Find out more about Papaya Global Payroll Unemployment ... 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 obtained a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a secure and trustworthy approach of paying to our 10,000 workers worldwide.}
The innovative international payroll management app enhances my payroll procedure, saving me a significant quantity of time every month. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Staff member Portal
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive benefits packages to international workers no matter the variety of staff members in the business. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local advantages suppliers in every nation, develop regional accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, overall work expenses distributed per place, total work expenses per cycle and a lot more.
environments around the world I provided management and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout the business managing and building external relationships supporting Business customers and solutions along with serving as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for most influential business worldwide we supply payroll payments and workforce management to all worker 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 introduce yourself obviously thank you good morning excellent afternoon good evening depending upon where you remain in the world it's charming to satisfy you and thank you very much 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 market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've type of had a range of different roles on the supplier side and likewise on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating 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 comes from and I really 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 dreary and I want I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is especially useful for worldwide companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex challenge for services operating worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, learn how companies anticipate payroll expenses to enhance working capital, and find how simplifying worldwide payroll payments can change them from a burdensome job into a tactical asset.
Handling payroll globally is a complicated task due to numerous guidelines, compliance requirements, data security issues, and banking rules. The large variety of staff members and companies adds to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual procedures, information silos, and a lack of combination, resulting in disparities and ineffectiveness. In spite of residing in a period of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to offer insights and services to streamline and optimize international payroll payments.
about it to give 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 offers me sleep deprived nights and quite frankly the more a company invests in worldwide payroll the less of an image they see an absence of exposure likewise reaches payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of worldwide companies have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors badly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the information is delivered to the wrong location the typical expense of an international 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 globe payroll and payments don't run smoothly if they depend on the needed several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what does not require to be consisted of best and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 need to pay from the customer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is definitely critical but 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 in 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 kind of move on with that it also also to add to that payroll and finance need to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and financing groups work closer together than ever um I'm always astonished when people say I've divided payroll and payment um if you walk down the street and asked anybody 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 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 individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more essential to contribute to sort of the level of complexity there's more and more benefits being organ or being provided by businesses throughout the world so once again you're simply seeking to include more and more payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real challenges or real challenging type of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a couple of years I would definitely say that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding information into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we need to produce additional handoffs at the same times 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 an age of tech and an era that you know that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any business has from a cost perspective from an effect viewpoint on staff members it is definitely important 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 need to be done right it has the biggest destructive effect on people's well-being and many other factors if people aren't paid uh I've always been amazed entering into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an essential cycle we all find out about it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the first International Payments first payroll payment option is a terrific primary step um providing an end-to-end payroll service for your workers internationally once again I think is another big um process once again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely crucial to success success of organizations and minimizing the variety of tools platforms and bank accounts they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyhow 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 easy as possible for everyone that's associated with those procedures and also so envision sorry I'm just I was just gon na say think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task trying to clean all those up for sure oh definitely 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 really see what was going on and type of shot to get back to everybody so moving on appearance why do business select to main different bank accounts there are companies out there doing precisely this for specific nations and I've operated in an organization or many organizations doing exactly that I can say it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not producing additional work for any person where we don't need to and anyone that's handling 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 amount that we are I think numerous reasons one is it's the standard I think people have got so utilized to we require a new checking account we open an entity and rightly 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 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 numerous other methods um to to sort of do it so I believe there's a variety I believe this is a process that requires taking a look at it needs altering however ultimately individuals are really stuck with what they're familiar
with best um modification is a tough thing all of us don't like change um so I think it's just kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having preserving numerous savings account but there's a huge amount of intricacy goes with establishing a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is substantial however I think the honest answer is modification um individuals haven't been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might almost be figured out to be the next Century approximately there is a lot to keep track of and this method does present a number of challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I just 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 Global staff members you are worthy of a corner office with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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