Find out more about Papaya Global Are They A Data Processor ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a protected and dependable technique of making payments to our 10,000 workers worldwide.}
The advanced worldwide payroll management app streamlines my payroll process, conserving me a substantial amount of time each month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Worker Portal
Employees have access to a Worker Website where they can view their pay slips, wage and tax statements and employment documents. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies use competitive advantages packages to global employees regardless of the number of workers in the business. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages providers in every nation, produce regional accounts and have a minimum variety of workers.
The HR abilities supplied by Global HR encompass different functions such as keeping track of trip time, guaranteeing compliance, helping with the process of inviting new staff members and bidding goodbye to departing ones, using a protected online platform for keeping workers' documents, and supplying support for work permit procedures in case your employees require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total employment expenses dispersed per place, overall employment expenses per cycle and much more.
environments around the world I supplied management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business managing and structure external relationships supporting Enterprise customers and solutions as well as serving as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for many influential business in the world we supply payroll payments and workforce management to all employee key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon great evening depending on where you are in the world it's charming to fulfill you and thank you very much 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 particularly dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I've sort of had a range of various roles on the company 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 fine thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join we all 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 already just to hear where everyone is um it's nice to to type of like see where everyone comes from and I really 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 raining here it's really very bleak and I wish I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why companies preserve separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll likewise go over a wrap-up which should leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more common and managing them becomes increasingly more complex Worldwide organizations are seeking to discover Solutions and new ways to simplify procedures specifically from a payroll and cross-border payment viewpoint many organizations preserve separate savings account just for payroll while some have numerous accounts in different nations does it make good sense for business to maintain different savings account sometimes in different nations it does but just for payroll exists a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business enhance the episode complex procedures of
Making sure precise, efficient, and prompt payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to enhance working capital, and discover how streamlining global payroll payments can change them from a troublesome job into a tactical property.
Handling payroll globally is a challenging job due to numerous policies, compliance requirements, data security issues, and banking guidelines. The sheer variety of staff members and companies adds to the complexity, with an approximated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often result in manual processes, data silos, and an absence of integration, resulting in disparities and inadequacies. In spite of residing in a period of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to offer insights and services to simplify and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that gives me sleep deprived nights and quite honestly the more a service invests in international payroll the less of an image they see a lack of exposure likewise reaches payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of global businesses have expressed that they don't 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 data entry mistakes poorly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the information is delivered to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they depend on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're paying to staff members or otherwise that's a good question I constantly toss this back and state what is it what doesn't need to be consisted of right and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 anywhere you look ideal eventually developing a knowledge base is absolutely critical 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 take a look at the type 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 essential and technology is permitting us to sort of progress with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely essential that payroll and finance groups work closer together than ever um I'm always amazed when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high value on well-being and the settlement landscape is ending up being significantly detailed. Organizations are continually introducing brand-new advantages and payment alternatives, which adds to the general intricacy. Large corporations typically divide their payroll and payment processing into different groups, which can lead to inefficiencies and bottlenecks. In my opinion, this doesn't have to hold true. In today's technically sophisticated era, there's no reason for maintaining cumbersome procedures. Payroll, the company's greatest expense, need to be processed properly and on time. Even small hold-ups can adversely impact employees' well-being and have significant effects. Therefore, it's vital to prioritize precise and timely payments.
payroll team get um so I'm unsure anyone on this kind of webinar has actually been informed 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 staff members or not um but ultimately payroll is such an important cycle all of us hear about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done properly so leveraging the very first International Payments very first payroll payment service is a terrific initial step um offering an end-to-end payroll solution for your employees internationally once again I believe is another substantial um process once again aligning and ensuring you have standardization Worldwide procedures all of those things are absolutely key to success success of companies and lowering the variety of tools platforms and bank accounts they require 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 have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I don't think any of us are really doing that for for the thanks
anyhow we understand how how crucial a role 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 associated with those procedures and likewise so picture sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and in fact see what was going on and type of shot to get back to everyone so carrying on look why do companies choose to main separate savings account there are services out there doing precisely this for particular nations and I have actually operated in a business or numerous companies doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not purposely doing that we're not producing extra work for anybody where we don't need to and any person that's handling that process 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 believe many factors one is it's the standard I believe individuals have got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a process that needs looking at it requires changing but ultimately individuals are extremely stuck to what they recognize
with ideal um change is a difficult thing all of us don't like modification um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having maintaining several bank accounts but there's a big quantity of intricacy opts for establishing a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private people so the intricacy is substantial however I think the sincere response is change um individuals have not been able to alter or have not had always the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to change however we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could almost be determined to be the next Century or two there is a lot to keep an eye on and this approach does pose numerous obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is closer, considering your accomplishments.
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