Find out more about Papaya Global Series A ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to handling payments. This supplies us with a secure and reputable method of making payments to our 10,000 workers worldwide.}
The advanced worldwide payroll management app enhances my payroll process, saving me a substantial amount of time each month. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
The Staff member Portal offers workers with the capability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global assists companies provide competitive advantages packages to global workers no matter the variety of staff members in the company. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the need to source regional benefits service providers in every nation, create local accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, total work costs distributed per place, overall employment expenses per cycle and far more.
environments across the globe I provided management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business managing and building external relationships supporting Business customers and solutions along with serving as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for a lot of prominent business in the world we provide payroll payments and workforce management to all staff member types in over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon excellent night depending on where you remain in the world it's beautiful to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was interested by the complexity the trouble 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 have actually kind of had a range of various roles on the supplier side and likewise on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just offer everybody 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 interesting and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly 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 raining here it's extremely very bleak and I wish I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies keep separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic asset uh we'll likewise review a wrap-up and that ought to leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more common and managing them ends up being more and more complicated Worldwide organizations are aiming to discover Solutions and new ways to improve procedures especially from a payroll and cross-border payment perspective lots of organizations keep separate savings account just for payroll while some have numerous accounts in different countries does it make good sense for business to keep separate checking account often in various nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business enhance the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for organizations running globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to optimize working capital, and find how enhancing global payroll payments can change them from a troublesome task into a tactical property.
Managing payroll globally is a challenging task due to numerous regulations, compliance requirements, data security issues, and banking rules. The large variety of employees and services adds to the intricacy, with an estimated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems typically lead to manual processes, data silos, and a lack of integration, causing disparities and inadequacies. In spite of residing in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to supply insights and solutions to simplify and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more an organization spends on international payroll the less of an image they see a lack of exposure also reaches payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the transaction almost half of global companies have actually expressed 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 data data entry mistakes inadequately communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the data is delivered to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they depend on the essential several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and state what is it what doesn't require to be included ideal and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 customer's own in-country account so there's intricacy any place you look ideal ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a 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 essential and innovation is allowing us to kind of progress with that it also as well to add to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work closer together than ever um I'm constantly astonished when people state I've divided 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 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 process it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on well-being and the payment landscape is becoming progressively elaborate. Companies are constantly introducing brand-new benefits and payment alternatives, which contributes to the total intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can cause inadequacies and traffic jams. In my opinion, this does not have to be the case. In today's highly advanced period, there's no reason for keeping cumbersome procedures. Payroll, the business's biggest cost, need to be processed properly and on time. Even small delays can negatively affect staff members' well-being and have significant consequences. Therefore, it's important to focus on accurate and prompt payments.
payroll group get um so I'm unsure anybody on this kind of webinar has actually been told 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 employees or not um but eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment service is a terrific initial step um offering an end-to-end payroll service for your employees worldwide once again I believe is another huge um process again lining up and guaranteeing you have standardization International processes all of those things are definitely key to success success of businesses and minimizing the number of tools platforms and bank accounts they require 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 had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone quite where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyway 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 everybody 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 quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions imagine getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case 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 return to everyone so carrying on appearance why do business select to primary different checking account there are businesses out there doing precisely this for specific nations and I have actually worked in a company or many businesses doing precisely that I can state it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not producing extra work for any person where we don't 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 amount that we are I believe numerous reasons one is it's the standard I think individuals have actually got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I think this is a process that needs taking a look at it requires changing but ultimately individuals are very stuck to what they recognize
with ideal um modification is a challenging thing all of us don't like modification um so I believe it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having maintaining numerous checking account however there's a huge quantity of complexity opts for establishing a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the best user accesses for specific people so the intricacy is huge but I believe the sincere answer is change um individuals haven't been able to alter or haven't had always the knowledge to really make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century or so there is a lot to keep track of and this method does present numerous difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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