Find out more about Papaya Global Live Chat ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and secure and dependable technique of paying to our 10,000 employees worldwide.}
The advanced global payroll management app enhances my payroll procedure, saving me a significant amount of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Employee Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to international workers no matter the variety of staff members in the business. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source regional advantages service providers in every nation, develop local accounts and have a minimum number of workers.
Global HR Functionalities
'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 support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, total employment expenses dispersed per location, overall employment costs per cycle and much more.
environments across the globe I provided management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across business managing and structure external relationships supporting Enterprise customers and services in addition to functioning as an advisor for those of you that don't know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential companies on the planet we supply payroll payments and workforce management to all worker enters over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon good evening depending upon where you are in the world it's lovely to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 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 genuine go at that over the last five or six years where I've kind of had a variety of various functions on the supplier side and also on the vendor side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting 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 everybody comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really uninspiring and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical possession uh we'll likewise discuss a wrap-up and that must leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers 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 becomes more and more complex Global companies are wanting to discover Solutions and new methods to simplify processes particularly from a payroll and cross-border payment viewpoint lots of organizations keep separate bank account just for payroll while some have several accounts in various nations does it make good sense for business to keep different bank accounts often in various countries it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational companies simplify the episode complex processes of
Making sure accurate, effective, and timely payroll payments is a complex challenge for organizations running worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, learn how business anticipate payroll costs to enhance working capital, and discover how streamlining global payroll payments can change them from a troublesome job into a strategic possession.
Handling payroll internationally is an overwhelming task due to various guidelines, compliance requirements, data security concerns, and banking rules. The large number of workers and organizations adds to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often lead to manual processes, information silos, and a lack of integration, leading to disparities and inadequacies. In spite of residing in a period of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to provide insights and options to simplify 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 organizations state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more a company spends on international payroll the less of an image they see a lack of visibility likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of international services have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors inadequately interacted hires and terminations in addition to absence 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 worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they depend on the required multiple processes 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 difficulties organization face when they're paying to workers or otherwise that's an excellent question I constantly throw this back and state what is it what does not require to be included right and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 customer's own in-country account so there's complexity wherever you look right eventually constructing a knowledge base is definitely critical however everywhere you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in 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 technology is enabling us to type of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely necessary that payroll and finance teams work better together than ever um I'm always surprised when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to contribute to kind of the level of complexity there's increasingly more benefits being organ or being used by companies throughout the world so once again you're simply aiming 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 huge experience here and I'm sure however have you got any experience in kind of real obstacles or genuine difficult kind of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a couple of years I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we require to develop additional handoffs at the same times that we run in they just make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any business has from an expense perspective from an effect point of view on workers it is definitely crucial 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 have to be done right it has the greatest harmful result on people's wellness and many other elements if individuals aren't paid uh I have actually always been impressed entering into this Market sort of the last five to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only notice when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally as well. For that reason, it is important to make sure that tasks like Wi-Fi International and other vital matters are done properly. Utilizing the very first Global Payments very first payroll payment solution is a great initial step towards supplying a comprehensive payroll service for employees worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and bank accounts needed for international payroll are key factors in achieving organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things don't go as planned. Eventually, we do not do it for the gratitude.
anyhow we know how how crucial a function 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 everyone that's associated with those processes and also so think of sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and kind of shot to get back to everybody so moving on appearance why do business pick to main separate savings account there are businesses out there doing precisely this for particular countries and I've worked in a company or many organizations doing exactly that I can state it doesn't always feel effective and it does develop more work I understand we're not intentionally doing that we're not creating extra work for anybody where we don't have to and anybody 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 believe numerous factors one is it's the requirement I believe people have actually got so used to we require a brand-new bank account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I believe this is a process that requires looking at it requires altering but ultimately individuals are really stuck to what they're familiar
with ideal um modification is a challenging thing we all don't like modification um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having maintaining numerous checking account however there's a huge amount of intricacy chooses establishing a checking account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for private people so the complexity is substantial however I believe the honest response is modification um individuals have not been able to alter or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or two there is a lot to keep an eye on and this technique does posture 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 changed our Business 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 International staff members you deserve a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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