Find out more about Papaya Global Payroll Verification Of Employment ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and secure and reputable method of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
The Employee Portal supplies staff members with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global assists companies offer competitive benefits plans to international workers despite the number of employees in the business. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits service providers in every nation, develop local accounts and have a minimum number of workers.
The HR capabilities offered by Global HR incorporate various functions such as keeping an eye on vacation time, making sure compliance, helping with the procedure of inviting brand-new staff members and bidding farewell to departing ones, providing a secure online platform for storing employees' documents, and providing assistance for work permit treatments in case your employees need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total employment costs dispersed per area, overall employment expenses per cycle and much more.
environments across the globe I provided leadership and strategy 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 throughout business handling and building external relationships supporting Enterprise clients and services along with acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for most influential business worldwide we provide payroll payments and labor force management to all employee types in over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon good evening depending upon where you are in the world it's charming to fulfill 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 have actually been in the payments market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of various roles on the provider side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll sort 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 type 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 raining here it's really 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 International payroll why companies keep different
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is especially beneficial for global organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical possession 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.
Guaranteeing accurate, effective, and timely payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll expenses to enhance working capital, and find how improving global payroll payments can change them from a difficult task into a tactical possession.
Handling payroll worldwide is a difficult job due to different policies, compliance requirements, data security concerns, and banking guidelines. The large variety of staff members and organizations adds to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently result in manual processes, information silos, and an absence of combination, causing disparities and ineffectiveness. Regardless of living in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to provide insights and options to simplify and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information 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 presence likewise extends to payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide organizations have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors badly interacted hires and terminations along with absence management and system setups and after that when you round everything off and the information is delivered to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they count on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're making payments to employees or otherwise that's a great question I constantly toss this back and state what is it what doesn't require to be consisted of right and what does
it need to be thought about there's differing 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 need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity wherever you look ideal ultimately building a knowledge base is absolutely vital but everywhere you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and technology is allowing us to type of move on with that it also as well to add to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and finance groups work better together than ever um I'm constantly astonished when individuals state 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 profession would they divide the payroll payment from estimation I would say no so why do we as a market 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 data collection all the way through to paying people any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to contribute to type of the level of intricacy there's increasingly more benefits being organ or being offered by organizations across the world so again you're just seeking to include a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine challenges or genuine tough type of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we need to create additional handoffs in the processes that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in an age of tech and an age that you understand that we are operating in today there is no reason why we are still making this as hard as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any company has from an expense viewpoint from an effect perspective on employees it is definitely critical that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest destructive result on individuals's wellness and many other factors if individuals aren't paid uh I have actually constantly been impressed coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just discover when things go wrong. However, when things go right, it's viewed as simply a routine job. This is how it's viewed externally too. Therefore, it is necessary to guarantee that tasks like Wi-Fi International and other crucial matters are done correctly. Utilizing the first Global Payments first payroll payment solution is a terrific initial step towards providing a detailed payroll option for workers worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and checking account necessary for global payroll are crucial factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things do not go as prepared. Ultimately, we don't do it for the appreciation.
anyhow 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 simple 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 think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions picture getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and in fact see what was going on and sort of try to get back to everybody so moving on appearance why do business choose to main separate bank accounts there are businesses out there doing precisely this for particular nations and I have actually worked in a company or lots of services doing exactly that I can say it does not constantly feel effective and it does create more work I understand we're not intentionally doing that we're not creating extra work for any person where we do not have to and any person 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 quantity that we are I think many reasons one is it's the standard I think people have actually got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a range I believe this is a procedure that requires taking a look at it needs changing but eventually people are extremely stuck with what they're familiar
with best um modification is a hard thing we all don't like change um so I believe it's simply sort of moving far 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 keeping multiple checking account but there's a huge amount of complexity opts for setting up a savings account preserving it ensuring it can send International transfers ensuring it's established with the ideal user accesses for private individuals so the complexity is huge but I believe the sincere answer is modification um people haven't had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could nearly be identified to be the next Century or two there is a lot to monitor and this technique does posture numerous difficulties um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I simply did you switched 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 International employees you are worthy of a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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