Find out more about Papaya Global And Rapport ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to handling payments. This offers us with a secure and reliable approach of paying to our 10,000 workers worldwide.}
The innovative worldwide payroll management app streamlines my payroll process, conserving me a significant amount of time each month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Worker Website
Employees have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive advantages bundles to global workers regardless of the variety of employees in the company. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source regional advantages suppliers in every country, develop local accounts and have a minimum number of staff members.
The HR abilities supplied by International HR encompass various functions such as monitoring holiday time, guaranteeing compliance, facilitating the procedure of inviting new employees and bidding farewell to departing ones, using a safe online platform for saving employees' files, and providing assistance for work permit treatments in case your staff members require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, overall work costs dispersed per place, overall work expenses per cycle and far more.
environments across the globe I provided management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across business handling and structure external relationships supporting Business customers and solutions along with functioning as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to staff members 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, despite your location. It's a satisfaction to meet you and thank you for your valuable 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 services for the past seven years. The intricacies and challenges of this field have always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I have actually type of had a range of various functions on the supplier side and also on the vendor side from a payroll point of view so actually anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone 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 remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very really uninspiring and I want I was somewhere else 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 difficulty years of handling Global payroll why companies keep different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a strategic property uh we'll likewise discuss a wrap-up which ought to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more typical and managing them ends up being a growing number of complicated Worldwide organizations are looking to find Solutions and new methods to simplify processes particularly from a payroll and cross-border payment standpoint many organizations keep separate checking account just for payroll while some have several accounts in various nations does it make sense for companies to keep separate savings account often in different nations it does however just for payroll is there a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies simplify the episode complex procedures of
Ensuring accurate, efficient, and timely payroll payments is a complex difficulty for services operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business forecast payroll expenses to optimize working capital, and discover how improving global payroll payments can transform them from a challenging task into a tactical property.
Handling payroll worldwide is a complicated job due to various policies, compliance requirements, information security concerns, and banking rules. The large number of employees and services contributes to the complexity, with an estimated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically result in manual processes, data silos, and a lack of integration, resulting in disparities and inadequacies. In spite of living in an era of technological improvements, payroll management has actually 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 global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more a company invests in worldwide payroll the less of an image they see a lack of exposure likewise extends to payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of global organizations have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes inadequately interacted hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is delivered to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run smoothly if they rely on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're making payments to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what does not require to be consisted of ideal and what does
it need to be thought about 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 capabilities 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 customer's own in-country account so there's intricacy wherever you look best ultimately developing a knowledge base is definitely crucial but all over you look with payroll payment they are like incredibly payments no if however 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 acknowledgment that payroll payments are definitely essential and innovation is permitting us to type of move forward with that it likewise too to contribute to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely essential that payroll and finance 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 anybody 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 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 process it's the point of data collection all the way through to paying individuals anywhere they are however also 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 becoming significantly detailed. Services are continually presenting new advantages and payment choices, which adds to the overall intricacy. Large corporations frequently divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn't need to hold true. In today's technologically advanced age, there's no reason for preserving troublesome procedures. Payroll, the company's greatest expenditure, need to be processed correctly and on time. Even minor hold-ups can adversely affect workers' wellness and have far-reaching effects. Therefore, it's important to prioritize accurate and prompt payments.
payroll team get um so I'm unsure anybody on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle we all hear about it when it goes wrong everybody jumps up and down when it goes wrong 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 also like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done correctly so leveraging the first International Payments very first payroll payment option is a fantastic primary step um offering an end-to-end payroll service for your staff members globally again I believe is another substantial um procedure once again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of businesses and decreasing the variety 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've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know how how crucial 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 easy as possible for everyone that's involved in those processes and likewise so envision sorry I'm simply I was just gon na say think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions think of getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and kind of shot to get back to everybody so carrying on look why do companies pick to main different bank accounts there are businesses out there doing precisely this for particular nations and I've worked in a service or many businesses doing exactly that I can state it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not producing extra work for anyone where we don't need to and any person that's dealing with 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 quantity that we are I think many factors one is it's the requirement I think individuals have got so utilized to we require a brand-new checking account we open an entity and appropriately 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 passed by to add to that people have looked at things like trust accounts and lots of other ways um to to sort of do it so I think there's a range I believe this is a process that needs taking a look at it needs altering but ultimately individuals are very stuck with what they recognize
with right um change is a challenging thing all of us do not like change um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having preserving multiple bank accounts but there's a huge amount of intricacy opts for setting up a checking account keeping it guaranteeing it can send International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is big however I think the sincere response is change um people haven't had the ability to alter or have not had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to alter but we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century or so there is a lot to keep track of and this method does present several obstacles um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your achievements.
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