Find out more about Papaya Global Payroll Invoices ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and secure and trustworthy approach of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Worker Portal supplies employees with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to international staff members despite the number of staff members in the company. The company can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source local advantages companies in every nation, develop local accounts and have a minimum variety of employees.
The HR capabilities offered by Worldwide HR include various functions such as keeping track of trip time, ensuring compliance, assisting in the process of inviting new workers and bidding farewell to leaving ones, using a secure online platform for storing employees' files, and offering assistance for work allow procedures in case your staff members require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, total employment costs distributed per place, overall employment expenses per cycle and much more.
environments around the world I supplied management and strategy to populations of over a hundred thousand employees 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 Business clients and solutions as well as acting as an advisor for those of you that don't know who papaya Global 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 offering 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, despite your place. It's an enjoyment to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I've type of had a range of different functions on the provider side and also on the supplier side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone originates from and I really 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 really really dreary and I want I was somewhere else at this moment in time fine 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 companies preserve different
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in various nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex obstacle for businesses running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, find out how companies forecast payroll expenses to enhance working capital, and find how simplifying worldwide payroll payments can change them from a challenging task into a strategic asset.
Managing payroll internationally is a daunting job due to numerous policies, compliance requirements, data security issues, and banking rules. The large variety of workers and services contributes to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently result in manual processes, data silos, and a lack of combination, causing inconsistencies and ineffectiveness. In spite of living in an era of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to provide insights and options to simplify and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more a business invests in international payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global businesses have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors poorly communicated hires and terminations as well as absence management and system configurations and after that when you round it all off and the data is delivered to the incorrect location the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they count on the needed numerous processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they're paying to employees or otherwise that's a great concern I constantly throw this back and state what is it what doesn't 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 time frames there's payment capabilities so can you pay it from International or do you have 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 definitely crucial however everywhere you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to kind of move on with that it also also to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely essential that payroll and finance teams work closer together than ever um I'm constantly astonished when individuals say 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 occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually 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 3rd parties so with the
The contemporary world places a high value on wellness and the compensation landscape is ending up being progressively elaborate. Companies are continuously introducing brand-new benefits and payment alternatives, which adds to the overall complexity. Big corporations typically divide their payroll and payment processing into different groups, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn't have to be the case. In today's highly advanced era, there's no justification for maintaining cumbersome treatments. Payroll, the company's biggest expense, need to be processed properly and on time. Even small hold-ups can adversely affect staff members' wellness and have far-reaching effects. Therefore, it's critical to prioritize precise and prompt payments.
payroll group get um so I'm unsure anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle all of us find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just 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 stuff is absolutely essential that all of this stuff is done correctly so leveraging the very first International Payments very first payroll payment option is an excellent first step um supplying an end-to-end payroll service for your staff members worldwide again I believe is another huge um process once again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of organizations and lowering the number of tools platforms and checking account they need for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyhow we understand how how important 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 associated with those processes and also so think of sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job trying to clean up all those up for sure oh definitely I can't think of 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 actually see what was going on and sort of try to get back to everyone so moving on appearance why do companies select to primary different savings account there are services out there doing exactly this for particular countries and I've worked in a company or numerous organizations doing precisely that I can say it does not always feel efficient and it does create more work I understand we're not intentionally doing that we're not producing extra work for anybody where we do not need to and anyone 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 amount that we are I think many reasons one is it's the requirement I believe individuals have got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I think this is a procedure that requires taking a look at it requires changing however eventually individuals are really stuck with what they recognize
with best um change is a challenging thing all of us don't like change um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having maintaining several savings account but there's a huge amount of intricacy opts for establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for specific people so the complexity is substantial but I think the honest answer is change um people haven't had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter however we have actually always done it that way is no real reason for not taking a look 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 technique does pose a number of obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I simply did you changed our Business 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 International workers you are worthy of a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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