Find out more about Papaya Global Greece ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a protected and reliable technique of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Worker Portal
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to international employees no matter the variety of employees in the business. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional advantages service providers in every nation, produce local accounts and have a minimum variety of staff members.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total employment costs dispersed per area, overall work expenses per cycle and much more.
environments around the world I offered management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work across the business managing and building external relationships supporting Enterprise customers and solutions in addition to functioning as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many prominent companies worldwide we offer payroll payments and workforce management to all worker types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon excellent evening depending on where you are in the world it's charming to meet 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 market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of different functions on the company side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really really dreary and I want I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business maintain different
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially useful for international organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate savings 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 discuss why they are ending up being a tactical possession for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and prompt payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, discover how business anticipate payroll expenses to optimize working capital, and find how streamlining worldwide payroll payments can transform them from a challenging task into a strategic asset.
Managing payroll worldwide is a daunting job due to various guidelines, compliance requirements, information security issues, and banking rules. The sheer number of staff members and companies adds to the complexity, with an estimated 3.5 billion individuals in the global labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often result in manual procedures, information silos, and a lack of integration, resulting in inconsistencies and ineffectiveness. In spite of residing in an age of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to supply insights and services to simplify and optimize global 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 Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization invests in international payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide businesses have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes improperly interacted hires and terminations along with absence management and system configurations and after that when you round everything off and the data is shipped to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they count on the necessary numerous procedures systems and partners it is just 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 staff members or otherwise that's an excellent concern I always toss this back and say what is it what doesn't need to be included ideal and what does
it require to be thought about there's differing Bank information 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 need to pay from the client's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble very payments no if but some infants 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 believe there's now a bit more recognition that payroll payments are definitely essential and innovation is enabling us to type of move forward with that it also as well to add to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely important that payroll and financing groups work closer together than ever um I'm constantly impressed when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as an industry 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 people wherever they are but also paying statutory authorities and on statutory third 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 more and more advantages being organ or being offered by companies throughout the world so once again you're just aiming to include more and more payments to this already complicated landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine difficulties or genuine difficult type of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would definitely say that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we require to develop extra handoffs while doing sos that we run in they just make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and an age that you know that we are working in today there is no reason that we are still making this as challenging as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from a cost viewpoint from an impact point of view on employees it is absolutely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental result on individuals's wellness and lots of other aspects if people aren't paid uh I've always been astonished entering this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an essential cycle we all become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this stuff is done properly so leveraging the first Global Payments first payroll payment service is a great first step um offering an end-to-end payroll option for your workers internationally again I believe is another substantial um procedure again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely crucial to success success of businesses and minimizing the variety of tools platforms and bank accounts they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how essential a role 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 picture sorry I'm simply I was just gon na state picture 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 speaking about hundreds of thousands possibly Millions imagine getting that lots of 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 certainly be a fascinating job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and in fact see what was going on and sort of shot to get back to everybody so carrying on look why do business select to main different savings account there are services out there doing precisely this for particular countries and I've operated in a company or many organizations doing precisely that I can say it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not producing extra work for any person where we do not have to and anyone that's handling 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 think numerous factors one is it's the requirement I believe people have got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm individuals have adopted 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 many other methods um to to sort of do it so I believe there's a range I believe this is a process that needs taking a look at it needs altering however eventually individuals are very stuck with what they recognize
with right um change is a tough thing we all do not like modification um so I think it's just type 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 comprehend undoubtedly the advantages of having preserving numerous bank accounts however there's a substantial amount of complexity goes with establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is huge however I think the truthful answer is change um individuals have not been able to alter or have not had always the understanding to actually make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century or so there is a lot to keep an eye on and this method does position numerous difficulties um so Johnny could you inform us about those challenges yeah naturally so there's a variety right there is so
I just 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 International staff members you deserve a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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