Find out more about Papaya Global Payroll Philippines ... We now have the capability 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 committed to managing payments. This provides us with a safe and reputable approach of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app enhances my payroll process, saving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
The Employee Website offers workers with the ability to gain access to 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 provided in different languages.
Benefits Administration
Papaya Global helps business offer competitive advantages packages to global workers despite the variety of workers in the company. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source regional advantages suppliers in every nation, develop local accounts and have a minimum number of employees.
The HR abilities provided by International HR incorporate different functions such as keeping track of trip time, ensuring compliance, facilitating the process of welcoming new staff members and bidding farewell to leaving ones, offering a safe and secure online platform for saving workers' documents, and providing assistance for work permit procedures in case your staff members require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total work expenses dispersed per place, total work expenses per cycle and a lot more.
environments across the globe I supplied management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business managing and structure external relationships supporting Enterprise clients and solutions along with acting as an advisor for those of you that don't understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for most influential business worldwide we offer payroll payments and workforce management to all worker key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon excellent night depending on where you remain in the world it's charming to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of various functions on the supplier side and also on the vendor side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather intriguing 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 everybody originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really uninspiring and I wish I was somewhere else at this moment in time okay so let's get going 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 companies keep different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic property uh we'll also go over a recap which must leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become a growing number of common and handling them becomes increasingly more intricate Global organizations are looking to find Solutions and brand-new ways to improve procedures especially from a payroll and cross-border payment viewpoint many organizations maintain different bank account just for payroll while some have multiple accounts in different nations does it make good sense for business to preserve different checking account often in various countries it does however just for payroll exists a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational companies streamline the episode complex processes of
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for businesses operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, discover how business forecast payroll expenses to optimize working capital, and discover how streamlining worldwide payroll payments can transform them from a difficult task into a strategic possession.
Managing payroll internationally is a daunting task due to numerous policies, compliance requirements, data security issues, and banking rules. The sheer number of workers and organizations adds to the intricacy, with an approximated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and an absence of combination, leading to disparities and inefficiencies. In spite of living in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to provide insights and solutions to simplify and enhance global payroll payments.
about it to provide you an idea 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 offers me sleep deprived nights and quite honestly the more an organization invests in worldwide payroll the less of a picture they see an absence of exposure also extends to payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the transaction nearly half of international organizations have revealed 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 because of time reporting bad HCM information data entry errors badly interacted hires and terminations as well as lack management and system configurations and then when you round everything off and the information is delivered to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they count on the required several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties company face when they're paying to staff members or otherwise that's a good question I constantly throw this back and say what is it what does not require to be included best and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 customer's own in-country account so there's intricacy anywhere you look best eventually constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like incredibly payments no if however some children 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 believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is allowing us to type of move on with that it likewise too to add to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm always impressed when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't 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 frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more crucial to add to sort of the level of intricacy there's increasingly more advantages being organ or being provided by organizations throughout the world so again you're simply aiming to include more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real difficulties or real challenging kind of pay uses to play to pay people I think yeah I suggest over the last well yeah a number of decades I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding details into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we operate in they just make them more prompt they make them less effective and they do not make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason why we are still making this as challenging as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any business has from a cost viewpoint from an effect perspective on staff members it is definitely vital 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 have to be done right it has the greatest destructive effect on individuals's well-being and many other elements if people aren't paid uh I have actually always been impressed entering this Market type of the last five to 10 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 actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential 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 also. Therefore, it is important to ensure that tasks like Wi-Fi International and other essential matters are done correctly. Utilizing the first Global Payments very first payroll payment option is a fantastic initial action towards providing a thorough payroll service for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and checking account needed for worldwide payroll are key consider accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things don't go as planned. Eventually, we do not do it for the thankfulness.
anyhow we know 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 simple as possible for everybody that's involved in those processes and likewise so think of sorry I'm simply I was just gon na say think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions imagine getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and in fact see what was going on and sort of try to get back to everyone so proceeding look why do business pick to primary different savings account there are businesses out there doing exactly this for particular countries and I've operated in a company or numerous services doing exactly that I can state it doesn't always feel efficient and it does produce more work I understand we're not purposely doing that we're not creating additional work for anyone where we do not have to and any person that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of factors one is it's the standard I believe individuals have actually got so used to we need a new savings 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 believe it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have 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 requires looking at it needs changing however eventually individuals are extremely stuck with what they recognize
with ideal um modification is a difficult thing all of us don't like modification um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having maintaining multiple savings account but there's a substantial amount of complexity goes with establishing a bank account maintaining it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for specific people so the intricacy is huge however I think the honest answer is modification um people haven't been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to change but we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might almost be determined to be the next Century or so there is a lot to monitor and this approach does position several challenges um so Johnny could you tell us about those challenges yeah naturally so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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