Find out more about Papaya Global Payroll App ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and dependable method of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Worker Website provides workers with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps companies provide competitive benefits bundles to global workers despite the number of employees in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the need to source local advantages companies in every nation, develop local accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall work costs distributed per location, overall employment costs per cycle and much more.
environments across the globe I provided management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work across the business managing and structure external relationships supporting Enterprise clients and services as well as acting as a consultant for those of you that do not understand who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for most prominent business in the world we offer payroll payments and workforce management to all staff member enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon excellent night depending upon where you are in the world it's beautiful to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I have actually kind of had a range of various functions on the provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just give everybody another couple 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 quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely uninspiring and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies keep different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll also discuss a wrap-up which should leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of common and managing them ends up being increasingly more intricate International companies are wanting to discover Solutions and new methods to simplify processes particularly from a payroll and cross-border payment perspective lots of organizations preserve separate checking account just for payroll while some have several accounts in different countries does it make good sense for companies to keep different bank accounts in some cases in various nations it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business improve the episode complex processes of
Guaranteeing accurate, effective, and prompt payroll payments is a complex obstacle for companies running worldwide. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, discover how companies anticipate payroll costs to enhance working capital, and discover how streamlining worldwide payroll payments can change them from a troublesome job into a tactical possession.
Handling payroll worldwide is a challenging task due to numerous guidelines, compliance requirements, data security issues, and banking guidelines. The large number of staff members 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.
Conventional payroll systems typically result in manual procedures, information silos, and an absence of combination, leading to disparities and ineffectiveness. Regardless of living in an age of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to provide insights and services to streamline and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a service spends on global payroll the less of an image they see an absence of exposure also reaches payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of international businesses have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors poorly communicated hires and terminations in addition to lack management and system configurations and then when you round it all off and the data is delivered to the wrong location the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they count on the essential several processes 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 organization face when they're making payments to employees or otherwise that's an excellent concern I always throw this back and state what is it what doesn't require to be consisted of best and what does
it require to be thought about there's varying Bank details 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 need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look right ultimately building a knowledge base is absolutely important however all over you look with payroll payment they are like extremely payments no if but 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 absolutely fundamental and innovation is permitting us to sort of move on with that it likewise also to add to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely important that payroll and financing teams work more detailed together than ever um I'm always astonished when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide 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 information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on wellness and the compensation landscape is becoming increasingly complex. Organizations are continuously presenting new benefits and payment options, which contributes to the total complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to inefficiencies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technologically sophisticated era, there's no reason for maintaining cumbersome procedures. Payroll, the business's greatest expenditure, should be processed correctly and on time. Even small hold-ups can negatively impact staff members' well-being and have significant repercussions. For that reason, it's vital to focus on precise and timely payments.
payroll group get um so I'm not sure anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just 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 important that all of this stuff is done properly so leveraging the very first International Payments very first payroll payment option is an excellent first step um supplying an end-to-end payroll service for your employees globally again I think is another big um process once again lining up and ensuring you have standardization International processes all of those things are definitely key to success success of businesses and reducing the variety of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless 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 problems where things haven't gone quite where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyway we know how how essential a function it is which'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 procedures and also so picture sorry I'm just I was just gon na say envision 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 talking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and kind of shot to return to everybody so moving on appearance why do companies choose to main separate savings account there are businesses out there doing exactly this for particular nations and I have actually worked in a service or many services doing precisely that I can say it does not always feel effective and it does produce more work I understand we're not purposely doing that we're not producing additional work for anybody where we do not need to and anyone that's handling that process 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 believe lots of factors one is it's the standard I believe individuals have actually got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by to add to that people have actually looked 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 think this is a process that needs taking a look at it needs changing however ultimately people are extremely stuck to what they're familiar
with best um modification is a tough thing all of us do not like change um so I believe it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having preserving several bank accounts but there's a huge quantity of intricacy opts for establishing a checking account maintaining it guaranteeing it can send International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is substantial however I think the truthful response is modification um individuals have not had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or so there is a lot to track and this method does posture a number of challenges um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I recently made a change 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 ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your achievements.
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