Find out more about Papaya Global פרסומת ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and trustworthy approach of paying to our 10,000 employees worldwide.}
The advanced international payroll management app streamlines my payroll procedure, saving me a significant amount of time each month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Worker Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to international staff members regardless of the variety of staff members in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source local advantages companies in every country, develop local accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall employment expenses dispersed per area, overall work expenses per cycle and far more.
environments around the world I supplied leadership and method 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 business handling and building external relationships supporting Enterprise clients and solutions as well as functioning as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for most prominent companies on the planet we supply payroll payments and labor force management to all staff member enters over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent night depending on where you are in the world it's beautiful to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually 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 captivated by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually kind of had a range of different functions on the company side and also on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or two to join all of us 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 currently just to hear where everybody is um it's nice to to type of like see where everyone 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 extremely extremely dreary and I want I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya International payroll payments as a strategic asset uh we'll likewise review a recap and that should leave his time at the very really 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 becomes more and more complex Worldwide companies are aiming to discover Solutions and brand-new ways to streamline procedures specifically from a payroll and cross-border payment viewpoint numerous organizations keep separate bank account just for payroll while some have several accounts in various countries does it make sense for companies to maintain separate checking account often in different nations it does however just for payroll exists a better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies simplify the episode complex processes of
Guaranteeing precise, efficient, and timely payroll payments is a complex challenge for services operating 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 enhance working capital, and find how simplifying worldwide payroll payments can transform them from a challenging job into a strategic property.
Managing payroll worldwide is an overwhelming job due to numerous policies, compliance requirements, information security concerns, and banking guidelines. The sheer number of employees and businesses adds to the complexity, with an estimated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically lead to manual processes, information silos, and an absence of integration, causing inconsistencies and inefficiencies. In spite of residing in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to supply insights and options to simplify and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather honestly the more a service spends on worldwide payroll the less of a photo they see a lack of visibility also encompasses payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of worldwide services have actually revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors badly communicated hires and terminations along with lack management and system setups and then when you round it all off and the information is shipped to the incorrect location the average cost of a worldwide information 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 do not run efficiently if they rely on the needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges company face when they're paying to employees or otherwise that's a great question I constantly toss this back and state what is it what does not need to be consisted of best 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 country there's payment amount of time 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 complexity wherever you look right eventually building a knowledge base is definitely vital however all over you look with payroll payment they are like extremely payments no if however some babies 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 believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is enabling us to kind of move forward with that it also as well to contribute to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and finance groups work better together than ever um I'm always astonished when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often 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 wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high value on well-being and the settlement landscape is becoming increasingly intricate. Businesses are continuously presenting new benefits and payment choices, which contributes to the total intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can cause inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's technically innovative era, there's no validation for keeping troublesome procedures. Payroll, the company's greatest cost, must be processed properly and on time. Even slight delays can adversely affect employees' wellness and have far-reaching repercussions. Therefore, it's important to focus on accurate and timely payments.
payroll group get um so I'm unsure anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle we all find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box workout 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 things is definitely important that all of this things is done properly so leveraging the first International Payments very first payroll payment option is a fantastic primary step um providing an end-to-end payroll solution for your employees internationally once again I think is another substantial um process again aligning and guaranteeing you have standardization International processes all of those things are absolutely key to success success of companies and minimizing the number of tools platforms and savings account they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually 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 rather where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyhow 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 simple as possible for everyone that's associated with those processes and likewise so imagine sorry I'm just I was just gon na say imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions imagine getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and type of try to get back to everyone so moving on look why do business choose to main separate savings account there are companies out there doing precisely this for particular nations and I've worked in a service or lots of services doing precisely that I can say it does not constantly feel effective and it does create more work I know we're not deliberately doing that we're not developing additional work for anybody where we don't need to and anybody that's dealing with 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 amount that we are I believe lots of reasons one is it's the standard I believe people have got so used to we require a new bank account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have embraced 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 many other methods um to to sort of do it so I believe there's a variety I think this is a process that requires looking at it needs changing however eventually people are really stuck to what they recognize
with best um change is a challenging thing all of us do not like modification um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having preserving numerous checking account but there's a huge quantity of complexity chooses setting up a bank account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the intricacy is substantial but I think the truthful response is modification um individuals haven't had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century or so there is a lot to keep an eye on and this approach does position numerous difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I simply did you switched our Enterprise 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 Worldwide employees you deserve a corner workplace with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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