Find out more about Papaya Global Aruba ... 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 obtained a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a secure and reliable technique of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Employee Portal provides employees with the ability to access and view important 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 companies use competitive benefits bundles to worldwide workers regardless of the variety of staff members in the company. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source local advantages companies in every nation, produce local accounts and have a minimum number of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total work expenses distributed per location, total employment costs per cycle and much more.
environments around the world I provided leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work across business handling and structure external relationships supporting Enterprise clients and options along with functioning as a consultant for those of you that do not understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for many prominent companies in the world we offer payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon good night depending upon where you remain in the world it's beautiful to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I have actually kind of had a range of different functions on the provider side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type 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 everybody comes from and I actually 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 extremely dreary and I wish I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical asset uh we'll likewise review a wrap-up and that must leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more common and handling them becomes a growing number of complex Global companies are looking to discover Solutions and brand-new ways to simplify procedures especially from a payroll and cross-border payment perspective many companies preserve different savings account just for payroll while some have several accounts in different nations does it make good sense for business to keep different bank accounts in some cases in different nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies streamline the episode complex procedures of
Making sure accurate, effective, and prompt payroll payments is a complex difficulty for companies operating internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how companies forecast payroll expenses to enhance working capital, and find how improving worldwide payroll payments can change them from a burdensome job into a tactical property.
Managing payroll globally is a difficult task due to various guidelines, compliance requirements, data security concerns, and banking rules. The sheer number of staff members and businesses contributes to the intricacy, 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 typically result in manual processes, data silos, and a lack of combination, leading to inconsistencies and inadequacies. In spite of living in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to offer insights and options to simplify and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force information in real time that's another number that offers me sleepless nights and quite frankly the more an organization spends on international payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of international services have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors inadequately interacted hires and terminations along with lack management and system setups and after that when you round it all off and the data is delivered to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they count on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're making payments to workers or otherwise that's an excellent concern I constantly throw this back and state what is it what doesn't need to be consisted of best and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 customer's own in-country account so there's intricacy wherever you look right eventually developing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to sort of progress with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm constantly amazed when people state I've split payroll and payment um if you walk down the street and asked anybody 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 eventually 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 third parties so with the
The contemporary world places a high worth on wellness and the settlement landscape is becoming progressively intricate. Services are constantly introducing new benefits and payment choices, which contributes to the total intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can cause inadequacies and bottlenecks. In my opinion, this doesn't need to be the case. In today's technologically innovative period, there's no justification for preserving cumbersome procedures. Payroll, the company's greatest cost, must be processed properly and on time. Even slight hold-ups can negatively affect workers' wellness and have far-reaching consequences. For that reason, it's important to prioritize precise and timely payments.
payroll team get um so I'm not sure anyone on this sort of webinar has 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 staff members or not um however ultimately payroll is such an important cycle all of us find out about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done properly so leveraging the very first International Payments first payroll payment service is an excellent first step um providing an end-to-end payroll service for your workers internationally once again I think is another substantial um process once again lining up and ensuring you have standardization Worldwide processes all of those things are definitely key to success success of organizations and reducing the number of tools platforms and savings account they need for their Worldwide 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 ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 easy as possible for everyone that's associated with those procedures and also so picture sorry I'm just I was just gon na say 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 talking about numerous thousands possibly Millions imagine 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 absolutely be a fascinating task trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and actually see what was going on and kind of try to return to everybody so carrying on look why do business choose to main different bank accounts there are businesses out there doing precisely this for particular nations and I have actually worked in a company or many services doing precisely that I can say it doesn't constantly feel effective and it does create more work I understand we're not deliberately doing that we're not developing additional work for any person where we don't have to and anyone that's dealing with that process 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 got so used to we need a brand-new checking account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to sort of do it so I think there's a variety I believe this is a procedure that requires looking at it requires altering however ultimately individuals are very stuck with what they recognize
with ideal um change is a difficult thing we all do not like modification um so I think it's just 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 obviously the advantages of having preserving multiple savings account however there's a huge quantity of intricacy opts for setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is substantial but I think the truthful answer is change um people haven't been able to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what might almost be identified to be the next Century approximately there is a lot to keep an eye on and this approach does position numerous difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a modification to our Business 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 gotten another CFO, and with this enhanced ability, I have actually successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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