Find out more about Papaya Global Payroll Tlr ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This offers us with a secure and reputable technique of making payments to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, conserving me a considerable amount of time each month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Worker Portal provides staff members with the ability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to international workers regardless of the number of staff members in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source regional benefits suppliers in every country, produce regional accounts and have a minimum variety of workers.
The HR capabilities provided by Global HR include different functions such as keeping an eye on getaway time, guaranteeing compliance, facilitating the process of inviting brand-new workers and bidding goodbye to leaving ones, offering a protected online platform for saving employees' files, and offering assistance for work permit procedures in case your staff members require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, overall work expenses distributed per area, total employment costs per cycle and a lot more.
environments around the world I offered management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business managing and building external relationships supporting Enterprise customers and solutions as well as acting as an advisor for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for the majority of prominent business worldwide we provide payroll payments and workforce management to all employee enters 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 introduce yourself naturally thank you good morning good afternoon great evening depending on where you are in the world it's lovely to meet 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 remained in the payments market for over ten years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually 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 eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it is 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 very extremely bleak and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why business keep different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical property uh we'll also review a wrap-up which ought to leave his time at the extremely very 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 typical and handling them becomes more and more complicated Worldwide companies are looking to find Solutions and new ways to improve procedures particularly from a payroll and cross-border payment perspective many companies keep different bank account just for payroll while some have several accounts in various nations does it make sense for companies to preserve separate bank accounts in some cases in different nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business streamline the episode complex procedures of
Ensuring accurate, effective, and timely payroll payments is a complex challenge for businesses running globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll expenses to enhance working capital, and find how enhancing international payroll payments can transform them from a burdensome job into a strategic property.
Managing payroll worldwide is a difficult task due to different regulations, compliance requirements, data security concerns, and banking rules. The large variety of workers and organizations contributes to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. Despite living in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to provide insights and services to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more an organization spends on international payroll the less of a photo they see a lack of presence likewise reaches payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of international organizations have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors inadequately communicated hires and terminations along with absence management and system setups and after that when you round it all off and the data is delivered to the incorrect location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they depend on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges organization face when they're paying to employees or otherwise that's a good question I constantly throw this back and state what is it what doesn't need to be included best and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 client's own in-country account so there's complexity any place you look right eventually constructing a knowledge base is definitely important however everywhere you look with payroll payment they are like incredibly payments no if but some infants 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 recognition that payroll payments are absolutely basic and technology is allowing us to sort of move forward with that it also as well to add to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is definitely crucial that payroll and financing groups work better 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 anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from calculation 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 process it's the point of data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high worth on wellness and the compensation landscape is becoming progressively complex. Businesses are continuously introducing new benefits and payment choices, 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 opinion, this doesn't have to hold true. In today's technically advanced period, there's no justification for keeping troublesome treatments. Payroll, the business's most significant cost, should be processed properly and on time. Even minor hold-ups can adversely impact staff members' wellness and have far-reaching repercussions. For that reason, it's critical 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 terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just observe when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's perceived externally too. For that reason, it is necessary to guarantee that jobs like Wi-Fi Worldwide and other essential matters are done properly. Using the first Worldwide Payments very first payroll payment solution is a terrific preliminary action towards providing a comprehensive payroll service for employees worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and bank accounts needed for global payroll are essential consider accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things do not go as prepared. Ultimately, we don't do it for the appreciation.
anyway we understand how how important 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 simple as possible for everybody that's involved in those processes and likewise so picture sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions envision getting that lots of 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 intriguing job 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 attempt to look through them and actually see what was going on and sort of try to return to everybody so moving on look why do business select to main different bank accounts there are businesses out there doing exactly this for particular countries and I've operated in a company or many organizations doing exactly that I can state it doesn't always feel effective and it does create more work I understand we're not deliberately doing that we're not producing extra work for anyone where we don't have to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the requirement I believe individuals have actually got so used to we require a new bank account we open an entity and appropriately so you require 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 standard and the norm the people have embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I believe this is a process that requires looking at it needs changing however ultimately individuals are really stuck with what they're familiar
with best um modification is a challenging thing we all don't like change um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having preserving multiple bank accounts however there's a substantial quantity of intricacy goes with setting up a bank account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for individual people so the intricacy is substantial however I think the truthful response is modification um individuals have not had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to monitor and this technique does posture numerous challenges um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you deserve a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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