Find out more about Papaya Global Payroll Erc ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a secure and trusted technique of making payments to our 10,000 employees worldwide.}
The innovative worldwide payroll management app improves my payroll process, conserving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Employee Website
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to international employees regardless of the variety of staff members in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source regional benefits companies in every nation, develop regional accounts and have a minimum number of staff members.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, total work costs distributed per location, total employment expenses per cycle and a lot more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work across the business handling and structure external relationships supporting Business clients and options in addition to functioning as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for most prominent business on the planet we supply payroll payments and workforce management to all worker types in over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent evening depending on where you remain in the world it's lovely to satisfy 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 remained in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of various functions on the provider side and likewise on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays 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 everybody is um it's nice to to sort 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 sunlight is it it's not no it's it's drizzling here it's really extremely uninspiring and I want I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies keep separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and prompt payroll payments is a complex challenge for companies operating internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, discover how companies forecast payroll costs to optimize working capital, and discover how streamlining international payroll payments can transform them from a challenging job into a tactical possession.
Handling payroll internationally is a daunting task due to numerous policies, compliance requirements, data security issues, and banking rules. The large number of workers and businesses adds to the complexity, with an approximated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems often result in manual procedures, data silos, and an absence of combination, leading to inconsistencies and inefficiencies. In spite of residing in an age of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to offer insights and options to simplify and optimize international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in worldwide payroll the less of an image they see a lack of exposure also encompasses payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of global businesses have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors improperly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the data is delivered to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles company face when they're making payments to staff members or otherwise that's a great question I always throw this back and say what is it what does not require to be included right and what does
it require to be considered there's varying Bank information 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 need to pay from the customer's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is definitely critical but all over 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 between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to type of progress with that it also too to add to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup processes is absolutely important that payroll and financing groups work closer together than ever um I'm always astonished when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically 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 any place they are but also paying statutory authorities and on statutory third parties so with the
The modern world places a high value on well-being and the payment landscape is ending up being progressively elaborate. Organizations are constantly introducing new advantages and payment choices, which adds to the total intricacy. Big corporations often divide their payroll and payment processing into different groups, which can cause inadequacies and bottlenecks. In my opinion, this does not need to hold true. In today's technologically sophisticated period, there's no justification for keeping cumbersome procedures. Payroll, the business's greatest expenditure, must be processed correctly and on time. Even small hold-ups can adversely affect employees' well-being and have far-reaching effects. Therefore, it's critical to focus on precise and timely payments.
payroll group get um so I'm not sure anyone on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done properly so leveraging the very first Global Payments first payroll payment solution is a fantastic primary step um providing an end-to-end payroll service for your employees worldwide again I believe is another substantial um process again lining up and guaranteeing you have standardization International procedures all of those things are definitely key to success success of businesses and minimizing the number of tools platforms and bank accounts they need for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyway we understand how how crucial 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 simple as possible for everybody that's involved in those processes and likewise so think of sorry I'm simply I was just gon na say envision 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 hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting task trying to clean up 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 require days of the week to attempt to browse them and really see what was going on and type of shot to get back to everyone so moving on look why do business select to main separate bank accounts there are services out there doing precisely this for specific nations and I've operated in a business or lots of services doing exactly that I can state it does not always feel effective and it does develop more work I know we're not purposely doing that we're not developing additional work for any person where we don't 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 amount that we are I think many reasons one is it's the requirement I believe individuals have got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll purposes however 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 gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I think this is a process that needs looking at it needs changing but eventually people are extremely stuck with what they're familiar
with best um change is a challenging thing all of us do not like modification um so I think it's simply kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having maintaining multiple checking account however there's a huge quantity of complexity goes with setting up a bank account maintaining it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for specific people so the intricacy is huge however I think the honest response is change um people haven't been able to alter or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we have actually always 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 might practically be figured out to be the next Century or so there is a lot to monitor and this method does posture numerous challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I just 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 Worldwide staff members you deserve a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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