Find out more about Papaya Global Hr 40M Series 45M ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This provides us with a protected and reputable method of paying to our 10,000 workers worldwide.}
The innovative international payroll management app simplifies my payroll process, saving me a significant quantity of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Staff member Portal provides employees with the ability to gain access to 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 provided in various languages.
Advantages Administration
Papaya Global assists companies use competitive benefits bundles to global employees no matter the number of staff members in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source regional advantages providers in every nation, develop regional accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment costs distributed per location, overall work costs per cycle and a lot more.
environments across the globe I supplied leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business handling and structure external relationships supporting Business clients and solutions in addition to functioning as an advisor for those of you that do not know who papaya International is papaya is the first payroll and payments
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have actually always captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I've kind of had a variety of different functions on the supplier side and also on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody 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 all right so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business maintain different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical possession uh we'll also review a recap and that must leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces become increasingly more common and handling them ends up being a growing number of complex International companies are seeking to discover Solutions and brand-new ways to enhance processes particularly from a payroll and cross-border payment standpoint many companies preserve different checking account just for payroll while some have several accounts in various nations does it make sense for business to preserve separate bank accounts often in different nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies enhance the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how business forecast payroll expenses to optimize working capital, and discover how enhancing international payroll payments can change them from a troublesome job into a tactical property.
Handling payroll worldwide is an overwhelming task due to different policies, compliance requirements, information security concerns, and banking guidelines. The sheer variety of staff members and services adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often lead to manual processes, data silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. In spite of living in a period of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to offer insights and solutions to streamline and enhance international payroll payments.
about it to give you an idea 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 provides me sleepless nights and quite honestly the more an organization invests in worldwide payroll the less of a photo they see a lack of exposure also extends to payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide organizations have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes inadequately communicated hires and terminations as well as absence management and system configurations and then when you round everything off and the data is shipped to the incorrect place the typical expense 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 cash around the world payroll and payments do not run smoothly if they count on the required numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they're paying to employees or otherwise that's a great concern I constantly toss this back and say what is it what doesn't require to be included ideal and what does
it need to be thought about there's varying 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 anywhere you look best eventually constructing a knowledge base is absolutely critical but 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 between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to kind of move forward with that it likewise too to add to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely vital that payroll and finance groups work better together than ever um I'm always amazed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on well-being and the settlement landscape is ending up being increasingly complex. Businesses are continuously presenting brand-new benefits and payment choices, which adds to the overall intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my viewpoint, this does not have to be the case. In today's technically advanced age, there's no justification for keeping cumbersome procedures. Payroll, the business's biggest expense, need to be processed correctly and on time. Even minor hold-ups can adversely impact staff members' wellness and have far-reaching effects. For that reason, it's crucial to prioritize accurate and timely payments.
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just observe when things fail. Nevertheless, when things go right, it's seen as just a regular job. This is how it's viewed externally also. Therefore, it is essential to make sure that jobs like Wi-Fi Global and other crucial matters are done properly. Using the very first International Payments very first payroll payment service is a terrific initial step towards supplying an extensive payroll solution for staff members worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and checking account needed for international payroll are crucial consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things do not go as planned. Eventually, we do not do it for the appreciation.
anyway 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 involved in those processes and also so picture sorry I'm simply I was just gon na say picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and really see what was going on and kind of shot to get back to everybody so moving on appearance why do companies select to primary different checking account there are companies out there doing exactly this for specific countries and I have actually operated in a business or many services doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not have to and any person that's dealing with that procedure 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 lots of factors one is it's the standard I believe people have actually got so used to we need a brand-new checking 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 believe it's just been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I believe this is a procedure that needs taking a look at it needs altering but eventually individuals are really stuck with what they recognize
with best um change is a challenging thing we all do not like change um so I think it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having maintaining numerous bank accounts but there's a huge amount of intricacy chooses setting up a checking account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the complexity is big but I believe the honest response is change um individuals haven't been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could nearly be determined to be the next Century approximately there is a lot to track and this method does position several obstacles um so Johnny might you tell us about those difficulties yeah of course so there's a range 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 feels like our CFO has gained another CFO, and with this boosted capability, I have successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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