Find out more about Papaya Global Close Paye Scheme ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to handling payments. This offers us with a protected and trusted technique 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 specialists
Staff member Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive benefits packages to international employees no matter the number of workers in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the need to source regional advantages suppliers in every country, produce local accounts and have a minimum variety of employees.
The HR abilities provided by Worldwide HR encompass numerous functions such as keeping track of holiday time, guaranteeing compliance, assisting in the process of welcoming brand-new employees and bidding farewell to departing ones, offering a secure online platform for storing employees' files, and offering assistance for work allow treatments in case your staff members require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, overall employment expenses distributed per place, overall work costs per cycle and much more.
environments across the globe I provided management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and building external relationships supporting Business clients and options in addition to functioning as an advisor for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've sort of had a range of various functions on the company side and also on the supplier side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather interesting 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 comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very really gloomy and I want I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also 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 operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll expenses to optimize working capital, and find how improving global payroll payments can change them from a challenging task into a tactical possession.
Handling payroll globally is a challenging job due to different policies, compliance requirements, data security concerns, and banking guidelines. The large number of staff members and organizations adds to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual processes, data silos, and a lack of combination, resulting in disparities and ineffectiveness. In spite of living in an age of technological improvements, 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 objectives to supply insights and options to simplify and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more a company spends on global payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of international services have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors poorly interacted 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 delivered to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they depend on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're making payments to employees or otherwise that's a good concern I always toss this back and say what is it what does not require to be included best and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities 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 customer's own in-country account so there's intricacy any place you look ideal ultimately constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you 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 sort of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely vital that payroll and finance teams work more detailed together than ever um I'm constantly impressed when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to add to sort of the level of complexity there's more and more advantages being organ or being offered by services across the world so once again you're just seeking to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real difficulties or real difficult sort of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding info into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs while doing sos that we operate in they just make them more timely they make them less effective and they don't make them what they need to be in in an age of tech and an era that you know that we are operating in today there is no reason we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any business has from a cost viewpoint from an effect perspective on employees it is absolutely crucial that it's done correctly and on time so what we imply 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 detrimental impact on people's wellness and numerous other aspects if people aren't paid uh I've always been astonished entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just observe when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally also. For that reason, it is necessary to make sure that tasks like Wi-Fi Worldwide and other essential matters are done properly. Using the very first International Payments very first payroll payment option is a great preliminary step towards offering an extensive payroll option for employees worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account essential for international payroll are essential consider achieving organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as planned. Eventually, we do not do it for the appreciation.
anyway we understand how how important a function 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 procedures and likewise 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 make certain we're talking about hundreds of thousands possibly Millions picture getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task 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 require days of the week to try to browse them and actually see what was going on and type of shot to get back to everybody so proceeding look why do business choose to main different checking account there are companies out there doing exactly this for specific countries and I've worked in a service or numerous companies doing precisely that I can say it does not constantly feel efficient and it does create more work I understand we're not intentionally doing that we're not producing extra work for anybody where we do not have to and any person that's handling 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 factors one is it's the standard I think individuals have actually got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that individuals 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 range I believe this is a procedure that requires looking at it requires changing but ultimately people are very stuck with what they're familiar
with best um modification is a challenging thing we all don't like change um so I think it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having preserving several checking account but there's a big amount of complexity chooses establishing a checking account keeping it ensuring it can send out International transfers ensuring it's established with the best user accesses for individual people so the intricacy is big however I believe the honest answer is change um individuals haven't had the ability to alter or have not had necessarily 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 think it is knowledge you know and there is an aspect of resistance to change but we have actually constantly done it that way is no real excuse 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 so there is a lot to track and this technique does position several challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I just did you switched our Business 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 employees you should have a corner workplace with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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