Find out more about Papaya Global Payroll Calculator Florida ... 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 obtained a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and reputable method of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and contractors
The Staff member Portal offers workers with the ability to gain access to and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive benefits packages to international staff members no matter the variety of workers in the company. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional advantages providers in every country, develop local accounts and have a minimum number of employees.
The HR capabilities offered by Global HR encompass different functions such as monitoring holiday time, guaranteeing compliance, facilitating the process of welcoming brand-new staff members and bidding farewell to leaving ones, providing a protected online platform for storing workers' documents, and supplying assistance for work permit treatments in case your workers require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall work expenses distributed per area, overall employment costs per cycle and much more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work across the business managing and structure external relationships supporting Enterprise customers and services as well as functioning as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a satisfaction to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I have actually type of had a variety of various functions on the supplier side and also on the vendor side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back these days 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 everybody is um it's nice to to sort of like see where everyone originates from and I actually 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 really bleak and I want 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 taking a look at the challenge years of managing Worldwide payroll why companies keep different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll likewise discuss a wrap-up which needs to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more common and handling them ends up being a growing number of complicated Global organizations are wanting to find Solutions and new ways to streamline procedures specifically from a payroll and cross-border payment standpoint many organizations keep separate bank account just for payroll while some have multiple accounts in different nations does it make good sense for business to keep different bank accounts often in various countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international business streamline the episode complex procedures of
Ensuring accurate, efficient, and prompt payroll payments is a complex obstacle for services running worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business forecast payroll expenses to optimize working capital, and find how simplifying international payroll payments can transform them from a challenging job into a strategic possession.
Handling payroll globally is a challenging job due to various policies, compliance requirements, data security concerns, and banking rules. The large variety of staff members and businesses contributes to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and a lack of integration, causing inconsistencies and inadequacies. Despite living in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to supply insights and services to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more a company invests in global payroll the less of a photo they see a lack of presence likewise extends to payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of worldwide organizations have revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes badly interacted hires and terminations along with absence management and system setups and then when you round it all off and the data is shipped to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they rely on the essential several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's a great concern I constantly toss 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 differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities 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 customer's own in-country account so there's intricacy anywhere you look best ultimately building a knowledge base is definitely vital however all over you look with payroll payment they are like super payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and innovation is permitting us to sort of progress with that it likewise also to add to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is definitely imperative that payroll and financing teams work more detailed together than ever um I'm always impressed when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market 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 individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to add to sort of the level of complexity there's more and more benefits being organ or being used by organizations across the world so once again you're simply aiming to include increasingly more payments to this currently complicated landscape so if you sort of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or genuine tough sort of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a number of decades I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding info into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we require to develop extra handoffs while doing sos that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and an age that you know that we are operating in today there is no reason we are still making this as challenging as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any business has from a cost perspective from an effect viewpoint on workers it is definitely vital that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive impact on people's well-being and many other elements if individuals aren't paid uh I've always been amazed entering into this Market sort of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's viewed externally too. For that reason, it is necessary to guarantee that tasks like Wi-Fi Global and other essential matters are done properly. Using the first Global Payments very first payroll payment solution is a terrific preliminary step towards supplying a comprehensive payroll option for employees worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and checking account required for international payroll are key consider achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things do not go as planned. Ultimately, we don't do it for the thankfulness.
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 everyone that's associated with those processes and likewise so imagine sorry I'm just I was simply gon na state think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and kind of try to return to everybody so carrying on look why do companies pick to main different bank accounts there are organizations out there doing precisely this for particular countries and I've worked in a service or many companies doing precisely that I can state it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not developing additional work for anyone where we do not have to and anyone 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 amount that we are I believe numerous reasons one is it's the requirement I think people have got so used to we need a brand-new savings account we open an entity and appropriately so you need it for payroll purposes 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 adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I believe this is a process that needs taking a look at it needs changing but ultimately people are really stuck with what they're familiar
with ideal um change is a tough thing we all do not like change um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having maintaining several checking account but there's a big quantity of complexity goes with establishing a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the best user accesses for private people so the complexity is substantial but I think the truthful answer is modification um individuals have not been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century or two there is a lot to track and this approach does present numerous obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this boosted ability, I have successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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