Find out more about Papaya Global Hr 100M Series ... 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 acquired a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a protected and dependable method of paying to our 10,000 workers worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, conserving me a significant quantity of time every month. With its easy to use interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
The Employee Website supplies employees with the ability to access and view important files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps companies offer competitive advantages packages to international workers regardless of the variety of staff members in the company. The company can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local benefits service providers in every nation, create regional accounts and have a minimum variety of workers.
The HR abilities provided by International HR include different functions such as monitoring vacation time, ensuring compliance, helping with the process of inviting brand-new employees and bidding farewell to departing ones, offering a safe and secure online platform for saving employees' files, and offering assistance for work allow treatments in case your staff members need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, overall employment costs dispersed per area, total employment costs per cycle and much more.
environments across the globe I offered management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business managing and structure external relationships supporting Business clients and options as well as serving as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a pleasure to fulfill 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 services for the past seven years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or six years where I have actually sort of had a variety of different functions on the supplier side and also on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to kind 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 sunlight is it it's not no it's it's raining here it's really extremely dreary and I want I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical possession uh we'll also discuss a recap which ought to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more typical and handling them ends up being a growing number of intricate Global organizations are seeking to find Solutions and new ways to improve processes particularly from a payroll and cross-border payment standpoint lots of companies keep different savings account just for payroll while some have several accounts in various nations does it make sense for companies to preserve separate checking account sometimes in different countries it does but just for payroll is there a much better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies streamline the episode complex processes of
Ensuring accurate, efficient, and prompt payroll payments is a complex challenge for organizations operating internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, discover how business anticipate payroll costs to enhance working capital, and discover how improving global payroll payments can transform them from a difficult task into a tactical property.
Managing payroll worldwide is a challenging job due to various regulations, compliance requirements, data security concerns, and banking guidelines. The sheer variety of employees and businesses adds to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems often lead to manual processes, data silos, and an absence of combination, causing inconsistencies and inadequacies. Despite living in an age of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to offer insights and services to streamline and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force data in real time that's another number that offers me sleepless nights and quite honestly the more a company invests in international payroll the less of an image they see a lack of exposure likewise reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide services have actually revealed 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 due to time reporting poor HCM data data entry errors poorly interacted hires and terminations as well as lack management and system setups and after that when you round all of it off and the information is shipped to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they count on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties service face when they're paying to workers or otherwise that's a good question I constantly toss this back and state what is it what does not need to be consisted of ideal and what does
it require to be considered there's differing 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 intricacy any place you look best ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they are like extremely payments no if but some children 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 essential and technology is enabling us to kind of move forward with that it also as well to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is absolutely necessary that payroll and financing groups work more detailed together than ever um I'm constantly amazed when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the payment landscape is becoming significantly intricate. Businesses are continually presenting brand-new advantages and payment alternatives, which contributes to the overall complexity. Large corporations typically divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my opinion, this doesn't need to be the case. In today's highly advanced period, there's no validation for maintaining troublesome treatments. Payroll, the company's greatest cost, need to be processed correctly and on time. Even small hold-ups can adversely impact workers' well-being and have far-reaching consequences. Therefore, it's crucial to prioritize precise and timely payments.
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only observe when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally as well. Therefore, it is vital to ensure that jobs like Wi-Fi Worldwide and other crucial matters are done correctly. Using the first Global Payments first payroll payment service is a fantastic preliminary action towards offering a detailed payroll option for workers worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and bank accounts necessary for worldwide payroll are crucial consider achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
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 everybody that's associated with those processes and likewise so think of sorry I'm just I was simply gon na say picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions think of getting that lots of 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 attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and in fact see what was going on and type of try to return to everyone so proceeding look why do companies choose to primary different checking account there are services out there doing exactly this for specific nations and I've worked in a business or many businesses doing precisely that I can state it does not always feel effective and it does produce more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not need to and anyone that's handling 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 quantity that we are I believe many factors one is it's the standard I believe people have got so utilized to we need a new checking account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years passed by to add to that individuals 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 believe this is a procedure that needs looking at it needs changing but ultimately individuals are very stuck with what they recognize
with right um modification is a tough thing we all do not like change um so I think it's just type of moving away 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 keeping numerous savings account but there's a substantial amount of complexity chooses establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private individuals so the complexity is substantial however I think the truthful response is modification um people have not had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think it is knowledge you understand and there is an element of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be identified to be the next Century or so there is a lot to monitor and this technique does posture a number of difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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