Find out more about Papaya Global Changing Nominal Code ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and trustworthy method of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Staff member Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive advantages plans to worldwide workers no matter the number of staff members in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the requirement to source regional advantages providers in every country, develop regional accounts and have a minimum number of workers.
The HR abilities provided by International HR include numerous functions such as keeping track of vacation time, guaranteeing compliance, facilitating the procedure of inviting brand-new workers and bidding farewell to leaving ones, providing a safe online platform for saving workers' documents, and supplying support for work permit procedures in case your staff members need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall work expenses dispersed per location, overall employment costs per cycle and much more.
environments across the globe I offered management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business handling and structure external relationships supporting Enterprise customers and services along with acting as a consultant for those of you that do not know who papaya Global is papaya is the 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 business worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually kind of had a range of different functions on the supplier side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to sort 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 sunlight is it it's not no it's it's raining here it's extremely very dreary and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya International payroll payments as a tactical possession uh we'll also go over a recap which needs to leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more common and handling them ends up being a growing number of complicated Worldwide companies are aiming to discover Solutions and new ways to streamline processes specifically from a payroll and cross-border payment viewpoint lots of companies keep separate savings account just for payroll while some have multiple accounts in different countries does it make good sense for companies to keep separate bank accounts sometimes in different countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international companies improve the episode complex processes of
Ensuring accurate, effective, and prompt payroll payments is a complex challenge for companies running internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to enhance working capital, and find how streamlining global payroll payments can transform them from a difficult job into a strategic property.
Handling payroll globally is a challenging task due to different regulations, compliance requirements, information security issues, and banking rules. The sheer variety of staff members and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems typically result in manual procedures, information silos, and an absence of combination, causing disparities and inadequacies. In spite of living in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to offer insights and solutions to simplify and optimize global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force information in real time that's another number that offers me sleep deprived nights and rather frankly the more a service invests in worldwide payroll the less of a photo they see a lack of visibility likewise extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the transaction nearly half of international organizations have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors improperly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the information is shipped to the wrong 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 around the world payroll and payments don't run smoothly if they rely on the required multiple processes 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 service face when they're paying to workers or otherwise that's a good question I constantly toss this back and state what is it what does not need to be consisted of ideal and what does
it need to be considered there's differing 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look ideal ultimately constructing a knowledge base is absolutely critical but all over you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort 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 allowing us to kind of move on with that it also too to add to that payroll and finance require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and finance groups work better together than ever um I'm always surprised when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not 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 ultimately 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 however also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the settlement landscape is ending up being significantly complex. Businesses are continually introducing new advantages and payment choices, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly advanced period, there's no justification for keeping cumbersome treatments. Payroll, the business's most significant expense, should be processed correctly and on time. Even small hold-ups can adversely affect staff members' wellness and have significant effects. Therefore, it's important to prioritize accurate and timely payments.
payroll group get um so I'm not sure anyone on this sort 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 workers or not um but ultimately payroll is such a crucial cycle we all find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the very first International Payments very first payroll payment option is an excellent initial step um providing an end-to-end payroll solution for your workers globally once again I believe is another huge um process once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely key to success success of companies and decreasing the number of tools platforms and checking account they need 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 have actually never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand 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 also so think of sorry I'm simply I was simply gon na say picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous 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 but it would certainly be an intriguing task trying to clean all those up for sure oh definitely 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 attempt to look through them and in fact see what was going on and kind of shot to get back to everybody so moving on appearance why do companies choose to primary different checking account there are services out there doing precisely this for particular nations and I have actually worked in an organization or many services doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anybody where we don't need to and any person that's dealing with 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 believe numerous reasons one is it's the standard I think people have actually got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I believe this is a procedure that needs looking at it requires altering but eventually individuals are very stuck with what they're familiar
with ideal um change is a difficult thing all of us don't like change um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having preserving several bank accounts however there's a big amount of intricacy opts for establishing a bank account keeping it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for individual individuals so the complexity is big however I believe the truthful answer is change um people have not been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century or so there is a lot to keep track of and this technique does pose numerous obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this boosted ability, I have actually successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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