Find out more about Papaya Global Journal ... 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 gotten a separate Chief Financial Officer particularly dedicated to managing payments. This supplies us with a secure and reputable method of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and contractors
Worker Website
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment files. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to worldwide staff members despite the variety of employees in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source regional advantages providers in every country, create regional accounts and have a minimum variety of workers.
The HR abilities supplied by Global HR encompass various functions such as monitoring getaway time, ensuring compliance, helping with the procedure of welcoming brand-new staff members and bidding farewell to departing ones, providing a safe and secure online platform for storing workers' documents, and supplying assistance for work allow procedures in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment expenses dispersed per location, overall employment costs per cycle and far more.
environments across the globe I supplied management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark stated I work across business handling and building external relationships supporting Enterprise customers and services in addition to functioning as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for most prominent companies worldwide we provide payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon excellent evening depending upon where you remain in the world it's charming to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was amazed by the complexity the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely 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 looking at the challenge years of managing Global payroll why companies keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll also review a recap which should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more common and managing them ends up being increasingly more complicated Worldwide organizations are seeking to find Solutions and new ways to enhance processes especially from a payroll and cross-border payment perspective lots of organizations preserve separate savings account just for payroll while some have numerous accounts in different countries does it make good sense for business to preserve separate checking account often in different nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business simplify the episode complex processes of
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for organizations running internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, learn how companies forecast payroll expenses to optimize working capital, and discover how improving international payroll payments can change them from a burdensome job into a strategic asset.
Managing payroll internationally is a complicated job due to various regulations, compliance requirements, information security issues, and banking rules. The sheer variety of employees and companies contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and a lack of integration, causing disparities and inadequacies. In spite of residing in an era of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to supply insights and options to streamline and optimize global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a company spends on international payroll the less of an image they see a lack of visibility likewise reaches payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of worldwide services have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors improperly 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 wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they count on the essential numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges company face when they're making payments to workers or otherwise that's an excellent concern I constantly throw this back and state what is it what does not need to be consisted of best and what does
it need to be thought of there's differing Bank information 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 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 intricacy anywhere you look right ultimately constructing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like very payments no if but some children 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 believe there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to kind of progress with that it also also to add to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely essential that payroll and financing groups work closer together than ever um I'm always surprised when individuals 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 occupation 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 often 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 wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on wellness and the settlement landscape is becoming significantly detailed. Organizations are continuously introducing new advantages and payment alternatives, which adds to the general intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my opinion, this does not have to be the case. In today's highly sophisticated era, there's no reason for maintaining cumbersome procedures. Payroll, the business's biggest expenditure, should be processed correctly and on time. Even slight hold-ups can adversely affect employees' well-being and have far-reaching repercussions. Therefore, it's critical to focus on accurate and prompt payments.
payroll team get um so I'm not exactly sure anyone on this sort of webinar has actually been informed 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 ultimately payroll is such a crucial cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong however 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 stuff is definitely essential that all of this things is done properly so leveraging the first Global Payments first payroll payment option is an excellent primary step um providing an end-to-end payroll service for your employees globally once again I think is another huge um procedure once again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of businesses and lowering the variety of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyway we understand how how crucial a function 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 processes and also so envision sorry I'm just I was simply gon na say picture 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 talking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and actually see what was going on and kind of try to return to everybody so proceeding appearance why do business select to primary separate bank accounts there are organizations out there doing exactly this for specific nations and I have actually operated in a company or many services doing precisely that I can say it does not constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anybody where we don't have to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I think individuals have got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I think this is a process that needs looking at it needs changing however eventually individuals are really stuck to what they're familiar
with ideal um modification is a tough thing we all don't like modification um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having maintaining multiple checking account but there's a substantial amount of complexity opts for establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private individuals so the complexity is substantial but I believe the honest answer is change um individuals have not been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is a component of resistance to change however we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could almost be identified to be the next Century approximately there is a lot to track and this approach does present numerous challenges um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I simply did you changed our Enterprise 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 Worldwide staff members you should have a corner office with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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