Find out more about Papaya Global Quarterly Payroll Report ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and secure and trusted method of making payments to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
Employee Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work files. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive benefits bundles to global staff members no matter the number of staff members in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source local benefits providers in every country, produce local accounts and have a minimum number of employees.
The HR capabilities supplied by Global HR include various functions such as keeping an eye on vacation time, making sure compliance, facilitating the procedure of inviting new staff members and bidding goodbye to departing ones, providing a protected online platform for storing workers' documents, and supplying support for work permit treatments in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall work costs distributed per place, total work expenses per cycle and far more.
environments around the world I provided leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise customers and solutions along with acting as an advisor for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We focus on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's an enjoyment to fulfill 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 market, I have actually focused on payroll and payment options for the past 7 years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually kind of had a range of different functions on the company side and likewise on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite 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 everyone comes from and I really do hope it's much sunnier than it is 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 extremely gloomy and I wish I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business keep separate
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different savings account for payroll in different countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic property 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.
Making sure precise, efficient, and prompt payroll payments is a complex challenge for services operating internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, find out how business forecast payroll expenses to optimize working capital, and discover how improving global payroll payments can change them from a troublesome job into a strategic asset.
Managing payroll globally is an overwhelming task due to various guidelines, compliance requirements, data security concerns, and banking rules. The large variety of workers and organizations adds to the complexity, with an estimated 3.5 billion people in the international labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual procedures, information silos, and a lack of combination, causing inconsistencies and inefficiencies. In spite of residing in an age of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to provide insights and services to simplify and optimize global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more an organization invests in worldwide payroll the less of a photo they see a lack of presence likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide businesses have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors improperly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the information is delivered to the wrong place the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they count on the required several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties business face when they're paying to workers 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 ideal and what does
it require to be considered there's varying Bank details 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is definitely critical however all over you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type 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 absolutely fundamental and technology is allowing us to sort of move forward with that it likewise also to add to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work more detailed 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 operate in the payroll profession would they divide the payroll payment from computation 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 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 3rd parties so with the
The modern world puts a high worth on wellness and the payment landscape is ending up being significantly complex. Companies are constantly introducing brand-new advantages and payment options, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into different groups, which can cause inadequacies and traffic jams. In my opinion, this does not have to hold true. In today's technologically advanced period, there's no reason for maintaining troublesome procedures. Payroll, the company's greatest cost, must be processed correctly and on time. Even slight hold-ups can adversely impact employees' well-being and have far-reaching repercussions. For that reason, it's important to prioritize precise and timely payments.
payroll team get um so I'm uncertain anyone on this kind of webinar has been told 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 employees or not um but ultimately payroll is such a crucial cycle we all hear about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the very first International Payments first payroll payment option is a great primary step um supplying an end-to-end payroll option for your workers internationally once again I think is another huge um procedure again lining up and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of companies and reducing the number of tools platforms and savings account 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've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how essential a function 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 processes and also so picture sorry I'm just I was just gon na say imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions think of getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task trying to clean 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 need days of the week to attempt to look through them and actually see what was going on and kind of try to return to everyone so proceeding look why do business choose to main separate checking account there are businesses out there doing exactly this for particular countries and I've worked in a business or many organizations doing precisely that I can say it doesn't constantly feel effective and it does develop 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 any person that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think many reasons one is it's the requirement I think individuals have actually got so used to we need a new savings account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and many other ways um to to sort of do it so I think there's a range I think this is a process that needs looking at it requires changing but eventually people are very stuck with what they recognize
with right um modification is a difficult thing all of us do not like change um so I think it's just kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having preserving multiple savings account but there's a huge quantity of intricacy opts for establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the complexity is huge however I think the sincere response is change um individuals haven't been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I think it is knowledge you understand and there is an element of resistance to change however we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century or two there is a lot to keep track of and this technique does position numerous difficulties um so Johnny could you inform us about those challenges yeah of course so there's a range right there is so
I just did you switched our Enterprise 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 Global staff members you should have a corner office with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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