Find out more about Papaya Global Saint Pierre & Miquelon ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and secure and trusted method of paying to our 10,000 employees worldwide.}
The advanced global payroll management app simplifies my payroll procedure, conserving me a substantial amount of time monthly. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Staff member Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages bundles to worldwide employees regardless of the variety of staff members in the company. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source regional advantages companies in every nation, create regional accounts and have a minimum number of employees.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work costs distributed per location, overall work expenses per cycle and a lot more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout the business handling and building external relationships supporting Business customers and solutions in addition to serving as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment services for the past seven years. The complexities and difficulties of this field have constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of different functions on the service 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 very much for your time everybody okay thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating 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 everyone comes from and I really 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 drizzling here it's very very uninspiring and I wish I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business preserve different
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate checking account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, find out how business anticipate payroll expenses to optimize working capital, and discover how enhancing global payroll payments can change them from a difficult job into a strategic asset.
Handling payroll globally is a complicated job due to numerous policies, compliance requirements, data security concerns, and banking rules. The sheer variety of employees and businesses contributes to the intricacy, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically result in manual processes, information silos, and an absence of combination, leading to inconsistencies and inefficiencies. Regardless of residing in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to supply insights and options to streamline and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that provides me sleepless nights and quite honestly the more a company invests in international payroll the less of a photo they see an absence of visibility also reaches payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the transaction nearly half of international organizations have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes improperly communicated 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 incorrect place the typical 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 all over the world payroll and payments don't run smoothly if they rely on the required multiple 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 challenges organization face when they're paying to employees or otherwise that's a great question I constantly toss this back and state what is it what doesn't need 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 country there's payment time frames 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 client's own in-country account so there's complexity wherever you look best ultimately building a knowledge base is absolutely vital but all over you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind 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 absolutely essential and innovation is permitting us to kind of move on with that it likewise as well to add to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely vital that payroll and financing groups work closer together than ever um I'm constantly amazed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry 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 information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on well-being and the compensation landscape is becoming progressively complex. Companies are continuously introducing new benefits and payment options, which adds to the overall complexity. Big corporations often divide their payroll and payment processing into separate teams, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't have to be the case. In today's technically sophisticated era, there's no validation for preserving cumbersome treatments. Payroll, the company's most significant cost, must be processed correctly and on time. Even small delays can adversely affect workers' well-being and have significant consequences. For that reason, it's vital to focus on accurate and timely payments.
payroll team get um so I'm unsure anybody on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle we all become aware of it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I believe 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 things is definitely essential that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment service is a fantastic initial step um supplying an end-to-end payroll solution for your employees globally once again I think is another substantial um process again aligning and ensuring you have standardization Worldwide processes all of those things are definitely key to success success of companies and reducing the number of tools platforms and bank accounts they need 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 don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I do not think any of us are really 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 easy as possible for everyone that's involved in those processes and likewise so picture sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job 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 browse them and in fact see what was going on and type of try to get back to everyone so moving on look why do companies pick to primary different bank accounts there are businesses out there doing exactly this for specific nations and I've operated in a company or lots of businesses doing exactly that I can state it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not producing additional work for anybody where we do not need 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 believe numerous reasons one is it's the requirement I believe people have got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I think this is a process that needs taking a look at it requires altering but ultimately people are very stuck to what they recognize
with ideal um change is a challenging thing all of us do not like modification um so I think 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 things um I understand undoubtedly the advantages of having preserving several bank accounts but there's a substantial quantity of intricacy chooses setting up a savings account maintaining it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is huge but I think the truthful response is modification um individuals haven't had the ability to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we've always done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what could nearly be identified to be the next Century approximately there is a lot to keep an eye on and this technique does posture several obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you deserve a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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