Find out more about Boost Compliance And Efficiency On A Budget With Papaya Global ... 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 acquired a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and dependable method of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
The Worker Website provides workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies use competitive advantages plans to international workers no matter the variety of employees in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional benefits service providers in every nation, produce regional accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall employment expenses dispersed per location, overall work expenses per cycle and far more.
environments across the globe I offered management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business managing and building external relationships supporting Business clients and services as well as functioning as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a pleasure to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have actually constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've type of had a variety of different roles on the company side and also on the supplier side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I actually 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 very extremely gloomy and I wish I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business maintain separate
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly helpful for global companies with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for companies running worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to enhance working capital, and discover how streamlining worldwide payroll payments can transform them from a challenging job into a strategic possession.
Managing payroll worldwide is a daunting task due to various policies, compliance requirements, information security concerns, and banking rules. The sheer number of employees and companies adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems often result in manual processes, information silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. In spite of living in a period of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to offer insights and options to simplify and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more a company spends on worldwide payroll the less of an image they see an absence of presence likewise reaches payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal almost half of international businesses have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors inadequately communicated hires and terminations along with lack management and system configurations and then when you round everything off and the data is shipped to the wrong location the average cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they count on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're paying to staff members or otherwise that's an excellent question I always toss this back and state what is it what doesn't require to be included right and what does
it need to be considered 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 have 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 ideal eventually developing a knowledge base is definitely 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 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 essential and innovation is permitting us to sort of move forward with that it also too to add to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and financing teams work closer together than ever um I'm always impressed when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually 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 but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high worth on well-being and the settlement landscape is ending up being progressively complex. Organizations are constantly introducing new benefits and payment choices, which adds to the general intricacy. Large corporations often divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my viewpoint, this doesn't need to hold true. In today's highly sophisticated period, there's no validation for preserving cumbersome treatments. Payroll, the business's most significant expenditure, need to be processed properly and on time. Even small hold-ups can adversely impact employees' wellness and have far-reaching consequences. Therefore, it's important to focus on precise and timely payments.
payroll group get um so I'm unsure anybody on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely important that all of this things is done correctly so leveraging the first International Payments very first payroll payment option is a great first step um offering an end-to-end payroll option for your employees internationally once again I think is another huge um process again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of services and minimizing the variety of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to 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 have not gone rather where they're implied to be um I do not think any of us are really doing that for for the thanks
anyway we know how how important 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 simple as possible for everybody that's associated with those processes and also so picture sorry I'm simply I was just gon na say think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions envision getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and really see what was going on and type of try to return to everyone so proceeding look why do companies choose to main different bank accounts there are organizations out there doing precisely this for particular nations and I have actually operated in a business or numerous organizations doing exactly that I can say it does not constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating extra work for anybody where we do not need to and anyone 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 think lots of factors one is it's the requirement I think individuals have actually got so utilized to we need a new checking account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I think this is a process that needs looking at it needs changing however eventually individuals are extremely stuck with what they're familiar
with best um change is a challenging thing all of us don't like change um so I think it's just sort of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having maintaining multiple savings account however there's a substantial quantity of intricacy chooses establishing a checking account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity is substantial however I believe the sincere response is change um people haven't had the ability to alter 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 think it is understanding you know and there is an element of resistance to change however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might practically be identified to be the next Century or two there is a lot to keep track of and this approach does posture numerous challenges um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I just did you changed our Enterprise 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 Worldwide workers you deserve 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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