Find out more about Papaya Global Rti ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and dependable technique of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, conserving me a significant amount of time each month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Staff member Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment documents. The website is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive advantages bundles to international staff members regardless of the variety of workers in the business. The company can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source regional benefits companies in every nation, produce local accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total work costs distributed per area, overall employment costs per cycle and a lot more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business managing and building external relationships supporting Business customers and solutions along with serving as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to fulfill you and thank you for your important time. As Ian discussed, 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 intricacies and difficulties of this field have constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I have actually sort of had a variety of different roles on the service provider side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is 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 very very uninspiring and I wish I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll likewise review a wrap-up which ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more typical and managing them becomes increasingly more intricate Global companies are wanting to discover Solutions and new methods to simplify processes specifically from a payroll and cross-border payment perspective lots of companies maintain different savings account just for payroll while some have multiple accounts in different countries does it make good sense for business to keep different bank accounts sometimes in different nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international companies improve the episode complex procedures of
Ensuring precise, effective, and timely payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, learn how companies anticipate payroll expenses to optimize working capital, and find how enhancing international payroll payments can transform them from a challenging job into a tactical possession.
Managing payroll internationally is a challenging task due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The sheer number of employees and organizations adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 countless whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual procedures, information silos, and an absence of integration, causing inconsistencies and ineffectiveness. In spite of residing in an age of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to supply insights and options to streamline and optimize global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization spends on international payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of global organizations have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors inadequately communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the data is shipped to the incorrect place the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they count on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges service face when they're making payments to workers or otherwise that's an excellent question I always toss this back and state what is it what doesn't require to be consisted of ideal and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 have to pay from the consumer's own in-country account so there's complexity wherever you look ideal eventually building a knowledge base is absolutely crucial but 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 take a look at the kind 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 technology is permitting us to kind of move on with that it also as well to add to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is absolutely important that payroll and financing groups work better together than ever um I'm always surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on wellness and the compensation landscape is ending up being significantly detailed. Services are continuously introducing new advantages and payment choices, which adds to the total intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't have to be the case. In today's technologically advanced age, there's no justification for maintaining troublesome treatments. Payroll, the business's greatest expenditure, must be processed properly and on time. Even minor hold-ups can negatively affect staff members' wellness and have far-reaching repercussions. For that reason, it's critical to prioritize precise and prompt payments.
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's viewed externally as well. For that reason, it is essential to make sure that tasks like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the first Global Payments very first payroll payment solution is an excellent initial action towards offering a detailed payroll option for employees worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and bank accounts required for global payroll are key consider achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as planned. Ultimately, we don't do it for the appreciation.
anyhow we understand how how essential 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 simple as possible for everybody that's involved in those procedures and likewise so imagine sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that many thank you notes um I indicate 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 think of 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 kind of shot to get back to everyone so proceeding look why do business select to primary different checking account there are companies out there doing precisely this for specific nations and I have actually worked in a company or lots of businesses doing precisely that I can say it does not constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not producing extra work for anyone where we do not have to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many factors one is it's the standard I believe people have actually got so utilized to we need a brand-new savings account we open an entity and rightly 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 simply been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and many 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 needs altering but ultimately individuals are really stuck to what they recognize
with best um modification is a difficult thing we all don't like modification um so I think it's simply 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 understand undoubtedly the advantages of having maintaining numerous checking account however there's a huge amount of complexity goes with establishing a checking account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity is big but I believe the truthful response is modification um people have not been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I think it is understanding you know and there is a component of resistance to alter but we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to keep track of and this method does present numerous challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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