Find out more about Papaya Global P32 ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This supplies us with a secure and trustworthy approach of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Worker Website
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax declarations and work files. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive benefits packages to global employees despite the number of staff members in the business. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source regional benefits providers in every country, produce regional accounts and have a minimum number of staff members.
The HR capabilities supplied by Global HR encompass various functions such as monitoring trip time, making sure compliance, helping with the procedure of inviting new workers and bidding goodbye to departing ones, providing a secure online platform for storing employees' documents, and supplying assistance for work allow procedures in case your employees need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall employment costs distributed per place, total work costs per cycle and much more.
environments around the world I offered leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across business handling and building external relationships supporting Business customers and solutions along with acting as a consultant for those of you that do not understand who papaya Worldwide is papaya is the very first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in providing payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a pleasure to fulfill you and thank you for your valuable 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 actually focused on payroll and payment services for the past seven years. The complexities and challenges of this field have constantly captivated me.
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I've sort of had a range of various functions on the company side and likewise on the vendor side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very really bleak and I wish I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why business maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we'll likewise go over a recap which must leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of common and managing them ends up being increasingly more complicated International organizations are aiming to find Solutions and brand-new ways to simplify procedures particularly from a payroll and cross-border payment perspective many companies preserve different savings account just for payroll while some have several accounts in various countries does it make sense for business to keep separate checking account often in various countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business streamline the episode complex procedures of
Guaranteeing accurate, efficient, and timely payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how business forecast payroll costs to enhance working capital, and discover how streamlining worldwide payroll payments can change them from a challenging task into a strategic property.
Handling payroll worldwide is a challenging job due to different regulations, compliance requirements, data security concerns, and banking guidelines. The sheer variety of staff members and businesses adds to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently result in manual procedures, data silos, and a lack of combination, resulting in disparities and inadequacies. In spite of living in an era of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to provide insights and services to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more an organization spends on worldwide payroll the less of an image they see a lack of presence also encompasses 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 businesses have actually revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors poorly interacted hires and terminations as well as absence management and system configurations and then when you round everything off and the data is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they rely on the needed several processes 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 challenges business face when they're making payments to staff members or otherwise that's an excellent question I always toss this back and state what is it what does not require to be included ideal and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities 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 consumer's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is allowing us to kind of move forward with that it also too to contribute to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup processes is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm constantly impressed when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation 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 frequently 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 people any place they are but also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the payment landscape is becoming increasingly elaborate. Services are continuously introducing new advantages and payment choices, which contributes to the total intricacy. Big corporations often divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my viewpoint, this doesn't have to hold true. In today's highly sophisticated era, there's no reason for keeping troublesome treatments. Payroll, the business's most significant expenditure, need to be processed properly and on time. Even minor delays can negatively affect employees' well-being and have significant repercussions. For that reason, it's crucial to focus on accurate and timely payments.
payroll group get um so I'm uncertain anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an important cycle we all hear about it when it goes wrong everybody jumps up and down when it fails but 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 absolutely essential that all of this things is done correctly so leveraging the first Global Payments first payroll payment option is a terrific primary step um supplying an end-to-end payroll solution for your employees globally once again I believe is another substantial um process once again lining up and ensuring you have standardization Global processes all of those things are absolutely essential to success success of services and decreasing the number of tools platforms and checking account they need for their Worldwide 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 ever had a hundred countless 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 problems where things have not gone rather where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know how how essential 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 everybody that's involved in those procedures and likewise so picture sorry I'm simply I was simply gon na state picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions imagine getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing job attempting 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 look through them and in fact see what was going on and sort of shot to return to everybody so carrying on look why do companies choose to primary separate savings account there are companies out there doing exactly this for specific nations and I've worked in a service or many organizations doing precisely that I can say it does not always feel efficient and it does create more work I understand we're not purposely doing that we're not creating additional work for anyone where we don't need to and anyone that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the requirement I believe people have actually got so used to we require a brand-new checking account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a range I believe this is a process that needs taking a look at it requires changing however eventually individuals are extremely stuck to what they recognize
with best um modification is a challenging thing all of us do not like modification um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having maintaining several checking account but there's a huge quantity of complexity goes with establishing a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for specific people so the complexity is substantial however I think the sincere answer is change um people have not been able to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what might nearly be figured out to be the next Century or two there is a lot to monitor and this method does position several difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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