Find out more about Papaya Global Payroll Health Insurance ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to handling payments. This supplies us with a protected and reliable technique of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app enhances my payroll procedure, conserving me a considerable amount of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
Employee Website
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits plans to international workers no matter the number of workers in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages service providers in every nation, develop regional accounts and have a minimum number of workers.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, overall work costs dispersed per place, overall work costs per cycle and far more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work across business handling and building external relationships supporting Business customers and services as well as functioning as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian discussed, 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 intricacies and difficulties of this field have actually constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of various roles on the service provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody 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 sunshine is it it's not no it's it's raining here it's extremely really uninspiring and I want I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property 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.
Making sure precise, effective, and timely payroll payments is a complex challenge for services running globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to optimize working capital, and find how streamlining worldwide payroll payments can change them from a troublesome job into a tactical asset.
Handling payroll globally is a challenging task due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The large variety of workers and organizations contributes to the complexity, with an approximated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and an absence of combination, leading to disparities and inadequacies. In spite of living in an era of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to supply insights and options to simplify and enhance worldwide 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 Workforce data in real time that's another number that gives me sleep deprived nights and rather frankly the more a company spends on worldwide payroll the less of a picture they see an absence of presence also encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide organizations 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 due to time reporting bad HCM information data entry mistakes inadequately interacted hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the data is delivered to the incorrect place the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run efficiently if they count on the necessary numerous procedures 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 difficulties business face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and state what is it what does not need to be consisted of ideal and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 client's own in-country account so there's complexity anywhere you look right eventually building a knowledge base is definitely vital but all over you look with payroll payment they are like incredibly payments no if but some infants 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 recognition that payroll payments are definitely essential and innovation is enabling us to kind of move forward with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and finance teams work more detailed together than ever um I'm always amazed when people say 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 calculation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on well-being and the compensation landscape is ending up being progressively detailed. Organizations are constantly introducing brand-new benefits and payment options, which adds to the general complexity. Big corporations typically divide their payroll and payment processing into different groups, which can cause inefficiencies and traffic jams. In my opinion, this does not need to hold true. In today's technically advanced age, there's no validation for preserving cumbersome treatments. Payroll, the business's most significant expenditure, need to be processed correctly and on time. Even small hold-ups can negatively impact workers' well-being and have far-reaching consequences. For that reason, it's crucial to prioritize accurate and timely payments.
payroll group get um so I'm uncertain anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an important cycle we all hear 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 view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done properly so leveraging the first Global Payments very first payroll payment service is an excellent initial step um supplying an end-to-end payroll option for your staff members worldwide once again I believe is another huge um procedure again lining up and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of services and lowering the variety of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're meant to be um I don't think any of us are really doing that for for the thanks
anyhow we know how how important 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 simple as possible for everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions think of getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and really see what was going on and kind of shot to return to everybody so moving on appearance why do business choose to main separate bank accounts there are companies out there doing precisely this for particular nations and I have actually worked in an organization or many businesses doing exactly that I can say 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 don't need to and anybody that's dealing with that procedure 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 numerous factors one is it's the standard I believe people have got so used to we require a new bank 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 think it's just been the standard and the norm the people have actually embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a process that needs taking a look at it needs altering however eventually individuals are extremely stuck with what they're familiar
with ideal um modification is a challenging thing all of us do not like modification um so I believe it's just kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having preserving multiple savings account but there's a substantial amount of complexity chooses setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for specific individuals so the complexity is substantial but I believe the sincere response is change um people have not had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what could nearly be determined 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 difficulties yeah of course so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you should have a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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