Find out more about Papaya Global Israel ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly committed to managing payments. This supplies us with a protected and trusted method of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Staff member Website
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment documents. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive benefits plans to global staff members no matter the variety of workers in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source local benefits suppliers in every country, develop local accounts and have a minimum number of staff members.
The HR abilities offered by Global HR incorporate numerous functions such as monitoring vacation time, ensuring compliance, facilitating the procedure of inviting new staff members and bidding farewell to leaving ones, offering a safe online platform for keeping employees' documents, and supplying assistance for work permit procedures in case your staff members need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total employment costs distributed per place, overall work expenses per cycle and much more.
environments across the globe I offered leadership and method 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 managing and building external relationships supporting Business customers and options as well as functioning as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a satisfaction to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've type of had a range of various roles on the service provider side and also on the supplier side from a payroll point of view so really anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very extremely uninspiring and I wish I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies maintain different
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex challenge for businesses running internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to enhance working capital, and find how streamlining global payroll payments can transform them from a difficult task into a tactical possession.
Managing payroll worldwide is a daunting task due to different policies, compliance requirements, data security concerns, and banking rules. The large variety of staff members and organizations adds to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems often lead to manual processes, data silos, and an absence of integration, resulting in inconsistencies and inefficiencies. Regardless of residing in an age of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to offer insights and services to streamline and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more a company spends on international payroll the less of a photo they see an absence of visibility also encompasses payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the deal nearly half of international services have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes improperly communicated hires and terminations along with absence management and system configurations and then when you round it all off and the information is delivered to the wrong location the average expense of an international 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 efficiently if they count on the needed several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties company face when they're paying to workers or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't require to be consisted of ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity anywhere you look right eventually building a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like 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 in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is permitting us to kind of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely imperative that payroll and finance groups work more detailed together than ever um I'm always surprised when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on wellness and the payment landscape is ending up being significantly complex. Services are continuously presenting brand-new advantages and payment alternatives, which adds to the total complexity. Large corporations often divide their payroll and payment processing into separate groups, which can lead to inefficiencies and bottlenecks. In my opinion, this doesn't need to hold true. In today's technologically sophisticated period, there's no reason for maintaining cumbersome procedures. Payroll, the company's biggest cost, must be processed properly and on time. Even small hold-ups can negatively impact workers' wellness and have significant consequences. For that reason, it's important to focus on accurate and prompt payments.
payroll team get um so I'm not sure anybody on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle we all 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 workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done properly so leveraging the first International Payments very first payroll payment service is a terrific first step um offering an end-to-end payroll service for your staff members worldwide once again I think is another big um process again lining up and ensuring you have standardization Global processes all of those things are definitely crucial to success success of services and minimizing the number of tools platforms and checking account they need for their International payroll too couldn't 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 thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone quite where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyhow we understand how how crucial a function 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 simple as possible for everybody that's associated with those processes and likewise so envision sorry I'm just I was just gon na say envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case 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 return to everyone so proceeding appearance why do companies pick to primary different bank accounts there are businesses out there doing precisely this for particular countries and I have actually worked in a business or numerous businesses doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not purposely doing that we're not developing additional work for anybody where we don't have to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe lots of factors one is it's the requirement I think individuals have actually got so utilized to we require a new checking account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I think this is a procedure that requires taking a look at it requires altering however eventually individuals are really stuck to what they're familiar
with right um modification is a challenging thing all of us do not like modification um so I believe it's just kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having keeping numerous bank accounts but there's a big quantity of intricacy goes with setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for private people so the complexity is huge but I think the sincere response is change um people have not been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to keep an eye on and this method does present numerous obstacles um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I recently made a change to our Business 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 capability, I have effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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