Find out more about Papaya Global Hr Partners 45M ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and secure and reputable approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Worker Portal
Employees have access to a Worker Portal where they can see their pay slips, wage and tax statements and work files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive advantages bundles 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, oral and maternity leave while getting rid of the requirement to source local advantages providers in every nation, create local accounts and have a minimum variety of workers.
The HR abilities offered by Worldwide HR incorporate various functions such as monitoring getaway time, making sure compliance, assisting in the process of inviting brand-new employees and bidding farewell to leaving ones, providing a safe and secure online platform for keeping workers' files, and providing assistance for work allow treatments in case your staff members require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall employment costs dispersed per area, total work costs per cycle and far more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark said I work across business handling and building external relationships supporting Business customers and options as well as acting as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have always captivated me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I have actually sort of had a range of different functions on the supplier side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really really dreary and I want I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business keep different
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of preserving different checking account for payroll in various countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for businesses running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how companies forecast payroll costs to optimize working capital, and find how improving global payroll payments can change them from a troublesome task into a tactical asset.
Managing payroll globally is a difficult task due to various regulations, compliance requirements, information security concerns, and banking rules. The sheer variety of staff members and organizations contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual processes, data silos, and a lack of integration, causing disparities and ineffectiveness. Despite residing in an age of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to provide insights and services to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that offers me sleepless nights and rather honestly the more a company spends on international payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the deal nearly half of worldwide companies have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes poorly interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the information is shipped to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments don't run efficiently if they depend on the required 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 business face when they're making payments to employees or otherwise that's a good question I always toss this back and state what is it what does not require to be included ideal and what does
it need to be considered there's varying Bank details 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 need to pay from the customer's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 innovation is allowing us to kind of progress with that it also also to add to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely crucial that payroll and financing groups work more detailed together than ever um I'm constantly astonished when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation 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 often 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 people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on wellness and the settlement landscape is becoming increasingly elaborate. Organizations are constantly introducing brand-new benefits and payment options, which contributes to the overall intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and traffic jams. In my opinion, this doesn't need to hold true. In today's technically sophisticated age, there's no justification for keeping troublesome treatments. Payroll, the business's biggest expenditure, should be processed properly and on time. Even small delays can adversely affect staff members' well-being and have far-reaching effects. For that reason, it's crucial to prioritize precise and prompt payments.
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anyone has actually 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 people only see when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's viewed externally as well. For that reason, it is necessary to make sure that jobs like Wi-Fi Global and other important matters are done properly. Utilizing the first Worldwide Payments first payroll payment option is an excellent initial action towards providing a detailed payroll option for workers worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and bank accounts necessary for global payroll are essential consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyway we know how how crucial a role it is which'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 easy as possible for everyone that's involved in those processes and likewise so think of sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions envision getting that many thank you notes um I mean it 'd be interesting to see the number of 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 attempt to check out them and actually see what was going on and sort of try to get back to everybody so proceeding appearance why do companies pick to main different bank accounts there are services out there doing precisely this for specific countries and I have actually worked in a company or many businesses doing exactly that I can state it does not always feel effective and it does develop more work I know we're not intentionally doing that we're not developing extra work for anybody where we don't need to and anyone that's managing that procedure 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 believe numerous factors one is it's the requirement I think individuals have got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I think this is a process that requires taking a look at it requires altering but ultimately individuals are extremely stuck with what they recognize
with right um change is a difficult thing all of us don't like modification um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having keeping multiple checking account however there's a substantial amount of complexity chooses establishing a checking account keeping it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is big however I believe the truthful response is modification um individuals haven't been able to change or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could almost be determined to be the next Century or so there is a lot to monitor and this technique does position numerous challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you deserve a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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