Find out more about Leveraging Papaya Global Hr Software For Cost Savings ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and trusted technique of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Employee Portal
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work documents. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to worldwide staff members no matter the number of employees in the company. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source local benefits providers in every nation, produce regional accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, total employment expenses dispersed per area, overall employment expenses per cycle and a lot more.
environments around the world I provided management and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business handling and building external relationships supporting Enterprise clients and options along with serving as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a satisfaction to meet you and thank you for your important 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 concentrated on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have always captivated me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually type of had a range of various functions on the company side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer 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 rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very very uninspiring and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya International payroll payments as a strategic property uh we'll likewise discuss a wrap-up which must leave his time at the really 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 a growing number of typical and handling them becomes more and more complicated Worldwide organizations are aiming to discover Solutions and brand-new methods to enhance processes especially from a payroll and cross-border payment viewpoint many companies maintain separate bank account just for payroll while some have numerous accounts in different nations does it make good sense for companies to maintain separate checking account often in various nations it does however just for payroll exists a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies streamline the episode complex processes of
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for services operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll costs to enhance working capital, and discover how improving worldwide payroll payments can transform them from a burdensome task into a strategic property.
Managing payroll worldwide is a difficult task due to different regulations, compliance requirements, data security concerns, and banking guidelines. The large number of workers and services adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and a lack of integration, causing disparities and ineffectiveness. Despite living in an era of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to supply insights and services to streamline and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a business invests in worldwide payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction nearly half of global organizations have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes inadequately interacted hires and terminations as well as absence management and system configurations and after that when you round all of it off and the data is shipped to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they count on the required several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're making payments to staff members or otherwise that's a good question I always toss this back and state what is it what does not need to be consisted of ideal and what does
it need to be considered there's differing 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 have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is absolutely vital but all over you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is allowing 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 varying Savings account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work closer together than ever um I'm constantly surprised when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on wellness and the payment landscape is ending up being significantly intricate. Services are continually presenting brand-new advantages and payment choices, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into separate groups, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technically innovative era, there's no reason for maintaining troublesome procedures. Payroll, the company's most significant expenditure, must be processed properly and on time. Even minor delays can adversely impact employees' wellness and have significant consequences. Therefore, it's crucial to focus on precise and prompt payments.
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people just observe when things fail. Nevertheless, when things go right, it's seen as just a routine task. This is how it's perceived externally too. Therefore, it is necessary to make sure that jobs like Wi-Fi Global and other essential matters are done correctly. Using the very first International Payments first payroll payment solution is an excellent initial step towards providing a thorough payroll service for staff members worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and bank accounts required for global payroll are key consider achieving business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyhow we understand how how important 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 procedures and also so imagine sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing job attempting to clean up 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 attempt to look through them and really see what was going on and kind of shot to get back to everyone so proceeding appearance why do companies select to primary separate checking account there are businesses out there doing precisely this for specific countries and I have actually operated in a service or numerous services doing precisely that I can state it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for any person where we don't have to and any person that's handling that procedure 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 many factors one is it's the requirement I believe individuals have actually got so used to we require a new bank 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 believe it's simply been the requirement and the norm individuals have adopted and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and many other methods um to to type of do it so I think there's a variety I believe this is a process that requires looking at it needs changing but ultimately people are very stuck to what they recognize
with right um modification is a challenging thing all of us do not like modification um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having keeping multiple checking account but there's a big quantity of intricacy chooses setting up a savings account keeping it ensuring it can send out International transfers ensuring it's set up with the best user accesses for private individuals so the complexity is substantial however I think the truthful response is change um people have not had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I think it is understanding you know and there is a component of resistance to alter but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to track and this technique does present several obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I just 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 seems like our CFO has gained another CFO, and with this enhanced capability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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