Find out more about Boost Hr Efficiency On A Budget With Papaya Global ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and trustworthy approach of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app improves my payroll process, conserving me a significant quantity of time every month. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Employee Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment files. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to international staff members despite the variety of staff members in the company. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source local advantages service providers in every nation, develop regional accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total employment costs distributed per area, overall employment expenses per cycle and much more.
environments across the globe I supplied leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout business handling and structure external relationships supporting Enterprise clients and solutions along with acting as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for many influential companies on the planet we supply payroll payments and workforce management to all staff member enters over 160 countries I am pleased to say 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 good afternoon great night depending upon where you remain in the world it's beautiful to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually type of had a range of different functions on the service provider side and also on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody comes 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 raining here it's very very bleak and I want I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we'll likewise review a recap which needs to leave his time at the very 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 International labor forces end up being increasingly more typical and managing them ends up being a growing number of intricate Worldwide organizations are wanting to discover Solutions and brand-new ways to enhance procedures especially from a payroll and cross-border payment perspective numerous companies preserve different checking account just for payroll while some have numerous accounts in various nations does it make good sense for business to preserve separate bank accounts often in different nations it does however just for payroll exists a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business enhance the episode complex processes of
Guaranteeing precise, effective, and timely payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to enhance working capital, and find how simplifying worldwide payroll payments can change them from a troublesome job into a strategic property.
Handling payroll globally is a complicated job due to various guidelines, compliance requirements, information security concerns, and banking guidelines. The sheer number of workers and organizations adds to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual processes, information silos, and a lack of combination, leading to disparities and inadequacies. In spite of living in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to supply insights and solutions to streamline and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that gives me sleepless nights and quite honestly the more a business spends on worldwide payroll the less of a picture they see an absence of presence likewise reaches payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal almost half of international companies have actually 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 because of time reporting bad HCM data information entry mistakes inadequately interacted hires and terminations along with absence management and system setups and then when you round all of it off and the data is delivered to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they depend 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 needs to be factored into the challenges organization face when they're paying to employees or otherwise that's a good concern I constantly throw this back and state what is it what does not need to be consisted of right and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities 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 intricacy wherever you look right ultimately developing a knowledge base is absolutely vital but all over you look with payroll payment they resemble incredibly payments no if however 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 believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to sort of move forward with that it also as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work closer together than ever um I'm always astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anyone 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 typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to add to sort of the level of intricacy there's more and more advantages being organ or being used by organizations throughout the world so again you're just seeking to include a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real obstacles or real challenging sort of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would certainly state 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 task there are teams feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an era of tech and an age that you understand that we are working in today there is no reason why we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single greatest liability that any service has from an expense perspective from an effect viewpoint on workers it is absolutely vital that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental impact on people's wellness and many other aspects if people aren't paid uh I've always been astonished entering this Market sort of the last 5 to 10 years is how little thanks the
payroll team get um so I'm unsure anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle we all find out about it when it fails everyone 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 view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this things is done correctly so leveraging the very first International Payments first payroll payment service is a fantastic first step um supplying an end-to-end payroll solution for your staff members globally once again I believe is another huge um procedure once again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely key to success success of organizations and minimizing the number of tools platforms and savings account they need for their Global 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 have actually never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're indicated to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand 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 simple as possible for everyone that's involved in those procedures and also so think of sorry I'm simply I was just gon na say picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions imagine getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and actually see what was going on and kind of shot to get back to everybody so carrying on look why do business choose to main different checking account there are companies out there doing exactly this for particular nations and I have actually operated in a service or lots of services doing precisely that I can say it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not producing additional work for anybody where we don't have to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the requirement I think individuals have got so utilized to we require a new checking account we open an entity and rightly 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 individuals 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 many other ways um to to type of do it so I think there's a range I think this is a process that needs taking a look at it needs altering but ultimately individuals are extremely stuck with what they recognize
with ideal um change is a hard thing all of us do not like modification um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having keeping multiple checking account but there's a huge amount of complexity chooses setting up a checking account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific people so the complexity is huge however I believe the truthful response is modification um individuals haven't had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might almost be determined to be the next Century or two there is a lot to monitor and this method does present a number of challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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