Find out more about Roll Back Papaya Global ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
The innovative global payroll management app improves my payroll procedure, saving me a significant quantity of time each month. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Employee Website
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax declarations and work documents. The website is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive advantages plans to international staff members despite the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source regional advantages service providers in every country, produce local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total employment expenses distributed per place, overall employment expenses per cycle and a lot more.
environments around the world I supplied management 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 handling and structure external relationships supporting Business customers and services as well as functioning as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a pleasure to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment options for the past seven years. The complexities and difficulties of this field have always captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of different functions on the service provider side and also on the supplier side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating 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 very very gloomy and I wish I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a strategic asset uh we'll also discuss a wrap-up which must leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more typical and handling them ends up being increasingly more complicated International organizations are seeking to find Solutions and brand-new ways to streamline processes particularly from a payroll and cross-border payment standpoint many organizations keep separate checking account just for payroll while some have numerous accounts in different countries does it make good sense for business to keep separate checking account often in different nations it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies streamline the episode complex procedures of
Guaranteeing precise, effective, and timely payroll payments is a complex challenge 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 business anticipate payroll expenses to optimize working capital, and find how simplifying worldwide payroll payments can change them from a troublesome task into a strategic possession.
Handling payroll globally is a complicated job due to various guidelines, compliance requirements, information security issues, and banking guidelines. The large variety of employees and companies contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often lead to manual processes, information silos, and a lack of combination, leading to inconsistencies and inadequacies. Despite residing in an age of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to provide insights and options to simplify and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more a business invests in international payroll the less of an image they see a lack of exposure likewise reaches payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide organizations have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors poorly communicated hires and terminations as well as lack management and system setups and after that when you round all of it off and the data is shipped to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they rely on the essential numerous processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges organization face when they're making payments to workers or otherwise that's a great question I constantly throw this back and state what is it what doesn't need to be consisted of right and what does
it need to be thought about there's varying Bank details 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 need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you 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 absolutely fundamental and innovation is allowing us to type of move forward with that it also also to contribute to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm constantly surprised when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on wellness and the payment landscape is becoming increasingly complex. Services are constantly introducing brand-new advantages and payment alternatives, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into different teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this does not need to be the case. In today's highly advanced era, there's no validation for maintaining cumbersome treatments. Payroll, the business's biggest expense, must be processed correctly and on time. Even minor hold-ups can negatively impact staff members' wellness and have far-reaching effects. For that reason, it's vital to prioritize accurate and timely payments.
The payroll group may not have been thanked for properly processing payroll during 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 a crucial cycle, and individuals just discover when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. For that reason, it is essential to guarantee that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the first International Payments very first payroll payment service is a fantastic preliminary action towards supplying an extensive payroll option for employees worldwide. Standardization, global processes, and reducing the number of tools, platforms, and savings account required for global payroll are crucial factors in achieving service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things don't go as planned. Eventually, we don't do it for the appreciation.
anyhow we know how how crucial 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 easy as possible for everybody that's associated with those processes and also so think of sorry I'm just I was just 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 make certain we're speaking about hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job trying to clean 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 need days of the week to attempt to browse them and really see what was going on and type of try to get back to everyone so carrying on appearance why do companies choose to main different bank accounts there are organizations out there doing exactly this for specific nations and I've worked in a company or numerous organizations doing precisely that I can state it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not developing additional work for any person where we do not have to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think numerous factors one is it's the requirement I think individuals have actually got so utilized to we need a new checking account we open an entity and rightly so you need 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 requirement and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a range I think this is a procedure that needs taking a look at it requires altering however eventually people are really stuck to what they're familiar
with right um change is a difficult thing all of us do not like modification um so I think it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having keeping multiple savings account however there's a substantial amount of intricacy goes with setting up a checking account preserving it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for specific individuals so the intricacy is huge however I believe the honest response is change um individuals have not had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might practically be figured out to be the next Century or two there is a lot to keep an eye on and this technique does pose numerous difficulties um so Johnny could you inform us about those challenges yeah obviously so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you are worthy of a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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