Find out more about Papaya Global Calendar 2021 22 ... 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 gotten a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a protected and reputable method of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Worker Portal
Workers have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive advantages plans to global workers no matter the number of workers in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source local advantages service providers in every country, develop local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall employment costs distributed per area, overall employment costs per cycle and a lot more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work across the business managing and building external relationships supporting Enterprise customers and solutions as well as functioning as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for many prominent business on the planet we provide payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon great night depending on where you remain in the world it's lovely to fulfill 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 have actually been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've sort of had a range of various functions on the supplier side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly 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 raining here it's extremely very bleak and I want I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies maintain separate
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is especially useful for global organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of preserving separate savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and prompt payroll payments is a complex difficulty for services operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to enhance working capital, and find how simplifying global payroll payments can change them from a troublesome task into a strategic property.
Managing payroll globally is a challenging task due to numerous policies, compliance requirements, data security issues, and banking guidelines. The large number of employees and organizations adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems often result in manual processes, information silos, and an absence of integration, leading to inconsistencies and ineffectiveness. Regardless of residing in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to supply insights and options to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Labor force data in real time that's another number that gives me sleep deprived nights and rather frankly the more a business spends on international payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide businesses have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors badly communicated hires and terminations along with absence management and system setups and after that when you round everything off and the data is delivered to the incorrect place the average cost of an international information 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 numerous 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 difficulties organization face when they're making payments to employees or otherwise that's an excellent concern I always toss this back and say what is it what does not require to be consisted of right and what does
it require to be thought of there's differing Bank information 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 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 consumer's own in-country account so there's complexity any place you look best ultimately developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a 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 basic and technology is permitting us to sort of move forward with that it also as well to contribute to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely imperative that payroll and finance teams work more detailed together than ever um I'm always amazed when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often 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 wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on well-being and the compensation landscape is becoming progressively detailed. Organizations are continuously introducing brand-new benefits and payment alternatives, which adds to the total complexity. Large corporations typically divide their payroll and payment processing into different groups, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't need to be the case. In today's highly advanced period, there's no justification for preserving cumbersome treatments. Payroll, the business's most significant expenditure, need to be processed correctly and on time. Even slight delays can negatively impact workers' wellness and have far-reaching consequences. Therefore, it's important to prioritize accurate and prompt payments.
payroll team get um so I'm unsure anybody on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees 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 fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this things is done correctly so leveraging the first International Payments first payroll payment solution is a terrific initial step um offering an end-to-end payroll service for your staff members globally again I think is another substantial um procedure once again lining up and ensuring you have standardization International procedures all of those things are absolutely key to success success of organizations and lowering the number of tools platforms and savings account they need for their Global 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 have actually never had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I don't think any of us are in fact doing that for for the thanks
anyhow we understand how how essential a function 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 involved in those processes and likewise so picture sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job trying to clean 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 require days of the week to attempt to look through them and actually see what was going on and sort of try to get back to everybody so moving on appearance why do business pick to primary separate bank accounts there are organizations out there doing exactly this for specific nations and I have actually operated in a company or lots of companies doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating additional work for anybody where we do not need to and anybody that's managing that process 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 lots of reasons one is it's the standard I believe individuals have actually got so used to we need a new bank 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 believe 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 kind of do it so I believe there's a variety I believe this is a process that needs taking a look at it requires altering but ultimately people are really stuck to what they're familiar
with right um change is a hard thing all of us don't like change um so I believe it's simply kind 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 undoubtedly the benefits of having preserving multiple checking account but there's a substantial quantity of intricacy chooses establishing a checking account keeping it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is huge however I think the sincere response is modification um people have not had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could practically be identified to be the next Century or so there is a lot to track and this approach does pose several challenges um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I simply 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 Worldwide staff members you deserve a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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