Find out more about Papaya Global Create Department ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and reputable method of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app improves my payroll process, saving me a significant quantity of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
The Employee Portal supplies workers with the ability to gain access to and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global helps business use competitive advantages bundles to global staff members regardless of the number of employees in the company. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source regional advantages suppliers in every country, create regional accounts and have a minimum variety of employees.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall work expenses dispersed per area, overall work expenses per cycle and a lot more.
environments across the globe I offered leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work across business managing and building external relationships supporting Business clients and options in addition to acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We specialize in offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The intricacies and challenges of this field have constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually sort of had a variety of different roles on the service provider side and also on the supplier side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply offer everybody another number of uh well among 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 everyone is um it's nice to to sort of like see where everyone comes from and I truly 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 extremely very dreary and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why business maintain different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic property uh we'll likewise go over a wrap-up and that needs to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more typical and managing them ends up being more and more intricate Global companies are aiming to find Solutions and new ways to improve procedures particularly from a payroll and cross-border payment perspective many organizations keep separate checking account just for payroll while some have several accounts in different countries does it make good sense for business to preserve different savings account often in different nations it does however just for payroll exists a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational business streamline the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for companies operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, learn how companies forecast payroll costs to enhance working capital, and find how simplifying global payroll payments can change them from a challenging job into a tactical asset.
Handling payroll worldwide is a complicated task due to numerous policies, compliance requirements, information security concerns, and banking rules. The large number of workers and organizations adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and a lack of combination, resulting in disparities and ineffectiveness. Regardless of living in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to offer insights and solutions to streamline and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite honestly the more a service invests in worldwide payroll the less of an image they see a lack of exposure also encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of global services have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes poorly communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is delivered to the wrong location the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they rely on the needed 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 making payments to workers or otherwise that's a good question I constantly throw this back and state what is it what doesn't require to be consisted of right and what does
it need to be thought about there's varying 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 abilities 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 any place you look ideal ultimately building a knowledge base is definitely crucial but all over you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind 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 definitely fundamental and innovation is permitting us to type of progress with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance teams work better together than ever um I'm always impressed when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on wellness and the payment landscape is ending up being progressively intricate. Services are constantly presenting brand-new benefits and payment choices, which contributes to the overall complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can result in ineffectiveness and traffic jams. In my opinion, this doesn't need to be the case. In today's technologically advanced period, there's no reason for preserving cumbersome procedures. Payroll, the company's greatest cost, need to be processed properly and on time. Even small hold-ups can negatively affect staff members' well-being and have far-reaching effects. Therefore, it's important to prioritize precise and timely payments.
payroll team get um so I'm not sure anyone on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle all of us find out about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout 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 important that all of this stuff is done properly so leveraging the first International Payments very first payroll payment service is an excellent primary step um offering an end-to-end payroll option for your employees globally once again I think is another huge um procedure once again aligning and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of services and reducing the number of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone quite where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we know how how important a role 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 procedures and likewise so think of sorry I'm just I was just gon na say picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and in fact see what was going on and sort of shot to get back to everyone so proceeding appearance why do business pick to main different checking account there are services out there doing precisely this for particular countries and I have actually worked in an organization or many organizations doing precisely that I can state it doesn't constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not producing extra work for anyone where we don't have to and anyone that's dealing with that procedure 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 numerous reasons one is it's the standard I believe people have actually got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I believe this is a procedure that requires looking at it needs altering however eventually people are very stuck to what they recognize
with right um modification is a challenging thing all of us do not like change um so I believe it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having maintaining several bank accounts however there's a big amount of intricacy chooses setting up a savings account keeping it guaranteeing it can send International transfers ensuring it's established with the best user accesses for individual individuals so the intricacy is substantial however I think the honest answer is change um people haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century or two there is a lot to keep an eye on and this technique does posture numerous obstacles um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I just 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 Global staff members you deserve a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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