Find out more about Papaya Global Payroll Software For Small Business ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly committed to handling payments. This offers us with a protected and dependable method of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Employee Portal supplies staff members with the ability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global assists business offer competitive benefits bundles to global employees regardless of the variety of staff members in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source local benefits suppliers in every country, develop local accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total employment expenses dispersed per area, total employment costs per cycle and much more.
environments around the world I offered leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise customers and solutions as well as acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for most prominent business on the planet we supply payroll payments and labor force management to all employee types in over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good night depending on where you remain in the world it's beautiful 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 dealing with the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I've kind of had a variety of different roles on the service provider side and also on the supplier side from a payroll point of view so actually anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing 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 truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really extremely dreary and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why business preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a tactical possession uh we'll likewise discuss a wrap-up which must leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being a growing number of common and handling them becomes more and more complicated Global organizations are seeking to find Solutions and brand-new methods to simplify processes specifically from a payroll and cross-border payment viewpoint numerous companies preserve separate checking account just for payroll while some have several accounts in different nations does it make good sense for companies to maintain different savings account in some cases in different nations it does but just for payroll is there a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business streamline the episode complex processes of
Ensuring precise, effective, and timely payroll payments is a complex difficulty for businesses operating 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 costs to enhance working capital, and discover how improving worldwide payroll payments can change them from a challenging task into a strategic possession.
Handling payroll internationally is an overwhelming task due to numerous guidelines, compliance requirements, information security issues, and banking guidelines. The large number of employees and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems typically lead to manual processes, data silos, and a lack of integration, causing inconsistencies and ineffectiveness. In spite of living in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar aims to supply insights and solutions to simplify and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more a business spends on worldwide payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal nearly half of global services have actually expressed that they do not 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 bad HCM data data entry errors inadequately communicated hires and terminations along with absence management and system configurations and then when you round everything off and the data is shipped to the incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they depend on the required numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're paying to employees or otherwise that's an excellent question I always throw this back and state what is it what doesn't need to be included right and what does
it require 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 complexity anywhere you look best eventually constructing a knowledge base is absolutely critical but all over you look with payroll payment they are like super payments no if however some babies 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 recognition that payroll payments are absolutely basic and technology is permitting us to sort of move forward with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely vital that payroll and finance teams work more detailed together than ever um I'm always astonished when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work 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 often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on wellness and the payment landscape is ending up being progressively intricate. Companies are constantly introducing new advantages and payment choices, which contributes to the total intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my opinion, this does not need to hold true. In today's technically sophisticated era, there's no justification for keeping troublesome treatments. Payroll, the company's most significant expense, must be processed correctly and on time. Even slight delays can adversely affect staff members' wellness and have significant repercussions. Therefore, it's critical to focus on precise and timely payments.
payroll group get um so I'm not exactly sure anybody on this kind of webinar has 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 employees or not um however ultimately payroll is such an essential cycle we all find out about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout 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 definitely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment solution is a fantastic first step um supplying an end-to-end payroll service for your employees globally once again I think is another substantial um process again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely key to success success of services and reducing the variety of tools platforms and checking account they require for their Global 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 have actually never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're implied to be um I don't think any of us are in fact doing that for for the thanks
anyhow we know 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 easy as possible for everyone that's associated with those processes and likewise so imagine sorry I'm just I was just gon na state envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating task attempting 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 try to look through them and actually see what was going on and type of try to return to everybody so moving on look why do business choose to primary different bank accounts there are companies out there doing precisely this for particular countries and I've worked in a business or numerous businesses doing exactly that I can say it does not constantly feel effective and it does develop more work I know we're not deliberately doing that we're not developing additional work for anyone where we don't have to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the requirement I believe individuals have actually got so used to we require a new checking account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have adopted and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I believe this is a process that requires taking a look at it needs altering but ultimately individuals are very stuck to what they're familiar
with best um modification is a difficult thing we all do not like modification um so I think it's just type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having preserving numerous checking account but there's a big quantity of intricacy chooses setting up a bank account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the complexity is big however I think the sincere answer is change um individuals haven't had the ability to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I think 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 benefits and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century or two there is a lot to keep track of and this approach does present numerous challenges um so Johnny might you inform us about those challenges yeah of course 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 enhanced ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your achievements.
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