Find out more about Papaya Global Citrix ... 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 separate Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and reputable technique of making payments to our 10,000 employees worldwide.}
The advanced international payroll management app streamlines my payroll process, saving me a considerable quantity of time monthly. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Staff member Website supplies staff members with the ability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global helps business offer competitive benefits plans to global workers no matter the variety of workers in the business. The company can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source local benefits providers in every nation, develop regional accounts and have a minimum number of employees.
The HR capabilities offered by Global HR encompass different functions such as monitoring trip time, making sure compliance, helping with the process of welcoming brand-new workers and bidding goodbye to departing ones, using a safe online platform for keeping employees' documents, and offering support for work allow procedures in case your workers need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall work costs distributed per location, overall work costs per cycle and far more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business managing and structure external relationships supporting Enterprise clients and solutions in addition to serving as a consultant for those of you that do not understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for many influential business worldwide we supply payroll payments and workforce 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 introduce yourself naturally thank you good morning great afternoon excellent evening depending on where you are in the world it's charming to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've type of had a variety of various functions on the provider side and likewise on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply offer everyone another number of uh well one of 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 already simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really really dreary and I want I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies preserve separate
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly useful for global companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a strategic asset for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex challenge for organizations running worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, find out how companies forecast payroll expenses to enhance working capital, and find how streamlining global payroll payments can transform them from a difficult task into a tactical property.
Handling payroll globally is a complicated task due to different policies, compliance requirements, data security concerns, and banking rules. The sheer variety of employees and services adds to the complexity, with an estimated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems often lead to manual processes, data silos, and an absence of combination, resulting in inconsistencies and inefficiencies. Regardless of living in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to provide insights and services to streamline and optimize 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 offers me sleep deprived nights and rather honestly the more an organization invests in international payroll the less of a photo they see a lack of presence likewise extends to payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the transaction almost half of international organizations have actually 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 because of time reporting bad HCM data information entry mistakes poorly interacted hires and terminations along with absence management and system setups and then when you round it all off and the data is delivered to the wrong location the average cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they depend on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective 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 great question I constantly throw this back and state what is it what doesn't need to be consisted of right 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 country 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 need to pay from the consumer's own in-country account so there's intricacy wherever you look best eventually building a knowledge base is definitely important however everywhere you look with payroll payment they are like very payments no if but 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 recognition that payroll payments are absolutely basic and technology is enabling us to kind of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely important that payroll and finance groups work better together than ever um I'm always amazed when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry 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 people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of crucial to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being used by businesses throughout the world so once again you're simply aiming to include increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine obstacles or genuine tough type of pay uses to play to pay people I think yeah I indicate over the last well yeah a number of decades I would absolutely say 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 task there are groups feeding info into the next function as it were that's really handling the payment side of things however you understand in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we require to develop extra handoffs while doing sos that we run in they just make them more prompt they make them less effective and they do not make them what they need to be in in an era of tech and an age that you understand that we are working in today there is no reason that we are still making this as challenging as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any company has from a cost point of view from an impact point of view on employees it is definitely crucial 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 need to be done right it has the greatest harmful result on individuals's well-being and lots of other factors if individuals aren't paid uh I have actually always been amazed entering this Market kind of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however ultimately payroll is such a crucial cycle we all become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment option is a great first step um providing an end-to-end payroll solution for your staff members worldwide again I believe is another substantial um process once again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely essential to success success of businesses and decreasing the variety of tools platforms and bank accounts they need for their Worldwide payroll too couldn't agree with you more and on the the front in terms of 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 five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I do not think any of us are really 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 simple as possible for everybody that's associated with those procedures and likewise so picture sorry I'm simply I was simply gon na say picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and in fact see what was going on and sort of shot to return to everyone so proceeding appearance why do companies select to primary different checking account there are businesses out there doing precisely this for specific nations and I have actually operated in a business or numerous organizations doing precisely that I can say it does not constantly feel effective and it does create more work I understand we're not deliberately doing that we're not creating additional work for any person where we don't have to and anyone that's handling 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 believe many reasons one is it's the standard I believe individuals have actually got so utilized to we need a brand-new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I think this is a procedure that needs taking a look at it needs changing but eventually people are really stuck with what they recognize
with best um modification is a tough thing all of us don't like change um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having maintaining several savings account but there's a huge amount of complexity goes with establishing a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the best user accesses for private individuals so the intricacy is huge but I think the honest response is modification um people have not been able to alter or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we have actually always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might almost be determined to be the next Century approximately there is a lot to track and this approach does position numerous obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you deserve a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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