Find out more about Papaya Global 45 ... 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 obtained a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and trustworthy approach of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Employee Portal
Workers have access to a Worker Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to worldwide workers no matter the number of staff members in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source regional benefits service providers in every nation, develop regional accounts and have a minimum number of staff members.
The HR capabilities supplied by International HR include numerous functions such as keeping track of holiday time, ensuring compliance, assisting in the process of welcoming new employees and bidding goodbye to departing ones, providing a protected online platform for storing workers' documents, and providing assistance for work allow procedures in case your workers need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall employment costs distributed per place, total work costs per cycle and far more.
environments across the globe I supplied management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across the business managing and building external relationships supporting Enterprise customers and options as well as acting as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We focus on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a satisfaction to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually type of had a range of various functions on the supplier side and also on the supplier side from a payroll perspective so really anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone comes 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 drizzling here it's really very uninspiring and I wish I was somewhere else at this moment in time alright so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies maintain separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic possession uh we'll also review a wrap-up and that needs to leave his time at the extremely very 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 Worldwide workforces end up being increasingly more common and handling them becomes more and more complex International organizations are wanting to discover Solutions and brand-new ways to enhance processes particularly from a payroll and cross-border payment standpoint numerous companies preserve different bank account just for payroll while some have multiple accounts in various countries does it make good sense for companies to maintain different bank accounts in some cases in different countries it does but just for payroll is there a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international business improve the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for organizations running internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to optimize working capital, and discover how simplifying worldwide payroll payments can change them from a burdensome task into a strategic property.
Handling payroll worldwide is an overwhelming job due to various regulations, compliance requirements, data security concerns, and banking guidelines. The sheer number of workers and services adds to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual processes, data silos, and an absence of combination, leading to disparities and inadequacies. In spite of living in an age of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to offer insights and solutions to streamline 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 businesses state they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more a company spends on international payroll the less of a photo they see an absence of visibility also extends to payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the deal almost half of worldwide companies have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors inadequately communicated hires and terminations as well as absence management and system setups and then when you round all of it off and the information is delivered to the incorrect location the typical expense 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 all over the world payroll and payments don't run smoothly if they count on the necessary numerous procedures 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 obstacles organization face when they're paying to staff members or otherwise that's a great question I constantly toss this back and state what is it what doesn't need to be consisted of ideal and what does
it need to be thought of 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 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 client's own in-country account so there's complexity anywhere you look best ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble incredibly payments no if but some infants 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 think there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to type of progress with that it also as well to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is absolutely essential that payroll and financing groups work better together than ever um I'm always amazed when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals any place they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on wellness and the settlement landscape is ending up being increasingly elaborate. Services are constantly introducing new benefits and payment alternatives, which adds to the overall intricacy. Large corporations often divide their payroll and payment processing into different groups, which can result in ineffectiveness and traffic jams. In my viewpoint, this does not have to be the case. In today's technically innovative age, there's no reason for maintaining cumbersome procedures. Payroll, the company's biggest expenditure, must be processed properly and on time. Even minor delays can negatively affect staff members' well-being and have significant effects. For that reason, it's crucial to focus on accurate and prompt payments.
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just observe when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's viewed externally also. Therefore, it is vital to make sure that tasks like Wi-Fi Global and other vital matters are done properly. Utilizing the first Worldwide Payments first payroll payment service is a terrific preliminary step towards offering a thorough payroll service for staff members worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and bank accounts necessary for international payroll are key factors in achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things do not go as prepared. Ultimately, we don't do it for the appreciation.
anyhow we know how how essential 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 simple as possible for everybody that's associated with those processes and also so imagine sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job trying to clean up all those up for sure oh definitely 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 type of shot to get back to everybody so carrying on appearance why do companies pick to primary different savings account there are companies out there doing exactly this for particular nations and I have actually operated in a business or numerous services doing precisely that I can say it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not creating additional work for anyone where we don't have to and anyone that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I think people have actually got so utilized to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires altering but ultimately people are very stuck with what they recognize
with ideal um change is a difficult thing all of us do not like change um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having keeping several savings account but there's a huge amount of complexity goes with establishing a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity is substantial however I think the sincere response is change um people haven't been able to change or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you've 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 reason 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 so there is a lot to monitor and this technique does present numerous difficulties um so Johnny might you inform us about those challenges 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you are worthy of a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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