Find out more about Papaya Global Payroll Ipo ... We now have the capability 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 dedicated to handling payments. This supplies us with a safe and secure and reliable method of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
Employee Website
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to worldwide staff members despite the number of employees in the business. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional benefits companies in every nation, create regional accounts and have a minimum variety of workers.
The HR capabilities provided by International HR incorporate different functions such as monitoring vacation time, ensuring compliance, assisting in the process of welcoming brand-new workers and bidding farewell to leaving ones, providing a protected online platform for saving employees' files, and providing support for work permit procedures in case your workers require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total work costs dispersed per place, overall work costs per cycle and much more.
environments around the world I offered management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise clients and solutions in addition to serving as an advisor for those of you that do not know who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential business worldwide we provide payroll payments and workforce management to all employee enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon great night depending upon where you are in the world it's charming to fulfill you and thank you quite 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 industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was captivated 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 have actually type of had a range of different functions on the company side and also on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just provide everyone 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 type of let them do that so it 'd be quite fascinating 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 everybody originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really dreary and I wish I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll also review a wrap-up and that needs to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of typical and managing them becomes a growing number of complex Worldwide organizations are wanting to discover Solutions and new methods to simplify processes particularly from a payroll and cross-border payment perspective numerous companies keep separate checking account just for payroll while some have several accounts in various countries does it make good sense for business to keep separate checking account in some cases in different nations it does but just for payroll exists a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational companies streamline the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for companies operating internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to optimize working capital, and discover how streamlining worldwide payroll payments can transform them from a difficult task into a tactical property.
Managing payroll worldwide is a challenging job due to different guidelines, compliance requirements, data security concerns, and banking rules. The sheer number of staff members and organizations contributes to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and a lack of combination, resulting in disparities and inefficiencies. Despite living in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar objectives to supply insights and options to streamline and optimize worldwide payroll payments.
about it to give 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 sleep deprived nights and quite honestly the more a service spends on worldwide payroll the less of a photo they see an absence of presence likewise reaches payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide companies have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes improperly interacted hires and terminations as well as absence management and system setups and then when you round everything off and the information is shipped to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they rely on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't require to be consisted of ideal and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation 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 have to pay from the consumer's own in-country account so there's intricacy any place you look ideal ultimately building a knowledge base is definitely vital however everywhere you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to kind of progress with that it also as well to add to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm constantly surprised when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work 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
world we reside in and wellness being a growing number of crucial to add to sort of the level of complexity there's a growing number of benefits being organ or being offered by services throughout the world so again you're simply aiming to include more and more payments to this already complex landscape so if you sort of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real difficulties or real difficult type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of years I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we run in they just make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and a period that you understand that we are working in today there is no reason why we are still making this as tough as it needs to be concurred and rightly as you said payroll is the single greatest liability that any service has from an expense viewpoint from an impact point of view on workers it is absolutely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging impact on individuals's wellness and lots of other aspects if people aren't paid uh I've always been surprised coming into this Market sort of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only see when things go wrong. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. For that reason, it is vital to make sure that tasks like Wi-Fi International and other crucial matters are done properly. Utilizing the first International Payments first payroll payment service is an excellent initial action towards offering a thorough payroll service for workers worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and bank accounts required for worldwide payroll are crucial factors in attaining business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things do not go as prepared. Eventually, we don't do it for the thankfulness.
anyway we know how how crucial a role 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 procedures and likewise so picture sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions imagine 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 but it would definitely be an intriguing task trying to clean all those up for sure oh absolutely 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 attempt to look through them and really see what was going on and sort of shot to return to everyone so carrying on appearance why do companies pick to main different checking account there are services out there doing precisely this for particular nations and I've operated in a business or lots of services doing precisely that I can say it does not constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not creating additional work for anybody where we do not need to and anyone 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 believe lots of factors one is it's the standard I think people have actually got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just 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 people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I believe this is a procedure that requires taking a look at it requires changing but ultimately individuals are extremely stuck to what they recognize
with best um modification is a tough thing all of us do not like modification um so I believe it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having preserving several bank accounts however there's a big quantity of intricacy goes with setting up a checking account preserving it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is big but I think the sincere answer is modification um individuals haven't been able to alter or haven't had always the understanding to actually make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to change however we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could almost be determined to be the next Century or so there is a lot to keep an eye on and this method does position several difficulties um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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