Find out more about Papaya Global French Guiana ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a protected and trusted approach of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app improves my payroll process, conserving me a substantial quantity of time each month. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Worker Website provides workers with the ability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global assists business use competitive advantages plans to international staff members despite the variety of workers in the company. The business can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source regional advantages providers in every nation, create regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, overall employment costs distributed per place, overall work expenses per cycle and far more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work across the business managing and structure external relationships supporting Enterprise clients and options in addition to acting as an advisor for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As an international business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We focus on providing payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a satisfaction to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've type of had a variety of different roles on the supplier side and also on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very very uninspiring and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical asset uh we'll also review a wrap-up which must leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more typical and handling them becomes more and more complex Worldwide companies are seeking to discover Solutions and new ways to simplify processes particularly from a payroll and cross-border payment standpoint numerous companies maintain different checking account just for payroll while some have multiple accounts in different countries does it make good sense for business to preserve different checking account sometimes in different countries it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational companies streamline the episode complex procedures of
Making sure accurate, effective, and timely payroll payments is a complex challenge for companies running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, learn how companies forecast payroll expenses to optimize working capital, and find how improving global payroll payments can change them from a troublesome job into a strategic asset.
Managing payroll worldwide is a difficult job due to numerous policies, compliance requirements, data security issues, and banking guidelines. The large variety of staff members and services adds to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems typically result in manual processes, information silos, and a lack of integration, causing disparities and ineffectiveness. In spite of living in a period of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to offer insights and solutions to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force data in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization invests in worldwide payroll the less of an image they see a lack of presence likewise extends to payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide businesses have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes badly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the information is delivered to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they depend on the required numerous procedures 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 obstacles organization face when they're paying to workers or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be included best and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 consumer's own in-country account so there's intricacy any place you look best eventually constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to sort of move forward with that it also also to add to that payroll and finance need to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely imperative that payroll and financing teams work more detailed together than ever um I'm constantly impressed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry 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 data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on wellness and the payment landscape is ending up being progressively elaborate. Services are continually presenting brand-new advantages and payment choices, which contributes to the overall complexity. Big corporations frequently divide their payroll and payment processing into different teams, which can result in inefficiencies and traffic jams. In my viewpoint, this does not have to be the case. In today's technically innovative period, there's no validation for preserving troublesome treatments. Payroll, the business's greatest expense, need to be processed properly and on time. Even minor hold-ups can negatively impact staff members' wellness and have significant consequences. For that reason, it's critical to prioritize precise and prompt payments.
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only see when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's perceived externally also. Therefore, it is important to ensure that jobs like Wi-Fi International and other important matters are done correctly. Utilizing the very first Global Payments first payroll payment solution is an excellent preliminary action towards supplying a detailed payroll solution for employees worldwide. Standardization, global processes, and lowering the number of tools, platforms, and savings account needed for international payroll are key consider accomplishing organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things don't go as planned. Eventually, we don't do it for the appreciation.
anyhow we understand how how crucial 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 simple as possible for everybody that's associated with those processes and likewise so envision sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job trying 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 need days of the week to attempt to look through them and actually see what was going on and kind of try to return to everybody so moving on appearance why do companies select to main separate checking account there are companies out there doing precisely this for particular nations and I've operated in a service or lots of businesses doing precisely that I can say it does not constantly feel efficient and it does create more work I know we're not purposely doing that we're not producing extra work for anyone where we do not have to and anybody that's handling 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 quantity that we are I think numerous reasons one is it's the standard I believe people have got so utilized to we require a brand-new bank account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other ways um to to type of do it so I believe there's a range I think this is a process that requires looking at it requires changing however eventually people are very stuck with what they recognize
with best um modification is a difficult thing all of us don't like modification um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having preserving several savings account however there's a big quantity of complexity goes with establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for individual people so the intricacy is big however I believe the sincere answer is change um people haven't been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might practically be identified to be the next Century or two there is a lot to monitor and this approach does posture several obstacles um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I just did you changed our Business 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 Worldwide workers you should have a corner office with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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