Find out more about Papaya Global Management ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and reputable method of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Employee Portal
Employees have access to a Worker Website where they can view their pay slips, wage and tax declarations and work documents. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive advantages plans to international employees despite the number of workers in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source regional benefits providers in every country, produce local accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment costs distributed per location, overall employment costs per cycle and a lot more.
environments across the globe I offered management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work across business handling and building external relationships supporting Business clients and services in addition to acting as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for most prominent business worldwide we offer payroll payments and workforce management to all employee enters over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon great evening depending upon where you remain in the world it's charming to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually kind of had a range of different roles on the supplier side and likewise on the vendor side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everybody another number 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 rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody comes from and I really do hope it's much sunnier than it remains 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 very extremely bleak and I wish I was elsewhere at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies keep different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll also go over a recap which ought to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more common and handling them ends up being increasingly more complicated Global companies are looking to discover Solutions and new ways to improve procedures particularly from a payroll and cross-border payment perspective many companies maintain different savings account just for payroll while some have multiple accounts in various countries does it make good sense for companies to maintain different bank accounts sometimes in various nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business streamline the episode complex procedures of
Guaranteeing 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 drawbacks of payroll wallets versus payroll bank accounts, discover how business anticipate payroll expenses to enhance working capital, and find how simplifying global payroll payments can change them from a burdensome job into a tactical property.
Handling payroll worldwide is an overwhelming job due to various guidelines, compliance requirements, information security concerns, and banking rules. The large number of employees and organizations contributes to the complexity, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of integration, leading to inconsistencies and inefficiencies. Regardless of living in an age of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to supply insights and solutions to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information 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 a lack of visibility also reaches payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction almost half of international businesses have actually revealed that they do not 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 information data entry errors badly interacted hires and terminations in addition to lack management and system setups and after that when you round all of it off and the information is shipped to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they count on the necessary 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 service face when they're paying to employees or otherwise that's a good question I always throw this back and say what is it what doesn't need to be included best and what does
it require to be thought of there's differing Bank details 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 need to pay from the client's own in-country account so there's intricacy wherever you look right eventually building a knowledge base is definitely critical however all over you look with payroll payment they are like very payments no if but some infants 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 believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to kind of move forward with that it also too to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and finance groups work more detailed together than ever um I'm constantly impressed when people say I have actually split 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 divide the payroll payment from calculation 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 procedure it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high value on wellness and the compensation landscape is becoming progressively elaborate. Organizations are constantly presenting new benefits and payment alternatives, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my viewpoint, this does not have to be the case. In today's highly sophisticated age, there's no reason for preserving cumbersome treatments. Payroll, the company's greatest cost, should be processed properly and on time. Even minor delays can adversely affect workers' well-being and have significant repercussions. Therefore, it's crucial to focus on precise and timely payments.
payroll team get um so I'm unsure anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe 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 stuff is definitely essential that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment solution is a great primary step um offering an end-to-end payroll solution for your employees worldwide again I think is another big um procedure again aligning and ensuring you have standardization International procedures all of those things are absolutely essential to success success of organizations and decreasing the number of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're implied 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 associated with those procedures and likewise so envision sorry I'm simply I was just gon na say imagine 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 talking about numerous thousands possibly Millions picture getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job trying to clean up 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 attempt to look through them and in fact see what was going on and sort of try to return to everyone so moving on appearance why do companies choose to main separate savings account there are services out there doing precisely this for specific nations and I have actually worked in a business or lots of businesses doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not creating extra work for any person where we don't need to and any person that's managing 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 lots of reasons one is it's the standard I think individuals have got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually 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 lots of other ways um to to sort of do it so I believe there's a range I believe this is a process that requires taking a look at it needs changing but eventually individuals are very stuck with what they recognize
with right um change is a hard thing all of us do not like modification um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having preserving multiple savings account however there's a big quantity of complexity opts for setting up a checking account preserving it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for individual individuals so the complexity is substantial but I think the truthful answer is modification um people haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to alter but we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be determined to be the next Century or two there is a lot to monitor and this approach does position several challenges um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I simply did you changed 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 Global employees you deserve a corner workplace with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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