Find out more about Papaya Global Austin ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a safe and secure and dependable method of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Employee Website offers staff members with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps business use competitive advantages bundles to global staff members no matter the number of staff members in the company. The business can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the need to source regional advantages providers in every country, create local accounts and have a minimum number of employees.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall employment costs distributed per place, total work expenses per cycle and far more.
environments across the globe I offered management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business managing and structure external relationships supporting Business clients and solutions in addition to serving as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a global business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 countries. 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 area. It's a satisfaction to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated 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 chose to type of make a genuine go at that over the last five or six years where I've type of had a range of different functions on the company side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everyone another couple 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 interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it remains 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 extremely very gloomy and I wish I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies preserve separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya Global payroll payments as a strategic property uh we'll likewise review a wrap-up and that must leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of common and handling them becomes a growing number of complex Worldwide companies are seeking to discover Solutions and new ways to enhance processes particularly from a payroll and cross-border payment standpoint lots of organizations keep different checking account just for payroll while some have numerous accounts in different countries does it make sense for companies to keep different bank accounts in some cases in different nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets also called virtual wallets play in helping multinational business streamline the episode complex processes of
Making sure precise, effective, and timely payroll payments is a complex obstacle for services running internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, find out how business anticipate payroll costs to enhance working capital, and discover how improving international payroll payments can transform them from a difficult task into a tactical possession.
Handling payroll worldwide is a difficult job due to numerous guidelines, compliance requirements, information security issues, and banking guidelines. The sheer variety of employees and services adds to the complexity, with an approximated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems often result in manual processes, information silos, and a lack of integration, causing disparities and inadequacies. Regardless of residing in an age of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to supply insights and services to simplify and enhance worldwide payroll payments.
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 data in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization spends on global payroll the less of a picture they see an absence of visibility also reaches payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide organizations have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes improperly communicated hires and terminations as well as lack management and system setups and then when you round everything off and the data is shipped to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they depend on the essential multiple processes 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 challenges business face when they're making payments to employees or otherwise that's an excellent question I constantly throw this back and state what is it what doesn't require to be included best and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment capabilities 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 client's own in-country account so there's complexity any place you look best ultimately developing a knowledge base is definitely crucial but all over you look with payroll payment they are like super payments no if however 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 acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to sort of move forward with that it likewise too to add to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and financing groups work better together than ever um I'm constantly amazed when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation 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 information 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 modern-day world positions a high value on wellness and the settlement landscape is becoming increasingly detailed. Organizations are constantly introducing new advantages and payment alternatives, which contributes to the general intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and bottlenecks. In my opinion, this does not have to be the case. In today's highly advanced era, there's no validation for preserving troublesome procedures. Payroll, the business's most significant cost, must be processed properly and on time. Even small delays can negatively impact workers' well-being and have significant repercussions. Therefore, it's crucial to focus on 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 correctly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle we all find out about it when it goes wrong everybody jumps up and down when it fails however 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 crucial that all of this things is done properly so leveraging the first Worldwide Payments very first payroll payment solution is a great initial step um providing an end-to-end payroll solution for your staff members globally once again I think is another big um procedure once again aligning and guaranteeing you have standardization International procedures all of those things are definitely key to success success of businesses and decreasing the number of tools platforms and checking 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've never had a hundred thousand of them within a payroll cycle don't expect 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 quite where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand how how essential 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 easy as possible for everybody that's involved in those procedures and also so picture sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating job trying to clean up 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 need days of the week to try to browse them and in fact see what was going on and kind of try to get back to everyone so proceeding appearance why do business choose to main different savings account there are services out there doing exactly this for specific countries and I have actually worked in a business or numerous companies doing exactly that I can state it does not constantly feel efficient and it does produce more work I understand we're not intentionally 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 ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I think people have got so used to we need a new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and many other methods um to to type of do it so I think there's a range I believe this is a process that needs looking at it needs changing however ultimately people are very stuck to what they're familiar
with ideal um change is a difficult thing we all do not like modification um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having keeping numerous savings account however there's a big quantity of intricacy chooses establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's established with the right user accesses for specific people so the complexity is substantial however I think the honest response is modification um individuals haven't been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might practically be determined 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 might you inform us about those challenges yeah obviously so there's a variety right there is so
I simply did you switched our Enterprise 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 International workers you are worthy of a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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