Find out more about Papaya Global Faster Payroll ... 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 gotten a different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and trustworthy approach of paying to our 10,000 workers worldwide.}
The innovative global payroll management app improves my payroll procedure, conserving me a substantial amount of time each month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Employee Website
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to worldwide employees regardless of the variety of employees in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, create local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall work costs distributed per location, total employment costs per cycle and far more.
environments across the globe I supplied leadership and method to populations of over a hundred thousand staff members in more than 170 countries 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 do not understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for most prominent companies in the world we provide payroll payments and labor force management to all worker enters over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course 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've remained in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I've kind of had a variety of different functions on the provider side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll kind 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 type of like see where everyone originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely bleak and I wish I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll also review a wrap-up which ought to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more common and handling them ends up being more and more complex International companies are seeking to find Solutions and new ways to enhance processes specifically from a payroll and cross-border payment perspective lots of companies preserve separate savings account just for payroll while some have numerous accounts in various nations does it make sense for business to preserve different savings account sometimes in various countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies enhance the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for organizations running globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, discover how companies anticipate payroll expenses to optimize working capital, and discover how simplifying global payroll payments can transform them from a difficult task into a strategic asset.
Handling payroll globally is a daunting task due to various guidelines, compliance requirements, data security issues, and banking rules. The sheer number of workers and companies contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems often lead to manual procedures, data silos, and an absence of combination, resulting in disparities and inadequacies. Regardless of residing in an age of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to offer insights and options to streamline and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more a business invests in global payroll the less of an image they see an absence of visibility also extends to payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of worldwide organizations have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors badly interacted hires and terminations in addition to absence management and system setups and then when you round everything off and the data is shipped to the wrong location the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they depend on the essential numerous processes 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 obstacles organization face when they're paying to workers or otherwise that's an excellent question I constantly throw this back and say what is it what does not need to be included right and what does
it need 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 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 ideal eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind 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 progress with that it also as well to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely necessary that payroll and financing groups work closer together than ever um I'm constantly surprised when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation 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 procedure 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 reside in and wellness being increasingly more important to contribute to sort of the level of intricacy there's a growing number of benefits being organ or being provided by organizations across the world so once again you're simply wanting to include a growing number of payments to this already complex landscape so if you kind of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real challenges or real challenging kind of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a number of decades I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and an age that you know that we are working in today there is no reason that we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any service has from a cost point of view from an impact viewpoint on staff members it is absolutely vital that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant harmful impact on individuals's wellness and many other elements if people aren't paid uh I have actually constantly been astonished coming into this Market kind of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only discover when things fail. However, when things go right, it's seen as just a regular task. This is how it's viewed externally also. For that reason, it is essential to make sure that tasks like Wi-Fi International and other crucial matters are done correctly. Using the first International Payments very first payroll payment service is an excellent initial action towards supplying a detailed payroll solution for workers worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and savings account needed for global payroll are essential consider attaining service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyhow 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 easy as possible for everybody that's associated with those procedures and likewise so think of sorry I'm simply I was simply gon na say envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions envision 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 an intriguing task trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and really see what was going on and type of try to get back to everybody so carrying on appearance why do business pick to main separate checking account there are services out there doing exactly this for specific nations and I have actually operated in a service or many companies doing precisely that I can say it doesn't constantly feel effective and it does produce more work I know we're not intentionally doing that we're not producing additional work for any person where we don't need to and anyone that's managing that process 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 think numerous reasons one is it's the requirement I believe people have got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually 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 lots of other ways um to to sort of do it so I think there's a variety I think this is a procedure that needs taking a look at it requires changing but eventually individuals are extremely stuck to what they're familiar
with best um modification is a difficult thing we all don't like modification um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having maintaining several savings account but there's a big quantity of complexity opts for setting up a bank account keeping it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the complexity is substantial however I think the honest response is change um individuals have not had the ability to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter however we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could practically be determined to be the next Century or two there is a lot to monitor and this method does pose a number of obstacles um so Johnny could you inform us about those obstacles yeah of course so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you are worthy of a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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