Find out more about Papaya Global Copy Company File To Another Pc ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This provides us with a protected and trustworthy approach of making payments to our 10,000 staff members worldwide.}
The innovative international payroll management app enhances my payroll process, saving me a substantial amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Staff member Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and work documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive benefits plans to global staff members regardless of the variety of staff members in the business. The company can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source regional advantages companies in every nation, create regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work costs distributed per area, overall work expenses per cycle and much more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work across the business handling and structure external relationships supporting Business customers and options as well as functioning as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential business on the planet we offer payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we also 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 evening depending upon where you remain in the world it's beautiful to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or six years where I've sort of had a variety of various functions on the company side and likewise on the supplier side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing 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 everybody originates from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's very really uninspiring and I wish I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business keep separate
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is especially helpful for global companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate savings account for payroll in various nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for businesses operating internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to optimize working capital, and discover how improving global payroll payments can transform them from a burdensome task into a tactical property.
Managing payroll worldwide is a difficult job due to various policies, compliance requirements, information security concerns, and banking guidelines. The large number of staff members and businesses adds to the complexity, 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 typically result in manual procedures, data silos, and an absence of combination, leading to inconsistencies and inefficiencies. In spite of residing in an age of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to offer insights and services to simplify and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more a service invests in global payroll the less of a photo they see an absence of presence also extends to payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of international services have revealed 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 due to time reporting bad HCM data data entry mistakes poorly interacted hires and terminations along with lack management and system configurations and after that when you round all of it off and the data is delivered to the wrong location the average cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they rely on the required numerous processes 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 challenges company face when they're paying to staff members or otherwise that's an excellent concern I constantly throw this back and state 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 nation there's payment timespan 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 client's own in-country account so there's intricacy any place you look ideal ultimately constructing a knowledge base is absolutely crucial but all over you look with payroll payment they are like extremely payments no if however some babies 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 definitely fundamental and innovation is enabling us to type of progress with that it also also to add to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm always amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often 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 any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on wellness and the compensation landscape is ending up being progressively complex. Organizations are continually introducing new benefits and payment choices, which contributes to the overall intricacy. Big corporations often divide their payroll and payment processing into different groups, which can lead to ineffectiveness and traffic jams. In my opinion, this does not have to hold true. In today's highly advanced era, there's no validation for preserving cumbersome treatments. Payroll, the company's greatest expenditure, should be processed properly and on time. Even minor hold-ups can adversely impact workers' wellness and have far-reaching repercussions. Therefore, it's crucial to focus on accurate and prompt payments.
payroll team get um so I'm not sure anyone on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done correctly so leveraging the first Global Payments very first payroll payment service is an excellent initial step um providing an end-to-end payroll service for your employees internationally once again I think is another substantial um process again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely essential to success success of companies and decreasing the variety of tools platforms and bank accounts they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyway we understand how how crucial 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 associated with those processes and also so envision sorry I'm just I was just gon na say picture 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 think of getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job trying to clean up 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 attempt to look through them and actually see what was going on and kind of shot to get back to everyone so moving on appearance why do business choose to main separate savings account there are organizations out there doing precisely this for specific countries and I've worked in a business or lots of services doing precisely that I can say it doesn't constantly feel effective and it does produce more work I know we're not intentionally doing that we're not creating additional work for anybody where we don't need to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the standard I think individuals have got so used to we require a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually 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 ways um to to kind of do it so I think there's a range I believe this is a process that requires looking at it requires changing however ultimately people are really stuck to what they're familiar
with right um modification is a hard thing we all don't like modification um so I believe it's just type 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 certainly the advantages of having preserving several bank accounts but there's a huge amount of intricacy goes with establishing a checking account keeping it guaranteeing it can send International transfers ensuring it's established with the right user accesses for private people so the intricacy is big however I believe the truthful response is change um individuals haven't had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change but we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century approximately there is a lot to monitor and this approach does posture a number of obstacles um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this boosted ability, I have successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your accomplishments.
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