Find out more about Papaya Global Courses College Somerset ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to managing payments. This offers us with a protected and reputable approach of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Worker Website
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to international employees despite the variety of workers in the company. The company can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local advantages suppliers in every country, create local accounts and have a minimum variety of employees.
The HR capabilities offered by Worldwide HR incorporate various functions such as keeping an eye on vacation time, ensuring compliance, facilitating the process of welcoming brand-new employees and bidding farewell to leaving ones, using a secure online platform for saving employees' documents, and providing support for work allow treatments in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total employment expenses dispersed per area, total employment costs per cycle and much more.
environments across the globe I provided management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout business managing and structure external relationships supporting Enterprise customers and solutions along with functioning as a consultant for those of you that don't know who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for a lot of prominent business on the planet we supply payroll payments and labor force management to all employee key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent night depending upon where you are in the world it's charming 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've been 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 problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've sort of had a variety of various roles on the provider side and also on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it is 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 extremely very uninspiring and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why business preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical property uh we'll also discuss a recap and that must leave his time at the really really end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being a growing number of common and managing them becomes increasingly more complex International companies are wanting to discover Solutions and new methods to streamline procedures especially from a payroll and cross-border payment perspective lots of organizations keep different savings account just for payroll while some have several accounts in different countries does it make good sense for companies to preserve different savings account sometimes in various countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies enhance the episode complex procedures of
Making sure accurate, effective, and prompt payroll payments is a complex difficulty for businesses operating internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, learn how business anticipate payroll expenses to enhance working capital, and discover how streamlining global payroll payments can transform them from a challenging task into a strategic property.
Managing payroll globally is a complicated job due to numerous policies, compliance requirements, information security concerns, and banking rules. The large variety of employees and organizations adds to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems often lead to manual procedures, data silos, and a lack of combination, resulting in inconsistencies and inefficiencies. In spite of living in a period of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to offer insights and solutions 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 businesses say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service spends on global payroll the less of a picture they see an absence of presence also extends to payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of global services have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors badly interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the information is shipped to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they rely 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 requires to be factored into the difficulties company face when they're paying to staff members or otherwise that's an excellent concern I always toss this back and state what is it what does not need to be included best and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities 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 complexity wherever you look right eventually developing a knowledge base is definitely vital however 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 look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is enabling us to kind of move forward with that it also as well to add to that payroll and finance need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work better together than ever um I'm always impressed when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation 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 wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high value on well-being and the payment landscape is becoming increasingly complex. Services are constantly presenting new advantages and payment options, which contributes to the overall intricacy. Big corporations often divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this does not need to be the case. In today's highly advanced era, there's no justification for maintaining cumbersome procedures. Payroll, the business's most significant cost, must be processed correctly and on time. Even slight delays can adversely affect employees' well-being and have significant repercussions. Therefore, it's crucial to focus on precise and timely payments.
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only see when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's viewed externally as well. Therefore, it is vital to ensure that tasks like Wi-Fi Global and other essential matters are done correctly. Using the very first Worldwide Payments first payroll payment solution is a great initial action towards offering a comprehensive payroll service for staff members worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and savings account necessary for global payroll are key factors in attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few grievances when things don't go as prepared. Ultimately, we do not do it for the appreciation.
anyway we know 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 simple as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm just I was just gon na say picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying 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 need days of the week to attempt to look through them and in fact see what was going on and sort of shot to return to everybody so moving on look why do business select to primary different savings account there are businesses out there doing exactly this for particular nations and I have actually operated in an organization or numerous companies doing exactly that I can state it doesn't always feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for anyone where we do not have to and anyone that's dealing with 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 lots of factors one is it's the requirement I believe individuals have got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to type of do it so I think there's a variety I believe this is a process that requires looking at it requires changing however ultimately people are extremely stuck to what they're familiar
with best um change is a challenging thing we all don't like change um so I think it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having keeping several checking account but there's a huge quantity of complexity chooses establishing a savings account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is substantial however I believe the truthful answer is change um individuals haven't been able to change or have not had necessarily the knowledge to really 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 knowledge you understand and there is an element of resistance to alter but we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be identified to be the next Century or so there is a lot to track and this method does present numerous challenges um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I simply did you switched our Business 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 International workers you should have a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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