Find out more about Papaya Global Bank Details For Deas ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and trustworthy method of making payments to our 10,000 employees worldwide.}
The cutting-edge global payroll management app simplifies 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 handles my payroll, EOR, and contractors.
Worker Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive benefits plans to global workers no matter the variety of employees in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source regional benefits suppliers in every country, create regional accounts and have a minimum number of staff members.
The HR abilities supplied by International HR incorporate numerous functions such as monitoring trip time, ensuring compliance, helping with the process of welcoming brand-new employees and bidding goodbye to leaving ones, offering a secure online platform for storing workers' files, and offering support for work allow treatments in case your staff members need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall work expenses dispersed per location, total work costs per cycle and a lot more.
environments around the world I provided leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work across business handling and structure external relationships supporting Enterprise customers and solutions as well as functioning as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for many influential companies in the world we supply payroll payments and workforce management to all worker types in over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon excellent evening depending upon where you are in the world it's lovely to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was amazed by the complexity the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I've sort of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already 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 certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very really dreary and I wish I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business keep separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly helpful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of preserving different checking account for payroll in different countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic possession for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, find out how business forecast payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can change them from a difficult task into a tactical asset.
Managing payroll worldwide is a complicated job due to various policies, compliance requirements, data security issues, and banking rules. The large variety of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual processes, data silos, and an absence of integration, resulting in disparities and ineffectiveness. In spite of living in an era of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to offer insights and solutions to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more a business invests in international payroll the less of an image they see an absence of presence likewise reaches payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide companies have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry mistakes poorly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the information is shipped to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they count on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles service face when they're making payments to workers or otherwise that's an excellent concern I constantly throw this back and state what is it what does not require to be included best and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment abilities 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 consumer's own in-country account so there's complexity wherever you look right eventually developing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort 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 essential and technology is permitting us to sort of move forward with that it also also to contribute to that payroll and finance need to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely essential that payroll and financing groups work closer together than ever um I'm always surprised when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more crucial to contribute to kind of the level of complexity there's a growing number of benefits being organ or being used by companies across the world so once again you're simply aiming to add a growing number of payments to this currently intricate landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine challenges or real challenging type of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a number of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding info into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and a period that you know that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any business has from a cost point of view from an impact viewpoint on employees it is definitely important that it's done correctly and on time so what we mean 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 destructive effect on people's wellness and lots of other factors if individuals aren't paid uh I have actually always been amazed entering into this Market kind of the last five to ten years is how little thanks the
payroll group get um so I'm uncertain anyone on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply 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 vital that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment solution is a fantastic first step um providing an end-to-end payroll service for your workers internationally again I think is another substantial um process once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of businesses and lowering the variety of tools platforms and checking account 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 had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyway we know how how crucial 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 everybody that's associated with those processes and likewise so envision sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing 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 check out them and really see what was going on and type of try to return to everyone so moving on appearance why do companies select to main different bank accounts there are organizations out there doing exactly this for particular nations and I've operated in an organization or numerous companies doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra work for anyone where we do not need to and anyone that's managing 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 lots of factors one is it's the standard I believe people have actually got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard the people have embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I think this is a process that requires taking a look at it needs altering however ultimately individuals are very stuck with what they recognize
with ideal um modification is a difficult thing we all do not like modification um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having preserving several savings account but there's a substantial quantity of complexity chooses setting up a savings account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual people so the complexity is substantial but I think the truthful answer is change um individuals haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to change but 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 identified to be the next Century approximately there is a lot to track and this approach does posture several obstacles um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I just did you switched our Business 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 workers you are worthy of a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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