Find out more about Papaya Global Brunei ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and secure and reliable technique of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Worker Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and employment documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive advantages bundles to global workers regardless of the number of workers in the business. The business can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the need to source local advantages companies in every country, create regional accounts and have a minimum variety of staff members.
The HR abilities provided by Worldwide HR incorporate various functions such as keeping track of trip time, guaranteeing compliance, facilitating the process of welcoming new employees and bidding goodbye to leaving ones, providing a safe online platform for keeping workers' files, and providing assistance for work permit procedures in case your employees need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall employment costs dispersed per area, total employment expenses per cycle and a lot more.
environments around the world I provided management and method 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 throughout business handling and structure external relationships supporting Business customers and options along with functioning as a consultant for those of you that don't know who papaya International is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent companies worldwide we provide payroll payments and workforce management to all worker enters over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent night depending on where you are in the world it's beautiful to meet 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've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of different roles on the supplier side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everybody another couple of uh well among 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 fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very very dreary and I wish I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies keep different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll also go over a wrap-up and that should leave his time at the really really end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of common and handling them becomes more and more intricate Worldwide organizations are seeking to discover Solutions and brand-new methods to simplify processes particularly from a payroll and cross-border payment viewpoint numerous companies maintain different bank account just for payroll while some have several accounts in different countries does it make sense for business to maintain different checking account in some cases in different countries it does however just for payroll exists a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational business enhance the episode complex processes of
Guaranteeing accurate, effective, and timely payroll payments is a complex obstacle for organizations running internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to optimize working capital, and discover how enhancing worldwide payroll payments can transform them from a troublesome job into a tactical asset.
Managing payroll globally is a complicated job due to numerous regulations, compliance requirements, data security issues, and banking guidelines. The large number of employees and services adds to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems frequently result in manual processes, data silos, and a lack of combination, causing inconsistencies and inadequacies. In spite of living in an era of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to provide insights and solutions to simplify and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more a service invests in international payroll the less of a photo they see a lack of presence likewise reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of global companies have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations along with absence management and system configurations and then when you round it all off and the data is shipped to the incorrect location the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they depend on the required several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges company face when they're making payments to employees or otherwise that's a good concern I constantly throw this back and say what is it what doesn't need to be included ideal and what does
it need 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 amount of time there's payment capabilities 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 complexity wherever you look ideal eventually building a knowledge base is absolutely crucial but all over 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 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 definitely fundamental and innovation is allowing us to sort of move forward with that it also also to contribute to that payroll and finance need to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely crucial that payroll and financing teams work better together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession 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 frequently 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 individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on wellness and the settlement landscape is becoming increasingly complex. Businesses are constantly introducing brand-new advantages and payment choices, which contributes to the total complexity. Big corporations frequently divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my viewpoint, this doesn't have to hold true. In today's highly innovative era, there's no validation for maintaining troublesome treatments. Payroll, the company's most significant expense, need to be processed correctly and on time. Even small hold-ups can negatively affect employees' wellness and have significant effects. For that reason, it's critical to focus on precise and prompt payments.
The payroll group may not have 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 important cycle, and individuals just discover when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally as well. Therefore, it is important to guarantee that jobs like Wi-Fi Global and other vital matters are done correctly. Using the first Worldwide Payments very first payroll payment service is an excellent initial step towards supplying a thorough payroll service for workers worldwide. Standardization, international procedures, and reducing the number of tools, platforms, and savings account needed for international payroll are essential consider accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things do not go as prepared. Eventually, we do not do it for the appreciation.
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 involved in those processes and also so think of sorry I'm just I was just gon na say picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions think of getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and in fact see what was going on and type of shot to return to everyone so proceeding look why do companies choose to primary separate savings account there are organizations out there doing exactly this for particular countries and I've worked in a business or lots of organizations doing exactly that I can say it doesn't constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not creating additional work for anybody where we don't have to and anyone that's dealing with 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 think lots of reasons one is it's the requirement I think individuals have got so utilized to we need a new savings 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 think it's just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I think this is a procedure that requires looking at it needs altering but eventually people are very stuck with what they recognize
with right um modification is a difficult thing we all do not like modification 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 things um I comprehend certainly the benefits of having maintaining multiple checking account however there's a huge quantity of intricacy goes with setting up a bank account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific people so the complexity is substantial however I believe the sincere response is change um individuals haven't been able to change or haven't had always the understanding to truly make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is a component of resistance to alter however we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be determined to be the next Century or so there is a lot to keep an eye on and this method does present a number of difficulties um so Johnny might you tell us about those difficulties yeah naturally 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 Worldwide workers you deserve a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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