Find out more about Papaya Global Os ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a protected and trusted method of making payments to our 10,000 workers worldwide.}
The advanced worldwide payroll management app streamlines my payroll procedure, saving me a significant amount of time every month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Worker Website
Staff members have access to an Employee Website where they can view their pay slips, wage and tax declarations and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive benefits packages to global employees no matter the variety of employees in the company. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional advantages companies in every nation, develop local accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, overall work costs dispersed per location, overall employment expenses per cycle and far more.
environments around the world I provided management and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business handling and structure external relationships supporting Enterprise clients and solutions in addition to functioning as an advisor for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's an enjoyment to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
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 different functions on the provider side and also on the supplier side from a payroll point of view so actually anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather 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 comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely dreary and I want I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya International payroll payments as a tactical property uh we'll also go over a recap which should leave his time at the really very end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more typical and handling them becomes a growing number of intricate Global companies are looking to discover Solutions and new methods to streamline procedures especially from a payroll and cross-border payment perspective many companies preserve different savings account just for payroll while some have numerous accounts in different nations does it make good sense for business to preserve different bank accounts in some cases in various nations it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies streamline the episode complex procedures of
Making sure precise, efficient, and prompt payroll payments is a complex obstacle for services running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, learn how business forecast payroll costs to optimize working capital, and discover how improving international payroll payments can transform them from a troublesome task into a strategic possession.
Handling payroll globally is a complicated task due to various guidelines, compliance requirements, data security issues, and banking rules. The sheer number of workers and companies adds to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and a lack of combination, causing inconsistencies and ineffectiveness. Despite living in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to offer insights and solutions to streamline and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that offers me sleepless nights and quite frankly the more a company invests in global payroll the less of an image they see a lack of presence likewise reaches payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction almost half of international businesses have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes poorly communicated hires and terminations as well as absence management and system setups and after that when you round it all off and the data is shipped to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments don't run efficiently if they count on the essential several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're paying to workers or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be consisted of right and what does
it need 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 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 client's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind 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 enabling us to kind of progress with that it likewise as well to add to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely necessary that payroll and financing teams work more detailed together than ever um I'm always surprised when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of crucial to add to sort of the level of intricacy there's a growing number of advantages being organ or being provided by services throughout the world so once again you're simply looking to include more and more payments to this currently intricate landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real obstacles or real difficult sort of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding details into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to produce extra handoffs while doing sos that we run in they simply make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason why we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any service has from a cost viewpoint from an impact perspective on workers it is definitely crucial that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful impact on individuals's wellness and numerous other aspects if individuals aren't paid uh I've always been surprised coming into this Market kind of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only see when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's perceived externally also. Therefore, it is essential to guarantee that tasks like Wi-Fi International and other vital matters are done correctly. Using the first International Payments first payroll payment service is a great preliminary action towards providing an extensive payroll solution for staff members worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and savings account required for international payroll are essential factors in accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems 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 easy as possible for everybody that's involved in those processes and likewise so picture sorry I'm just I was just gon na say picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions imagine getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job trying to clean up 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 require days of the week to try to check out them and really see what was going on and kind of shot to get back to everyone so proceeding appearance why do business choose to primary different bank accounts there are organizations out there doing precisely this for particular nations and I have actually operated in a business or lots of businesses doing precisely that I can state it does not always feel effective and it does develop more work I understand we're not deliberately doing that we're not producing additional work for anyone where we do not need to and anybody that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe many reasons one is it's the standard I believe individuals have got so used to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I think this is a process that requires looking at it needs altering however eventually people are really stuck to what they recognize
with best um change is a difficult thing all of us do not like modification um so I believe it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having preserving numerous savings account but there's a substantial amount of complexity goes with establishing a bank account maintaining it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for private individuals so the complexity is big however I think the sincere answer is change um individuals have not had the ability to alter or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century approximately there is a lot to track and this technique does posture several obstacles um so Johnny could you inform us about those difficulties yeah of course so there's a range 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 International workers you should have a corner office with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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