Find out more about Papaya Global Bank Payments ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a secure and trusted technique of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app streamlines my payroll procedure, saving me a considerable amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Employee Website
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to worldwide workers regardless of the variety of workers in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local benefits service providers in every country, produce regional accounts and have a minimum variety of employees.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall work expenses dispersed per location, overall employment costs per cycle and much more.
environments across the globe I provided management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business handling and building external relationships supporting Enterprise customers and services along with serving as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
As a global business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's an enjoyment to fulfill 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 industry, I have focused on payroll and payment services for the past seven years. The complexities and obstacles of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've kind of had a variety of various functions on the service provider side and also on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everybody another number 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 rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually 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 very very dreary and I want 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 taking a look at the difficulty years of handling Global payroll why business preserve different
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex difficulty for companies operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to optimize working capital, and find how enhancing global payroll payments can transform them from a troublesome job into a tactical asset.
Handling payroll internationally is a difficult job due to different guidelines, compliance requirements, data security concerns, and banking rules. The large variety of workers and companies contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. In spite of living in an age of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to supply insights and solutions to simplify and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more a business invests in global payroll the less of a picture they see an absence of visibility also extends to payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the transaction almost half of worldwide companies have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors improperly communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the information is delivered to the incorrect place the typical expense of a global 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 don't run efficiently if they rely on the needed several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're making payments to employees or otherwise that's a great question I constantly throw this back and state what is it what does not require to be consisted of right and what does
it need 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 amount of time 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 customer's own in-country account so there's complexity anywhere you look best ultimately building a knowledge base is absolutely crucial however all over you look with payroll payment they are like extremely 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 recognition that payroll payments are absolutely basic and technology is allowing us to type of progress with that it likewise too to contribute to that payroll and finance require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance groups work more detailed together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anyone 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 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 people anywhere they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on wellness and the payment landscape is becoming progressively elaborate. Companies are continually presenting new advantages and payment options, which contributes to the overall intricacy. Big corporations often divide their payroll and payment processing into different groups, which can cause inefficiencies and traffic jams. In my opinion, this does not need to hold true. In today's technically innovative period, there's no justification for preserving cumbersome treatments. Payroll, the company's greatest expenditure, should be processed correctly and on time. Even minor hold-ups can negatively affect workers' wellness and have significant effects. Therefore, it's important to focus on accurate and timely payments.
payroll group get um so I'm unsure anyone on this kind of webinar has actually 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 workers 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 fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this stuff is done properly so leveraging the first International Payments very first payroll payment option is an excellent first step um offering an end-to-end payroll service for your workers internationally once again I believe is another big um process once again lining up and guaranteeing you have standardization International procedures all of those things are absolutely crucial to success success of businesses and minimizing the variety of tools platforms and checking account they require for their Worldwide 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've never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone rather where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand 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 everybody that's associated with those processes and also so imagine sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task 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 browse them and actually see what was going on and type of shot to return to everyone so proceeding look why do companies choose to primary different bank accounts there are businesses out there doing precisely this for particular nations and I've operated in an organization or lots of companies doing exactly that I can state it doesn't always feel efficient and it does create more work I understand we're not purposely doing that we're not creating extra work for any person where we do not have to and anybody that's managing 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 amount that we are I believe numerous factors one is it's the standard I think people have actually got so utilized to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually embraced and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I believe this is a procedure that needs taking a look at it needs altering but eventually individuals are extremely stuck to what they're familiar
with ideal um modification is a hard thing all of us don't like modification um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having maintaining numerous checking account however there's a substantial quantity of complexity goes with establishing a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual people so the complexity is big however I think the honest answer is change um individuals have not been able to alter or haven't had always the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century or so there is a lot to monitor and this technique does present a number of challenges um so Johnny could you tell us about those difficulties yeah naturally 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 International staff members you are worthy of a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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