Find out more about Papaya Global Clerk Job ... 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 acquired a different Chief Financial Officer particularly committed to handling payments. This supplies us with a secure and reputable technique of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Employee Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax statements and work files. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive benefits plans to worldwide employees despite 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 removing the need to source regional advantages providers in every nation, develop regional accounts and have a minimum variety of workers.
The HR capabilities offered by Worldwide HR include various functions such as monitoring getaway time, ensuring compliance, facilitating the process of inviting new staff members and bidding goodbye to departing ones, offering a secure online platform for keeping employees' documents, and supplying support for work allow treatments in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total employment expenses distributed per location, total employment costs per cycle and much more.
environments across the globe I offered management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and structure external relationships supporting Enterprise clients and solutions as well as acting as a consultant for those of you that do not know who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for a lot of prominent companies worldwide we offer payroll payments and workforce management to all staff member enters over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good night depending upon where you remain 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've been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've type of had a range of various functions on the service provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two 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 interesting and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually do hope it's much sunnier than it is 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 very bleak and I wish I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies maintain different
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping different savings account for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, learn how business forecast payroll costs to optimize working capital, and find how streamlining international payroll payments can change them from a difficult task into a tactical property.
Handling payroll internationally is a challenging task due to numerous guidelines, compliance requirements, data security concerns, and banking rules. The large number of employees and companies adds to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and a lack of combination, resulting in disparities and inefficiencies. Despite living in an age of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to supply insights and solutions to simplify and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a company spends on worldwide payroll the less of an image they see an absence of visibility likewise reaches payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of global organizations have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes improperly interacted hires and terminations along with lack management and system setups and then when you round everything off and the data is delivered to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they depend on the necessary 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 difficulties company face when they're paying to staff members 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 ideal and what does
it require 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 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 consumer's own in-country account so there's intricacy anywhere you look best ultimately constructing a knowledge base is definitely important however everywhere you look with payroll payment they are like very payments no if however some infants 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 believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to kind of move forward with that it likewise also to contribute to that payroll and finance require 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 constantly amazed when people state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on well-being and the payment landscape is becoming increasingly detailed. Organizations are continually introducing new benefits and payment options, which adds to the total intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can cause ineffectiveness and bottlenecks. In my opinion, this doesn't have to be the case. In today's technologically sophisticated age, there's no validation for preserving cumbersome treatments. Payroll, the company's greatest cost, should be processed properly and on time. Even slight delays can adversely affect staff members' well-being and have far-reaching effects. For that reason, it's vital to prioritize accurate and prompt payments.
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just notice when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally as well. Therefore, it is important to make sure that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the very first International Payments very first payroll payment option is a fantastic initial action towards offering a detailed payroll option for workers worldwide. Standardization, global processes, and reducing the number of tools, platforms, and checking account necessary for global payroll are essential consider accomplishing business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyway we know how how crucial a role 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 simple as possible for everyone that's associated with those procedures and also so think of sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job trying 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 require days of the week to try to browse them and in fact see what was going on and type of try to return to everyone so carrying on look why do business choose to primary different bank accounts there are companies out there doing exactly this for particular countries and I have actually worked in an organization or many companies doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not producing extra work for anybody where we don't need to and anybody that's dealing with that procedure 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 think many factors one is it's the requirement I think people have actually got so used to we require a brand-new checking account we open an entity and appropriately so you require 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 requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I believe this is a process that needs looking at it requires altering but ultimately people are really stuck with what they're familiar
with best um modification is a tough thing we all do not like modification um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having maintaining several savings account but there's a huge amount of complexity chooses setting up a checking account maintaining it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is huge however I believe the sincere answer is change um individuals have not had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to change however we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might nearly be determined to be the next Century or so there is a lot to monitor and this technique does position numerous challenges um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I simply did you changed 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 International staff members you should have a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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