Find out more about Papaya Global Backup File ... 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 acquired a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and dependable technique of making payments to our 10,000 employees worldwide.}
The cutting-edge international payroll management app enhances my payroll procedure, conserving me a significant amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Staff member Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive advantages packages to worldwide employees no matter the variety of employees in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional benefits providers in every nation, produce local accounts and have a minimum variety of workers.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall work costs distributed per location, total work costs per cycle and much more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout business handling and structure external relationships supporting Business clients and options along with functioning as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a satisfaction 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 years of experience in the payments market, I have actually concentrated on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have actually always captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've kind of had a range of various roles on the provider side and also on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating 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 everyone originates from and I truly 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 drizzling here it's very extremely gloomy and I wish I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies maintain separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a tactical property 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 accurate, efficient, and prompt payroll payments is a complex difficulty for services running worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll costs to optimize working capital, and find how improving worldwide payroll payments can transform them from a difficult job into a strategic possession.
Managing payroll internationally is an overwhelming task due to different guidelines, compliance requirements, information security issues, and banking guidelines. The sheer variety of workers and companies contributes to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual procedures, information silos, and a lack of integration, causing disparities and inadequacies. In spite of living in an era of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to provide insights and services to streamline and enhance international 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 provides me sleep deprived nights and quite honestly the more a company invests in international payroll the less of a picture 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 transaction almost half of international organizations have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors poorly 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 average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they depend on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges service face when they're paying to workers or otherwise that's a good question I constantly toss this back and say what is it what does not need to be included right and what does
it require 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look right ultimately constructing a knowledge base is definitely critical however all over you look with payroll payment they resemble very payments no if however some infants 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 recognition that payroll payments are definitely basic and innovation is enabling us to kind of move on with that it also also to add to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is absolutely vital that payroll and finance groups work closer together than ever um I'm always impressed when individuals state 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 profession would they split the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on wellness and the payment landscape is becoming significantly elaborate. Organizations are continuously presenting brand-new benefits and payment alternatives, which contributes to the overall intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and traffic jams. In my opinion, this does not have to be the case. In today's technologically innovative age, there's no justification for maintaining troublesome procedures. Payroll, the business's greatest expense, need to be processed correctly and on time. Even small hold-ups can negatively impact workers' wellness and have significant repercussions. Therefore, it's vital to focus on accurate and prompt payments.
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only observe when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's perceived externally too. Therefore, it is important to guarantee that tasks like Wi-Fi International and other important matters are done correctly. Using the first Worldwide Payments first payroll payment option is an excellent initial step towards providing a comprehensive payroll solution for staff members worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and savings account required for international payroll are crucial factors in attaining company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things do not go as prepared. Eventually, we don't do it for the gratitude.
anyway we know how how essential a role 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 associated with those procedures and also so imagine sorry I'm just I was just gon na say think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and actually see what was going on and type of shot to get back to everybody so proceeding look why do companies pick to main separate bank accounts there are businesses out there doing precisely this for specific nations and I have actually operated in a service or many organizations doing precisely that I can say it does not always feel efficient and it does create more work I understand we're not intentionally doing that we're not creating extra work for anybody where we don't have to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the requirement I think people have got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I think there's a variety I believe this is a procedure that needs looking at it requires altering but ultimately people are very stuck with what they recognize
with ideal um change is a tough thing we all do not like change um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having maintaining multiple checking account however there's a substantial amount of complexity opts for setting up a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for private people so the intricacy is substantial but I believe the truthful answer is change um individuals haven't been able to change or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might almost be identified to be the next Century or so there is a lot to monitor and this approach does position several difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I 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 gotten another CFO, and with this improved ability, I have actually successfully protected payments for our 10,000 workers 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 better, considering your accomplishments.
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