Find out more about Papaya Global Sint Maarten ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a protected and trusted approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Worker Portal
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive advantages packages to global employees no matter the number of workers in the company. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local benefits providers in every nation, create regional accounts and have a minimum number of employees.
The HR capabilities offered by Global HR include different functions such as monitoring getaway time, guaranteeing compliance, assisting in the procedure of welcoming new workers and bidding farewell to departing ones, offering a protected online platform for keeping workers' documents, and providing assistance for work allow procedures in case your employees require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall employment costs distributed per area, total employment expenses per cycle and a lot more.
environments around the world I provided management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across the business managing and structure external relationships supporting Enterprise clients and options along with serving as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for many prominent companies worldwide we offer payroll payments and workforce management to all staff member enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent evening depending upon where you are in the world it's beautiful to fulfill 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 remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've kind of had a variety of various functions on the provider side and also on the vendor side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everyone another couple 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 quite interesting and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really extremely bleak and I wish I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies preserve different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical asset uh we'll also review a recap which needs to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of common and managing them ends up being more and more intricate Global companies are looking to discover Solutions and new ways to simplify procedures especially from a payroll and cross-border payment standpoint many companies maintain different bank account just for payroll while some have several accounts in various countries does it make good sense for business to keep different savings account sometimes in various countries it does however just for payroll is there a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business streamline the episode complex processes of
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for services running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll expenses to enhance working capital, and find how improving global payroll payments can transform them from a difficult task into a tactical asset.
Managing payroll globally is a challenging job due to various regulations, compliance requirements, data security concerns, and banking rules. The large variety of workers and organizations adds to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and an absence of integration, resulting in disparities and inefficiencies. In spite of residing in an age of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to provide insights and solutions to streamline and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that provides me sleepless nights and rather frankly the more a service spends on global payroll the less of a photo they see a lack of visibility also extends to payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal nearly half of global services have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors badly communicated hires and terminations along with lack management and system configurations and then when you round all of it off and the data is shipped to the wrong place the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles business face when they're making payments to staff members or otherwise that's a great question I always throw this back and say what is it what does not need to be consisted of ideal and what does
it need to be considered there's varying Bank details 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 need to pay from the customer's own in-country account so there's complexity any place you look best ultimately building a knowledge base is definitely vital but everywhere you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is enabling us to kind of move forward with that it likewise too to add to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely necessary that payroll and finance teams work closer together than ever um I'm always surprised when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on wellness and the settlement landscape is ending up being increasingly intricate. Businesses are continuously presenting new advantages and payment options, which contributes to the general intricacy. Large corporations often divide their payroll and payment processing into separate groups, which can result in ineffectiveness and traffic jams. In my opinion, this doesn't need to be the case. In today's technologically advanced era, there's no justification for maintaining cumbersome treatments. Payroll, the company's biggest expenditure, must be processed correctly and on time. Even slight hold-ups can negatively affect workers' well-being and have far-reaching effects. Therefore, it's vital to focus on accurate and prompt payments.
payroll team get um so I'm uncertain anybody on this sort 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 but ultimately payroll is such an essential cycle we all find out about 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 likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done correctly so leveraging the first Global Payments first payroll payment option is an excellent primary step um offering an end-to-end payroll option for your workers worldwide once again I think is another big um procedure again aligning and ensuring you have standardization International processes all of those things are definitely essential to success success of companies and decreasing the variety of tools platforms and savings account 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've never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I don't 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 processes and likewise so envision sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and really see what was going on and sort of shot to return to everybody so carrying on look why do business select to primary different bank accounts there are services out there doing exactly this for particular countries and I have actually operated in an organization or numerous organizations doing precisely that I can say it does not always feel effective and it does create more work I know we're not purposely doing that we're not developing extra work for anybody where we do not need to and anybody 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 think many reasons one is it's the requirement I think people have 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 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 actually taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I believe this is a procedure that requires taking a look at it requires altering however ultimately people are very stuck to what they're familiar
with right um change is a difficult thing we all don't like modification um so I think it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having maintaining several checking account but there's a substantial quantity of complexity opts for setting up a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is big however I think the truthful answer is change um individuals have not had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you know what might almost be determined to be the next Century approximately there is a lot to monitor and this method does position numerous challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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