Find out more about Papaya Global Suriname ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to managing payments. This provides us with a protected and reputable approach of paying to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app streamlines my payroll process, saving me a significant quantity of time every month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Worker Portal
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies offer competitive benefits plans to worldwide employees regardless of the variety of workers in the company. The business can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages suppliers in every nation, develop local accounts and have a minimum number of staff members.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total work expenses dispersed per area, total work expenses per cycle and much more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business managing and structure external relationships supporting Enterprise clients and services along with functioning as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
business to make the time 100 list for most prominent business worldwide we supply payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent evening depending upon where you are in the world it's lovely 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 particularly dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've type of had a variety of various functions on the company side and likewise on the vendor side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone 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 really dreary and I want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business maintain separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining separate savings account for payroll in different countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise provide a recap 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 challenge for companies operating internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, find out how business forecast payroll costs to enhance working capital, and discover how simplifying worldwide payroll payments can transform them from a challenging job into a tactical property.
Handling payroll internationally is an overwhelming task due to different guidelines, compliance requirements, information security concerns, and banking rules. The large number of staff members and organizations adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual processes, data silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. Regardless of residing in an era of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to provide insights and services to streamline and enhance international payroll payments.
about it to offer you a concept 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 offers me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of an image they see an absence of visibility also reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal almost half of global organizations have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes badly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the information is delivered to the incorrect location the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they depend on the required numerous processes 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 challenges service face when they're paying to staff members or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be included ideal and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 have to pay from the consumer's own in-country account so there's intricacy anywhere you look best ultimately developing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like super payments no if however some infants 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 recognition that payroll payments are absolutely fundamental and technology is enabling us to kind of progress with that it also too to add to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely imperative that payroll and financing teams work better together than ever um I'm constantly amazed when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation 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 eventually 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 3rd parties so with the
The modern world places a high value on well-being and the settlement landscape is becoming progressively complex. Services are continually presenting new advantages and payment choices, which adds to the general complexity. Large corporations frequently divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my opinion, this does not need to hold true. In today's technologically sophisticated era, there's no reason for keeping troublesome procedures. Payroll, the business's most significant expenditure, need to be processed correctly and on time. Even slight hold-ups can adversely affect workers' wellness and have far-reaching consequences. For that reason, it's vital to focus on precise and timely payments.
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just notice when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's viewed externally also. Therefore, it is necessary to guarantee that tasks like Wi-Fi Global and other crucial matters are done properly. Using the first Worldwide Payments first payroll payment service is a terrific preliminary action towards providing a comprehensive payroll service for workers worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and checking account essential for international payroll are essential factors in attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyway we know how how essential a role it is and that'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 associated with those procedures and also so picture sorry I'm just I was just gon na state imagine 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 discussing numerous thousands potentially Millions envision getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and in fact see what was going on and sort of try to get back to everybody so moving on appearance why do business pick to main different checking account there are businesses out there doing exactly this for specific countries and I've worked in a service or many organizations doing precisely that I can state it does not constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not creating additional work for anyone where we don't need to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many factors one is it's the standard I believe people have actually got so utilized to we require a brand-new checking account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm 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 lots of other ways um to to sort of do it so I believe there's a range I think this is a process that needs looking at it requires changing however eventually individuals are extremely stuck to what they recognize
with right um modification is a difficult thing all of us don't like modification um so I think it's just sort 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 benefits of having preserving multiple savings account however there's a huge quantity of intricacy goes with setting up a bank account preserving it ensuring it can send out International transfers ensuring it's established with the best user accesses for specific individuals so the complexity is substantial but I believe the honest response is change um individuals haven't been able to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I think it is understanding you know and there is an element of resistance to change but we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what might almost be determined to be the next Century approximately there is a lot to track and this technique does posture a number of challenges um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I recently made a change 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 gained another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering international 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 accomplishments.
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