Find out more about Papaya Global Client ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and secure and reputable approach of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app enhances my payroll process, saving me a significant quantity of time each month. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Employee Website
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax statements and work files. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to global staff members regardless of the variety of employees in the company. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every country, create local accounts and have a minimum variety of workers.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall work costs dispersed per area, overall employment expenses per cycle and much more.
environments across the globe I offered management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout the business managing and structure external relationships supporting Business customers and solutions as well as acting as a consultant for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many prominent companies worldwide we provide payroll payments and labor force management to all worker enters over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good evening depending on where you are in the world it's lovely to fulfill 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 market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've type of had a variety of different functions on the service provider side and likewise on the vendor side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everyone another couple of uh well among 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 fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really 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 raining here it's extremely extremely gloomy and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why business keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll likewise review a recap which should leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of common and handling them ends up being more and more complicated International companies are looking to discover Solutions and new methods to improve procedures specifically from a payroll and cross-border payment viewpoint many organizations keep different savings account just for payroll while some have several accounts in different nations does it make good sense for companies to preserve different savings account in some cases in different countries it does however just for payroll exists a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business enhance the episode complex processes of
Guaranteeing accurate, effective, and prompt payroll payments is a complex difficulty for companies running globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, discover how companies anticipate payroll expenses to optimize working capital, and discover how simplifying global payroll payments can change them from a difficult task into a tactical property.
Handling payroll internationally is a challenging task due to different regulations, compliance requirements, information security issues, and banking guidelines. The large variety of staff members and companies adds to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently lead to manual procedures, information silos, and an absence of combination, resulting in disparities and ineffectiveness. In spite of residing in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to provide insights and solutions to streamline and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a company spends on worldwide payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide businesses have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes badly interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the data is shipped to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they count on the essential several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges organization face when they're making payments to workers or otherwise that's an excellent question I constantly throw this back and state what is it what doesn't require to be consisted of right and what does
it need to be thought about 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 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 any place you look right eventually developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble incredibly 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 believe there's now a bit more recognition that payroll payments are absolutely essential and technology is allowing us to kind of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely imperative that payroll and finance groups work more detailed together than ever um I'm always surprised when individuals state I have actually 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 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 eventually it's payroll is an end-to-end procedure 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 3rd parties so with the
The modern-day world places a high value on well-being and the compensation landscape is becoming progressively detailed. Organizations are continuously introducing new benefits and payment choices, which adds to the general intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can cause ineffectiveness and traffic jams. In my opinion, this doesn't have to be the case. In today's highly advanced age, there's no justification for preserving troublesome procedures. Payroll, the business's most significant expenditure, should be processed correctly and on time. Even minor delays can negatively impact employees' wellness and have significant repercussions. Therefore, it's important to prioritize accurate and timely payments.
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just discover when things go wrong. However, when things go right, it's seen as just a regular job. This is how it's viewed externally too. Therefore, it is vital to make sure that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment service is a terrific preliminary step towards offering a detailed payroll solution for staff members worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and checking account needed for international payroll are key consider achieving service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as planned. Eventually, we do not do it for the thankfulness.
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 likewise so think of sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and really see what was going on and type of try to get back to everyone so moving on appearance why do companies pick to primary separate checking account there are companies out there doing precisely this for specific countries and I have actually worked in a business or lots of businesses doing exactly that I can say it does not constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not creating additional work for anyone where we don't have to and anyone that's dealing with that process 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 numerous reasons one is it's the requirement I believe people have got so used to we require a brand-new savings 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 believe it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a range I think this is a procedure that needs taking a look at it needs altering however eventually individuals are extremely stuck to what they recognize
with ideal um change is a challenging thing all of us don't like change um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having preserving numerous savings account however there's a substantial amount of intricacy chooses setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is substantial but I believe the honest answer is change um people haven't had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what might almost be figured out to be the next Century or two there is a lot to track and this method does posture several obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your achievements.
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