Find out more about Papaya Global Nominal Link ... We now have the capability to manage 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 specifically dedicated to handling payments. This supplies us with a safe and secure and trustworthy method of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive advantages plans to international staff members no matter the number of workers in the business. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local advantages service providers in every country, produce local accounts and have a minimum number of staff members.
The HR abilities supplied by Worldwide HR include various functions such as monitoring holiday time, guaranteeing compliance, assisting in the process of inviting brand-new workers and bidding goodbye to leaving ones, offering a safe and secure online platform for storing workers' files, and providing assistance for work permit treatments in case your staff members need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, overall work costs dispersed per area, overall work costs per cycle and far more.
environments around the world I offered leadership and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise customers and services along with serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for most influential business in the world we offer payroll payments and workforce management to all staff member types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon good evening depending on where you are in the world it's lovely 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 been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've sort of had a range of different roles on the service provider side and also on the supplier side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes 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 drizzling here it's really very uninspiring and I want I was somewhere else 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 difficulty years of handling International payroll why business keep separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical asset uh we'll likewise review a recap which needs to leave his time at the really extremely 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 International labor forces become more and more common and managing them ends up being a growing number of complicated Global companies are looking to find Solutions and brand-new ways to simplify processes particularly from a payroll and cross-border payment viewpoint lots of companies maintain different savings account just for payroll while some have multiple accounts in different countries does it make sense for companies to keep different bank accounts in some cases in different nations it does however just for payroll exists a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational business simplify the episode complex procedures of
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for services operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll costs to optimize working capital, and discover how simplifying international payroll payments can transform them from a burdensome task into a tactical possession.
Managing payroll internationally is a complicated task due to various policies, compliance requirements, information security issues, and banking rules. The large variety of staff members and organizations contributes to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of combination, resulting in inconsistencies and ineffectiveness. In spite of residing in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to supply insights and services to simplify and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that gives me sleep deprived nights and rather honestly the more a business spends on international payroll the less of a photo they see an absence of exposure likewise reaches payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of international services have revealed that they don't have the level of standardization they need 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 as well as absence management and system setups and then when you round everything off and the data is shipped to the incorrect location the typical expense 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 don't run efficiently if they depend on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles service face when they're making payments to workers or otherwise that's a great concern I always toss this back and say what is it what does not require to be included right and what does
it need to be considered 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 abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble 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 between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is enabling us to type of move forward with that it likewise also to add to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is definitely important that payroll and finance groups work better 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 anybody what is payroll who does not 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 information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of essential to add to sort of the level of intricacy there's increasingly more benefits being organ or being offered by businesses across the world so again you're just seeking to include increasingly more payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real challenges or real tough kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we run in they simply make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and a period that you know that we are operating in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any organization has from a cost perspective from an effect viewpoint on staff members it is absolutely vital that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging impact on individuals's well-being and numerous other factors if people aren't paid uh I have actually always been impressed coming into this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm uncertain anyone on this kind of webinar has actually been told 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 workers or not um however ultimately payroll is such a crucial cycle all of us find out about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done correctly so leveraging the very first Worldwide Payments very first payroll payment service is a terrific initial step um offering an end-to-end payroll option for your employees worldwide again I think is another huge um process once again aligning and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of companies and minimizing the number of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless 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 haven't gone rather where they're implied to be um I do not believe any of us are actually doing that for for the thanks
anyway we know 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 easy as possible for everyone that's associated with those procedures and likewise so picture sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions envision getting that numerous 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 definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and type of try to get back to everybody so proceeding look why do companies pick to main different bank accounts there are companies out there doing precisely this for particular countries and I have actually worked in a service or many businesses doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not producing extra work for anybody where we do not have to and anybody that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the requirement I think individuals have got so used to we need a new bank account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard the people have actually embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I think this is a process that needs looking at it needs altering however eventually individuals are very stuck with what they're familiar
with right um change is a tough thing we all do not like change um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping numerous checking account but there's a huge amount of intricacy goes with setting up a savings account keeping it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is big but I believe the sincere answer is change um individuals haven't been able to change or have not had always the understanding to really make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century approximately there is a lot to keep track of and this method does posture numerous challenges um so Johnny could you inform us about those difficulties yeah of course so there's a range right there is so
I simply did you switched our Enterprise 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 Worldwide workers you are worthy of a corner office with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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