Find out more about Papaya Global Bulgaria ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a secure and reliable method of paying to our 10,000 employees worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, conserving me a substantial amount of time every month. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Staff member Portal supplies workers with the capability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global helps companies use competitive advantages packages to worldwide employees regardless of the variety of workers in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source regional benefits service providers in every nation, create local accounts and have a minimum number of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall employment costs distributed per place, overall work expenses per cycle and far more.
environments around the world I supplied leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business managing and structure external relationships supporting Business customers and services as well as serving as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a satisfaction to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment services for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually sort of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll perspective so really anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating 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 definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely dreary and I want I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is especially helpful for worldwide companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining separate checking account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for businesses running globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, discover how business forecast payroll costs to optimize working capital, and discover how simplifying global payroll payments can transform them from a troublesome job into a tactical possession.
Managing payroll worldwide is an overwhelming job due to numerous guidelines, compliance requirements, data security concerns, and banking guidelines. The large number of employees and companies contributes to the complexity, with an approximated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems typically lead to manual processes, data silos, and a lack of combination, leading to disparities and inadequacies. Regardless of living in a period of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to offer insights and services to simplify and optimize global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more a company invests in worldwide payroll the less of a picture they see a lack of exposure likewise extends to payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide services have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors poorly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the data is shipped to the wrong location the typical cost of a global 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 do not run smoothly if they count on the required multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they're paying to staff members or otherwise that's an excellent question I always throw 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 amount of time there's payment abilities 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 consumer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind 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 basic and innovation is allowing us to type of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely crucial that payroll and finance teams work better together than ever um I'm constantly astonished when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the compensation landscape is ending up being significantly detailed. Services are continuously presenting new advantages and payment alternatives, which adds to the total complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can cause ineffectiveness and bottlenecks. In my opinion, this doesn't have to be the case. In today's technologically sophisticated era, there's no validation for keeping cumbersome treatments. Payroll, the business's biggest expense, need to be processed properly and on time. Even minor hold-ups can adversely affect workers' well-being and have significant consequences. For that reason, it's crucial to focus on precise and timely payments.
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just notice when things go wrong. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's viewed externally as well. For that reason, it is essential to ensure that tasks like Wi-Fi International and other essential matters are done properly. Utilizing the first Worldwide Payments very first payroll payment solution is an excellent preliminary step towards supplying an extensive payroll solution for employees worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and checking account needed for global payroll are crucial factors in achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyhow we know how how crucial 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 simple as possible for everybody that's associated with those procedures and likewise so envision sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task attempting 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 require days of the week to try to check out them and in fact see what was going on and sort of try to return to everyone so proceeding appearance why do business select to main separate bank accounts there are companies out there doing exactly this for particular countries and I have actually operated in an organization or many businesses doing exactly that I can say it does not constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating extra work for anyone where we do not need to and anybody that's handling that process 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 lots of factors one is it's the standard I believe individuals have got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I think this is a procedure that needs looking at it needs altering however ultimately individuals are really stuck to what they're familiar
with ideal um modification is a challenging thing we all don't like modification um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having maintaining numerous bank accounts but there's a big quantity of complexity goes with establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the complexity is big however I think the truthful answer is change um people have not had the ability to change or have not had always the understanding to really make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could practically be identified to be the next Century or two there is a lot to keep an eye on and this technique does posture numerous challenges um so Johnny could you tell us about those obstacles yeah obviously 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 Worldwide staff members you should have a corner office with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Art