Find out more about Papaya Global Avast ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to handling payments. This offers us with a protected and trusted method of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll process, saving me a substantial amount of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Staff member Website offers employees with the ability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global helps business provide competitive benefits bundles to international employees despite the number of staff members in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source local benefits service providers in every country, develop regional accounts and have a minimum number of workers.
The HR abilities provided by International HR incorporate various functions such as monitoring holiday time, guaranteeing compliance, assisting in the process of welcoming brand-new staff members and bidding farewell to departing ones, providing a protected online platform for saving employees' files, and supplying support for work allow procedures in case your employees need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, overall work expenses distributed per place, overall work expenses per cycle and far more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across the business managing and structure external relationships supporting Enterprise customers and options along with acting as a consultant for those of you that don't know who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have actually constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I have actually sort of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really very dreary and I wish I was somewhere else at this moment in time alright 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 preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Global payroll payments as a tactical possession uh we'll also discuss a wrap-up which must leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more typical and managing them becomes increasingly more complex Global companies are aiming to find Solutions and brand-new ways to improve processes particularly from a payroll and cross-border payment viewpoint numerous organizations maintain separate checking account just for payroll while some have several accounts in various nations does it make good sense for companies to keep separate checking account sometimes in different countries it does but just for payroll exists a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business simplify the episode complex processes of
Ensuring accurate, efficient, and prompt payroll payments is a complex difficulty for companies operating internationally. 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 international payroll payments can transform them from a burdensome task into a strategic asset.
Handling payroll globally is a complicated job due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The sheer variety of workers and organizations adds to the complexity, with an estimated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems often result in manual procedures, information silos, and an absence of combination, leading to inconsistencies and inadequacies. In spite of living in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to provide insights and services to simplify and optimize international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force data in real time that's another number that provides me sleepless nights and rather honestly the more a service invests in global payroll the less of an image they see a lack of presence likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of international companies have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes improperly communicated hires and terminations along with absence management and system setups and then when you round it all off and the information is delivered to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they count on the required multiple processes 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 obstacles business face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and say what is it what does not require to be included ideal 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 time frames there's payment capabilities 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 intricacy wherever you look ideal ultimately constructing a knowledge base is absolutely vital but all over you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is allowing us to kind of progress with that it also as well to add to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup processes is absolutely important that payroll and financing teams work closer together than ever um I'm constantly surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often 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 any place they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on wellness and the compensation landscape is ending up being increasingly elaborate. Services are constantly presenting new benefits and payment choices, which contributes to the overall complexity. Large corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't need to be the case. In today's highly innovative period, there's no justification for preserving troublesome treatments. Payroll, the business's greatest expenditure, should be processed properly and on time. Even slight hold-ups can adversely impact workers' well-being and have significant consequences. Therefore, it's vital to prioritize precise and timely payments.
payroll team get um so I'm not sure anybody on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box exercise 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 things is definitely vital that all of this stuff is done correctly so leveraging the first International Payments first payroll payment option is a terrific first step um supplying an end-to-end payroll solution for your workers internationally once again I think is another big um process once again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely key to success success of organizations and lowering the variety of tools platforms and bank accounts they require for their Worldwide payroll too couldn't 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 thousand of 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 problems where things have not gone quite where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyway we understand how how essential 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 everyone that's associated with those procedures and also so picture sorry I'm just I was simply gon na say envision 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 discussing hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job attempting 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 attempt to browse them and really see what was going on and sort of shot to get back to everyone so moving on appearance why do companies select to main separate bank accounts there are companies out there doing exactly this for particular countries and I have actually worked in a company or numerous businesses doing precisely that I can state it does not constantly feel efficient 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 any person 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 many reasons 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 require it for payroll functions but 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 embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I think this is a procedure that needs looking at it requires changing however eventually people are really stuck with what they recognize
with best um modification is a difficult thing all of us don't like change um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having keeping several savings account however there's a huge amount of complexity opts for establishing a checking account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the complexity is substantial however I believe the honest response is modification um individuals haven't been able to change or have not had always the understanding to actually make that change into alternate Solutions other than opening a checking account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter but we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century or so there is a lot to keep track of and this method does posture numerous difficulties um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I simply did you changed our Enterprise 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 should have a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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