Find out more about Papaya Global Calender 2016 17 ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This provides us with a secure and dependable approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Worker Website
Employees have access to a Staff member 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 phone.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to global staff members no matter the variety of employees in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source regional benefits suppliers in every nation, create local accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work costs dispersed per place, total work costs per cycle and far more.
environments around the world I provided management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business handling and building external relationships supporting Business customers and services 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
company to make the time 100 list for the majority of prominent business in the world we provide payroll payments and labor force management to all staff member enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon good evening depending on where you remain in the world it's beautiful to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or six years where I've type of had a variety of different roles on the provider side and likewise on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort 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 originates from and I really do hope it's much sunnier than it remains 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 really very bleak and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies preserve separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical asset uh we'll also discuss a wrap-up which needs to leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of typical and handling them ends up being a growing number of complex Worldwide companies are aiming to find Solutions and new methods to improve processes specifically from a payroll and cross-border payment perspective numerous companies keep separate savings account just for payroll while some have multiple accounts in various nations does it make good sense for business to keep different savings account sometimes in different countries it does but just for payroll is there a better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business improve the episode complex procedures of
Making sure accurate, effective, and timely payroll payments is a complex challenge for services operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how business forecast payroll costs to optimize working capital, and discover how enhancing global payroll payments can transform them from a troublesome task into a tactical property.
Managing payroll internationally is a daunting job due to numerous regulations, compliance requirements, information security concerns, and banking guidelines. The sheer number of employees and services contributes to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems frequently lead to manual procedures, information silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. Despite residing in an era of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to provide insights and solutions to simplify and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more an organization spends on international payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of international companies have 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 because of time reporting bad HCM information data entry mistakes poorly interacted hires and terminations along with lack management and system setups and then when you round it all off and the information is shipped to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they rely on the necessary multiple procedures 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 service face when they're making payments to employees or otherwise that's a good question I always throw this back and say what is it what does not require to be consisted of right and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity any place you look right ultimately developing a knowledge base is definitely vital however everywhere 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 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 enabling us to type of progress with that it likewise too to add to that payroll and financing need to work closer together um with varying Checking account Details varying banking requirements and setup procedures is definitely essential that payroll and financing teams work closer together than ever um I'm constantly surprised when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't 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 typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on wellness and the payment landscape is ending up being progressively detailed. Organizations are continually presenting new benefits and payment choices, which adds to the total complexity. Big corporations often divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technically innovative era, there's no justification for preserving cumbersome procedures. Payroll, the company's most significant cost, must be processed correctly and on time. Even slight hold-ups can adversely affect staff members' well-being and have far-reaching consequences. Therefore, it's vital to prioritize accurate and timely payments.
payroll team get um so I'm uncertain anybody on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle we all become aware of it when it fails everybody 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 consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done properly so leveraging the very first Global Payments first payroll payment service is a terrific primary step um offering an end-to-end payroll service for your staff members internationally again I think is another big um procedure again lining up and ensuring you have standardization Global procedures all of those things are definitely essential to success success of services and lowering the number of tools platforms and checking account they need for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we know how how important 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 imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and in fact see what was going on and kind of try to return to everyone so moving on look why do companies select to main different bank accounts there are businesses out there doing precisely this for specific countries and I've operated in a company or lots of companies doing exactly that I can say it doesn't always feel efficient and it does produce more work I understand we're not purposely doing that we're not developing additional work for anybody where we don't have to and anyone that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the requirement I think people have actually got so used 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 variety of markets where it's not a requirement so I believe it's just 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 actually taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I believe this is a process that requires taking a look at it requires altering however ultimately people are very stuck to what they're familiar
with best um change is a difficult thing all of us do not like change um so I think it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having keeping numerous bank accounts but there's a huge amount of intricacy chooses establishing a bank account preserving it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity is big but I believe the truthful response is change um people haven't had the ability to change or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what could almost be figured out to be the next Century approximately there is a lot to monitor and this technique does present several obstacles um so Johnny could you tell us about those challenges yeah of course so there's a variety right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you deserve a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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