Find out more about Budget-friendly Hr Solutions With Papaya Global ... 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 actually obtained a different Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and trusted method of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Employee Portal offers staff members with the capability to access and view essential documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to worldwide workers despite the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the need to source regional benefits providers in every country, develop regional accounts and have a minimum number of employees.
The HR capabilities supplied by Worldwide HR incorporate different functions such as keeping an eye on trip time, ensuring compliance, assisting in the procedure of inviting new employees and bidding farewell to departing ones, providing a safe and secure online platform for storing workers' files, and supplying support for work permit procedures in case your employees require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, total employment expenses distributed per place, overall employment expenses per cycle and far more.
environments across the globe I provided management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work throughout the business handling and building external relationships supporting Enterprise clients and services along with functioning as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for many prominent companies on the planet we offer payroll payments and labor force management to all staff member 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 introduce yourself naturally thank you good morning excellent afternoon great night depending on where you are in the world it's charming 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 interested by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or six years where I have actually kind of had a variety of various roles on the supplier side and also on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just offer everybody another couple of uh well among 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 intriguing and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it is 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 bleak and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic possession uh we'll likewise review a recap which must leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more common and handling them ends up being a growing number of intricate Worldwide organizations are looking to discover Solutions and brand-new methods to improve procedures particularly from a payroll and cross-border payment viewpoint many companies preserve different checking account just for payroll while some have multiple accounts in various nations does it make sense for business to preserve separate checking account sometimes in different nations it does but just for payroll exists a better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational companies simplify the episode complex processes of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for businesses operating globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to optimize working capital, and find how improving worldwide payroll payments can transform them from a troublesome task into a strategic asset.
Handling payroll globally is a complicated job due to various regulations, compliance requirements, information security concerns, and banking rules. The sheer number of staff members and services adds to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically result in manual procedures, data silos, and an absence of integration, leading to inconsistencies and ineffectiveness. In spite of living in a period of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to provide insights and options 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 just 11 of services say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more a service invests in worldwide payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of global organizations have actually expressed that they do not 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 bad HCM data data entry mistakes improperly communicated hires and terminations along with absence management and system configurations and then when you round it all off and the data is shipped to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they depend on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're paying to staff members or otherwise that's a good question I constantly throw this back and say what is it what does not need to be consisted of best and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is definitely critical however everywhere you look with payroll payment they are like super payments no if but some infants 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 enabling us to sort of move forward with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely vital that payroll and financing groups work closer together than ever um I'm constantly impressed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry 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 any place they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on well-being and the settlement landscape is ending up being progressively intricate. Organizations are continually presenting brand-new advantages and payment options, which contributes to the general intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to inefficiencies and bottlenecks. In my opinion, this doesn't need to hold true. In today's technically sophisticated era, there's no reason for keeping troublesome treatments. Payroll, the company's biggest expenditure, must be processed correctly and on time. Even minor delays can negatively affect workers' well-being and have far-reaching consequences. Therefore, it's vital to focus on precise and prompt payments.
payroll team get um so I'm uncertain anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout 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 definitely crucial that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment solution is a terrific initial step um providing an end-to-end payroll service for your staff members worldwide once again I think is another big um process again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of organizations and minimizing the number of tools platforms and savings account they need 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've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone quite where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyhow we understand how how essential 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 everybody that's associated with those processes and likewise so think of sorry I'm just I was just gon na state picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions picture getting that lots of thank you notes um I indicate 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 up 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 need days of the week to try to browse them and really see what was going on and kind of try to get back to everyone so moving on look why do business pick to primary separate savings account there are organizations out there doing exactly this for particular countries and I've operated in a service or many services doing exactly that I can say it doesn't always feel efficient and it does create more work I know we're not intentionally doing that we're not producing extra work for any person where we don't have to and any person 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 lots of factors one is it's the requirement I think individuals have got so used to we require a new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have embraced 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 methods um to to kind of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing but eventually individuals are really stuck with what they recognize
with ideal um change is a challenging thing we all don't like modification um so I believe it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having preserving multiple bank accounts but there's a substantial quantity of intricacy goes with establishing a bank account keeping it guaranteeing it can send International transfers ensuring it's established with the best user accesses for specific individuals so the complexity is big but I think the truthful answer is change um individuals have not been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I think it is knowledge you know and there is a component of resistance to change however we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what might practically be identified to be the next Century approximately there is a lot to track and this method does present numerous obstacles um so Johnny might you tell 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 handle our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this enhanced ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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