Find out more about Payroll By Papaya Global ... 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 obtained a separate Chief Financial Officer particularly committed to handling payments. This offers us with a safe and secure and reputable method of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Worker Website provides employees with the capability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global assists companies use competitive benefits plans to worldwide staff members no matter the number of employees in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source regional advantages suppliers in every nation, produce local accounts and have a minimum number of workers.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total work costs dispersed per area, overall employment costs per cycle and a lot more.
environments around the world I supplied management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Business clients and services as well as serving as a consultant for those of you that do not know who papaya International is papaya is the first payroll and payments
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and labor force management services to workers 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, despite your area. It's a satisfaction to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have always captivated me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually kind of had a range of various functions on the service provider side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind 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 extremely extremely gloomy and I want I was somewhere else at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it simplifies the complex procedure 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 benefits of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and prompt payroll payments is a complex difficulty for services running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to optimize working capital, and discover how improving worldwide payroll payments can change them from a burdensome task into a tactical property.
Handling payroll worldwide is a complicated task due to numerous guidelines, compliance requirements, data security issues, and banking rules. The large number of staff members and organizations adds to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often lead to manual processes, data silos, and an absence of integration, causing inconsistencies and ineffectiveness. In spite of living in a period of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to provide insights and solutions to simplify and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that provides me sleepless nights and rather frankly the more a business spends on worldwide payroll the less of an image they see an absence of visibility also extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of worldwide services have revealed that they do not 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 bad HCM information data entry errors badly interacted hires and terminations in addition to lack management and system setups and then when you round it all off and the data is shipped to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they depend on the essential several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties company face when they're making payments to staff members or otherwise that's a great concern I always toss this back and state what is it what does not need to be consisted of best 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 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 customer's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is absolutely crucial but all over you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to sort of progress with that it also as well to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup processes is absolutely important that payroll and finance groups work better together than ever um I'm always amazed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation 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 often 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 anywhere they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on wellness and the payment landscape is ending up being significantly elaborate. Businesses are continually presenting new advantages and payment alternatives, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't need to be the case. In today's technologically innovative era, there's no justification for keeping troublesome treatments. Payroll, the company's greatest cost, need to be processed properly and on time. Even slight hold-ups can negatively affect workers' well-being and have far-reaching consequences. For that reason, it's important to prioritize accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this sort of webinar has actually been told 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 important cycle we all become aware of it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done properly so leveraging the first International Payments very first payroll payment option is an excellent initial step um supplying an end-to-end payroll option for your workers worldwide once again I believe is another huge um procedure again aligning and ensuring you have standardization Worldwide procedures all of those things are absolutely essential to success success of businesses and decreasing the number of tools platforms and bank accounts they require for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd five 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 do not believe any of us are actually doing that for for the thanks
anyhow we understand how how essential 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 easy as possible for everyone that's involved in those procedures and also so imagine sorry I'm just I was simply gon na say envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions picture getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task trying to clean up all those up for sure oh absolutely 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 attempt to check out them and actually see what was going on and type of shot to get back to everyone so moving on look why do business pick to main separate bank accounts there are services out there doing precisely this for particular countries and I have actually operated in a company or lots of companies doing exactly that I can state it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating additional work for any person where we don't have to and any person 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 quantity that we are I think lots of factors one is it's the standard I think individuals have actually got so utilized to we need a new bank 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 believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I think this is a procedure that requires taking a look at it needs changing however ultimately individuals are very stuck to what they're familiar
with ideal um change is a difficult thing we all don't like change um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having preserving numerous savings account but there's a big quantity of intricacy goes with setting up a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual people so the complexity is substantial but I believe the sincere response 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 savings account I think you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century or so there is a lot to keep track of and this technique does position numerous obstacles um so Johnny could you inform us about those challenges yeah naturally so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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