Find out more about Papaya Global Mission ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This provides us with a protected and reliable method of paying to our 10,000 workers worldwide.}
The innovative international payroll management app improves my payroll procedure, conserving me a considerable quantity of time monthly. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Employee Portal
Workers have access to an Employee Portal where they can view their pay slips, wage and tax statements and employment files. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to international employees no matter the number of staff members in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source local advantages companies in every country, produce regional accounts and have a minimum number of employees.
The HR abilities offered by Worldwide HR incorporate numerous functions such as keeping an eye on trip time, ensuring compliance, assisting in the process of inviting brand-new workers and bidding goodbye to departing ones, offering a safe online platform for keeping employees' files, and providing support for work permit treatments in case your staff members require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total work expenses dispersed per location, overall employment expenses per cycle and far more.
environments around the world I offered management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business managing and structure external relationships supporting Business clients and options along with acting as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As a global business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We focus on providing payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually constantly captivated me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a variety of various functions on the supplier side and also on the vendor side from a payroll viewpoint 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 offer everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone 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 very extremely uninspiring and I want I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why business maintain separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly useful for global companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and timely payroll payments is a complex obstacle for businesses operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, learn how companies forecast payroll costs to enhance working capital, and discover how improving worldwide payroll payments can transform them from a challenging job into a strategic asset.
Handling payroll globally is a daunting job due to various regulations, compliance requirements, data security issues, and banking guidelines. The sheer variety of employees and companies adds to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems typically result in manual processes, data silos, and an absence of combination, causing disparities and ineffectiveness. Regardless of residing in an era of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to offer insights and solutions to simplify and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization invests in worldwide payroll the less of a photo they see an absence of presence also reaches payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of global services have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes badly interacted hires and terminations as well as lack management and system configurations and after that when you round all of it off and the information is delivered to the incorrect location the average cost of a worldwide 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 don't run smoothly if they depend on the needed several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles service face when they're making payments to staff members or otherwise that's a great question I constantly throw this back and state what is it what does not require to be consisted of best and what does
it require 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 timespan there's payment abilities 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 intricacy anywhere you look right ultimately developing a knowledge base is definitely crucial however all over you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 fundamental and innovation is permitting us to kind of progress with that it also also to contribute to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely important that payroll and finance groups work better together than ever um I'm constantly impressed when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation 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 frequently 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 people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more important to contribute to kind of the level of complexity there's increasingly more advantages being organ or being provided by organizations throughout the world so once again you're just seeking to include a growing number of payments to this already complex landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real challenges or real difficult sort of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a number of years I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding details into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and a period that you know that we are operating in today there is no reason that we are still making this as hard as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from a cost point of view from an effect perspective on workers it is definitely crucial that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest harmful effect on individuals's wellness and many other aspects if people aren't paid uh I have actually always been impressed entering into this Market kind of the last five to ten years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only see when things go wrong. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally as well. For that reason, it is important to make sure that jobs like Wi-Fi International and other essential matters are done properly. Utilizing the first International Payments very first payroll payment service is a terrific initial action towards offering a detailed payroll option for workers worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and savings account necessary for global payroll are key factors in accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things don't go as planned. Eventually, we don't do it for the thankfulness.
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 simple as possible for everyone that's involved in those processes and likewise so think of sorry I'm just I was simply gon na state envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task trying to clean up all those up for sure oh absolutely I can't imagine 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 really see what was going on and sort of try to return to everybody so carrying on look why do business pick to main separate bank accounts there are organizations out there doing precisely this for particular nations and I've operated in a company or numerous businesses doing exactly that I can state it does not constantly feel effective and it does create more work I know we're not intentionally doing that we're not developing extra work for anyone 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 believe numerous reasons one is it's the requirement I believe individuals have actually got so utilized to we require a brand-new checking account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other methods um to to type of do it so I think there's a variety I believe this is a procedure that needs looking at it requires altering but ultimately people are extremely stuck with what they're familiar
with right um modification is a hard thing we all don't like modification um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having preserving multiple bank accounts but there's a huge quantity of complexity opts for establishing a bank account preserving it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is huge but I think the sincere answer is modification um individuals have not been able to alter or haven't had always the knowledge to really make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could practically be identified to be the next Century or two there is a lot to keep an eye on and this method does posture a number of obstacles um so Johnny might you tell us about those challenges yeah obviously so there's a range 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 workers you should have a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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