Find out more about Papaya Global India Office ... 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 acquired a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and secure and reputable technique of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and contractors
Worker Website
Employees have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment files. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to international staff members regardless of the variety of staff members in the company. The business can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source regional benefits service providers in every nation, produce regional accounts and have a minimum variety of staff members.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall employment expenses dispersed per location, total work expenses per cycle and much more.
Worldwide, I have actually shown leadership and tactical proficiency in directing massive populations of over 100,000 workers throughout 170 countries. Currently, I are accountable for supervising payroll techniques, as mentioned by Mark. My role includes handling and developing external collaborations, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for the majority of influential business in the world we provide payroll payments and labor force 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 present yourself naturally thank you good morning great afternoon excellent evening depending on where you are in the world it's lovely to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've kind of had a variety of various roles on the service provider side and likewise on the vendor side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very gloomy and I wish I was somewhere else at this moment in time okay 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 managing Global payroll why companies keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical possession uh we'll also go over a recap which must leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of typical and managing them ends up being a growing number of intricate Global companies are aiming to find Solutions and brand-new methods to streamline processes particularly from a payroll and cross-border payment perspective lots of companies keep different checking account just for payroll while some have numerous accounts in various nations does it make good sense for business to keep different checking account sometimes in different countries it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies enhance the episode complex processes of
Making sure accurate, effective, and prompt payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, learn how companies anticipate payroll expenses to optimize working capital, and find how improving worldwide payroll payments can transform them from a burdensome job into a strategic asset.
Handling payroll worldwide is a daunting job due to various policies, compliance requirements, information security issues, and banking rules. The sheer number of workers and companies contributes to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual processes, information silos, and a lack of integration, causing inconsistencies and inefficiencies. In spite of living in a period of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to supply insights and services to simplify and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more a company invests in international payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of global companies have actually revealed that they don't 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 bad HCM information data entry errors improperly interacted hires and terminations in addition to absence management and system setups and after that when you round all of it off and the data is shipped to the wrong place the average 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 money around the globe payroll and payments do not run efficiently if they rely on the needed several procedures systems and partners it is simply not possible so Johnny from a payments point of view 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 a great concern I constantly throw this back and say what is it what doesn't require to be included right and what does
it require 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 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 consumer's own in-country account so there's intricacy anywhere you look ideal ultimately constructing a knowledge base is definitely important but 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 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 definitely essential and innovation is permitting us to kind of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely vital that payroll and financing teams work closer together than ever um I'm constantly amazed when people say I have actually split 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 a market accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on well-being and the payment landscape is ending up being increasingly detailed. Organizations are continuously presenting brand-new benefits and payment options, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into different groups, which can cause ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's highly innovative era, there's no validation for preserving troublesome treatments. Payroll, the business's most significant expense, need to be processed properly and on time. Even slight delays can adversely affect workers' well-being and have far-reaching effects. For that reason, it's crucial to focus on precise and prompt payments.
payroll team get um so I'm uncertain anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but eventually payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done correctly so leveraging the very first International Payments very first payroll payment service is an excellent primary step um providing an end-to-end payroll option for your staff members globally again I think is another huge um procedure again lining up and guaranteeing you have standardization Worldwide processes all of those things are definitely crucial to success success of companies and decreasing the variety of tools platforms and savings account they require for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I do not think any of us are really doing that for for the thanks
anyhow we know how how important 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 easy as possible for everyone that's associated with those procedures and also so picture sorry I'm simply I was simply gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions imagine 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 an interesting job trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and in fact see what was going on and sort of shot to get back to everyone so carrying on look why do business 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 lots of businesses doing exactly that I can state it doesn't constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not producing additional work for anyone where we do not need to and any person 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 actually got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I think this is a procedure that requires looking at it requires changing but eventually individuals are very stuck with what they recognize
with right um modification is a difficult thing all of us do not like modification um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having preserving several checking account however there's a substantial amount of intricacy opts for setting up a bank account maintaining it ensuring it can send International transfers ensuring it's set up with the best user accesses for individual people so the complexity is huge however I believe the honest response is modification um individuals haven't been able to alter or have not had always the understanding to really make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could almost be determined to be the next Century or so there is a lot to keep track of and this method does position several obstacles um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I just did you switched our Enterprise 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 employees you should have a corner office with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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