Find out more about Papaya Global Change Totals ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically devoted to managing payments. This supplies us with a secure and trusted approach of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and contractors
The Worker Website supplies staff members with the ability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to worldwide staff members regardless of the number of employees in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source regional advantages suppliers in every nation, create regional accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, overall employment costs dispersed per area, total work expenses per cycle and a lot more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business handling and building external relationships supporting Business customers and solutions along with acting as an advisor 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 most prominent companies in the world we supply payroll payments and workforce management to all worker key ins 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 of course thank you good morning good afternoon good evening depending on where you are in the world it's beautiful to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I've kind of had a range of different roles on the provider side and likewise on the supplier side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody originates 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 drizzling here it's extremely very uninspiring and I wish I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies keep different
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is especially useful for global organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of maintaining different savings account for payroll in different countries, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession 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 prompt payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to optimize working capital, and discover how simplifying global payroll payments can transform them from a difficult task into a strategic asset.
Handling payroll globally is a complicated job due to various guidelines, compliance requirements, information security concerns, and banking rules. The sheer variety of workers and businesses adds to the complexity, with an approximated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of combination, causing disparities and ineffectiveness. Despite residing in a period of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to supply insights and services to streamline and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more a business spends on international payroll the less of a photo they see an absence of visibility also encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly 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 errors are because of time reporting poor HCM information information entry mistakes poorly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the information is delivered to the incorrect location the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they rely on the needed numerous processes 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 company face when they're paying to employees or otherwise that's a good question I always throw this back and state what is it what does not require to be included right and what does
it require to be thought of there's differing 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type 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 essential and technology is enabling us to type of move forward with that it also as well to add to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work better together than ever um I'm always amazed when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from computation 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 procedure 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 third parties so with the
The contemporary world places a high worth on well-being and the settlement landscape is ending up being increasingly complex. Services are continually presenting new benefits and payment options, which contributes to the overall complexity. Big corporations often divide their payroll and payment processing into separate teams, which can cause inefficiencies and traffic jams. In my opinion, this does not need to be the case. In today's technically innovative period, there's no justification for maintaining troublesome treatments. Payroll, the company's most significant expense, should be processed correctly and on time. Even small delays can adversely impact workers' wellness and have far-reaching consequences. For that reason, it's crucial to focus on accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle we all become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply 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 things is definitely essential that all of this things is done properly so leveraging the first Global Payments very first payroll payment service is a terrific primary step um offering an end-to-end payroll solution for your workers globally again I believe is another substantial um procedure again aligning and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of services and lowering the number of tools platforms and bank accounts they require 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 had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 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 essential a function it is and that'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 also so think of sorry I'm just I was just gon na state think of 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 discussing numerous thousands potentially Millions think of getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job attempting to clean all those up for sure oh absolutely I can't picture 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 type of try to get back to everybody so carrying on look why do business select to primary separate checking account there are companies out there doing exactly this for particular countries and I've operated in a service or many organizations doing precisely that I can state it does not constantly feel effective and it does create more work I understand we're not intentionally doing that we're not creating extra work for any person where we don't need to and any person that's dealing with 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 quantity that we are I think many reasons one is it's the standard I believe individuals have got so used to we need a brand-new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other ways 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 needs changing however ultimately individuals are really stuck with what they recognize
with best um change is a challenging thing we all don't like change um so I think it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having preserving numerous savings account but there's a huge quantity of complexity goes with establishing a bank account keeping it guaranteeing it can send International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is substantial but I think the truthful response is modification um individuals have not been able to alter or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I believe it is knowledge you know and there is a component of resistance to alter however we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what might practically be determined to be the next Century approximately there is a lot to track and this method does posture several challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I just did you switched our Enterprise 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 Worldwide workers you should have a corner workplace with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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