Find out more about Papaya Global Calculate Leaver Pay ... We now have the capability to handle 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 managing payments. This provides us with a secure and reliable method of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Worker Portal provides workers with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in various languages.
Advantages Administration
Papaya Global helps companies use competitive benefits plans to worldwide staff members no matter the variety of staff members in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source regional benefits suppliers in every nation, create local accounts and have a minimum variety of workers.
The HR capabilities offered by International HR encompass various functions such as keeping track of trip time, guaranteeing compliance, facilitating the process of inviting new staff members and bidding goodbye to leaving ones, using a safe online platform for keeping workers' files, and supplying support for work permit procedures in case your workers need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall work costs distributed per location, total employment costs per cycle and much more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark said I work across business handling and building external relationships supporting Enterprise customers and options in addition to functioning as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential business on the planet we provide payroll payments and labor force management to all employee types in over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon great night depending on where you remain in the world it's beautiful to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of various roles on the supplier side and also on the supplier side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing 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 everyone comes 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 very bleak and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why business maintain different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical property uh we'll also review a wrap-up which ought to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more common and handling them ends up being more and more intricate Worldwide organizations are seeking to discover Solutions and brand-new methods to simplify procedures especially from a payroll and cross-border payment viewpoint many companies preserve different bank account just for payroll while some have several accounts in various countries does it make sense for companies to preserve separate savings account often in various countries it does however just for payroll is there a much better way what role do virtual accounts and digital wallets also known as virtual wallets play in helping international companies simplify the episode complex processes of
Ensuring accurate, efficient, and prompt payroll payments is a complex obstacle for organizations running internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, find out how business forecast payroll costs to enhance working capital, and discover how simplifying global payroll payments can change them from a troublesome job into a strategic asset.
Handling payroll globally is a complicated task due to various regulations, compliance requirements, information security issues, and banking rules. The large variety of employees and organizations adds to the complexity, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often lead to manual processes, data silos, and a lack of integration, causing disparities and inadequacies. In spite of residing in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to supply insights and services to simplify and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in international payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the transaction nearly half of global companies have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors badly interacted hires and terminations as well as lack management and system setups and then when you round it all off and the information is delivered to the wrong place the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they rely on the essential several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges business face when they're paying to staff members or otherwise that's an excellent question I constantly throw this back and state what is it what doesn't need to be included right and what does
it need to be considered 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 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 any place you look best ultimately building a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like very payments no if but some infants 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 believe there's now a bit more acknowledgment that payroll payments are definitely basic and technology is permitting us to type of move forward with that it also too to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm constantly astonished when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more essential to add to type of the level of intricacy there's more and more benefits being organ or being offered by organizations throughout the world so again you're simply seeking to add increasingly more payments to this currently complex landscape so if you type of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real difficulties or real challenging kind of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of decades I would certainly say that the bigger 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 groups feeding details into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we need to produce additional handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and an era that you understand that we are operating in today there is no reason we are still making this as challenging as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any company has from an expense perspective from an impact point of view on workers it is definitely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive result on individuals's well-being and many other aspects if people aren't paid uh I've constantly been surprised entering this Market sort of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just see when things fail. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally too. For that reason, it is important to make sure that tasks like Wi-Fi Global and other vital matters are done correctly. Utilizing the first International Payments very first payroll payment solution is a great initial action towards supplying a thorough payroll service for staff members worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and savings account necessary for worldwide payroll are crucial consider attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyway we understand 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 simple as possible for everyone that's associated with those procedures and also so imagine sorry I'm just I was simply gon na say picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions think of getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task trying to clean up 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 need days of the week to attempt to browse them and in fact see what was going on and kind of shot to get back to everyone so carrying on appearance why do business choose to main different bank accounts there are businesses out there doing precisely this for particular countries and I have actually operated in a company or many services doing exactly that I can say it doesn't constantly feel effective and it does produce more work I know we're not deliberately doing that we're not developing additional work for any person where we don't have to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the standard I believe individuals have got so utilized to we require a new bank account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I think this is a process that needs looking at it requires altering however ultimately people are really stuck to what they're familiar
with right um modification is a difficult thing all of us don't like change um so I think it's just kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping multiple bank accounts but there's a big quantity of intricacy goes with establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific people so the intricacy is big however I think the honest answer is change um people have not had the ability to change or have not had necessarily the understanding to truly 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 understanding you know and there is an aspect of resistance to change but we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century or two there is a lot to keep track of and this method does pose numerous challenges um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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