Find out more about Papaya Global Hr Venture Partners 45M ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and secure and trustworthy method of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app simplifies my payroll process, conserving me a significant amount of time every month. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
Worker Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive benefits plans to global staff members despite the variety of employees in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the need to source local benefits companies in every nation, produce regional accounts and have a minimum variety of workers.
The HR abilities supplied by Worldwide HR incorporate different functions such as keeping an eye on getaway time, guaranteeing compliance, assisting in the procedure of welcoming new workers and bidding farewell to departing ones, providing a safe and secure online platform for saving workers' documents, and supplying assistance for work permit procedures in case your employees require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total employment costs distributed per area, overall employment costs per cycle and a lot more.
environments around the world I provided management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business handling and structure external relationships supporting Business customers and services as well as functioning 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 on the planet we supply payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent night depending upon where you are in the world it's charming to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually type of had a range of different functions on the company side and likewise on the vendor side from a payroll point of view so truly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everybody 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 is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely bleak and I want I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business keep different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in different nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for organizations operating worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to optimize working capital, and discover how enhancing global payroll payments can change them from a challenging task into a tactical asset.
Managing payroll internationally is a daunting job due to numerous guidelines, compliance requirements, information security issues, and banking guidelines. The sheer variety of employees and companies adds to the complexity, with an estimated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often lead to manual processes, information silos, and an absence of combination, resulting in disparities and inefficiencies. Regardless of living in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to provide insights and services to streamline and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization invests in global payroll the less of a photo they see a lack of presence also reaches payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international companies have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors improperly interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is delivered to the incorrect location the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments do not run smoothly if they depend on the essential numerous processes 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 obstacles organization face when they're paying to staff members or otherwise that's a good concern I always toss this back and state what is it what does not require to be consisted of best and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 customer's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is definitely crucial however all over you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a 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 permitting us to sort of move forward with that it also as well to contribute to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely vital that payroll and financing groups work more detailed together than ever um I'm constantly impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation 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 people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on wellness and the compensation landscape is ending up being significantly intricate. Services are constantly introducing new benefits and payment alternatives, which contributes to the overall complexity. Large corporations typically divide their payroll and payment processing into separate groups, which can lead to inefficiencies and traffic jams. In my opinion, this does not have to hold true. In today's technically innovative era, there's no justification for keeping troublesome treatments. Payroll, the company's most significant expenditure, need to be processed correctly and on time. Even minor hold-ups can adversely impact staff members' wellness and have far-reaching repercussions. For that reason, it's critical to focus on accurate and timely payments.
payroll team get um so I'm unsure anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment option is a great primary step um offering an end-to-end payroll solution for your workers worldwide again I think is another huge um process once again lining up and ensuring you have standardization International procedures all of those things are definitely crucial to success success of businesses and lowering the number of tools platforms and bank accounts they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 envision sorry I'm just I was just gon na say envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions picture getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and really see what was going on and kind of try to return to everybody so proceeding appearance why do business select to main separate savings account there are organizations out there doing precisely this for specific countries and I have actually worked in an organization or lots of organizations doing exactly that I can say it does not always feel effective and it does create more work I understand we're not purposely doing that we're not developing extra work for anyone where we do not 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 quantity that we are I believe numerous reasons one is it's the standard I believe people have got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm individuals have embraced and continue to do over years and years passed by to add 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 believe there's a variety I believe this is a procedure that requires looking at it requires changing but eventually people are really stuck to what they recognize
with ideal um change is a difficult thing all of us do not like modification um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having keeping several checking account but there's a substantial amount of complexity chooses establishing a savings account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for individual individuals so the complexity is big however I believe the honest answer is change um individuals haven't had the ability to change or have not had always the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could practically be identified to be the next Century or two there is a lot to keep an eye on and this method does position numerous challenges um so Johnny could you inform us about those difficulties yeah of course so there's a variety 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 feels like our CFO has acquired another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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