Find out more about Papaya Global.Knutsford ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and trustworthy method of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app enhances my payroll process, saving me a considerable quantity of time monthly. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
The Staff member Website provides workers with the ability to access and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages packages to international staff members despite the variety of employees in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source local benefits service providers in every country, develop local accounts and have a minimum number of staff members.
The HR abilities supplied by Global HR include numerous functions such as keeping an eye on trip time, making sure compliance, facilitating the procedure of welcoming new employees and bidding goodbye to leaving ones, providing a safe and secure online platform for storing workers' documents, and offering support for work permit procedures in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, overall work costs dispersed per area, overall employment expenses per cycle and much more.
environments around the world I offered leadership and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout the business managing and structure external relationships supporting Business customers and solutions in addition to functioning as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for most influential companies worldwide we supply payroll payments and workforce management to all worker enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon great evening depending upon where you are in the world it's lovely to satisfy 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 have actually 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 difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of various functions on the service provider side and likewise on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely dreary and I wish I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business maintain different
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is particularly useful for worldwide organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets offer a more structured option. 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 provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex obstacle for companies running globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll expenses to optimize working capital, and discover how streamlining global payroll payments can change them from a difficult task into a tactical property.
Managing payroll globally is a daunting job due to numerous regulations, compliance requirements, information security concerns, and banking rules. The sheer variety of employees and companies adds to the intricacy, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems frequently result in manual processes, information silos, and a lack of combination, leading to disparities and ineffectiveness. Regardless of living in a period of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to offer insights and solutions to streamline and optimize global payroll payments.
about it to give 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 rather honestly the more a business invests in worldwide payroll the less of a photo they see an absence of visibility also encompasses payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of worldwide businesses have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors badly interacted hires and terminations as well as absence management and system configurations and after that when you round all of it off and the information is delivered to the wrong place the typical cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they count on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties business face when they're paying to workers or otherwise that's an excellent concern I constantly toss this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be thought of 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 capabilities 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 developing a knowledge base is definitely crucial but all over you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to type of progress with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and financing teams work better together than ever um I'm always impressed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation 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 process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on well-being and the settlement landscape is ending up being increasingly elaborate. Companies are continuously introducing new benefits and payment options, which contributes to the general complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's technologically sophisticated era, there's no justification for maintaining troublesome treatments. Payroll, the business's most significant cost, must be processed correctly and on time. Even slight delays can adversely affect employees' well-being and have far-reaching effects. Therefore, it's important to focus on accurate and prompt payments.
payroll team get um so I'm not sure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle all of us find out about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment solution is an excellent primary step um providing an end-to-end payroll solution for your workers globally again I believe is another big um process once again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of services and lowering the variety of tools platforms and savings account they require for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of 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 problems where things haven't gone quite where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyway we understand how how important 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 envision sorry I'm just I was just gon na say envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and type of try to return to everyone so proceeding look why do companies pick to primary separate checking account there are businesses out there doing exactly this for particular nations and I've operated in a business or numerous organizations doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not creating additional work for any person where we do not have to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think many factors one is it's the standard I think people have actually got so utilized to we require 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 just been the standard and the standard the people have adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I think this is a procedure that needs taking a look at it needs changing but ultimately individuals are really stuck with what they're familiar
with right um change is a difficult thing all of us don't like modification um so I think it's simply kind 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 multiple bank accounts but there's a substantial quantity of intricacy goes with setting up a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for specific people so the intricacy is substantial but I think the truthful response is change um people haven't been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to keep track of and this approach does position a number of challenges um so Johnny could you inform us about those difficulties 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 Global employees you deserve a corner office with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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