Find out more about Papaya Global Course Belfast March 2019 ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to handling payments. This offers us with a safe and secure and trusted approach of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app improves my payroll process, conserving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Staff member Website
Employees have access to a Worker Website where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to international staff members regardless of the variety of employees in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source regional benefits companies in every country, produce local accounts and have a minimum variety of staff members.
The HR capabilities offered by Worldwide HR encompass different functions such as keeping an eye on vacation time, ensuring compliance, facilitating the procedure of inviting brand-new employees and bidding farewell to departing ones, providing a safe and secure online platform for keeping employees' files, and supplying support for work permit procedures in case your workers require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total work expenses dispersed per area, total employment expenses per cycle and much more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work throughout the business handling and building external relationships supporting Enterprise clients and services in addition to serving as a consultant for those of you that do not know who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for the majority of prominent companies in the world we supply payroll payments and labor force management to all worker enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon great night depending upon where you remain in the world it's lovely to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of different functions on the supplier side and likewise on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting 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 originates from and I actually 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 extremely really gloomy and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies maintain separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic property uh we'll also go over a wrap-up and that should leave his time at the very really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more common and handling them ends up being more and more complex Global organizations are aiming to find Solutions and new methods to simplify processes especially from a payroll and cross-border payment perspective many companies keep separate savings account just for payroll while some have multiple accounts in various nations does it make sense for business to keep separate savings account often in different countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business improve the episode complex processes of
Making sure accurate, efficient, and timely payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll costs to optimize working capital, and find how simplifying international payroll payments can transform them from a difficult task into a tactical possession.
Handling payroll globally is an overwhelming task due to different policies, compliance requirements, data security issues, and banking rules. The large variety of workers and companies contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Traditional payroll systems typically lead to manual processes, information silos, and a lack of integration, resulting in disparities and inefficiencies. Despite living in a period of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to supply insights and services to streamline and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more a business invests in global payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of global organizations have actually revealed that they don't 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 information entry errors improperly communicated hires and terminations in addition to lack management and system setups and then when you round all of it off and the data is delivered to the wrong place the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments don't run efficiently if they count on the needed multiple 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 organization face when they're making payments to staff members or otherwise that's a great concern I always throw this back and say what is it what does not require to be consisted of ideal and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 have to pay from the client's own in-country account so there's intricacy any place you look ideal eventually developing a knowledge base is absolutely important but 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 type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is allowing us to type of move forward with that it also also to add to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely necessary that payroll and financing teams work more detailed together than ever um I'm constantly astonished when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on wellness and the compensation landscape is ending up being progressively elaborate. Services are continually presenting brand-new benefits and payment choices, which contributes to the general complexity. Large corporations frequently divide their payroll and payment processing into separate groups, which can result in inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's technologically advanced period, there's no validation for preserving cumbersome treatments. Payroll, the business's biggest expenditure, must be processed correctly and on time. Even slight delays can adversely impact workers' wellness and have significant effects. Therefore, it's important to focus on precise and prompt payments.
payroll group get um so I'm not sure anybody on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle we all find out about it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment solution is an excellent initial step um supplying an end-to-end payroll solution for your employees worldwide once again I believe is another substantial um procedure again lining up and ensuring you have standardization Global procedures all of those things are definitely crucial to success success of businesses and decreasing the number of tools platforms and bank accounts they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever 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 don't think any of us are in fact doing that for for the thanks
anyhow 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 everyone that's associated with those procedures and likewise so picture sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions imagine getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and sort of try to get back to everybody so carrying on look why do business pick to primary separate savings account there are businesses out there doing precisely this for particular nations and I've operated in an organization or lots of businesses doing exactly that I can state it does not always feel efficient and it does produce more work I know we're not deliberately doing that we're not creating extra work for anyone where we do not need to and anybody 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 amount that we are I believe many reasons one is it's the standard I think people have got so used to we require a new savings account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I think this is a procedure that requires taking a look at it requires altering however ultimately people are really stuck to what they recognize
with best um modification is a difficult thing all of us do not like modification 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 things um I understand clearly the benefits of having preserving multiple savings account but there's a huge quantity of complexity chooses setting up a bank account maintaining it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for specific individuals so the complexity is big however I believe the honest response is change um people have not had the ability to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century or so there is a lot to keep an eye on and this approach does present a number of challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I just did you changed 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 Global staff members you should have a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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