Find out more about Papaya Global Payroll Google Reviews ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a secure and trustworthy approach of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app streamlines my payroll procedure, conserving me a considerable amount of time monthly. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Employee Website
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and work documents. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies use competitive benefits packages to international staff members no matter the variety of workers in the company. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits providers in every country, create local accounts and have a minimum variety of employees.
The HR abilities provided by International HR encompass numerous functions such as keeping track of holiday time, guaranteeing compliance, facilitating the procedure of welcoming new employees and bidding farewell to leaving ones, using a protected online platform for keeping employees' files, and supplying assistance for work permit procedures in case your staff members need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment expenses distributed per place, total work expenses per cycle and a lot 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 methods for as Mark said I work across the business handling and structure external relationships supporting Business 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 a global business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We focus on supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a pleasure to meet 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 years of experience in the payments industry, I have actually focused on payroll and payment options for the past seven years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually type of had a variety of different functions on the service provider side and also on the vendor side from a payroll point of view so really looking forward to this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really really uninspiring and I want I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll likewise go over a wrap-up and that ought to leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more common and handling them becomes more and more complex Global organizations are aiming to find Solutions and new ways to enhance processes especially from a payroll and cross-border payment perspective lots of companies maintain separate checking account just for payroll while some have multiple accounts in different nations does it make good sense for business to preserve separate bank accounts often in various nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international companies streamline the episode complex procedures of
Ensuring accurate, efficient, and prompt payroll payments is a complex obstacle for companies running worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how business anticipate payroll costs to enhance working capital, and discover how simplifying international payroll payments can change them from a burdensome task into a tactical possession.
Managing payroll worldwide is a challenging job due to numerous regulations, compliance requirements, information security concerns, and banking rules. The sheer variety of workers and companies contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual processes, information silos, and an absence of combination, resulting in disparities and inadequacies. In spite of living in a period of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to provide insights and solutions to streamline and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a service spends on global payroll the less of a photo they see a lack of presence likewise extends to payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide companies have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors badly communicated hires and terminations as well as absence management and system setups and then when you round it all off and the data is delivered to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they rely on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're paying to workers or otherwise that's a good question I constantly throw this back and state what is it what doesn't need to be included ideal and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 need to pay from the customer's own in-country account so there's complexity anywhere you look best eventually developing a knowledge base is absolutely crucial however everywhere you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 basic and innovation is permitting us to kind of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely important that payroll and financing teams work more detailed together than ever um I'm always amazed when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation 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 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 likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on wellness and the payment landscape is ending up being progressively elaborate. Services are continuously presenting new advantages and payment choices, which contributes to the overall complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't need to hold true. In today's technically innovative age, there's no validation for preserving troublesome procedures. Payroll, the business's biggest expenditure, must be processed properly and on time. Even slight hold-ups can adversely affect workers' wellness and have significant repercussions. Therefore, it's crucial to focus on accurate and timely payments.
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just observe when things fail. However, when things go right, it's viewed as just a regular task. This is how it's viewed externally also. Therefore, it is vital to guarantee that tasks like Wi-Fi International and other crucial matters are done correctly. Using the first Global Payments very first payroll payment service is a great initial step towards providing a comprehensive payroll solution for employees worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and savings account needed for global payroll are essential factors in achieving service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things do not go as planned. Ultimately, we do not do it for the gratitude.
anyhow we know how how essential a function it is and that'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 involved in those processes and also so envision sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions picture getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task attempting to clean all those up for sure oh absolutely 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 try to look through them and in fact see what was going on and sort of try to get back to everybody so proceeding look why do companies pick to main separate checking account there are services out there doing precisely this for particular nations and I have actually operated in an organization or many companies doing precisely that I can state it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not producing extra work for any person where we do not have to and any person that's handling 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 quantity that we are I think numerous factors one is it's the standard I think people have got so used to we require a new checking account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I believe 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 difficult thing we all do not like change um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having maintaining numerous savings account but there's a substantial amount of intricacy chooses setting up a bank account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity is substantial but I believe the sincere response is modification um people haven't been able to change or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what might almost be determined to be the next Century or so there is a lot to track and this technique does present numerous obstacles um so Johnny might you tell us about those challenges yeah obviously so there's a range 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 should have a corner office with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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