Find out more about Papaya Global Payroll How It Works ... 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 gotten a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and trustworthy method of making payments to our 10,000 staff members worldwide.}
The advanced global payroll management app simplifies my payroll procedure, saving me a significant quantity of time every month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
The Staff member Portal provides staff members with the capability to access and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps business use competitive advantages bundles to worldwide workers despite the number of employees in the business. The business can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages providers in every nation, create regional accounts and have a minimum number of employees.
The HR capabilities offered by Worldwide HR incorporate various functions such as keeping track of getaway time, ensuring compliance, facilitating the process of inviting new staff members and bidding goodbye to departing ones, offering a safe online platform for saving workers' documents, and providing support for work allow treatments in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total employment costs distributed per place, total work expenses per cycle and much more.
environments across the globe I offered leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work across business handling and structure external relationships supporting Enterprise clients and services along with serving as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for a lot of influential business worldwide we provide payroll payments and labor force management to all worker types in over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good night depending upon where you are in the world it's lovely to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually type of had a variety of various functions on the service provider side and likewise on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just give everybody another number 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 interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it remains 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 really very gloomy and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business keep separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, learn how companies forecast payroll expenses to enhance working capital, and find how enhancing global payroll payments can transform them from a difficult task into a tactical possession.
Handling payroll worldwide is a challenging job due to different guidelines, compliance requirements, information security concerns, and banking guidelines. The sheer variety of staff members and organizations adds to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual processes, information silos, and an absence of integration, causing disparities and inefficiencies. Regardless of residing in a period of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to provide insights and options to streamline and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more a business invests in global payroll the less of a photo they see an absence of visibility also extends to payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the transaction almost half of global companies have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors inadequately interacted hires and terminations along with absence management and system setups and then when you round it all off and the information is delivered to the wrong location the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they depend on the needed numerous 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 obstacles organization face when they're making payments to employees or otherwise that's a good question I constantly throw this back and state what is it what doesn't require to be consisted of right and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 consumer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is allowing us to kind of move on with that it likewise as well to add to that payroll and financing require to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely imperative that payroll and finance groups work more detailed together than ever um I'm always impressed when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation 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 process it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on wellness and the settlement landscape is ending up being significantly detailed. Businesses are continuously introducing new benefits and payment choices, which contributes to the overall intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and traffic jams. In my opinion, this does not need to be the case. In today's technically innovative period, there's no validation for preserving troublesome procedures. Payroll, the company's most significant expense, should be processed properly and on time. Even minor delays can negatively impact staff members' well-being and have far-reaching effects. Therefore, it's vital to prioritize accurate and timely payments.
payroll group get um so I'm not exactly sure anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think 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 things is absolutely vital that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment service is a terrific first step um offering an end-to-end payroll option for your employees worldwide again I think is another huge um process once again lining up and guaranteeing you have standardization International procedures all of those things are absolutely essential to success success of organizations and decreasing the number of tools platforms and bank accounts they require for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I don't think any of us are really doing that for for the thanks
anyway we understand how how essential 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 simple as possible for everybody that's associated with those processes and also so imagine sorry I'm just I was simply 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 make sure we're speaking about hundreds of thousands possibly Millions envision getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean all those up for sure oh absolutely I can't think of 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 actually see what was going on and kind of shot to return to everyone so proceeding look why do companies pick to main separate checking account there are businesses out there doing exactly this for specific countries and I've worked in a service or numerous services doing precisely that I can state it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not producing extra work for any person where we do not need to and anybody that's managing that process 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 believe many factors one is it's the requirement I think people have got so used to we need a brand-new bank account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I believe this is a procedure that requires looking at it requires altering but ultimately individuals are extremely stuck to what they recognize
with best um modification is a difficult thing we all don't like change um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having keeping numerous savings account however there's a huge amount of intricacy opts for setting up a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the complexity is substantial however I believe the honest response is modification um individuals have not had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I think you've struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to change but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century or two there is a lot to keep track of and this method does pose a number of difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a variety 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 jobs on one platform. It seems like our CFO has acquired another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your achievements.
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