Find out more about Dd Mil Papaya Globals Hoss Payroll ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and dependable method of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Worker Website
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment files. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive advantages plans to global employees no matter the variety of staff members in the business. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the need to source regional benefits providers in every nation, develop local accounts and have a minimum variety of staff members.
The HR capabilities provided by Worldwide HR include different functions such as keeping an eye on trip time, ensuring compliance, helping with the process of inviting new workers and bidding goodbye to departing ones, offering a safe and secure online platform for storing employees' documents, and providing assistance for work permit procedures in case your workers require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment costs dispersed per location, overall work costs per cycle and much more.
environments around the world I provided management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business handling and building external relationships supporting Business clients and solutions in addition to acting as an advisor for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of various roles on the company side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join all of us 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 simply to hear where everybody is um it's nice to to kind of like see where everyone originates from and I really do hope it's much sunnier than it remains 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 very uninspiring and I wish I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business maintain different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is especially beneficial for worldwide companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for companies running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, find out how companies anticipate payroll expenses to enhance working capital, and find how enhancing worldwide payroll payments can change them from a troublesome job into a strategic asset.
Managing payroll internationally is a challenging job due to different regulations, compliance requirements, information security concerns, and banking guidelines. The large variety of employees and businesses contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems often lead to manual procedures, information silos, and a lack of integration, resulting in inconsistencies and inefficiencies. Despite residing in an age of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to supply insights and services to simplify and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that gives me sleep deprived nights and rather honestly the more a business invests in global payroll the less of a picture they see a lack of presence also extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of global services have revealed 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 due to time reporting bad HCM information information entry mistakes improperly communicated hires and terminations in addition to absence management and system setups and after that when you round all of it off and the information is delivered to the incorrect location the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they count on the needed several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're paying to workers or otherwise that's a great question I always toss this back and state what is it what does not need to be included ideal and what does
it require to be considered there's differing 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 need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy wherever you look right ultimately developing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble super payments no if however some children 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 believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is permitting us to kind of move forward with that it also as well to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely imperative that payroll and finance groups work more detailed together than ever um I'm always impressed when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from computation 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 ultimately 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 but also paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on well-being and the payment landscape is ending up being significantly complex. Services are continually introducing new advantages and payment choices, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can cause inadequacies and traffic jams. In my opinion, this doesn't need to hold true. In today's technologically sophisticated era, there's no justification for keeping cumbersome treatments. Payroll, the business's biggest cost, should be processed properly and on time. Even slight hold-ups can adversely affect employees' well-being and have significant repercussions. For that reason, it's critical to focus on accurate and prompt payments.
payroll team get um so I'm not exactly sure anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle we all find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely crucial that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment solution is a great primary step um supplying an end-to-end payroll option for your workers globally once again I think is another huge um procedure once again aligning and ensuring you have standardization International procedures all of those things are definitely crucial to success success of companies and reducing the variety of tools platforms and checking account they require for their Worldwide 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've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're meant to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand how how important 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 involved in those procedures and also so envision sorry I'm just I was simply gon na state picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions picture getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and in fact see what was going on and kind of try to return to everyone so carrying on look why do companies pick to primary different savings account there are organizations out there doing precisely this for particular countries and I have actually worked in a company or lots of organizations doing precisely that I can state it does not constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not producing extra work for anyone where we do not have to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of reasons one is it's the requirement I think people have actually got so used to we need a brand-new bank account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced 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 methods um to to sort of do it so I believe there's a variety I think this is a process that needs looking at it needs altering but eventually people are extremely stuck to what they're familiar
with best um change is a difficult thing we all do not like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having maintaining several savings account but there's a huge amount of intricacy chooses setting up a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is big but I think the sincere answer is modification um individuals have not had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change but we've always 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 could nearly be identified to be the next Century or so there is a lot to track and this method does present several obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I simply did you changed 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 workers you should have a corner workplace with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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