Find out more about Papaya Global Hr Software For Budget-friendly Employee Efficiency ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and dependable technique of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app enhances my payroll process, saving me a substantial quantity of time each month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Staff member Portal supplies employees with the ability to access and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to worldwide employees no matter the variety of employees in the business. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source regional benefits providers in every country, develop regional accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment expenses dispersed per location, overall employment costs per cycle and far more.
environments around the world I provided management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business handling and building external relationships supporting Enterprise clients and options as well as functioning as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce 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 pleasure to satisfy you and thank you for your valuable 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 market, I have actually focused on payroll and payment services for the past seven years. The intricacies and difficulties of this field have always mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of various roles on the provider side and also on the vendor side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone comes from and I truly do hope it's much sunnier than it remains 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 very extremely bleak and I want I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why business maintain separate
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is particularly useful for international organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in various nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will likewise supply 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 organizations operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how companies forecast payroll costs to enhance working capital, and discover how streamlining worldwide payroll payments can transform them from a challenging job into a strategic possession.
Managing payroll worldwide is a daunting task due to various guidelines, compliance requirements, information security issues, and banking guidelines. The large variety of staff members and companies contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and an absence of integration, leading to inconsistencies and inefficiencies. In spite of living in an age of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to supply insights and services to simplify and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that gives me sleepless nights and rather frankly the more a service spends on international payroll the less of an image they see an absence of exposure likewise extends to payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide companies have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors poorly interacted hires and terminations along with absence management and system setups and after that when you round everything off and the information is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they depend on the needed several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they're paying to staff members or otherwise that's an excellent concern I always throw this back and say what is it what doesn't require to be included 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 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 need to pay from the consumer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they resemble very 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 think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is allowing us to kind of progress with that it likewise also to add to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely important that payroll and finance groups work better together than ever um I'm constantly impressed when individuals say 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 divide the payroll payment from computation 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 anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on well-being and the settlement landscape is becoming progressively intricate. Services are constantly presenting new advantages and payment options, which adds to the total complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can result in inadequacies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technologically sophisticated era, there's no reason for maintaining troublesome treatments. Payroll, the company's greatest cost, should be processed correctly and on time. Even small delays can negatively affect employees' wellness and have significant effects. Therefore, it's crucial to focus on precise and prompt payments.
payroll group get um so I'm not exactly sure anyone on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the very first Global Payments very first payroll payment solution is a fantastic primary step um supplying an end-to-end payroll option for your workers internationally once again I believe is another substantial um process once again aligning and guaranteeing you have standardization International processes all of those things are definitely key to success success of organizations and lowering the number of tools platforms and savings account they need for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyhow we understand how how important 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 easy as possible for everyone that's involved in those procedures and likewise so picture sorry I'm just I was just gon na say envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions think of getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying to clean 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 require days of the week to attempt to look through them and really see what was going on and type of try to get back to everyone so carrying on appearance why do companies select to primary different checking account there are companies out there doing precisely this for particular countries and I've worked in a business or many organizations doing precisely that I can state it does not constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not producing extra work for anybody where we do not have to and anybody 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 believe numerous factors one is it's the requirement I think individuals have actually got so used to we need a new bank account we open an entity and appropriately so you need 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 adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I believe this is a process that needs taking a look at it needs changing however ultimately people are very stuck with what they recognize
with right um modification is a challenging thing we all don't like modification um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having maintaining several bank accounts but there's a big amount of complexity opts for setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for individual people so the complexity is substantial but I believe the truthful answer is modification um individuals have not been able to change or haven't had always the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to keep track of and this method does pose several challenges um so Johnny could you tell us about those obstacles yeah obviously 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 handle our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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