Find out more about Papaya Global Closing ... We now have the capability to handle both our payroll and payments processes on one unified 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 protected and dependable method of paying to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, conserving me a significant amount of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Staff member Portal supplies staff members with the ability to gain access to and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages bundles to international employees no matter the number of staff members in the business. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source regional advantages service providers in every nation, produce regional accounts and have a minimum variety of staff members.
The HR capabilities offered by Global HR include numerous functions such as monitoring vacation time, making sure compliance, assisting in the process of welcoming new employees and bidding goodbye to leaving ones, offering a safe online platform for storing employees' files, and supplying support for work permit procedures in case your workers require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, total work costs dispersed per location, overall employment expenses per cycle and much more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business managing and structure external relationships supporting Business clients and solutions as well as functioning as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for a lot of prominent business in the world we offer payroll payments and workforce management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon excellent night depending upon where you are 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 ten years and particularly working on the payroll and payment sector for over seven years um I was interested by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of different roles on the supplier side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite 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 truly 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 drizzling 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 obstacle years of handling Global payroll why business keep different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially useful for worldwide companies with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of preserving separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and prompt payroll payments is a complex obstacle for businesses running worldwide. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll costs to enhance working capital, and find how improving worldwide payroll payments can change them from a burdensome task into a strategic possession.
Managing payroll internationally is a challenging task due to numerous guidelines, compliance requirements, information security concerns, and banking rules. The large variety of staff members and companies adds to the intricacy, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual processes, data silos, and an absence of integration, causing disparities and ineffectiveness. In spite of residing in an era of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to offer insights and solutions to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force information in real time that's another number that offers me sleepless nights and quite honestly the more an organization spends on worldwide payroll the less of an image they see a lack of visibility likewise reaches payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide organizations have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry mistakes poorly communicated hires and terminations along with absence management and system setups and then when you round all of it off and the information is delivered to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they rely on the required numerous 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 company face when they're making payments to workers or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't need to be consisted of best 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 nation there's payment time frames there's payment capabilities 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 consumer's own in-country account so there's intricacy any place you look best ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is allowing us to type of progress with that it likewise too to add to that payroll and finance require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing teams work closer together than ever um I'm always amazed when individuals state I've divided 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 estimation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the payment landscape is becoming increasingly intricate. Businesses are continuously introducing brand-new benefits and payment choices, which adds to the overall complexity. Big corporations often divide their payroll and payment processing into separate groups, which can result in ineffectiveness and traffic jams. In my viewpoint, this does not have to be the case. In today's technologically innovative era, there's no validation for preserving cumbersome procedures. Payroll, the company's biggest cost, must be processed properly and on time. Even small delays can adversely impact employees' well-being and have significant effects. For that reason, it's vital to prioritize precise and prompt payments.
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only see when things go wrong. However, when things go right, it's seen as simply a routine task. This is how it's viewed externally also. For that reason, it is important to make sure that tasks like Wi-Fi Worldwide and other important matters are done correctly. Using the very first International Payments first payroll payment option is a great preliminary step towards providing a comprehensive payroll solution for employees worldwide. Standardization, global processes, and decreasing the number of tools, platforms, and savings account essential for international payroll are key consider achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things don't go as prepared. Ultimately, we do not do it for the gratitude.
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 everybody that's associated with those procedures and also so envision sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions picture getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and really see what was going on and sort of shot to get back to everybody so proceeding look why do companies choose to primary different bank accounts there are services out there doing precisely this for specific nations and I've worked in a service or numerous companies doing precisely that I can say it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not creating additional work for anybody where we do not need to and anyone 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 quantity that we are I think many reasons one is it's the standard I think individuals have actually got so used to we need a new checking account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have adopted and continue to do over years and years gone past to contribute to that people have 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 think this is a procedure that requires looking at it requires altering however ultimately individuals are really stuck with what they're familiar
with ideal um change is a difficult thing all of us don't like modification um so I think it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having keeping multiple bank accounts but there's a big amount of complexity goes with establishing a bank account preserving it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is big but I believe the honest response is modification um people have not been able to alter or have not had always the understanding to really make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what might almost be identified to be the next Century or so there is a lot to track and this method does posture several difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I just did you changed 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 Worldwide staff members you deserve a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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