Find out more about Papaya Global Back Pay ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and reliable approach of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app enhances my payroll process, conserving me a significant amount of time every month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
The Employee Portal provides workers with the capability to access and view essential documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists business offer competitive benefits plans to international employees despite the number of staff members in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source regional benefits providers in every country, produce local accounts and have a minimum number of employees.
The HR capabilities offered by International HR encompass various functions such as monitoring getaway time, making sure compliance, facilitating the process of welcoming new employees and bidding goodbye to leaving ones, providing a secure online platform for keeping employees' files, and supplying support for work permit treatments in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall employment expenses distributed per area, 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 countries today I'm the payroll strategies for as Mark stated I work across business handling and building external relationships supporting Business clients and options along with functioning as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential companies on the planet we offer payroll payments and labor force management to all staff member enters over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent night depending on where you are in the world it's charming to fulfill you and thank you quite 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 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of different roles on the service provider side and also on the vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everyone another couple 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 intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates from and I really do hope it's much sunnier than it is 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 very extremely gloomy and I want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business maintain separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is particularly useful for international organizations 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 various countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over 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.
Ensuring precise, effective, and timely payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to enhance working capital, and discover how improving global payroll payments can change them from a challenging job into a strategic possession.
Handling payroll worldwide is a complicated task due to different regulations, compliance requirements, data security concerns, and banking guidelines. The sheer variety of employees and companies adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and a lack of integration, causing inconsistencies and inadequacies. Despite living in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to supply insights and services to simplify and optimize global 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 Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a company spends on global payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of global companies have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors improperly communicated hires and terminations as well as absence management and system setups and then when you round all of it off and the data is shipped to the wrong location the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they count on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles business face when they're making payments to staff members or otherwise that's a great question I constantly throw this back and state what is it what doesn't require to be included best and what does
it require to be thought about there's differing Bank information 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy anywhere you look best ultimately developing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble super payments no if however some infants 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 think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is allowing us to kind of progress with that it likewise also to add to that payroll and finance require to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely important that payroll and finance groups work closer together than ever um I'm always amazed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more important to contribute to type of the level of intricacy there's more and more advantages being organ or being provided by organizations throughout the world so again you're just aiming to add increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine challenges or real challenging sort of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to develop additional handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they do not make them what they need to be in in an era of tech and an era that you know that we are operating in today there is no reason why we are still making this as tough as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any organization has from a cost point of view from an impact point of view on workers it is absolutely important that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest detrimental effect on individuals's wellness and lots of other factors if individuals aren't paid uh I've constantly been astonished coming into this Market sort of the last five to ten years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle all of us become aware of it when it fails everyone 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 important that all of this stuff is done correctly so leveraging the first International Payments very first payroll payment service is a fantastic initial step um offering an end-to-end payroll solution for your workers globally once again I believe is another substantial um procedure again aligning and guaranteeing you have standardization International processes all of those things are definitely key to success success of businesses and reducing the number of tools platforms and savings account they require for their International payroll too couldn't 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 countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I don't think any of us are really doing that for for the thanks
anyhow we understand how how important 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 easy as possible for everyone that's associated with those processes and also so picture sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and sort of shot to return to everybody so carrying on look why do companies choose to main different bank accounts there are companies out there doing exactly this for particular countries and I have actually worked in a company or many organizations doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not producing extra work for any person where we do not have to and anybody that's handling that procedure 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 reasons one is it's the standard I think people have got so utilized to we need a new bank account we open an entity and rightly so you need 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 standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have actually taken a look 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 with what they're familiar
with right um change is a tough thing we all do not like change um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having maintaining numerous savings account but there's a huge quantity of intricacy goes with establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the complexity is huge however I think the honest answer is change um individuals haven't had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I think you've hit the nail on the head I believe it is knowledge you know and there is a component of resistance to change but we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to track and this approach does posture a number of obstacles um so Johnny could you tell us about those difficulties yeah naturally 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 Worldwide employees you are worthy of a corner workplace with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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