Find out more about Papaya Global Support Email Address ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and reliable method of paying to our 10,000 employees worldwide.}
The advanced worldwide payroll management app improves my payroll procedure, conserving me a significant quantity of time each month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
The Worker Website supplies workers with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global helps companies use competitive advantages packages to global employees despite the number of employees in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source local benefits suppliers in every country, create regional accounts and have a minimum variety of employees.
The HR capabilities offered by Global HR encompass different functions such as keeping track of vacation time, guaranteeing compliance, assisting in the procedure of welcoming new workers and bidding goodbye to leaving ones, providing a safe online platform for storing employees' files, and providing assistance for work permit procedures in case your employees 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, total work costs dispersed per area, total employment expenses per cycle and much more.
environments around the world I provided leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise clients and services in addition to acting as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for the majority of prominent business worldwide we provide payroll payments and workforce management to all worker 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 of course thank you good morning excellent afternoon great evening depending on where you are in the world it's charming to satisfy you and thank you quite 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 ten years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually type of had a range of different functions on the supplier side and likewise on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really really uninspiring and I wish I was elsewhere at this moment in time okay so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why business maintain separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of preserving different savings account for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and prompt payroll payments is a complex obstacle for businesses running internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies forecast payroll costs to optimize working capital, and discover how streamlining worldwide payroll payments can transform them from a challenging task into a strategic asset.
Managing payroll globally is an overwhelming task due to numerous regulations, compliance requirements, data security concerns, and banking guidelines. The large variety of employees and companies contributes to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically result in manual procedures, data silos, and an absence of combination, causing inconsistencies and ineffectiveness. Despite residing in an era of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to provide insights and services to streamline and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that offers me sleepless nights and rather honestly the more an organization invests in worldwide payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal nearly half of global companies have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors inadequately communicated hires and terminations as well as lack management and system setups and then when you round everything off and the data is delivered to the wrong location the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they count on the necessary several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business face when they're paying to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what does not need to be consisted of best and what does
it require 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 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 client's own in-country account so there's intricacy anywhere you look ideal eventually building a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to kind of move on with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is absolutely vital that payroll and financing groups work closer together than ever um I'm constantly impressed when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work 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 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 third parties so with the
world we live in and well-being being increasingly more essential to contribute to sort of the level of intricacy there's more and more benefits being organ or being offered by businesses across the world so once again you're just wanting to include increasingly more payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real challenges or real challenging sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding info into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and an age that you know that we are operating in today there is no reason that we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any service has from an expense viewpoint from an impact perspective on employees it is definitely vital that it's done properly and on time so what we mean 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 result on individuals's wellness and many other elements if individuals aren't paid uh I've always been amazed entering into this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just notice when things fail. However, when things go right, it's seen as just a routine task. This is how it's perceived externally also. Therefore, it is vital to make sure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Using the first International Payments very first payroll payment option is an excellent preliminary step towards supplying a comprehensive payroll service for employees worldwide. Standardization, international processes, and lowering the variety of tools, platforms, and bank accounts essential for worldwide payroll are crucial consider achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyway we know how how important 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 everyone that's involved in those processes and also so envision sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but 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 held true um you 'd need days of the week to try to look through them and really see what was going on and sort of try to get back to everybody so proceeding look why do companies pick to primary different checking account there are organizations out there doing precisely this for particular nations and I've operated in a service or many services doing exactly that I can say it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not producing additional work for any person where we don't need to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many factors one is it's the requirement I think individuals have actually got so used to we require a new checking account we open an entity and rightly 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 simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I believe this is a process that requires taking a look at it needs altering however eventually people are really stuck with what they're familiar
with right um change is a challenging thing we all don't like modification um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having keeping numerous bank accounts but there's a big amount of complexity opts for setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for specific individuals so the intricacy is substantial but I think the sincere response is change um people have not had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century or so there is a lot to track and this method does present a number of obstacles um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you deserve a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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