Find out more about Papaya Global Belgium ... 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 particularly committed to handling payments. This provides us with a safe and secure and reliable method 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 contractors
Worker Portal
Employees have access to an Employee Portal where they can view their pay slips, wage and tax declarations and employment files. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive benefits packages to worldwide employees no matter the number of staff members in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source regional benefits service providers in every nation, develop local accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration 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, workforce variety, overall work costs distributed per location, overall employment expenses per cycle and far more.
environments across the globe I offered management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business managing and building external relationships supporting Enterprise customers and options as well as acting as an advisor for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of various functions on the company side and also on the vendor side from a payroll viewpoint so truly looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to type 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 uninspiring and I wish I was somewhere else at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies maintain separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll also review a recap and that needs to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more common and managing them becomes more and more complicated Worldwide companies are wanting to find Solutions and brand-new methods to streamline procedures specifically from a payroll and cross-border payment standpoint many organizations keep separate checking account just for payroll while some have several accounts in various countries does it make sense for business to maintain separate checking account often in different nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies simplify the episode complex procedures of
Making sure accurate, effective, and timely payroll payments is a complex difficulty for organizations operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to optimize working capital, and find how improving global payroll payments can change them from a challenging task into a strategic possession.
Handling payroll globally is a complicated task due to numerous regulations, compliance requirements, information security concerns, and banking rules. The large number of workers and companies adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of combination, leading to disparities and inefficiencies. Regardless of living in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to supply insights and solutions to streamline and optimize international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization invests in worldwide payroll the less of a picture they see an absence of presence also reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of global businesses have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors improperly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the information is shipped to the wrong place the average expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they count on the essential numerous 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 difficulties company face when they're making payments to workers or otherwise that's a good concern I constantly toss this back and say what is it what doesn't require to be included ideal and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities 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 intricacy anywhere you look best eventually developing a knowledge base is definitely important however everywhere you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link in 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 enabling us to type of move forward with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing groups work closer together than ever um I'm always amazed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone 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 typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
The modern world positions a high value on well-being and the compensation landscape is ending up being increasingly elaborate. Services are continuously introducing brand-new benefits and payment options, which adds to the overall complexity. Big corporations frequently divide their payroll and payment processing into different teams, which can result in inadequacies and traffic jams. In my opinion, this does not have to be the case. In today's technologically advanced era, there's no justification for preserving troublesome treatments. Payroll, the company's biggest expenditure, should be processed properly and on time. Even minor hold-ups can adversely impact staff members' well-being and have significant consequences. Therefore, it's vital to prioritize accurate and prompt payments.
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only see when things go wrong. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's viewed externally too. For that reason, it is necessary to ensure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the very first Global Payments first payroll payment option is an excellent preliminary step towards supplying a comprehensive payroll service for workers worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and savings account necessary for international payroll are essential consider accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things don't go as prepared. Eventually, we don't do it for the thankfulness.
anyway we know how how important a function 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 everybody that's associated with those procedures and also so envision sorry I'm simply I was just gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and in fact see what was going on and kind of shot to get back to everyone so moving on look why do business select to primary separate checking account there are organizations out there doing exactly this for specific countries and I've operated in a business or lots of organizations doing precisely that I can state it does not always feel effective and it does create more work I understand we're not intentionally doing that we're not producing additional work for anyone where we don't need to and any person that's dealing with 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 factors one is it's the standard I think people have got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires altering but ultimately people are really stuck to what they recognize
with right um modification is a difficult thing all of us do not like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having preserving numerous savings account however there's a substantial amount of intricacy chooses establishing a savings account maintaining it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for individual individuals so the intricacy is huge however I think the sincere answer is modification um people have not been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is an element of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could almost be figured out to be the next Century approximately there is a lot to keep an eye on and this method does posture a number of obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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