Find out more about Papaya Global Salary Calculator ... 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 actually obtained a separate Chief Financial Officer specifically committed to handling payments. This provides us with a secure and trustworthy technique of paying to our 10,000 employees worldwide.}
The innovative international payroll management app enhances my payroll process, conserving me a considerable amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
The Employee Portal offers staff members with the ability to access and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global assists companies provide competitive advantages plans to international staff members despite the variety of employees in the company. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional benefits companies in every country, create local accounts and have a minimum number of workers.
The HR abilities offered by International HR include numerous functions such as keeping track of trip time, ensuring compliance, helping with the process of welcoming new employees and bidding farewell to leaving ones, providing a safe and secure online platform for saving workers' files, and supplying assistance for work allow procedures in case your workers require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall work expenses dispersed per location, overall employment expenses per cycle and a lot more.
environments around the world I supplied management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business handling and structure external relationships supporting Business clients and options as well as functioning as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As an international business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a pleasure to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The complexities and obstacles of this field have constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've type of had a range of different roles on the service provider side and also on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays 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 everyone is um it's nice to to kind of like see where everyone originates from and I truly 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 raining here it's extremely really uninspiring and I want I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why business preserve different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic asset uh we'll also discuss a wrap-up which ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being a growing number of common and handling them ends up being more and more complicated Worldwide companies are looking to discover Solutions and new ways to streamline processes particularly from a payroll and cross-border payment viewpoint numerous companies keep separate checking account just for payroll while some have numerous accounts in different nations does it make sense for business to keep separate savings account sometimes in different nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies improve the episode complex processes of
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being complex for a range of factors most significantly policies compliance data security and banking guidelines then there are the large numbers they include more intricacy the global Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the conventional payroll design there's often an overwhelming variety of various systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or very really standard there's no real consistency framework we're living in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind each time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more an organization spends on international payroll the less of a picture they see a lack of presence also extends to payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of international 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 errors are due to time reporting poor HCM data data entry mistakes improperly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is delivered to the incorrect place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they rely on the essential multiple 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 obstacles company face when they're making payments to employees or otherwise that's a great question I always throw this back and state what is it what does not need to be included ideal and what does
it need 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 time frames there's payment capabilities 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 intricacy any place you look right ultimately building a knowledge base is absolutely critical however all over you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind 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 basic and innovation is allowing us to type of move forward with that it also also to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely essential that payroll and finance teams work more detailed together than ever um I'm constantly astonished when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession 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 typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on well-being and the settlement landscape is becoming increasingly elaborate. Companies are continuously presenting brand-new benefits and payment alternatives, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into different groups, which can result in inadequacies and bottlenecks. In my viewpoint, this does not need to be the case. In today's highly sophisticated age, there's no validation for maintaining troublesome procedures. Payroll, the company's greatest cost, must be processed properly and on time. Even small delays can negatively impact staff members' well-being and have significant repercussions. For that reason, it's vital to prioritize precise and timely payments.
payroll group get um so I'm unsure anybody on this kind 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 employees or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it fails everyone 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 also like why WI-Fi Global why all of this stuff is absolutely important that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment solution is a terrific initial step um providing an end-to-end payroll option for your employees internationally again I think is another huge um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely crucial to success success of companies and reducing the number of tools platforms and savings account they need for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never 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 grievances where things have not gone quite where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway we know how how crucial 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 simple as possible for everybody that's associated with those processes and also so think of sorry I'm just I was simply gon na state envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job attempting 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 require days of the week to attempt to check out them and in fact see what was going on and sort of shot to get back to everyone so proceeding look why do companies pick to primary separate bank accounts there are services out there doing exactly this for particular nations and I've worked in a service or lots of businesses doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not creating additional work for any person where we don't have to and anybody that's handling 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 amount that we are I believe numerous factors one is it's the requirement I think people have actually got so used to we require a brand-new savings account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and many other methods um to to type of do it so I think there's a variety I think this is a process that needs taking a look at it needs altering however eventually individuals are very stuck to what they're familiar
with right um modification is a challenging thing all of us do not like change um so I think it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having keeping multiple checking account however there's a big quantity of complexity chooses setting up a bank account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is substantial however I believe the sincere response is change um individuals have not had the ability to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might almost be identified to be the next Century or so there is a lot to track and this approach does present a number of difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this boosted capability, I have successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
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