Find out more about Papaya Global Faeroe Islands ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and secure and trusted method of paying to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Worker Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and work files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages bundles to international staff members no matter the number of workers in the business. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local benefits providers in every nation, create local accounts and have a minimum variety of employees.
The HR abilities offered by Worldwide HR encompass numerous functions such as keeping an eye on vacation time, guaranteeing compliance, helping with the procedure of inviting brand-new workers and bidding farewell to leaving ones, using a safe online platform for storing employees' files, and supplying assistance for work allow procedures in case your workers require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall employment costs distributed per place, overall work expenses per cycle and far more.
environments around the world I supplied leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and building external relationships supporting Enterprise clients and services as well as functioning as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The complexities and difficulties of this field have actually constantly captivated me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've type of had a variety of various functions on the company side and likewise on the vendor side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really uninspiring and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business keep separate
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is particularly beneficial for international organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for organizations operating worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, discover how companies forecast payroll costs to optimize working capital, and discover how enhancing international payroll payments can transform them from a challenging task into a strategic possession.
Handling payroll worldwide is a complicated task due to different regulations, compliance requirements, data security issues, and banking rules. The large variety of employees and companies contributes to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and a lack of integration, leading to inconsistencies and inadequacies. Despite residing in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to provide insights and services 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 just 11 of services state they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization spends on worldwide payroll the less of an image they see an absence of visibility likewise reaches payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal almost half of international businesses have actually expressed that they don't have the level of standardization they require in their processes 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 in addition to lack management and system setups and then when you round it all off and the data is shipped to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they rely on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties company face when they're paying to employees or otherwise that's a good question I always throw this back and state what is it what doesn't require to be included best 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 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 complexity wherever you look best ultimately constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a 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 definitely fundamental and technology is allowing us to kind of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely vital that payroll and finance teams work more detailed together than ever um I'm always impressed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on wellness and the compensation landscape is becoming progressively intricate. Companies are constantly introducing new benefits and payment alternatives, which adds to the general intricacy. Big corporations often divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's highly innovative era, there's no reason for maintaining cumbersome procedures. Payroll, the company's biggest cost, must be processed properly and on time. Even slight hold-ups can negatively affect staff members' well-being and have significant effects. For that reason, it's vital to prioritize accurate and timely payments.
payroll group get um so I'm uncertain anyone on this type of webinar has been informed thank you for processing my payroll correctly 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 eventually payroll is such a crucial cycle we all hear about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this things is done properly so leveraging the very first International Payments very first payroll payment service is a fantastic initial step um providing an end-to-end payroll solution for your workers internationally again I believe is another substantial um process once again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of services and minimizing the variety of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand how how important a function 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 simple as possible for everybody that's associated with those processes and also so envision sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions think of getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and in fact see what was going on and sort of shot to get back to everybody so moving on look why do business pick to main separate checking account there are businesses out there doing precisely this for specific countries and I've worked in a service or many companies doing precisely that I can state it does not constantly feel effective and it does create more work I know we're not intentionally doing that we're not developing additional work for anybody where we do not have to and any person that's dealing with that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the requirement I think people have actually got so utilized to we require a new bank account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a range I think this is a process that requires looking at it requires changing but eventually people are very stuck to what they're familiar
with right um modification is a challenging thing we all do not like change um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having preserving several bank accounts however there's a substantial quantity of intricacy chooses setting up a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for private people so the intricacy is huge but I believe the honest response is modification um people have not been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could nearly be determined to be the next Century or two there is a lot to track and this technique does pose numerous challenges um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you are worthy of a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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