Find out more about Papaya Global Online Support ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a safe and reputable technique of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
Employee Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies offer competitive advantages packages to international staff members despite the variety of employees in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source local advantages service providers in every country, develop local accounts and have a minimum number of staff members.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall employment costs distributed per location, total employment expenses per cycle and far more.
environments around the world I supplied management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise customers and options along with serving as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for most prominent business on the planet we offer payroll payments and workforce management to all employee enters 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 present yourself naturally thank you good morning good afternoon good evening depending on where you are in the world it's beautiful 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 remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I have actually type of had a variety of various roles on the service provider side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing 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 everyone originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really really bleak 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 challenge years of handling Global payroll why companies keep different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how companies forecast payroll costs to enhance working capital, and find how simplifying international payroll payments can transform them from a difficult job into a strategic property.
Handling payroll globally is a difficult task due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer number of staff members and services adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual processes, information silos, and an absence of integration, leading to inconsistencies and inefficiencies. In spite of living in a period of technological improvements, payroll management has actually been slow to adapt, 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 streamline and optimize international payroll payments.
about it to provide you a concept 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 an organization invests in global payroll the less of an image they see an absence of presence likewise extends to payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of worldwide businesses have actually 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 bad HCM data data entry mistakes badly communicated hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is delivered to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they count on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties business face when they're making payments to staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't 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 nation there's payment time frames 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 consumer's own in-country account so there's intricacy wherever you look ideal ultimately developing a knowledge base is definitely vital but all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and innovation is enabling us to type of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely important that payroll and financing teams work better together than ever um I'm always amazed when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more essential to add to kind of the level of complexity there's increasingly more advantages being organ or being used by companies throughout the world so again you're simply seeking to add a growing number of payments to this currently intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine difficulties or genuine challenging type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of years I would definitely state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding info into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we run in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you know that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from an expense point of view from an impact perspective on staff members it is absolutely important 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 damaging effect on people's well-being and lots of other aspects if individuals aren't paid uh I have actually constantly been impressed coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only discover when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally as well. For that reason, it is necessary to ensure that tasks like Wi-Fi Global and other essential matters are done correctly. Using the very first International Payments very first payroll payment option is a fantastic preliminary action towards offering a thorough payroll solution for employees worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and checking account essential for worldwide payroll are essential factors in accomplishing organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few complaints when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we know how how important 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 simple as possible for everyone that's associated with those processes and also so imagine sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions think of getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job attempting to clean up all those up for sure oh definitely 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 browse them and really see what was going on and kind of shot to get back to everyone so moving on appearance why do business choose to main different bank accounts there are companies out there doing precisely this for particular nations and I've worked in a company or lots of organizations doing precisely that I can say it does not always feel effective and it does produce more work I understand we're not deliberately doing that we're not developing additional work for anybody where we do not need to and any person that's handling 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 believe many factors one is it's the standard I believe people have got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I think this is a procedure that requires looking at it needs changing but eventually people are really stuck to what they're familiar
with right um change is a tough thing we all don't like modification um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having keeping multiple savings account but there's a substantial quantity of intricacy goes with establishing a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is substantial however I believe the honest response is modification um people have not been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter 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 carrying on and moving into you know what might practically be identified to be the next Century approximately there is a lot to monitor and this method does posture a number of difficulties um so Johnny might you tell us about those challenges yeah obviously so there's a variety 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 Global workers you deserve a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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