Find out more about Papaya Global Payroll Fees ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and trusted technique of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app improves my payroll process, conserving me a substantial amount of time each month. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Staff member Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment files. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to worldwide workers no matter the variety of workers in the business. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local benefits suppliers in every nation, produce local accounts and have a minimum number of staff members.
The HR capabilities provided by Global HR include different functions such as keeping track of holiday time, ensuring compliance, facilitating the process of inviting new employees and bidding goodbye to departing ones, offering a safe online platform for storing workers' documents, and providing assistance for work allow procedures in case your workers need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work expenses dispersed per place, total work costs per cycle and much more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout business managing and building external relationships supporting Business customers and options in addition to serving as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past seven years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually type of had a range of different functions on the service provider side and likewise on the supplier side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really 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 wish I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies maintain separate
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and timely payroll payments is a complex obstacle for services operating internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and discover how streamlining international payroll payments can transform them from a difficult task into a tactical property.
Managing payroll worldwide is a daunting job due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The sheer variety of workers and companies adds to the complexity, with an approximated 3.5 billion individuals in the global labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual procedures, information silos, and a lack of integration, leading to disparities and inadequacies. Despite living in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and services to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather frankly the more a business spends on international payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide companies have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors inadequately interacted hires and terminations along with lack management and system configurations and after that when you round everything off and the data is shipped to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the needed 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 challenges service face when they're making payments to employees or otherwise that's a great question I constantly toss this back and state what is it what does not require to be consisted of ideal and what does
it need to be considered 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 have to pay from the client's own in-country account so there's intricacy wherever you look ideal ultimately building a knowledge base is absolutely vital however all over you look with payroll payment they resemble incredibly payments no if however some babies 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 think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is allowing us to sort of move forward with that it also also to contribute to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely imperative that payroll and finance teams work more detailed together than ever um I'm constantly surprised when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not 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 eventually 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 however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high worth on well-being and the payment landscape is ending up being increasingly complex. Businesses are continuously introducing new advantages and payment alternatives, which adds to the general intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can lead to inefficiencies and bottlenecks. In my opinion, this does not need to be the case. In today's technically sophisticated period, there's no validation for preserving troublesome procedures. Payroll, the company's greatest expense, should be processed properly and on time. Even minor delays can adversely impact employees' wellness and have significant effects. Therefore, it's vital to focus on accurate and prompt payments.
payroll team get um so I'm unsure anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think 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 important that all of this things is done correctly so leveraging the first Global Payments very first payroll payment service is a terrific primary step um supplying an end-to-end payroll option for your staff members globally again I think is another substantial um process again lining up and ensuring you have standardization Worldwide processes all of those things are definitely key to success success of services and decreasing the number of tools platforms and bank accounts they need for their Global 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 have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're suggested to be um I don't think 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 processes and likewise so picture sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions think of 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 intriguing task attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and kind of try to return to everybody so moving on appearance why do companies select to main different checking account there are businesses out there doing precisely this for particular countries and I have actually operated in an organization or many businesses doing precisely that I can say it doesn't always feel effective and it does develop more work I understand we're not deliberately doing that we're not developing extra work for any person where we don't have to and anyone that's managing that procedure 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 factors one is it's the standard I think people have got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other ways um to to type of do it so I think there's a range I believe this is a process that requires looking at it requires changing but ultimately people are extremely stuck with what they recognize
with right um change is a challenging thing we all don't like change um so I believe it's just type of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having maintaining numerous savings account however there's a substantial quantity of complexity opts for establishing a savings account keeping it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private people so the intricacy is big but I think the truthful answer is modification um individuals haven't been able to alter or haven't had necessarily the knowledge to truly 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 know and there is an aspect of resistance to change however we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to keep an eye on and this method does position numerous 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 handle our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your achievements.
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