Find out more about Papaya Global Payroll Admin ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly committed to handling payments. This provides us with a safe and trustworthy method of making payments to our 10,000 staff members worldwide.}
The innovative international payroll management app improves my payroll procedure, conserving me a considerable quantity of time every month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Staff member Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work files. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages packages to global staff members no matter the variety of workers in the business. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source regional benefits service providers in every nation, develop regional accounts and have a minimum variety of employees.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, total work costs distributed per place, overall employment expenses per cycle and much more.
environments around the world I provided management and strategy 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 across the business handling and structure external relationships supporting Enterprise clients and solutions along with functioning as an advisor for those of you that don't know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of prominent business on the planet we supply payroll payments and workforce management to all worker types in over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon great night depending upon where you are in the world it's beautiful to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've sort of had a variety of different roles on the provider side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating 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 everyone originates from and I actually 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 drizzling here it's extremely really uninspiring and I want I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business keep different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, discover how business forecast payroll costs to optimize working capital, and find how simplifying worldwide payroll payments can change them from a challenging job into a strategic asset.
Managing payroll worldwide is an overwhelming job due to various regulations, compliance requirements, data security issues, and banking guidelines. The sheer variety of workers and businesses adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and an absence of combination, causing inconsistencies and ineffectiveness. Regardless of residing in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to provide insights and services to simplify and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more an organization invests in worldwide payroll the less of an image they see an absence of exposure likewise reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of international businesses have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes inadequately communicated hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is shipped to the wrong place the average expense of a worldwide information breach at this moment is 3.9 billion dollars when 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 needed multiple processes systems and partners it is simply 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 employees or otherwise that's a good question I constantly toss this back and state what is it what doesn't require to be included right and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity wherever you look best ultimately developing a knowledge base is definitely critical however everywhere 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 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 basic and innovation is allowing us to sort of move forward with that it also also to add to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and financing teams work better together than ever um I'm always surprised when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation 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 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 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 important to add to type of the level of intricacy there's more and more benefits being organ or being provided by services throughout the world so again you're just wanting to include increasingly more payments to this already intricate 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 genuine challenges or genuine challenging sort of pay utilizes to play to pay people I think yeah I mean over the last well yeah a couple of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding info into the next function as it were that's really handling the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to create extra handoffs at the same times that we run in they simply make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and an age that you know that we are working in today there is no reason we are still making this as challenging as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from a cost perspective from an impact point of view on employees it is definitely vital that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant destructive effect on individuals's wellness and numerous other elements if individuals aren't paid uh I have actually constantly been amazed entering this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm unsure anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an important cycle all of us hear about it when it fails everybody 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment option is a terrific first step um supplying an end-to-end payroll service for your staff members internationally once again I believe is another huge um process once again aligning and guaranteeing you have standardization Global processes all of those things are absolutely essential to success success of businesses and lowering the number of tools platforms and bank accounts 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 five or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're suggested to be um I don't think any of us are really doing that for for the thanks
anyhow we understand how how important a role 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 associated with those processes and also so think of sorry I'm just I was just gon na say imagine the quantity 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 potentially Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true 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 carrying on look why do business pick to primary different savings account there are organizations out there doing precisely this for specific countries and I've worked in a company or many companies doing precisely that I can state it does not always feel efficient and it does create more work I know we're not purposely doing that we're not producing extra work for anybody where we do not need to and anyone that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the standard I think individuals have actually got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard 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 methods um to to sort of do it so I believe there's a range I think this is a process that requires looking at it requires changing but ultimately individuals are very stuck with what they're familiar
with best um change is a tough thing all of us don't like modification um so I think it's just kind 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 certainly the benefits of having keeping numerous savings account however there's a substantial quantity of complexity goes with establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the best user accesses for specific people so the intricacy is huge but I think the truthful response is change um people haven't had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to alter however we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or so there is a lot to keep an eye on and this method does posture several difficulties um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like 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 since I mastered Global payroll and payments with Papaya payroll OS did you
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