living in an era 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 simplify and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that gives me sleep deprived nights and quite honestly the more a service spends on international payroll the less of an image they see an absence of visibility also extends to payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the deal nearly half of global businesses have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors poorly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the information is shipped to the incorrect location the typical cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they rely on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges service face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and say what is it what does not need to be included best and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan 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 customer's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a 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 definitely fundamental and innovation is allowing us to kind of move on with that it likewise also to add to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and finance groups work more detailed together than ever um I'm constantly impressed when people state 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 occupation would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of crucial to contribute to kind of the level of complexity there's increasingly more benefits being organ or being offered by services throughout the world so again you're just seeking to include a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine challenges or genuine challenging type of pay uses to play to pay people I believe yeah I mean over the last well yeah a couple of decades I would certainly say that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding information into the next function as it were that's really managing the payment side of things but you know in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we require to develop extra handoffs while doing sos that we run in they just make them more timely they make them less effective and they don't 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 requires to be agreed and rightly as you said payroll is the single greatest liability that any service has from an expense perspective from an impact perspective on employees it is definitely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest detrimental result on people's wellness and many other aspects if people aren't paid uh I've constantly been astonished entering this Market sort of the last 5 to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle all of us hear about it when it goes wrong everybody jumps up and down when it goes wrong however 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 stuff is absolutely crucial that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment solution is an excellent primary step um providing an end-to-end payroll option for your employees worldwide once again I think is another huge um process once again lining up and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of services and lowering 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've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I don't believe any of us are in fact 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 everyone that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na state think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions think of getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating 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 held true um you 'd require days of the week to attempt to browse them and actually see what was going on and sort of try to get back to everybody so carrying on look why do business select to main separate bank accounts there are services out there doing precisely this for specific nations and I have actually worked in a company or numerous companies doing precisely that I can state it does not always feel effective and it does produce more work I understand we're not purposely doing that we're not developing additional work for anyone where we do not have to and anyone 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 believe lots of reasons one is it's the standard I believe individuals have got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a range I believe this is a procedure that requires looking at it needs altering but ultimately people are extremely stuck with what they recognize
with right um modification is a challenging thing we all do not like modification um so I think it's simply sort of moving far 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 keeping several savings account but there's a big amount of intricacy opts for establishing a savings account keeping it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for individual individuals so the intricacy is big but I believe the sincere response is modification um people have not been able to alter or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we've 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 understand what might almost be figured out to be the next Century or so there is a lot to keep track of and this approach does pose numerous obstacles um so Johnny could you tell us about those challenges yeah of course so there's a variety right there is so
I simply did you switched 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 Global employees you should have a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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