Find out more about Papaya Global Payroll Hacked ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and trusted method of making payments to our 10,000 workers worldwide.}
The innovative worldwide payroll management app enhances my payroll process, saving me a significant amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Employee Portal
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work files. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business provide competitive advantages plans to international workers despite the number of workers in the business. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source regional benefits companies in every nation, develop regional accounts and have a minimum variety of workers.
The HR capabilities offered by Global HR incorporate different functions such as keeping track of vacation time, ensuring compliance, assisting in the process of welcoming new workers and bidding goodbye to leaving ones, providing a safe and secure online platform for keeping workers' documents, and offering support for work permit procedures in case your staff members require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total work costs distributed per location, overall employment costs per cycle and much more.
environments around the world I supplied management 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 business handling and structure external relationships supporting Enterprise customers and options as well as serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for most prominent business in the world we offer payroll payments and workforce management to all staff member types in over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon great night depending on where you are in the world it's beautiful to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the complexity the problem in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of various roles on the provider side and likewise on the vendor side from a payroll point of view so really anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting 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 everybody comes from and I truly do hope it's much sunnier than it remains in the UK today definitely 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 want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical possession uh we'll also discuss a wrap-up and that should leave his time at the extremely really 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 Worldwide workforces become increasingly more common and managing them ends up being a growing number of complex Worldwide organizations are seeking to find Solutions and new ways to simplify processes particularly from a payroll and cross-border payment standpoint lots of organizations maintain separate bank account just for payroll while some have several accounts in various countries does it make good sense for companies to maintain different bank accounts sometimes in different nations it does but just for payroll is there a better method what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational business simplify the episode complex processes of
Ensuring accurate, effective, and prompt payroll payments is a complex difficulty for services operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, find out how companies anticipate payroll costs to optimize working capital, and discover how enhancing global payroll payments can transform them from a burdensome task into a tactical possession.
Managing payroll worldwide is a challenging job due to various guidelines, compliance requirements, information security concerns, and banking guidelines. The sheer number of employees and organizations adds to the complexity, with an estimated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual processes, information silos, and a lack of integration, causing disparities and inadequacies. In spite of 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, often utilizing pen and paper. This webinar aims to supply insights and services to streamline and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization spends on international payroll the less of a picture they see an absence of visibility also extends to payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of worldwide services have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors poorly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the data is delivered to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they rely on the necessary numerous processes systems and partners it is just 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 concern I always toss this back and state what is it what does not need to be included ideal and what does
it require to be thought of 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 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 consumer's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble very payments no if but 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 technology is allowing us to kind of move forward with that it also also to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely imperative that payroll and financing teams work more detailed together than ever um I'm constantly surprised when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation 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 eventually 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 likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to contribute to sort of the level of intricacy there's more and more benefits being organ or being used by organizations throughout the world so again you're simply aiming to include increasingly more payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real obstacles or real tough type of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a couple of decades I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding details into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to create extra handoffs at the same times that we operate in they just make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and an era that you know that we are working in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any organization has from a cost perspective from an impact perspective on workers it is definitely crucial 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 damaging result on individuals's wellness and many other elements if people aren't paid uh I have actually always been surprised entering into this Market type of the last five to ten years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people just discover when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. Therefore, it is necessary to guarantee that tasks like Wi-Fi International and other essential matters are done correctly. Using the very first International Payments first payroll payment option is a terrific preliminary action towards offering a detailed payroll solution for workers worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and checking account essential for global payroll are key consider accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things do not go as planned. Eventually, we don't do it for the appreciation.
anyhow we know how how important a role 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 everybody that's involved in those processes and also so envision sorry I'm just I was just gon na say imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions imagine getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting task attempting to clean up all those up for sure oh absolutely I can't picture 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 in fact see what was going on and sort of try to get back to everyone so proceeding appearance why do business select to main separate bank accounts there are businesses out there doing precisely this for particular countries and I have actually worked in a business or lots of organizations doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating 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 ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the requirement I think individuals have actually got so utilized to we require a brand-new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a procedure that requires looking at it needs altering but ultimately people are extremely stuck with what they recognize
with right um change is a tough thing all of us do not like change um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having keeping numerous checking account however there's a substantial quantity of complexity goes with setting up a bank account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity is huge however I think the truthful answer is change um people haven't had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to change but we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might almost be identified to be the next Century or so there is a lot to track and this method does position several obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I simply did you changed 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 workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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