Find out more about Enhancing Hr Efficiency Cost-effectively With 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 gotten a different Chief Financial Officer specifically devoted to handling payments. This offers us with a protected and dependable method of making payments to our 10,000 workers worldwide.}
The innovative global payroll management app simplifies my payroll process, saving me a substantial quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
The Employee Website supplies workers with the capability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global assists business offer competitive advantages bundles to worldwide employees regardless of the number of employees in the company. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source regional advantages providers in every country, produce local accounts and have a minimum number of employees.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall work costs dispersed per area, overall employment costs per cycle and a lot more.
environments across the globe I offered management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout business managing and structure external relationships supporting Enterprise customers and solutions as well as serving as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I've type of had a range of different roles on the service provider side and likewise on the vendor side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer 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 fascinating 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 everyone 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 raining here it's really really uninspiring 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 taking a look at the challenge years of handling International payroll why business maintain different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially helpful for global organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of keeping different checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex obstacle for services operating worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to optimize working capital, and discover how improving international payroll payments can change them from a troublesome job into a tactical possession.
Handling payroll globally is a difficult task due to various regulations, compliance requirements, information security issues, and banking rules. The large number of workers and businesses adds to the complexity, with an approximated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and an absence of integration, leading to inconsistencies and inefficiencies. Despite residing in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to supply insights and solutions to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization invests in global payroll the less of a picture they see an absence of exposure also extends to payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide businesses have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors improperly communicated hires and terminations as well as lack management and system setups and then when you round it all off and the information is delivered to the incorrect location the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges business face when they're making payments to staff members or otherwise that's a great concern I constantly throw this back and state what is it what doesn't need to be consisted of ideal and what does
it need to be thought about 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 intricacy wherever you look best ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to kind of move on with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely essential that payroll and finance teams work more detailed together than ever um I'm always astonished when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work 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 typically 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 likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the payment landscape is ending up being increasingly detailed. Organizations are continuously presenting new advantages and payment alternatives, which adds to the general intricacy. Large corporations frequently divide their payroll and payment processing into separate groups, which can result in ineffectiveness and bottlenecks. In my viewpoint, this does not have to hold true. In today's highly sophisticated period, there's no reason for maintaining cumbersome treatments. Payroll, the business's biggest cost, should be processed properly and on time. Even minor delays can negatively impact employees' wellness and have significant repercussions. Therefore, it's important to prioritize precise and prompt payments.
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 staff members or not um but ultimately payroll is such an essential cycle all of us become aware of 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 view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is a great initial step um offering an end-to-end payroll solution for your staff members internationally once again I think is another huge um procedure again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of organizations and decreasing the number of tools platforms and bank accounts they require for their International 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've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't 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 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 involved in those processes and also so imagine sorry I'm simply I was simply 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 make certain we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case 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 try to get back to everybody so moving on look why do business pick to primary different bank accounts there are businesses out there doing precisely this for specific countries and I have actually operated in a business or lots of organizations doing exactly that I can state it does not constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anybody where we don't have to and any person that's handling that procedure 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 believe lots of reasons one is it's the requirement I believe people have got so used to we require a new checking account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard the people have embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I think this is a process that needs looking at it needs altering but eventually people are very stuck to what they recognize
with best um modification is a hard thing we all don't like modification um so I think it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having maintaining numerous savings account but there's a substantial amount of intricacy opts for establishing a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private people so the intricacy is big however I think the honest response is change um people have not been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to monitor and this method does pose several challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced ability, I have actually successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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