Find out more about Papaya Global Cloud Pricing ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and trusted method of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app streamlines my payroll procedure, saving me a significant amount of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Worker Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax declarations and work files. The website is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to international staff members regardless of the number of workers in the business. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source regional benefits providers in every nation, develop local accounts and have a minimum number of staff members.
The HR capabilities provided by International HR encompass different functions such as keeping track of vacation time, making sure compliance, assisting in the procedure of inviting new workers and bidding farewell to leaving ones, using a safe online platform for keeping employees' files, and providing assistance for work allow procedures in case your staff members require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total employment costs dispersed per area, total employment costs per cycle and much more.
environments around the world I supplied leadership and technique 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 the business handling and structure external relationships supporting Business customers and services along with serving as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I've type of had a variety of various functions on the company side and likewise on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds approximately 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 fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very really gloomy and I want I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a strategic property uh we'll also go over a wrap-up which must leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more common and handling them ends up being a growing number of complicated Worldwide companies are looking to find Solutions and brand-new methods to streamline processes specifically from a payroll and cross-border payment standpoint lots of companies maintain different savings account just for payroll while some have multiple accounts in various nations does it make sense for business to maintain different savings account sometimes in different countries it does but just for payroll is there a much better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business simplify the episode complex procedures of
Ensuring accurate, effective, and prompt payroll payments is a complex obstacle for services operating internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to enhance working capital, and discover how streamlining global payroll payments can transform them from a troublesome task into a tactical asset.
Managing payroll internationally is a daunting task due to different regulations, compliance requirements, data security concerns, and banking guidelines. The sheer variety of staff members and businesses adds to the intricacy, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and a lack of combination, resulting in inconsistencies and inefficiencies. In spite of residing in a period of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to supply insights and solutions to simplify and enhance 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 data in real time that's another number that offers me sleepless nights and quite frankly the more a business invests in global payroll the less of a photo they see an absence of presence likewise extends to payroll payments and failure 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 require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes badly communicated hires and terminations as well as lack management and system setups and after that when you round it all off and the data is delivered to the wrong place the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they depend on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're making payments to employees or otherwise that's a good concern I constantly toss this back and say what is it what does not need to be included ideal and what does
it need to be considered there's differing 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 client's own in-country account so there's complexity any place you look right eventually constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble extremely payments no if however some children 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 essential and innovation 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 differing Savings account Particulars differing banking requirements and setup procedures is absolutely imperative that payroll and financing teams work better together than ever um I'm always impressed when people say I've split payroll and payment um if you walk down the street and asked anybody 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 frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on wellness and the settlement landscape is ending up being increasingly elaborate. Businesses are continuously presenting brand-new benefits and payment options, which contributes to the total complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can cause inefficiencies and traffic jams. In my opinion, this doesn't have to be the case. In today's technologically innovative period, there's no validation for maintaining cumbersome treatments. Payroll, the company's most significant expenditure, should be processed properly and on time. Even minor delays can negatively impact workers' well-being and have far-reaching consequences. For that reason, it's crucial to focus on precise and timely payments.
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just discover when things fail. Nevertheless, when things go right, it's seen as just a regular job. This is how it's viewed externally too. Therefore, it is necessary to guarantee that tasks like Wi-Fi International and other crucial matters are done properly. Utilizing the first Global Payments very first payroll payment service is a fantastic initial step towards providing a detailed payroll service for workers worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and checking account necessary for international payroll are essential factors in achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as planned. Eventually, we do not do it for the appreciation.
anyway we know how how essential 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 everybody that's involved in those processes and also so think of sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and actually see what was going on and type of try to return to everybody so carrying on appearance why do business choose to primary different bank accounts there are companies out there doing exactly this for particular nations and I've operated in an organization or many companies doing precisely that I can state it does not always feel efficient and it does create more work I know we're not deliberately doing that we're not developing extra work for any person where we don't need to and anybody 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 believe lots of factors one is it's the requirement I believe individuals have actually got so used to we need a new savings 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 standard individuals have embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I think this is a process that requires looking at it requires changing however ultimately individuals are extremely stuck with what they're familiar
with right um modification is a tough thing all of us don't like change um so I believe 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 understand certainly the advantages of having maintaining multiple bank accounts but there's a huge amount of intricacy goes with setting up a bank account maintaining it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for specific people so the intricacy is huge however I think the truthful response is modification um individuals have not had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to change but we've constantly done it that way is no genuine excuse for not looking at the the advantages 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 keep an eye on and this approach does present a number of difficulties um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I recently made a change to our Enterprise 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 actually acquired another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your accomplishments.
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