Find out more about Papaya Global For Payroll Reviews ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This provides us with a safe and reliable method of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app enhances my payroll procedure, saving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Staff member Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive benefits packages to global workers regardless of the variety of staff members in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local benefits providers in every country, produce regional accounts and have a minimum number of workers.
The HR abilities offered by Global HR incorporate numerous functions such as monitoring vacation time, guaranteeing compliance, helping with the process of inviting new workers and bidding farewell to departing ones, using a protected online platform for storing employees' documents, and offering support for work allow treatments in case your workers need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, total work costs dispersed per area, total employment expenses per cycle and far more.
environments around the world I offered leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work throughout the business handling and structure external relationships supporting Business customers and services along with serving as an advisor for those of you that do not understand who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent business in the world we supply payroll payments and workforce management to all employee enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon excellent evening depending on where you remain 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 been in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity 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 six years where I have actually sort of had a variety of various functions on the company side and likewise on the vendor side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I really do hope it's much sunnier than it is 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 really uninspiring and I wish I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business preserve different
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic asset for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex obstacle for companies operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to optimize working capital, and discover how simplifying international payroll payments can transform them from a burdensome task into a tactical possession.
Managing payroll internationally is a challenging task due to numerous guidelines, compliance requirements, data security concerns, and banking rules. The large number of employees and services contributes to the complexity, with an estimated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems frequently lead to manual procedures, information silos, and a lack of combination, leading to inconsistencies and ineffectiveness. Despite living in an era of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to provide insights and options to streamline and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce data in real time that's another number that provides me sleepless nights and quite frankly the more an organization spends on worldwide payroll the less of a picture they see an absence of exposure also extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide services have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors improperly interacted hires and terminations in addition to lack management and system setups and then when you round all of it off and the information is delivered to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they rely on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're making payments to workers or otherwise that's a good question I always throw this back and state what is it what does not require to be included ideal and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is absolutely important but everywhere you look with payroll payment they are like extremely payments no if but some children 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 absolutely essential and technology is allowing us to kind of progress with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely important that payroll and finance teams work more detailed together than ever um I'm always astonished when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation 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 people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to add to sort of the level of complexity there's increasingly more advantages being organ or being provided by services across the world so once again you're simply seeking to include more and more payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real obstacles or real challenging sort of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a number of decades I would definitely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding details into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to produce additional handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they don't make them what they require to be in in an age of tech and a period that you understand that we are working in today there is no reason why we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any business has from a cost perspective from an effect perspective on employees it is definitely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the biggest damaging result on individuals's well-being and many other factors if individuals aren't paid uh I've always been impressed entering into this Market sort of the last five to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only discover when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally as well. Therefore, it is essential to guarantee that tasks like Wi-Fi Global and other vital matters are done properly. Using the very first International Payments first payroll payment service is a fantastic initial action towards providing a thorough payroll service for employees worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and savings account essential for worldwide payroll are crucial consider attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things don't go as prepared. Eventually, we do not do it for the thankfulness.
anyway we know how how crucial 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 processes and also so picture sorry I'm just I was just gon na state envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job attempting to clean 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 require days of the week to try to look through them and in fact see what was going on and kind of shot to get back to everyone so carrying on appearance why do companies choose to primary separate bank accounts there are services out there doing precisely this for specific countries and I have actually worked in a company or lots of businesses doing exactly that I can state it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing additional work for anybody where we don't need to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many reasons one is it's the requirement I think people have actually got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs changing but ultimately people are very stuck with what they recognize
with ideal um modification is a difficult thing all of us do not like modification um so I think it's simply kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having maintaining several bank accounts but there's a huge quantity of complexity goes with establishing a checking account keeping it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for private people so the complexity is big however I believe the sincere answer is modification um people have not been able to change or have not had always the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this method does posture numerous challenges um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I simply did you switched 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 Global staff members you should have a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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