Find out more about Papaya Global Payroll Tools ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and trusted method of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app streamlines my payroll process, conserving me a considerable amount of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Staff member Portal
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business provide competitive benefits plans to global workers no matter the variety of employees in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages suppliers in every country, produce local accounts and have a minimum number of workers.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall work expenses distributed per area, overall work expenses per cycle and far more.
environments across the globe I provided management and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work across the business handling and structure external relationships supporting Business customers and services in addition to serving as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential business on the planet we provide payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon good evening depending on where you remain in the world it's lovely to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've sort of had a range of different roles on the supplier side and also on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds approximately 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 everybody is um it's nice to to kind of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely really uninspiring and I wish I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why business maintain separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts enhancing papaya Global payroll payments as a strategic property uh we'll also discuss a wrap-up which must leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of typical and managing them ends up being a growing number of intricate Global organizations are aiming to find Solutions and new ways to improve processes especially from a payroll and cross-border payment perspective many organizations keep different bank account just for payroll while some have multiple accounts in various nations does it make good sense for business to keep separate bank accounts often in various nations it does however just for payroll is there a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies improve the episode complex processes of
Guaranteeing accurate, efficient, and timely payroll payments is a complex difficulty for businesses running globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to optimize working capital, and discover how improving international payroll payments can transform them from a troublesome job into a tactical property.
Managing payroll globally is a difficult job due to various policies, compliance requirements, data security issues, and banking rules. The large variety of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and an absence of combination, resulting in disparities and inadequacies. Despite living in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to provide insights and services to simplify and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a company invests in worldwide payroll the less of a photo they see an absence of exposure also extends to payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal almost half of international companies have actually 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 data data entry errors inadequately communicated hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the information is delivered to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they depend on the essential multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties service face when they're paying to workers or otherwise that's an excellent question I always toss this back and say what is it what doesn't need to be included right and what does
it need to be considered 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 abilities 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 client's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is definitely important however all over you look with payroll payment they resemble 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 recognition that payroll payments are definitely fundamental and innovation is permitting us to sort of progress with that it likewise too to add to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is absolutely essential that payroll and financing teams work better together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation 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 procedure it's the point of data collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high worth on wellness and the payment landscape is becoming progressively intricate. Services are constantly introducing brand-new benefits and payment options, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can cause inefficiencies and traffic jams. In my viewpoint, this does not have to be the case. In today's technologically innovative period, there's no reason for keeping troublesome procedures. Payroll, the company's greatest expenditure, should be processed properly and on time. Even slight delays can negatively impact staff members' wellness and have significant consequences. For that reason, it's vital to prioritize precise and timely payments.
payroll team get um so I'm not exactly sure anybody on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe 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 things is definitely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment solution is a terrific primary step um supplying an end-to-end payroll option for your workers internationally once again I believe is another substantial um procedure once again aligning and ensuring you have standardization International processes all of those things are absolutely essential to success success of organizations and decreasing the number of tools platforms and savings account they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not anticipate 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 suggested to be um I do not think any of us are in fact doing that for for the thanks
anyway we know how how crucial 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 everyone that's associated with those processes and also so think of sorry I'm simply I was just gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task trying to clean up all those up for sure oh absolutely I can't picture 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 sort of try to return to everyone so carrying on appearance why do companies choose to main different savings account there are companies out there doing exactly this for particular nations and I've worked in a business or numerous organizations doing precisely that I can state it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not developing extra work for any person where we don't need to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of reasons one is it's the requirement I think individuals have got so utilized to we need a new checking 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 norm the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires altering but eventually individuals are very stuck to what they're familiar
with ideal um modification is a hard thing we all do not like change um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having preserving multiple checking account however there's a substantial quantity of intricacy opts for setting up a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual people so the complexity is huge however I think the sincere response is change um people have not had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I think it is understanding you know 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 know what might almost be figured out to be the next Century or so there is a lot to monitor and this approach does pose several challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a range 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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