Find out more about Papaya Global Create New Company ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a protected and trustworthy technique of paying to our 10,000 employees worldwide.}
The innovative global payroll management app enhances my payroll procedure, conserving me a considerable amount of time each month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Worker Website
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive benefits plans to global staff members despite the variety of employees in the company. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source regional benefits providers in every nation, create regional accounts and have a minimum variety of workers.
The HR abilities offered by International HR include different functions such as monitoring getaway time, making sure compliance, assisting in the process of inviting brand-new staff members and bidding goodbye to departing ones, using a safe and secure online platform for saving employees' documents, and providing support for work permit treatments in case your workers need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total work costs dispersed per area, total employment expenses per cycle and much more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business managing and building external relationships supporting Business customers and options 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 most prominent business worldwide we offer payroll payments and workforce management to all worker key ins over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon great evening depending on where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I've sort of had a variety of various roles on the supplier side and likewise on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating 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 everyone originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very bleak and I wish I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is especially beneficial for global organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex obstacle for services running internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to enhance working capital, and discover how improving international payroll payments can transform them from a challenging job into a strategic property.
Handling payroll worldwide is a daunting job due to different regulations, compliance requirements, information security concerns, and banking rules. The sheer number of staff members and companies contributes to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems frequently result in manual procedures, information silos, and an absence of integration, causing inconsistencies and inadequacies. Regardless of residing in an era of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to provide insights and services to streamline and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more a company spends on international payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of worldwide businesses have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes improperly interacted hires and terminations as well as absence management and system setups and after that when you round it all off and the information is shipped to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they count on the needed several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're making payments to workers or otherwise that's a great question I always throw this back and state what is it what does not require to be included ideal 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 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 customer's own in-country account so there's complexity wherever you look right ultimately developing a knowledge base is absolutely critical however all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind 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 essential and technology is enabling us to sort of move on with that it also as well to add to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely important that payroll and financing teams work more detailed together than ever um I'm always impressed when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession 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 typically 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 people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the payment landscape is ending up being increasingly detailed. Companies are continually presenting new benefits and payment alternatives, which contributes to the total intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't need to hold true. In today's highly advanced age, there's no reason for preserving cumbersome procedures. Payroll, the business's greatest cost, need to be processed correctly and on time. Even slight delays can adversely affect employees' wellness and have far-reaching consequences. Therefore, it's important to focus on precise and timely payments.
payroll team get um so I'm not exactly sure anyone on this type 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 workers or not um but eventually payroll is such a crucial cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment solution is a fantastic first step um supplying an end-to-end payroll option for your staff members globally once again I think is another substantial um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of companies and minimizing the number of tools platforms and bank accounts they need 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've never had a hundred thousand of them within a payroll cycle don't expect 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 rather where they're suggested to be um I do not believe any of us are actually doing that for for the thanks
anyhow we understand how how essential a role 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 everybody that's involved in those procedures and likewise so think of sorry I'm simply I was just gon na say imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions imagine getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job trying to clean up 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 attempt to browse them and really see what was going on and sort of shot to return to everyone so proceeding look why do companies choose to primary separate checking account there are organizations out there doing exactly this for particular countries and I've operated in a company or lots of companies doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for anyone where we don't have to and anybody that's handling that process I 'd be interested to hear your ideas 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 requirement I believe individuals have actually got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard the people have embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I believe this is a process that needs taking a look at it requires changing however ultimately people are very stuck with what they're familiar
with best um change is a tough thing we all do not like modification um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having keeping several checking account however there's a big quantity of intricacy chooses establishing a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for specific individuals so the complexity is big however I believe the honest answer is modification um individuals have not had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to change but we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century or two there is a lot to monitor and this approach does position numerous difficulties um so Johnny might you inform us about those challenges yeah naturally 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 manage our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your achievements.
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