Find out more about Efficient And Affordable Hr Operations With Papaya Global ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and trusted method of paying to our 10,000 workers worldwide.}
The advanced global payroll management app simplifies my payroll procedure, saving me a substantial amount of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Staff member Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive benefits plans to international workers despite the number of staff members in the business. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source local advantages service providers in every country, create local accounts and have a minimum variety of workers.
The HR capabilities supplied by Global HR encompass numerous functions such as keeping an eye on trip time, guaranteeing compliance, helping with the procedure of welcoming new staff members and bidding goodbye to departing ones, using a secure online platform for saving workers' files, and offering support for work permit procedures in case your employees require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, overall employment expenses dispersed per area, total employment expenses per cycle and much more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business handling and building external relationships supporting Enterprise customers and solutions as well as serving as an advisor for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have constantly captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've sort of had a range of different roles on the supplier side and likewise on the supplier side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today definitely 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 want I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why business keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a strategic property uh we'll likewise go over a recap which must leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being more and more typical and managing them ends up being increasingly more intricate Global organizations are aiming to discover Solutions and new methods to enhance processes specifically from a payroll and cross-border payment viewpoint many organizations keep different savings account just for payroll while some have numerous accounts in different countries does it make sense for companies to maintain separate checking account often in various countries it does but just for payroll exists a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international companies streamline the episode complex processes of
Making sure precise, efficient, and timely payroll payments is a complex challenge for services running globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll costs to enhance working capital, and find how streamlining global payroll payments can change them from a burdensome job into a tactical possession.
Handling payroll worldwide is an overwhelming task due to various guidelines, compliance requirements, data security concerns, and banking rules. The sheer variety of staff members and organizations adds to the complexity, with an approximated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. Despite living in a period of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to provide insights and services to simplify and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization spends on worldwide payroll the less of a picture they see a lack of visibility also extends to payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide businesses 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 due to time reporting bad HCM information information entry mistakes inadequately communicated hires and terminations along with absence management and system setups and after that when you round all of it off and the data is shipped to the wrong location the average cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they rely on the necessary several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're paying to staff members or otherwise that's a good question I constantly toss this back and say what is it what does not need to be included right and what does
it need to be thought about there's differing Bank details 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity anywhere you look ideal ultimately developing a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is permitting us to sort of move forward with that it also too to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely imperative that payroll and finance groups work closer together than ever um I'm always surprised when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on well-being and the payment landscape is ending up being increasingly intricate. Organizations are constantly presenting new advantages and payment alternatives, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can cause ineffectiveness and traffic jams. In my opinion, this doesn't have to hold true. In today's highly advanced period, there's no justification for maintaining cumbersome procedures. Payroll, the business's most significant cost, should be processed properly and on time. Even slight hold-ups can adversely affect staff members' wellness and have far-reaching consequences. For that reason, it's crucial to prioritize precise and prompt payments.
payroll group get um so I'm not sure anyone on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle we all become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout 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 stuff is definitely vital that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment solution is a fantastic first step um supplying an end-to-end payroll service for your workers worldwide once again I believe is another big um process again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely essential to success success of businesses and lowering the variety of tools platforms and bank accounts 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 thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand how how crucial 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 easy as possible for everybody that's associated with those procedures and likewise so picture sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting 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 held true 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 return to everybody so proceeding appearance why do business select to primary different checking account there are organizations out there doing exactly this for specific countries and I've worked in a company or lots of organizations doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not developing additional work for anybody where we don't have to and anybody that's dealing with that process 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 factors one is it's the standard I believe individuals have got so used to we need a new checking account we open an entity and appropriately so you require it for payroll functions but 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 adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a variety I believe this is a procedure that requires looking at it requires altering however eventually individuals are really stuck to what they recognize
with right um modification is a hard thing all of us do not like modification um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having preserving multiple checking account however there's a substantial quantity of intricacy chooses setting up a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual people so the complexity is huge however I think the honest response is change um individuals haven't had the ability to change or have not had always the understanding to really make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to alter but we've constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might practically be determined to be the next Century approximately there is a lot to monitor and this approach does pose numerous obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I recently made a modification 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 improved ability, I have actually successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your achievements.
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