Find out more about Papaya Global Discount Codes ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and reputable technique of making payments to our 10,000 workers worldwide.}
The advanced worldwide payroll management app streamlines my payroll procedure, conserving me a considerable amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Employee Website offers workers with the capability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in various languages.
Advantages Administration
Papaya Global helps business offer competitive advantages packages to worldwide employees regardless of the number of workers in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source regional advantages service providers in every country, produce regional accounts and have a minimum number of employees.
The HR abilities supplied by Global HR include different functions such as monitoring trip time, guaranteeing compliance, assisting in the procedure of welcoming new employees and bidding farewell to departing ones, providing a safe online platform for saving employees' files, and providing assistance for work permit treatments in case your workers need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work costs dispersed per location, total work expenses per cycle and much more.
Worldwide, I have demonstrated management and strategic competence in assisting massive populations of over 100,000 employees across 170 nations. Presently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function includes handling and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
company to make the time 100 list for a lot of influential business in the world we supply payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon great night depending upon where you remain in the world it's lovely to meet 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 industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I have actually type of had a range of various roles on the service provider side and likewise on the vendor side from a payroll point of view so truly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite 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 really 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 drizzling here it's really very dreary and I want I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic possession uh we'll also review a recap which needs to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being a growing number of common and managing them becomes more and more complex Worldwide companies are wanting to discover Solutions and new ways to simplify processes especially from a payroll and cross-border payment viewpoint numerous organizations preserve separate checking account just for payroll while some have several accounts in different countries does it make sense for business to maintain different bank accounts often in different nations it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies improve the episode complex procedures of
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for organizations running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, find out how business forecast payroll costs to enhance working capital, and find how enhancing global payroll payments can change them from a burdensome job into a tactical asset.
Handling payroll internationally is a difficult task due to numerous policies, compliance requirements, information security issues, and banking rules. The sheer variety of workers and services contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual procedures, information silos, and an absence of integration, leading to disparities and ineffectiveness. Regardless of residing in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals 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 businesses say they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more a business spends on global payroll the less of a picture they see an absence of presence likewise encompasses payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global services have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes improperly communicated hires and terminations along with absence management and system setups and after that when you round all of it off and the data is delivered to the incorrect place the average cost 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 around the globe payroll and payments do not run smoothly if they count on the necessary several processes 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 company face when they're making payments to workers or otherwise that's a great concern I constantly throw this back and state what is it what doesn't require to be consisted of best and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 customer's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is absolutely important however everywhere you look with payroll payment they are like very payments no if however some children 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 enabling us to sort of progress with that it likewise as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely crucial that payroll and financing groups work closer together than ever um I'm constantly surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession 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 often 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 but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to add to sort of the level of complexity there's increasingly more advantages being organ or being provided by businesses throughout the world so once again you're simply aiming to add increasingly more payments to this already complex landscape so if you kind 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 difficulties or genuine challenging kind of pay uses to play to pay people I believe yeah I imply over the last well yeah a couple of years I would absolutely state that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to create extra handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they do not make them what they require to be in in a period of tech and an age that you know that we are working in today there is no reason that we are still making this as difficult as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any service has from an expense point of view from an impact point of view on employees it is definitely important 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 need to be done right it has the biggest harmful effect on individuals's wellness and many other aspects if people aren't paid uh I've constantly been impressed coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent 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 go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. Therefore, it is essential to make sure that jobs like Wi-Fi International and other important matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment solution is a terrific initial step towards supplying a comprehensive payroll option for employees worldwide. Standardization, worldwide processes, and lowering the variety of tools, platforms, and savings account essential for worldwide payroll are essential consider achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things don't go as prepared. Ultimately, we do not do it for the thankfulness.
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 simple as possible for everybody that's involved in those processes and likewise so think of sorry I'm simply I was just gon na state envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job attempting to clean up all those up for sure oh definitely 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 browse them and in fact see what was going on and type of shot to return to everyone so moving on look why do companies choose to primary separate checking account there are businesses out there doing precisely this for specific countries and I have actually worked in an organization or many businesses doing exactly that I can state it does not always feel efficient and it does create more work I understand we're not deliberately doing that we're not developing extra work for anybody where we don't need to and any person 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 quantity that we are I think many factors one is it's the requirement I believe individuals have got so utilized to we require a new savings account we open an entity and appropriately so you need it for payroll functions 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 individuals have actually embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it needs changing but ultimately individuals are really stuck with what they recognize
with right um change is a difficult thing all of us do not like change um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having preserving multiple checking account but there's a huge quantity of intricacy goes with setting up a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for individual people so the complexity is huge however I think the truthful answer is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might nearly be determined to be the next Century or so there is a lot to keep track of and this approach does posture a number of difficulties um so Johnny might 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 Enterprise 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 actually gained another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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