Find out more about Papaya Global Hr Software For Government Agencies ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and dependable method of paying to our 10,000 employees worldwide.}
The advanced worldwide payroll management app simplifies my payroll process, conserving me a significant quantity of time each month. With its easy to use user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
Staff member Website
Staff members have access to a Worker Website where they can see their pay slips, wage and tax statements and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to worldwide staff members no matter the variety of staff members in the business. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source regional advantages suppliers in every nation, create local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall employment expenses dispersed per area, total employment expenses per cycle and far more.
environments across the globe I provided management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business handling and building external relationships supporting Business clients and options as well as acting as an advisor for those of you that don't understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential companies worldwide we offer payroll payments and labor force management to all staff member enters over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good evening depending on where you remain in the world it's charming to satisfy you and thank you quite 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 industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of various functions on the provider side and also on the supplier side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just offer 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 type of let them do that so it 'd be rather fascinating 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 everyone originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very really bleak and I want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies preserve different
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is especially useful for international organizations with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of preserving different checking account for payroll in various nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex obstacle for companies operating worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how business anticipate payroll expenses to enhance working capital, and discover how simplifying global payroll payments can transform them from a burdensome job into a tactical possession.
Handling payroll internationally is a complicated task due to numerous regulations, compliance requirements, data security concerns, and banking guidelines. The large variety of staff members and companies contributes to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems frequently lead to manual processes, information silos, and a lack of integration, resulting in disparities and inadequacies. Regardless of residing in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to supply insights and options to streamline and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of an image they see a lack of presence also reaches payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide organizations have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes badly interacted hires and terminations along with lack management and system configurations and then when you round it all off and the data is delivered to the wrong 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 around the globe payroll and payments don't run efficiently if they depend on the needed several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges company face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and say what is it what does not require to be included right 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 amount of time there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look right ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is permitting us to kind of progress with that it also too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely important that payroll and financing groups work better together than ever um I'm always surprised when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 frequently 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 people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to contribute to sort of the level of complexity there's increasingly more benefits being organ or being used by organizations throughout the world so once again you're just seeking to include more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real difficulties or genuine tough kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would absolutely state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding info into the next function as it were that's actually handling the payment side of things however you know in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we need to create extra handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason why we are still making this as difficult as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any service has from an expense point of view from an effect point of view on staff members it is absolutely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful result on people's wellness and lots of other aspects if people aren't paid uh I've always been impressed coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals only discover when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's viewed externally also. Therefore, it is necessary to ensure that tasks like Wi-Fi Global and other crucial matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment solution is a great preliminary action towards offering a detailed payroll service for employees worldwide. Standardization, international procedures, and minimizing the number of tools, platforms, and savings account necessary for international payroll are crucial factors in achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as prepared. Ultimately, we do not do it for the appreciation.
anyway 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 everybody that's involved in those procedures and likewise so think of sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions picture getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing task attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and type of try to get back to everyone so carrying on appearance why do companies select to primary separate bank accounts there are organizations out there doing exactly this for particular countries and I have actually operated in a business or many services doing exactly that I can state it does not constantly feel effective and it does produce more work I know we're not purposely doing that we're not developing extra work for any person where we do not have 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 amount that we are I think lots of factors one is it's the standard I think individuals have got so utilized to we need a brand-new checking account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have adopted and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and many other ways um to to type of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires changing but eventually people are extremely stuck with what they recognize
with best um modification is a tough thing all of us don't like change um so I think it's simply type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having preserving several savings account however there's a huge amount of complexity goes with setting up a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is substantial but I think the honest response is modification um individuals have not had the ability to alter or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to change however we've constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could practically be identified to be the next Century approximately there is a lot to keep an eye on and this technique does position numerous challenges um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I just did you changed our Business 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 International workers you should have a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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