Find out more about Papaya Global Ireland ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and reliable technique of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app streamlines my payroll procedure, conserving me a significant quantity of time every month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Employee Portal provides employees with the capability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global assists business provide competitive advantages bundles to global employees regardless of the number of employees in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional advantages service providers in every nation, create local accounts and have a minimum variety of workers.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total employment expenses distributed per location, overall work costs per cycle and much more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work across the business managing and structure external relationships supporting Enterprise clients and options as well as acting as an advisor for those of you that do not know who papaya International is papaya is the first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We specialize in offering payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've sort of had a range of various roles on the service provider side and also on the vendor side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply provide everyone another number of uh well one of 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 quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly 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 extremely extremely dreary and I want 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 obstacle years of handling International payroll why business preserve different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a strategic property uh we'll likewise review a wrap-up which should leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more typical and managing them ends up being increasingly more complicated International companies are wanting to discover Solutions and brand-new ways to enhance processes especially from a payroll and cross-border payment perspective lots of companies keep different savings account just for payroll while some have several accounts in different nations does it make sense for companies to keep different bank accounts often in various nations it does but just for payroll is there a better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international business simplify the episode complex processes of
Making sure precise, efficient, and prompt payroll payments is a complex difficulty for companies operating worldwide. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, learn how companies forecast payroll costs to enhance working capital, and find how enhancing international payroll payments can change them from a challenging task into a strategic possession.
Managing payroll worldwide is an overwhelming task due to various regulations, compliance requirements, information security issues, and banking rules. The large variety of workers and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems often lead to manual processes, information silos, and an absence of integration, causing inconsistencies and inadequacies. Regardless of living in a period of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to offer insights and services to streamline and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that offers me sleepless nights and quite frankly the more a company spends on worldwide payroll the less of a picture they see an absence of presence also extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of global organizations have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes poorly interacted hires and terminations in addition to absence management and system configurations and then when you round everything off and the data is delivered to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they depend on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and state what is it what doesn't require to be included right and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 have to pay from the consumer's own in-country account so there's complexity any place you look right eventually developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble very payments no if but some children 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is enabling us to type of progress with that it also too to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work better together than ever um I'm constantly astonished when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 frequently 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 individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on wellness and the compensation landscape is ending up being progressively intricate. Businesses are continually introducing brand-new advantages and payment alternatives, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into different groups, which can cause inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's technically sophisticated era, there's no validation for keeping troublesome treatments. Payroll, the business's greatest expenditure, must be processed correctly and on time. Even slight hold-ups can adversely impact staff members' wellness and have far-reaching consequences. Therefore, it's important to prioritize accurate and prompt payments.
payroll team get um so I'm uncertain anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an essential cycle we all hear about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done properly so leveraging the first International Payments first payroll payment service is a terrific first step um offering an end-to-end payroll solution for your employees worldwide once again I believe is another huge um procedure once again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely key to success success of organizations and minimizing the number of tools platforms and savings account 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 countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyhow 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 simple as possible for everybody that's involved in those processes and also so picture sorry I'm simply I was simply gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous 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 but it would definitely be an intriguing job attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and actually see what was going on and kind of shot to return to everyone so proceeding look why do companies choose to main separate checking account there are businesses out there doing precisely this for specific countries and I have actually worked in a business or many companies doing precisely that I can state it does not constantly feel efficient and it does develop more work I know we're not purposely doing that we're not producing additional work for any person where we do not need to and anyone that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the requirement I think individuals have got so utilized to we require a 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 think it's just been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and lots of other ways um to to sort of do it so I think there's a range I believe this is a procedure that requires taking a look at it requires changing however ultimately individuals are very stuck to what they recognize
with ideal um change is a tough thing we all don't like modification um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having preserving numerous savings account however there's a substantial quantity of intricacy opts for setting up a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the complexity is huge but I think the honest response is modification um people haven't had the ability to change or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I think it is understanding you know and there is a component of resistance to alter but we have actually 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 know what might almost be identified to be the next Century or so there is a lot to keep an eye on and this approach does present numerous challenges um so Johnny could you inform us about those obstacles yeah of course so there's a range 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 workers you are worthy of a corner office with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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