Find out more about Papaya Global Solomon Islands ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and dependable technique of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Worker Website
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment files. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to worldwide workers regardless of the number of workers in the business. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source regional benefits service providers in every nation, produce local accounts and have a minimum number of workers.
The HR capabilities supplied by International HR incorporate numerous functions such as keeping an eye on trip time, ensuring compliance, assisting in the process of inviting new employees and bidding goodbye to departing ones, offering a safe and secure online platform for saving employees' 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 provides you insights into labor force spending, workforce diversity, total work costs dispersed per area, overall employment expenses per cycle and a lot more.
environments around the world I provided management and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business managing and structure external relationships supporting Business clients and solutions in addition to serving as a consultant 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 most influential business in the world we provide payroll payments and labor force management to all staff member key ins 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 present yourself of course thank you good morning excellent afternoon great evening depending upon where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian said 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 dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've sort of had a range of various functions on the provider side and likewise on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or so to join we all 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 already just to hear where everybody 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 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 very very gloomy and I wish I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why business keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a tactical possession uh we'll likewise review a wrap-up and that needs 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 Global labor forces end up being increasingly more typical and managing them becomes more and more complex Worldwide companies are wanting to find Solutions and new methods to improve processes particularly from a payroll and cross-border payment viewpoint numerous companies keep different bank account just for payroll while some have multiple accounts in different nations does it make sense for business to keep separate savings account sometimes in various countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies enhance the episode complex procedures of
making payroll payments accurately efficiently safely and on time during this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how business precisely anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in sufficient in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most importantly policies compliance data security and banking guidelines then there are the sheer numbers they include additional complexity the worldwide Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the conventional payroll design there's frequently an overwhelming variety of different systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in big quantities and or very very fundamental there's no real consistency framework we're living in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more a service spends on global payroll the less of an image they see an absence of visibility likewise extends to payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction nearly half of global organizations have actually expressed that they don't 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 poor HCM information data entry errors inadequately communicated hires and terminations in addition to lack management and system configurations and then when you round all of it off and the data is shipped to the incorrect location the average cost 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 money around the globe payroll and payments don't run smoothly if they rely on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges company face when they're making payments to staff members or otherwise that's a good question I always toss this back and say what is it what doesn't need to be included best and what does
it require 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 timespan there's payment capabilities 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 consumer's own in-country account so there's complexity any place you look right ultimately constructing a knowledge base is absolutely critical but all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to type of progress with that it also too to add to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely crucial that payroll and finance teams work more detailed together than ever um I'm always amazed when people 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 divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on wellness and the payment landscape is ending up being increasingly elaborate. Companies are continuously presenting new benefits and payment options, which contributes to the total intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can cause inefficiencies and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's technologically advanced period, there's no justification for maintaining cumbersome procedures. Payroll, the business's most significant expenditure, need to be processed correctly and on time. Even slight hold-ups can negatively affect workers' wellness and have significant effects. Therefore, it's crucial to focus on accurate and prompt payments.
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just discover when things fail. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's perceived externally too. For that reason, it is essential to ensure that jobs like Wi-Fi Worldwide and other vital matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment option is an excellent preliminary action towards providing a thorough payroll service for workers worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and checking account needed for worldwide payroll are key factors in accomplishing business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as planned. Ultimately, we do not do it for the gratitude.
anyway we understand how how important 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 involved in those processes and likewise so think of sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task trying to clean up all those up for sure oh definitely I can't think of 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 really see what was going on and sort of try to get back to everybody so proceeding appearance why do companies choose to main separate checking account there are services out there doing exactly this for particular nations and I've worked in an organization or many organizations doing exactly that I can state it does not always feel effective and it does produce more work I know we're not purposely doing that we're not developing extra work for anyone where we do not have to and anybody 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 quantity that we are I believe lots of reasons one is it's the standard I believe people have got so utilized to we require a new savings account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I think this is a process that needs taking a look at it needs altering but eventually individuals are really stuck with what they're familiar
with best um change is a difficult thing all of us don't like modification um so I believe it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having preserving several bank accounts however there's a substantial quantity of complexity goes with establishing a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the intricacy is huge however I believe the honest answer is modification um people have not had the ability to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could practically be figured out to be the next Century or so there is a lot to monitor and this approach does position several challenges um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just 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 International staff members you are worthy of a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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