Find out more about Hr Compliance And Efficiency On A Budget With Papaya Global ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and reputable approach of paying to our 10,000 workers worldwide.}
The advanced worldwide payroll management app enhances my payroll procedure, conserving me a substantial quantity of time every month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
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Staff members have access to a Worker Portal where they can view their pay slips, wage and tax declarations and employment files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive advantages bundles to worldwide staff members no matter the number of workers in the company. The company can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every nation, produce local accounts and have a minimum number of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall work costs distributed per place, total employment expenses per cycle and a lot more.
Worldwide, I have actually demonstrated management and tactical proficiency in guiding large-scale populations of over 100,000 employees across 170 countries. Presently, I are accountable for overseeing payroll methods, as discussed by Mark. My role involves handling and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a global business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and chose to type of make a real go at that over the last 5 or six years where I've sort of had a variety of different roles on the company side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly 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 raining here it's really really bleak and I wish I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies preserve separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical property uh we'll likewise review a recap and that should leave his time at the extremely extremely 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 workforces end up being increasingly more typical and managing them becomes increasingly more complex Worldwide organizations are aiming to discover Solutions and brand-new methods to streamline processes specifically from a payroll and cross-border payment perspective many companies maintain separate checking account just for payroll while some have multiple accounts in different countries does it make sense for business to preserve separate bank accounts in some cases in various nations it does however just for payroll is there a better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international companies improve the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to enhance working capital, and find how streamlining worldwide payroll payments can change them from a difficult task into a strategic asset.
Managing payroll worldwide is a complicated job due to various regulations, compliance requirements, information security concerns, and banking guidelines. The sheer variety of workers and organizations adds to the complexity, with an approximated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems often result in manual procedures, information silos, and an absence of combination, causing disparities and inefficiencies. Despite residing in an era of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to offer insights and solutions to simplify and optimize global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization spends on international payroll the less of a photo they see an absence of visibility likewise encompasses payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide organizations have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes improperly communicated hires and terminations along with absence management and system configurations and after that when you round everything off and the data is shipped to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they rely on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they're paying to staff members or otherwise that's an excellent question I always toss this back and state what is it what does not require to be consisted of ideal and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity any place you look right eventually building a knowledge base is absolutely important however everywhere you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 enabling us to kind of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup processes is absolutely essential that payroll and finance teams work better together than ever um I'm constantly amazed when people state I've divided payroll and payment um if you stroll 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 a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on wellness and the compensation landscape is ending up being progressively intricate. Businesses are constantly introducing new benefits and payment choices, which contributes to the overall complexity. Large corporations often divide their payroll and payment processing into different teams, which can lead to inefficiencies and traffic jams. In my opinion, this does not have to hold true. In today's technically advanced age, there's no justification for keeping troublesome treatments. Payroll, the business's greatest expense, must be processed properly and on time. Even small delays can adversely impact employees' wellness and have significant consequences. Therefore, it's critical to focus on accurate and timely payments.
payroll team get um so I'm unsure anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong 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 stuff is done properly so leveraging the first Global Payments first payroll payment service is an excellent primary step um offering an end-to-end payroll solution for your staff members globally again I believe is another substantial um process once again aligning and guaranteeing you have standardization Global processes all of those things are definitely crucial to success success of services and minimizing the number of tools platforms and savings account they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone rather where they're suggested to be um I don't think any of us are really doing that for for the thanks
anyhow we understand how how crucial 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 also so think of sorry I'm simply I was just gon na say picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions picture getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and really see what was going on and sort of try to return to everybody so carrying on appearance why do business choose to primary separate checking account there are businesses out there doing exactly this for specific countries and I have actually operated in a company or numerous services doing precisely that I can say it does not constantly feel effective and it does develop more work I know we're not purposely doing that we're not creating extra work for anybody where we do not have to and anybody that's managing 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 amount 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 brand-new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it needs altering however ultimately individuals are extremely stuck to what they recognize
with right um change is a tough thing all of us don't like modification um so I think 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 understand certainly the advantages of having maintaining multiple checking account but there's a big amount of complexity opts for establishing a bank account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is big however I think the sincere response is modification um people haven't been able to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an element of resistance to change however we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what could almost be figured out to be the next Century or two there is a lot to monitor and this technique does pose a number of challenges um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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