Find out more about Papaya Global Courses West Sussex ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a protected and trustworthy technique of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app enhances my payroll procedure, saving me a significant quantity of time monthly. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Worker Portal
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive advantages bundles to international staff members regardless of the variety of staff members in the business. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source regional advantages companies in every country, create regional accounts and have a minimum number of employees.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment expenses dispersed per location, overall work expenses per cycle and a lot more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business managing and building external relationships supporting Business customers and solutions along with serving as a consultant for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of prominent companies worldwide we offer payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon good night depending on where you are in the world it's lovely to satisfy 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 specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually type of had a variety of different roles on the company side and likewise on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly 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 really extremely gloomy and I want I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why companies maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a strategic possession uh we'll likewise go over a wrap-up and that ought to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being more and more typical and managing them ends up being increasingly more complex Worldwide organizations are aiming to find Solutions and new ways to enhance procedures specifically from a payroll and cross-border payment perspective lots of companies preserve different bank account just for payroll while some have numerous accounts in different countries does it make good sense for companies to keep separate bank accounts in some cases in various countries it does but just for payroll is there a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping international business enhance the episode complex procedures of
Making sure accurate, efficient, and prompt payroll payments is a complex obstacle for organizations operating internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, learn how companies forecast payroll costs to enhance working capital, and find how simplifying international payroll payments can change them from a challenging job into a tactical possession.
Managing payroll worldwide is an overwhelming job due to different policies, compliance requirements, information security concerns, and banking guidelines. The large number of employees and organizations contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems frequently result in manual procedures, data silos, and a lack of integration, causing disparities and ineffectiveness. Despite residing in a period of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to supply insights and options 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 just 11 of organizations say they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of a photo they see a lack of exposure likewise encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal almost half of international businesses 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 because of time reporting poor HCM data information entry errors poorly interacted hires and terminations in addition to absence management and system configurations and then when you round everything 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 when payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they count on the necessary several 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 obstacles company face when they're paying to workers or otherwise that's a good concern I constantly throw this back and state what is it what does not need to be included best and what does
it need to be thought about there's varying 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 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 consumer's own in-country account so there's complexity anywhere you look right ultimately building a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to type of move forward with that it also also to add to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing groups work better together than ever um I'm constantly amazed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession 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 frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more important to add to type of the level of intricacy there's more and more benefits being organ or being offered by organizations across the world so again you're simply looking to add increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real difficulties or real difficult type of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of years I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's actually handling the payment side of things but you know in in my opinion and my experience that does not always require to be the case you know long gone are the times where we need to create extra handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and a period that you know that we are operating in today there is no reason we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any business has from an expense point of view from an effect viewpoint on employees it is absolutely crucial that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive effect on people's wellness and lots of other factors if people aren't paid uh I've always been impressed entering into this Market kind of the last five to ten years is how little thanks the
payroll group get um so I'm not exactly sure anyone 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 staff members or not um however eventually payroll is such an essential cycle all of us hear about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done correctly so leveraging the very first International Payments very first payroll payment solution is an excellent initial step um supplying an end-to-end payroll service for your staff members worldwide again I believe is another big um process again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of services and reducing the variety of tools platforms and checking account they require for their International 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've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're indicated to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how crucial a function it is and that'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 involved in those processes and likewise so envision sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and actually see what was going on and sort of try to return to everyone so proceeding appearance why do companies choose to main separate savings account there are organizations out there doing precisely this for particular nations and I've operated in a company or lots of services doing exactly that I can state it doesn't always feel effective and it does develop more work I know we're not purposely doing that we're not producing extra work for any person where we do not need to and any person that's handling 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 believe many factors one is it's the standard I think individuals have actually got so utilized to we need a new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have adopted and continue to do over years and years gone past to contribute to that people 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 variety I think this is a process that needs taking a look at it needs altering however ultimately people are really stuck with what they recognize
with right um modification is a challenging thing we all do not like change um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having preserving multiple checking account but there's a substantial amount of complexity opts for establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for specific people so the intricacy is huge however I think the sincere response is change um people haven't had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a checking account I think you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we have actually constantly 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 could practically be identified to be the next Century approximately there is a lot to keep track of and this approach does pose a number of difficulties um so Johnny might you tell us about those challenges yeah naturally so there's a range 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'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 workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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