Find out more about Papaya Global Payroll Training ... 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 separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and secure and reputable method of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Worker Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment documents. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to global employees despite the number of employees in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every country, create local accounts and have a minimum variety of workers.
The HR capabilities supplied by International HR encompass numerous functions such as keeping an eye on trip time, making sure compliance, helping with the process of inviting brand-new employees and bidding farewell to departing ones, using a safe and secure online platform for storing employees' documents, and offering assistance for work permit treatments in case your employees require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total work expenses distributed per location, overall work costs per cycle and a lot more.
environments across the globe I supplied leadership and method 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 across the business handling and structure external relationships supporting Enterprise clients and options as well as functioning as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a global business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We focus on providing payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The intricacies and challenges of this field have constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've type of had a variety of various roles on the provider side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really 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 really very gloomy and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is especially useful for global organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of keeping separate bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex challenge for services operating globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, discover how business anticipate payroll expenses to enhance working capital, and discover how streamlining international payroll payments can change them from a burdensome task into a tactical possession.
Handling payroll worldwide is an overwhelming task due to numerous guidelines, compliance requirements, data security issues, and banking rules. The sheer variety of employees and businesses contributes to the complexity, with an approximated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often lead to manual processes, information silos, and a lack of integration, causing inconsistencies and inefficiencies. Despite residing in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to supply insights and solutions to streamline and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more a company invests in worldwide payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of global services have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes badly communicated hires and terminations along with lack management and system configurations and then when you round everything off and the information is delivered to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they rely on the essential 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 challenges business face when they're paying to workers or otherwise that's a good question I always toss this back and say what is it what doesn't require to be consisted of 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 nation there's payment amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is definitely important but everywhere you look with payroll payment they resemble incredibly payments no if but some children 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 think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to type of move forward with that it likewise also to add to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely vital that payroll and financing groups work better together than ever um I'm always surprised when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on well-being and the compensation landscape is ending up being progressively complex. Services are continually introducing new benefits and payment options, which adds to the general intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and traffic jams. In my opinion, this does not have to be the case. In today's technologically advanced age, there's no validation for maintaining cumbersome treatments. Payroll, the company's greatest expenditure, must be processed properly and on time. Even small delays can negatively affect workers' well-being and have significant effects. Therefore, it's critical to prioritize precise and prompt payments.
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals only notice when things fail. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally too. For that reason, it is essential to ensure that jobs like Wi-Fi Worldwide and other vital matters are done properly. Using the first Worldwide Payments very first payroll payment option is a great preliminary action towards providing a thorough payroll option for workers worldwide. Standardization, international procedures, and reducing the number of tools, platforms, and bank accounts needed for global payroll are crucial consider achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyway we understand how how crucial 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 simple as possible for everybody that's associated with those procedures and also so envision sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions picture getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating job attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and type of try to return to everyone so carrying on look why do companies choose to primary separate bank accounts there are organizations out there doing exactly this for particular countries and I've worked in an organization or numerous businesses doing precisely that I can say it doesn't constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not developing extra work for any person where we do not need to and anyone that's dealing with 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 think lots of factors one is it's the standard I believe individuals have got so used to we require a brand-new bank account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually adopted and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I think this is a procedure that requires taking a look at it requires altering however ultimately individuals are very stuck to what they're familiar
with ideal um modification is a tough thing we all do not like modification um so I think it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having keeping multiple bank accounts however there's a big quantity of intricacy chooses establishing a checking account keeping it ensuring it can send International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is huge however I think the sincere answer is modification um individuals have not been able to alter or haven't had always the understanding to really make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect 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 carrying on and moving into you understand what could practically be determined to be the next Century or so there is a lot to monitor and this technique does position numerous difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you should have a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
Papaya Global Art