Find out more about Papaya Global Demo ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and trustworthy method of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll procedure, saving me a substantial amount of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Staff member Website provides workers with the capability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to international workers despite the number of employees in the business. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local benefits companies in every country, create regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall work expenses dispersed per location, overall employment expenses per cycle and much more.
environments around the world I supplied management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work across the business handling and structure external relationships supporting Enterprise clients and options along with acting as an advisor for those of you that don't understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for many prominent business worldwide we supply payroll payments and workforce management to all employee key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent evening depending on where you are in the world it's beautiful to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of various functions on the supplier side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds approximately 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 interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes 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 extremely really dreary and I wish I was elsewhere 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 managing Global payroll why business keep separate
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of maintaining different savings account for payroll in different nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex obstacle for businesses operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to enhance working capital, and find how simplifying global payroll payments can transform them from a burdensome job into a tactical property.
Handling payroll internationally is a daunting task due to various policies, compliance requirements, information security concerns, and banking guidelines. The sheer variety of workers and organizations contributes to the intricacy, with an estimated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically result in manual processes, data silos, and a lack of integration, leading to inconsistencies and inadequacies. In spite of residing in a period of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to offer insights and options to streamline and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on international payroll the less of a picture they see an absence of exposure also extends to payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal almost half of worldwide organizations have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors badly interacted hires and terminations as well as lack management and system setups and after that when you round all of it off and the data is shipped to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run efficiently if they rely on the required numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges organization face when they're making payments to staff members or otherwise that's a great concern I constantly toss this back and say what is it what does not require 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 timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy any place you look right eventually building a knowledge base is definitely important but all over you look with payroll payment they are like very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in 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 innovation is enabling us to sort of move forward with that it also also to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely important that payroll and financing teams work closer together than ever um I'm always astonished when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of important to add to kind of the level of complexity there's a growing number of advantages being organ or being provided by organizations throughout the world so once again you're simply seeking to add a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine challenges or genuine tough sort of pay uses to play to pay people I think yeah I imply over the last well yeah a number of decades I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding info into the next function as it were that's in fact managing the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to produce extra handoffs at the same times that we run in they just make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and a period that you know that we are working in today there is no reason we are still making this as difficult as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any company has from a cost viewpoint from an impact perspective on workers it is absolutely vital that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive result on people's well-being and numerous other elements if people aren't paid uh I have actually always been amazed entering into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific 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 hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think 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 definitely important that all of this stuff is done correctly so leveraging the first International Payments very first payroll payment solution is a great primary step um providing an end-to-end payroll option for your workers internationally once again I believe is another substantial um process again aligning and ensuring you have standardization International procedures all of those things are definitely essential to success success of organizations and decreasing the variety of tools platforms and checking account they require for their Global payroll too couldn't 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 thousand of them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone rather where they're suggested to be um I don't think any of us are in fact doing that for for the thanks
anyhow we understand how how crucial a function 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 procedures and likewise so envision sorry I'm just I was just gon na state think of 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 speaking about numerous thousands potentially Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task trying to clean up all those up for sure oh absolutely 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 check out them and in fact see what was going on and sort of shot to return to everybody so carrying on look why do business pick to main different checking account there are businesses out there doing exactly this for particular countries and I've operated in a service or many companies doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for any person where we don't need to and anybody that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the standard I think individuals have actually got so used to we require a brand-new checking account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I believe this is a procedure that requires taking a look at it requires altering however eventually people are very stuck to what they recognize
with right um modification is a tough thing all of us do not like change um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having maintaining several savings account however there's a big amount of intricacy goes with setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is big but I think the truthful response is change um individuals haven't been able to alter or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to keep an eye on and this method does present a number of difficulties um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your achievements.
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