Find out more about Papaya Global Group Crunchbase ... We now have the capability 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 particularly committed to handling payments. This provides us with a safe and dependable method of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and professionals
Worker Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The website is offered in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive benefits plans to global staff members no matter the number of staff members in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local advantages providers in every country, develop regional accounts and have a minimum number of staff members.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, total employment expenses distributed per location, total work costs per cycle and far more.
environments across the globe I provided management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout the business managing and building external relationships supporting Enterprise clients and services as well as serving as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for most prominent business worldwide we supply payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon great evening depending upon where you remain in the world it's beautiful to satisfy 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 have actually remained in the payments market for over ten years and specifically working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually sort of had a variety of different functions on the provider side and likewise on the vendor side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting 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 everybody originates from and I really 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 extremely extremely uninspiring and I want I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why business keep different
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate savings account for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex challenge for services operating worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies anticipate payroll costs to enhance working capital, and find how simplifying international payroll payments can change them from a troublesome job into a strategic possession.
Handling payroll worldwide is a daunting job due to numerous guidelines, compliance requirements, information security issues, and banking rules. The large number of workers and companies adds to the complexity, with an estimated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically result in manual processes, data silos, and a lack of combination, leading to disparities and inadequacies. Despite residing in a period of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to provide insights and solutions to streamline and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more a service invests in international payroll the less of a picture they see a lack of exposure likewise reaches payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of international services have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors inadequately interacted hires and terminations as well as lack management and system configurations and then when you round it all off and the information is delivered to the incorrect location the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they count on the necessary several 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 obstacles organization face when they're paying to workers or otherwise that's an excellent concern I constantly throw this back and say what is it what does not require to be consisted of ideal 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity wherever you look best eventually building a knowledge base is absolutely important but all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to sort of move on with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and financing teams work better together than ever um I'm constantly amazed when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from estimation 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 procedure it's the point of information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on wellness and the payment landscape is ending up being significantly elaborate. Businesses are constantly introducing brand-new advantages and payment alternatives, which adds to the overall complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can lead to inefficiencies and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technically advanced era, there's no reason for maintaining cumbersome treatments. Payroll, the business's most significant cost, should be processed properly and on time. Even minor hold-ups can negatively impact staff members' well-being and have far-reaching consequences. For that reason, it's crucial to focus on precise and timely payments.
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just discover when things fail. However, when things go right, it's seen as simply a routine task. This is how it's viewed externally as well. Therefore, it is necessary to ensure that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment solution is a great initial step towards providing an extensive payroll service for staff members worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and checking account required for international payroll are crucial factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things do not go as planned. Eventually, we don't do it for the appreciation.
anyhow we understand how how essential 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 everyone that's associated with those procedures and also so imagine sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and in fact see what was going on and sort of try to return to everyone so carrying on look why do business select to main separate bank accounts there are services out there doing precisely this for particular countries and I have actually operated in a business or lots of businesses doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not producing additional work for anybody where we don't need to and any person that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think numerous factors one is it's the requirement I believe people have got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other ways um to to kind of do it so I think there's a variety I think this is a process that requires looking at it needs changing but eventually individuals are very stuck to what they recognize
with ideal um modification is a hard thing all of us don't like modification um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having keeping numerous checking account but there's a big amount of complexity opts for establishing a savings account maintaining it ensuring it can send International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is substantial however I think the honest response is modification um individuals have not been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century approximately there is a lot to keep an eye on and this technique does position numerous obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a variety 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 Global staff members you are worthy of a corner office with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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