Find out more about Papaya Global Scale Venture Partners ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to handling payments. This provides us with a safe and reputable technique of making payments to our 10,000 workers worldwide.}
The innovative international payroll management app simplifies my payroll procedure, saving me a considerable quantity of time each month. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Employee Portal offers workers with the capability to access and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages packages to global workers regardless of the variety of employees in the business. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source local advantages service providers in every nation, create regional accounts and have a minimum variety of workers.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall employment costs distributed per location, total work expenses per cycle and far more.
environments around the world I offered management and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and building external relationships supporting Business clients and solutions as well as functioning as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for many influential business in the world we provide payroll payments and workforce management to all worker enters 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 remain in the world it's beautiful 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've been in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I've kind of had a range of various functions on the service provider side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well one of 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 interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I truly 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 really very uninspiring and I wish I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business preserve separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of preserving separate bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and prompt payroll payments is a complex obstacle for companies running globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to optimize working capital, and discover how simplifying international payroll payments can transform them from a challenging job into a tactical possession.
Managing payroll internationally is a difficult task due to various policies, compliance requirements, information security concerns, and banking rules. The large variety of workers and services contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual processes, data silos, and an absence of combination, resulting in disparities and inefficiencies. Regardless of living in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar objectives to provide insights and options to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of a photo they see an absence of presence likewise reaches payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the deal nearly half of international organizations have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes improperly interacted hires and terminations in addition to lack management and system configurations and then when you round it all off and the information is delivered to the incorrect 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 require to move the cash around the globe payroll and payments don't run smoothly if they rely on the needed several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they're making payments to workers or otherwise that's a good question I constantly toss this back and state what is it what doesn't need to be included best 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 nation there's payment time frames 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 ideal eventually constructing a knowledge base is definitely critical however everywhere you look with payroll payment they are like extremely payments no if but some infants 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 think there's now a bit more recognition that payroll payments are absolutely essential and technology is permitting us to sort of move forward with that it likewise too to add to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely imperative that payroll and finance teams work better together than ever um I'm always amazed when individuals state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation 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 procedure it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on well-being and the compensation landscape is becoming progressively detailed. Companies are continuously introducing brand-new benefits and payment alternatives, which contributes to the overall intricacy. Big corporations often divide their payroll and payment processing into separate teams, which can cause inefficiencies and traffic jams. In my viewpoint, this doesn't need to hold true. In today's highly innovative period, there's no reason for maintaining cumbersome treatments. Payroll, the business's biggest expense, should be processed properly and on time. Even small delays can adversely impact workers' well-being and have significant consequences. For that reason, it's important to prioritize precise and timely payments.
payroll team get um so I'm not exactly sure anyone on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers 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 however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely vital that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment service is a terrific primary step um providing an end-to-end payroll solution for your employees internationally again I believe is another substantial um process again lining up and ensuring you have standardization Global procedures all of those things are definitely key to success success of companies and lowering the variety of tools platforms and savings account they need for their International 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've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're suggested to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how crucial a role 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 everybody that's associated with those procedures and also so picture sorry I'm simply I was just gon na say 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 talking about hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and type of shot to get back to everybody so proceeding appearance why do business select to primary different bank accounts there are businesses out there doing precisely this for particular nations and I've worked in a business or many businesses doing precisely that I can say it doesn't constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not creating extra work for anybody where we do not need to and anyone that's dealing with that process 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 think lots of factors one is it's the requirement I believe individuals have actually got so utilized to we require a new savings account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a variety I believe this is a process that needs taking a look at it needs changing however eventually individuals are really stuck with what they recognize
with ideal um modification is a difficult thing we all don't like change um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having keeping numerous checking account however there's a huge amount of intricacy opts for establishing a checking account maintaining it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private people so the complexity is big however I think the honest answer is modification um people haven't had the ability to alter or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter however we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century or so there is a lot to keep track of and this technique does position a number of obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I just did you switched 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 are worthy of a corner workplace with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Bhutan