Find out more about Papaya Global Change Process Date ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to handling payments. This supplies us with a secure and trustworthy technique of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Workers have access to a Worker Website where they can view their pay slips, wage and tax declarations and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to worldwide staff members no matter the number of employees in the company. The company can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source regional benefits providers in every nation, produce local accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total work costs distributed per location, overall employment expenses per cycle and far more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout the business handling and structure external relationships supporting Business customers and services as well as serving as a consultant for those of you that do not know who papaya International is papaya is the very first payroll and payments
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a pleasure to meet 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 decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I've sort of had a range of different roles on the service provider side and also on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days 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 type of like see where everyone comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very uninspiring and I wish I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business maintain different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets provide a more structured 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 asset for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll costs to enhance working capital, and find how improving worldwide payroll payments can change them from a difficult job into a strategic possession.
Handling payroll worldwide is a difficult task due to various guidelines, compliance requirements, data security concerns, and banking rules. The sheer variety of workers and organizations contributes to the intricacy, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional 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 advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar aims to supply insights and solutions to streamline and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a company spends on global payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide organizations have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes inadequately interacted hires and terminations in addition to absence management and system setups and then when you round it all off and the information is shipped to the incorrect place 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 globe payroll and payments do not run smoothly if they rely on the necessary multiple 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 obstacles service face when they're paying to employees or otherwise that's a great question I constantly toss this back and state what is it what does not require to be consisted of best and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames 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 intricacy wherever you look ideal eventually developing a knowledge base is absolutely vital but all over you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and technology is permitting us to kind of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work better together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually 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 but also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the compensation landscape is becoming progressively detailed. Businesses are continually introducing brand-new advantages and payment alternatives, which adds to the total intricacy. Big corporations often divide their payroll and payment processing into different groups, which can result in inadequacies and bottlenecks. In my opinion, this doesn't have to hold true. In today's technically advanced period, there's no reason for maintaining cumbersome procedures. Payroll, the business's greatest expense, need to be processed correctly and on time. Even slight delays can negatively affect employees' wellness and have far-reaching effects. Therefore, it's critical to focus on precise and timely payments.
payroll group get um so I'm unsure anyone on this type of webinar has actually 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 workers or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box workout 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 important that all of this things is done properly so leveraging the first Global Payments very first payroll payment service is a fantastic initial step um offering an end-to-end payroll service for your staff members globally again I believe is another big um procedure again lining up and ensuring you have standardization Worldwide processes all of those things are definitely crucial to success success of organizations and minimizing the number of tools platforms and savings account they require for their International 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've never 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 grievances where things haven't 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 know how how important 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 simple as possible for everyone that's involved in those processes and also so envision sorry I'm just I was just gon na say picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions imagine 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 absolutely be an intriguing task 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 was the case um you 'd require days of the week to try to look through them and actually see what was going on and sort of shot to return to everybody so proceeding look why do companies choose to primary different savings account there are organizations out there doing exactly this for particular countries and I've operated in an organization or numerous organizations doing precisely that I can say it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not developing extra work for any person where we do not have to and any person that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think many factors one is it's the requirement I think people have got so utilized to we require a new checking account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I think this is a process that requires looking at it requires altering however ultimately people are really stuck to what they're familiar
with right um change is a tough thing we all do not like modification um so I think it's just kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having preserving several savings account 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 right user accesses for individual individuals so the complexity is substantial but I believe the truthful answer is change um individuals have not been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we've constantly done it that way is no real reason for not taking a look 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 approximately there is a lot to keep track of and this approach does position a number of obstacles um so Johnny might you tell us about those difficulties yeah obviously so there's a variety 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 Global workers you should have a corner workplace with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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