Find out more about Papaya Global Nominal Link Settings ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and secure and dependable technique of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
Worker Website
Employees have access to an Employee Portal where they can view their pay slips, wage and tax statements and work documents. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to global staff members no matter the number of employees in the company. The company can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source regional advantages providers in every country, create local accounts and have a minimum variety of employees.
The HR capabilities supplied by Worldwide HR incorporate numerous functions such as keeping track of trip time, ensuring compliance, facilitating the procedure of welcoming brand-new staff members and bidding farewell to departing ones, offering a secure online platform for saving workers' documents, and offering support for work allow treatments in case your employees require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, total employment costs dispersed per place, overall employment expenses per cycle and a lot more.
environments around the world I provided leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business managing and structure external relationships supporting Enterprise customers and options as well as functioning as a consultant for those of you that do not understand who papaya Worldwide is papaya is the very first payroll and payments
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a satisfaction to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment options for the past seven years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've kind of had a range of different functions on the company side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone comes from and I really do hope it's much sunnier than it is 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 dreary and I want I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why business preserve different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a tactical asset uh we'll also go over a wrap-up and that should leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on moving 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 International companies are wanting to discover Solutions and brand-new ways to simplify procedures especially from a payroll and cross-border payment perspective many organizations keep different savings account just for payroll while some have several accounts in various countries does it make good sense for companies to maintain different checking account in some cases in various countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting international companies improve the episode complex processes of
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for services operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business forecast payroll costs to enhance working capital, and discover how improving worldwide payroll payments can change them from a challenging task into a tactical asset.
Handling payroll worldwide is a difficult job due to numerous policies, compliance requirements, data security concerns, and banking rules. The large variety of staff members and services contributes to the complexity, with an approximated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems often result in manual procedures, information silos, and a lack of integration, resulting in inconsistencies and inefficiencies. Despite living in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to supply insights and solutions to streamline and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization invests in worldwide payroll the less of an image they see an absence of exposure also reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction nearly half of global services have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors inadequately communicated hires and terminations along with lack management and system configurations and after that when you round all of it off and the information is shipped to the incorrect location the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they depend on the needed several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties company face when they're making payments to staff members or otherwise that's a good question I constantly toss this back and state what is it what doesn't need to be consisted of right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble super payments no if but some children 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 believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is allowing us to type of move forward with that it likewise as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work more detailed together than ever um I'm constantly impressed when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually 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 but also paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on well-being and the settlement landscape is ending up being significantly intricate. Organizations are continually presenting new benefits and payment alternatives, which contributes to the total intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can cause inefficiencies and bottlenecks. In my viewpoint, this does not have to be the case. In today's technologically innovative age, there's no validation for preserving troublesome procedures. Payroll, the business's greatest cost, must be processed properly and on time. Even minor delays can negatively affect workers' well-being and have far-reaching repercussions. For that reason, it's crucial to prioritize precise and timely payments.
payroll team get um so I'm uncertain anybody on this kind of webinar has actually been told 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 staff members or not um however eventually payroll is such an essential cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this things is done properly so leveraging the first Global Payments very first payroll payment solution is a great first step um providing an end-to-end payroll service for your employees globally once again I think is another huge um process again aligning and ensuring you have standardization Worldwide processes all of those things are definitely key to success success of services and reducing the variety of tools platforms and savings account they require for their International payroll too could not agree with you more and on the the front in terms of 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 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyhow we understand how how crucial 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 involved in those procedures and likewise so picture sorry I'm simply I was just gon na state think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job trying 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 kind of try to return to everyone so proceeding appearance why do companies choose to primary different bank accounts there are companies out there doing exactly this for particular nations and I have actually worked in a business or numerous services doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not developing additional work for anyone where we don't have to and anyone 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 amount that we are I think lots of factors one is it's the requirement I think individuals have got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I think this is a process that requires taking a look at it requires changing however ultimately people are very stuck with what they recognize
with best um modification is a hard thing all of us do not like change um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the benefits of having preserving numerous savings account however there's a big quantity of intricacy opts for establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is big however I think the sincere response is change um people have not had the ability to change or haven't had always the understanding to really make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could almost be identified to be the next Century approximately there is a lot to keep track of and this method does pose several obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a range right there is so
I just did you switched 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 workers you deserve a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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