Find out more about Papaya Global Archive Folder ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and dependable approach of paying to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll procedure, saving me a significant amount of time every month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Employee Website offers workers with the capability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global assists business use competitive advantages plans to worldwide employees regardless of the number of employees in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the need to source local advantages service providers in every country, develop regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total work expenses dispersed per area, total employment costs per cycle and far more.
environments around the world I offered management and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business managing and structure external relationships supporting Business clients and options in addition to functioning as an advisor for those of you that do not know who papaya International is papaya is the very first payroll and payments
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We focus on providing payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's an enjoyment to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment solutions 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 real go at that over the last five or 6 years where I've kind of had a range of various functions on the provider side and likewise on the vendor side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates 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 raining here it's extremely extremely bleak and I wish I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex challenge for businesses running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, discover how business forecast payroll costs to enhance working capital, and find how simplifying international payroll payments can transform them from a difficult job into a tactical possession.
Managing payroll globally is a challenging job due to various policies, compliance requirements, data security concerns, and banking guidelines. The large number of staff members and organizations adds to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently lead to manual procedures, information silos, and an absence of combination, leading to inconsistencies and inefficiencies. In spite of living in an era of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to offer insights and solutions to streamline and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more a company spends on worldwide payroll the less of a photo they see an absence of presence also encompasses payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal almost half of global businesses have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors poorly interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the data is shipped to the incorrect location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they rely on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're making payments to staff members or otherwise that's an excellent concern I always throw this back and say what is it what doesn't need to be consisted of best and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity wherever you look ideal ultimately constructing a knowledge base is absolutely important but everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type 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 basic and technology is allowing us to type of progress with that it also also to add to that payroll and financing require to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely important that payroll and finance groups work more detailed together than ever um I'm constantly amazed when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on wellness and the settlement landscape is becoming increasingly intricate. Businesses are constantly presenting new advantages and payment choices, which adds to the total intricacy. Big corporations typically divide their payroll and payment processing into separate teams, which can result in ineffectiveness and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technologically sophisticated period, there's no validation for maintaining troublesome procedures. Payroll, the company's most significant expense, should be processed properly and on time. Even slight hold-ups can negatively impact workers' well-being and have far-reaching effects. For that reason, it's important to prioritize accurate and prompt payments.
payroll group get um so I'm unsure anyone on this kind of webinar has actually been told 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 workers or not um however ultimately payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment service is a great first step um offering an end-to-end payroll option for your workers globally again I think is another huge um process once again aligning and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of services and decreasing the variety of tools platforms and bank accounts they need for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how important 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 involved in those processes and also so picture sorry I'm just I was simply gon na state envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job trying 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 require days of the week to try to browse them and in fact see what was going on and kind of shot to return to everyone so proceeding appearance why do companies choose to main different bank accounts there are companies out there doing exactly this for specific nations and I have actually worked in an organization or numerous services doing precisely that I can say it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not need 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 lots of factors one is it's the requirement I believe individuals have got so used to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard 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 believe there's a variety I think this is a process that requires taking a look at it needs altering but ultimately people are very stuck to what they recognize
with ideal um modification is a tough thing all of us do not like change um so I think it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having preserving numerous bank accounts but there's a huge amount of complexity goes with setting up a savings account keeping it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is substantial however I think the truthful answer is change um people haven't had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century or two there is a lot to keep track of and this technique does posture numerous challenges um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you are worthy of a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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