Find out more about Papaya Global Cd ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a protected and reliable technique of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Employee Portal supplies employees with the capability to access 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 provided in various languages.
Advantages Administration
Papaya Global helps companies provide competitive benefits plans to worldwide employees no matter the variety of staff members in the company. The business can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits service providers in every nation, produce regional accounts and have a minimum number of staff members.
The HR abilities provided by Global HR encompass different functions such as keeping track of trip time, making sure compliance, helping with the process of inviting brand-new employees and bidding farewell to departing ones, providing a safe and secure online platform for storing workers' files, and supplying assistance for work allow procedures in case your employees require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses dispersed per location, overall work expenses per cycle and a lot more.
environments around the world I provided management and strategy 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 across business managing and structure external relationships supporting Business clients and options in addition to functioning as a consultant for those of you that do not understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for most influential companies on the planet we supply payroll payments and workforce management to all worker enters 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 introduce yourself obviously thank you good morning excellent afternoon good night depending upon where you remain in the world it's beautiful to fulfill 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 remained in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually type of had a range of different functions on the supplier side and also on the vendor side from a payroll point of view so really anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely dreary and I wish I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is especially helpful for worldwide companies with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical asset 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.
Guaranteeing accurate, effective, and timely payroll payments is a complex challenge for organizations running globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to enhance working capital, and discover how enhancing international payroll payments can transform them from a difficult job into a strategic asset.
Handling payroll globally is a daunting task due to numerous policies, compliance requirements, information security issues, and banking rules. The sheer variety of staff members and organizations adds to the complexity, with an estimated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently result in manual processes, information silos, and an absence of integration, leading to inconsistencies and ineffectiveness. In spite of living in an era of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to offer insights and options to streamline and optimize worldwide 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 offers me sleep deprived nights and quite honestly the more an organization spends on global payroll the less of a picture they see a lack of visibility likewise extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide services have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors improperly interacted hires and terminations along with lack management and system setups and after that when you round it all off and the information is delivered to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they rely on the needed multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties organization face when they're making payments to staff members or otherwise that's an excellent concern I constantly toss this back and state what is it what doesn't need to be included best and what does
it need to be thought of 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 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 client's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is absolutely vital 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 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 innovation is allowing us to sort of move forward with that it also also to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely vital that payroll and finance groups work more detailed together than ever um I'm constantly amazed when people state 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 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more essential to add to type of the level of intricacy there's a growing number of advantages being organ or being offered by services across the world so once again you're just looking to add a growing number of payments to this already intricate landscape so if you type of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine challenges or genuine tough sort of pay uses to play to pay people I believe yeah I imply over the last well yeah a couple of years I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to develop extra handoffs while doing sos that we run in they simply make them more prompt they make them less efficient and they do not make them what they require 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 tough as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from a cost perspective from an effect viewpoint on employees it is absolutely 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 have to be done right it has the greatest harmful effect on individuals's wellness and numerous other elements if individuals aren't paid uh I've constantly been surprised entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only notice when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's perceived externally also. For that reason, it is essential to make sure that jobs like Wi-Fi Global and other essential matters are done properly. Using the first Global Payments first payroll payment option is a fantastic preliminary step towards offering a comprehensive payroll option for workers worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and bank accounts needed for global payroll are essential factors in achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
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 everyone that's associated with those processes and likewise so think of sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying to clean 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 need days of the week to try to browse them and in fact see what was going on and sort of try to get back to everyone so carrying on look why do companies select to main different savings account there are services out there doing exactly this for specific countries and I've worked in a business or many companies doing precisely that I can state it doesn't constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not creating additional work for any person where we do not need to and anyone 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 reasons one is it's the requirement I think people have actually got so used to we require a new bank account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I think this is a process that needs looking at it requires altering but ultimately individuals are very stuck to what they recognize
with best um change is a tough thing all of us don't like modification 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 comprehend obviously the benefits of having preserving multiple checking account however there's a huge quantity of intricacy chooses setting up a bank account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private 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 necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to change but we've always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this method does pose numerous challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
Papaya Global Aeo