Find out more about Papaya Global Payroll International ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to managing payments. This supplies us with a secure and trustworthy technique of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app enhances my payroll procedure, saving me a significant amount of time monthly. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Worker Website
Staff members have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive benefits plans to worldwide staff members despite the number of workers in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source regional benefits companies in every nation, develop regional accounts and have a minimum variety of employees.
The HR capabilities supplied by International HR encompass numerous functions such as monitoring getaway time, guaranteeing compliance, assisting in the process of inviting brand-new workers and bidding farewell to departing ones, using a safe online platform for keeping workers' documents, and offering support for work permit treatments in case your workers need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total employment costs dispersed per area, total employment costs per cycle and far more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout business managing and building external relationships supporting Business customers and options as well as serving as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's an enjoyment to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've kind of had a range of various functions on the provider side and also on the supplier side from a payroll point of view so really anticipating this discussion 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 so to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I actually 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 really really dreary and I wish I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business keep separate
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex difficulty for businesses running worldwide. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to optimize working capital, and discover how simplifying global payroll payments can change them from a burdensome job into a tactical asset.
Handling payroll internationally is a challenging task due to different policies, compliance requirements, information security issues, and banking guidelines. The sheer number of employees and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems frequently lead to manual processes, information silos, and an absence of integration, causing inconsistencies and inefficiencies. In spite of living in an era of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to offer insights and solutions to streamline and optimize 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 say they have Labor force information in real time that's another number that provides me sleepless nights and rather honestly the more a business spends on global payroll the less of an image they see a lack of exposure likewise encompasses payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of international businesses have actually expressed that they don't 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 bad HCM information information entry errors badly interacted hires and terminations along with lack management and system setups and then when you round everything off and the information is shipped to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they depend on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're paying to employees or otherwise that's an excellent question I constantly toss this back and say what is it what does not need to be consisted of right and what does
it need to be thought about there's varying Bank information 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 consumer's own in-country account so there's intricacy wherever you look best eventually building a knowledge base is absolutely critical however everywhere you look with payroll payment they are like incredibly payments no if but some children 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 think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is allowing us to sort of move forward with that it likewise too to add to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely important that payroll and financing teams work better together than ever um I'm constantly astonished when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 people anywhere they are however also paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on well-being and the settlement landscape is becoming progressively complex. Companies are continually introducing new benefits and payment options, which contributes to the overall intricacy. Big corporations typically divide their payroll and payment processing into different teams, which can result in ineffectiveness and traffic jams. In my viewpoint, this doesn't have to hold true. In today's highly innovative age, there's no justification for preserving troublesome procedures. Payroll, the business's greatest cost, must be processed correctly and on time. Even minor delays can negatively impact workers' well-being and have far-reaching effects. For that reason, it's important to focus on precise and prompt payments.
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only notice when things fail. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's viewed externally too. Therefore, it is essential to guarantee that jobs like Wi-Fi International and other important matters are done properly. Using the very first Worldwide Payments first payroll payment solution is a great preliminary action towards offering an extensive payroll solution for staff members worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and checking account required for worldwide payroll are essential factors in attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things don't go as planned. Eventually, we don't do it for the thankfulness.
anyhow we understand 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 easy as possible for everybody that's involved in those procedures and also so picture sorry I'm just I was simply gon na state picture 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 discussing hundreds of thousands potentially Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and really see what was going on and kind of try to get back to everyone so carrying on look why do companies choose to primary separate checking account there are services out there doing exactly this for specific countries and I have actually worked in a business or lots of companies doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating extra work for anybody where we don't need to and any person that's managing 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 quantity that we are I think lots of factors one is it's the standard I believe people have got so utilized to we require a new checking account we open an entity and appropriately 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 norm the people have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other ways um to to kind of do it so I think there's a variety I think this is a procedure that requires looking at it requires altering but eventually individuals are very stuck with what they recognize
with best um modification is a hard thing we all don't like change um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having maintaining multiple bank accounts however there's a substantial quantity of complexity opts for setting up a checking account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for private individuals so the complexity is big however I believe the truthful answer is modification um people have not been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I think you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could almost be figured out to be the next Century or so there is a lot to monitor and this approach does position numerous challenges um so Johnny might 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 Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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