Find out more about Papaya Global Kraków Opinię ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to managing payments. This provides us with a secure and reliable method of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Staff member Website offers staff members with the capability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Benefits Administration
Papaya Global assists business provide competitive benefits packages to global staff members no matter the number of employees in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages companies in every nation, develop regional accounts and have a minimum variety of staff members.
The HR capabilities provided by International HR include various functions such as keeping track of vacation time, ensuring compliance, helping with the procedure of welcoming new employees and bidding goodbye to leaving ones, offering a secure online platform for storing employees' documents, and supplying support for work allow procedures in case your employees need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total employment expenses dispersed per location, total work expenses per cycle and far more.
environments around the world I offered leadership 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 throughout business handling and structure external relationships supporting Business customers and options as well as acting as a consultant for those of you that don't understand who papaya Worldwide 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 business worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade 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 always mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've sort of had a range of different roles on the provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently 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 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 extremely extremely bleak and I want I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a strategic asset uh we'll also review a recap and that ought to leave his time at the very extremely 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 labor forces become more and more typical and handling them ends up being a growing number of complicated Worldwide organizations are seeking to discover Solutions and new ways to streamline procedures especially from a payroll and cross-border payment viewpoint lots of organizations maintain different bank account just for payroll while some have several accounts in different countries does it make sense for companies to maintain separate savings account often in various nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational business streamline the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for companies operating globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to enhance working capital, and discover how simplifying global payroll payments can change them from a difficult task into a tactical property.
Handling payroll globally is a difficult job due to numerous guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer variety of employees and services contributes to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems often result in manual processes, information silos, and an absence of combination, causing disparities and ineffectiveness. Regardless of living in an age of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to supply insights and solutions to simplify and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that provides me sleepless nights and quite frankly the more a service invests in global payroll the less of a photo they see a lack of presence also encompasses payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide services have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes poorly communicated hires and terminations in addition to absence management and system configurations and after that when you round everything off and the data is shipped to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they depend on the required multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're paying to employees or otherwise that's a great concern I always toss this back and state what is it what doesn't need to be included best and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity anywhere you look ideal ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is permitting us to kind of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely imperative that payroll and financing groups work better together than ever um I'm constantly surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation 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 data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on well-being and the settlement landscape is becoming significantly elaborate. Services are continually introducing brand-new benefits and payment alternatives, which contributes to the total complexity. Large corporations frequently divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this does not need to be the case. In today's technically sophisticated era, there's no justification for preserving cumbersome treatments. Payroll, the business's greatest expenditure, need to be processed correctly and on time. Even minor hold-ups can adversely impact employees' well-being and have significant repercussions. For that reason, it's vital to prioritize precise and prompt payments.
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just see when things go wrong. However, when things go right, it's seen as simply a routine task. This is how it's viewed externally as well. For that reason, it is necessary to ensure that tasks like Wi-Fi Global and other important matters are done correctly. Using the very first International Payments very first payroll payment option is an excellent preliminary step towards offering an extensive payroll solution for workers worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and savings account required for global payroll are crucial factors in attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as prepared. Eventually, we don't do it for the appreciation.
anyway we know how how essential 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 procedures and likewise so imagine sorry I'm just I was just gon na state think of the amount 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 possibly Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and in fact see what was going on and sort of try to return to everybody so carrying on look why do companies pick to primary separate checking account there are organizations out there doing exactly this for particular nations and I've worked in a company or numerous organizations doing exactly that I can say it doesn't always feel effective and it does produce more work I understand we're not intentionally doing that we're not producing additional work for any person where we do not have to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I believe individuals have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have adopted and continue to do over years and years gone past to contribute to that people 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 believe this is a procedure that needs looking at it needs altering but eventually people are really stuck with what they're familiar
with best um change is a tough thing we all don't like change um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having preserving multiple checking account however there's a huge quantity of complexity goes with establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for private people so the complexity is substantial however I believe the honest answer is change um individuals have not had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we've constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century approximately there is a lot to monitor and this technique does present several obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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