Find out more about Improve Hr Efficiency On A Budget With Papaya Global ... We now have the capability to handle 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 handling payments. This provides us with a protected and reliable approach of making payments to our 10,000 employees worldwide.}
The cutting-edge international payroll management app enhances my payroll procedure, saving 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 professionals.
Employee Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive benefits packages to global staff members no matter the number of workers in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source local benefits providers in every country, develop regional accounts and have a minimum variety of staff members.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall employment costs distributed per location, total employment expenses per cycle and far more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark said I work across the business handling and building external relationships supporting Enterprise customers and options in addition to acting as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for most prominent business worldwide we provide payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say 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 good evening depending upon where you remain in the world it's lovely 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 have actually remained in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the trouble in all of the above of
payroll payments and chose 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 various roles on the supplier side and also on the supplier side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite interesting 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 everybody originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really dreary and I want I was elsewhere at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate savings account for payroll in various countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of reasons most significantly guidelines compliance information security and banking guidelines then there are the large numbers they include further intricacy the international Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll model there's frequently a frustrating number of various systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in big quantities and or very extremely standard there's no genuine consistency framework we're living in a period of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind every time I I think
about it to give you a concept 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 gives me sleep deprived nights and rather honestly the more a service invests in global payroll the less of a picture they see an absence of presence likewise reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of worldwide companies have actually revealed that they do not 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 interacted hires and terminations along with lack management and system setups and after that when you round it all off and the information is delivered to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they rely on the required 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 difficulties service face when they're making payments to staff members or otherwise that's a good question I always throw this back and say what is it what does not require to be included ideal and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities 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 intricacy anywhere you look best eventually building a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble very payments no if but some children 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is allowing us to sort of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is absolutely important that payroll and finance teams work better together than ever um I'm constantly surprised when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on well-being and the payment landscape is ending up being progressively complex. Services are constantly introducing brand-new advantages and payment alternatives, which adds to the total intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's technologically innovative era, there's no validation for keeping troublesome treatments. Payroll, the company's biggest expense, must be processed correctly and on time. Even small delays can adversely affect workers' wellness and have far-reaching repercussions. Therefore, it's vital to prioritize accurate and timely payments.
payroll group get um so I'm not sure anybody on this kind of webinar has actually been informed 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 workers or not um however ultimately payroll is such an essential cycle we all find out about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I think 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 things is absolutely vital that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment option is a fantastic first step um supplying an end-to-end payroll option for your employees worldwide again I believe is another huge um procedure again aligning and ensuring you have standardization Global procedures all of those things are definitely essential to success success of companies and minimizing the variety 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 have actually never had a hundred countless 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 grievances where things haven't gone rather where they're indicated to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we know 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 everyone that's associated with those procedures and likewise so picture sorry I'm just I was just gon na state picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions think of getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing job attempting to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and type of shot to return to everyone so proceeding look why do business pick to main different checking account there are services out there doing exactly this for particular nations and I have actually operated in an organization or lots of businesses doing precisely that I can state it doesn't constantly feel effective and it does create more work I know we're not deliberately doing that we're not developing additional work for anyone where we don't need 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 amount that we are I believe numerous reasons one is it's the standard I think individuals have got so utilized to we need a brand-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 think it's just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a process that requires taking a look at it needs changing but eventually individuals are really stuck to what they're familiar
with best um modification is a difficult thing all of us do not like change um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having preserving multiple savings account however there's a big amount of complexity goes with setting up a bank account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private people so the intricacy is big however I think the honest response is modification um people haven't been able to alter or have not had always the knowledge to truly make that change into alternate Solutions besides opening a checking account I think 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 but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could almost be identified to be the next Century or two there is a lot to monitor and this technique does posture a number of challenges um so Johnny might you inform us about those challenges yeah of course so there's a variety 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 tasks on one platform. It seems like our CFO has gained another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your accomplishments.
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