Find out more about Crunchbase Papaya Global ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and reputable approach of paying to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll process, conserving me a considerable quantity of time monthly. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Employee Portal offers workers with the ability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global helps companies use competitive advantages bundles to international workers despite the variety of employees in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source regional advantages service providers in every nation, produce local accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall employment costs dispersed per location, total work expenses per cycle and a lot more.
environments around the world I supplied management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout business managing and building external relationships supporting Business clients and services in addition to functioning as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for most influential companies worldwide we provide payroll payments and labor force management to all employee types in over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon great night depending on where you remain in the world it's beautiful to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've sort of had a range of different roles on the service provider side and likewise on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's very extremely gloomy and I wish I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies keep different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll likewise go over a wrap-up and that must leave his time at the very very 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 Global labor forces end up being a growing number of common and managing them ends up being more and more complex International companies are seeking to discover Solutions and new methods to simplify procedures specifically from a payroll and cross-border payment standpoint many companies maintain different bank account just for payroll while some have numerous accounts in various countries does it make sense for business to maintain different checking account in some cases in different nations it does but just for payroll is there a better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies enhance the episode complex processes of
Making sure accurate, effective, and prompt payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to enhance working capital, and discover how streamlining international payroll payments can transform them from a challenging task into a tactical property.
Managing payroll internationally is a daunting job due to numerous policies, compliance requirements, information security issues, and banking rules. The large number of workers and companies adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual processes, information silos, and an absence of combination, causing disparities and inadequacies. Regardless of residing in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to offer insights and options to streamline and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization spends on international payroll the less of a picture they see an absence of exposure also reaches payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of worldwide organizations have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes inadequately communicated 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 location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they count 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 difficulties company face when they're paying to staff members or otherwise that's a great concern I always toss this back and say what is it what doesn't need to be consisted of right and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 client's own in-country account so there's complexity any place you look right ultimately constructing a knowledge base is absolutely critical but everywhere 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 look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and technology is permitting us to sort of move on with that it also as well to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely vital that payroll and financing groups work better together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 people any place they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on well-being and the compensation landscape is becoming increasingly detailed. Services are continually presenting brand-new benefits and payment choices, which contributes to the general intricacy. Big corporations frequently divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's highly innovative era, there's no justification for preserving cumbersome procedures. Payroll, the company's most significant expenditure, should be processed properly and on time. Even slight delays can negatively impact employees' well-being and have significant effects. For that reason, it's important to focus on accurate and timely payments.
payroll team get um so I'm not sure anyone on this type of webinar has been informed 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 an important cycle all of us hear about it when it fails everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe 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 things is definitely essential that all of this stuff is done properly so leveraging the first Global Payments first payroll payment solution is a terrific primary step um supplying an end-to-end payroll option for your staff members internationally once again I believe is another substantial um process again lining up and ensuring you have standardization International processes all of those things are absolutely key to success success of organizations and minimizing the number of tools platforms and bank accounts they require for their Global 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 do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyhow we understand 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 easy as possible for everybody that's involved in those processes and also so think of sorry I'm simply I was just gon na say envision 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 hundreds of thousands possibly Millions picture getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing job attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and kind of shot to return to everyone so carrying on look why do companies pick to main different savings account there are services out there doing precisely this for specific countries and I have actually worked in a service or numerous organizations doing precisely that I can state it doesn't always feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating additional work for anybody where we don't need to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many reasons one is it's the requirement I think people have got so used to we need a new savings 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 standard the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I think this is a process that requires looking at it requires changing but ultimately individuals are very stuck to what they recognize
with best um change is a tough thing we all do not like change um so I believe it's just sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having maintaining multiple savings account however there's a substantial amount of intricacy opts for setting up a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the intricacy is huge but I think the honest answer is change um individuals have not had the ability to alter or have not had always the knowledge to actually make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to alter however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what might nearly be figured out to be the next Century or so there is a lot to track and this method does posture a number of difficulties um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I simply did you switched 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 employees you should have a corner office with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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