Find out more about Papaya Global Payroll For Employees ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and secure and dependable method of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
The Staff member Portal supplies workers with the ability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is offered in various languages.
Advantages Administration
Papaya Global assists business provide competitive advantages packages to international employees no matter the number of workers in the business. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every country, create regional accounts and have a minimum variety of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total work costs distributed per area, overall employment expenses per cycle and far more.
environments across the globe I provided management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business handling and building external relationships supporting Business customers and services along with functioning as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for many influential business worldwide we provide payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great evening depending on where you remain in the world it's lovely to meet 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 have actually remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was amazed by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I've type of had a variety of different functions on the supplier side and also on the vendor side from a payroll perspective 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 offer everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone comes 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 drizzling here it's extremely extremely dreary and I wish I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll likewise go over a recap which ought to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more typical and managing them ends up being increasingly more complex Worldwide companies are seeking to discover Solutions and brand-new methods to simplify processes specifically from a payroll and cross-border payment perspective lots of organizations preserve separate checking account just for payroll while some have several accounts in various countries does it make good sense for business to keep different checking account in some cases in various nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies simplify the episode complex procedures of
Ensuring precise, efficient, and timely payroll payments is a complex obstacle for organizations running globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, discover how companies anticipate payroll expenses to enhance working capital, and find how simplifying worldwide payroll payments can change them from a burdensome job into a tactical possession.
Managing payroll internationally is an overwhelming job due to various policies, compliance requirements, information security issues, and banking guidelines. The large number of workers and services contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems typically lead to manual processes, data silos, and a lack of combination, leading to disparities and ineffectiveness. In spite of residing in a period of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to supply insights and services to streamline and optimize 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 say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more a business spends on global payroll the less of an image they see an absence of visibility also reaches payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of global services have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors improperly communicated hires and terminations as well as lack management and system setups and after that when you round everything off and the data is shipped to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe 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 viewpoint and in your experience what else requires to be factored into the difficulties service face when they're paying to employees or otherwise that's a great concern I constantly toss this back and say what is it what doesn't need to be consisted of ideal and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities 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 consumer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is definitely crucial however all over you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort of link in 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 technology is allowing us to type of move on with that it likewise also to add to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely vital that payroll and finance groups work closer together than ever um I'm constantly surprised when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone 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 an industry accept that why our payroll and payments so often 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 anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more crucial to contribute to type of the level of intricacy there's more and more benefits being organ or being offered by companies across the world so once again you're just seeking to add increasingly more payments to this currently intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real difficulties or genuine difficult kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a number of years I would absolutely say that the larger a company 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 groups feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we need to produce extra handoffs at the same times that we run in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and a period 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 agreed and rightly as you said payroll is the single biggest liability that any business has from an expense perspective from an impact viewpoint on employees it is definitely critical that it's done correctly and on time so what we imply 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 damaging effect on individuals's wellness and numerous other factors if individuals aren't paid uh I have actually always been impressed coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just observe when things fail. However, when things go right, it's seen as simply a routine task. This is how it's perceived externally as well. For that reason, it is essential to ensure that tasks like Wi-Fi International and other essential matters are done properly. Using the first Worldwide Payments first payroll payment service is an excellent initial step towards providing an extensive payroll service for employees worldwide. Standardization, international procedures, and minimizing the number of tools, platforms, and bank accounts essential for international payroll are crucial consider accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints 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 simple as possible for everybody that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na state imagine 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 discussing hundreds of thousands potentially Millions envision getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting 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 need days of the week to try to check out them and actually see what was going on and kind of try to get back to everybody so proceeding look why do companies choose to main separate savings account there are services out there doing precisely this for specific nations and I have actually worked in an organization or lots of services doing precisely that I can state it does not always feel effective and it does produce more work I understand we're not purposely doing that we're not producing extra work for anyone where we don't have to and any person 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 think many factors one is it's the standard I believe individuals have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I think this is a procedure that requires taking a look at it requires changing but ultimately individuals are very stuck to what they recognize
with ideal um modification is a hard thing all of us don't like modification um so I believe it's simply type of moving far 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 maintaining multiple savings account however there's a substantial quantity of complexity goes with setting up a bank account maintaining it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for individual individuals so the intricacy is substantial however I think the honest answer is modification um people have not had the ability to change or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter but we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century or two there is a lot to track and this approach does pose a number of challenges um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has gained another CFO, and with this boosted capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your achievements.
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