Find out more about Papaya Global Helps Make Payroll ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and secure and trustworthy approach of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app simplifies my payroll procedure, saving me a significant quantity of time each month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Worker Portal
Employees have access to an Employee Portal where they can view their pay slips, wage and tax statements and work files. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive benefits packages to global workers regardless of the variety of staff members in the company. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local benefits service providers in every nation, develop regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total employment expenses dispersed per location, overall employment expenses per cycle and much more.
environments across the globe I provided management 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 said I work throughout business managing and structure external relationships supporting Enterprise clients and services as well as acting as a consultant for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for most influential companies worldwide we offer payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon excellent night depending on where you remain in the world it's lovely to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I have actually kind of had a range of various roles on the company side and also on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly 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 extremely gloomy and I want I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the obstacle years of managing International payroll why business maintain different
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is particularly helpful for worldwide companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for companies operating internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to optimize working capital, and find how improving worldwide payroll payments can transform them from a troublesome task into a strategic possession.
Managing payroll internationally is a daunting job due to various policies, compliance requirements, data security concerns, and banking guidelines. The large number of workers and services contributes to the complexity, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems typically result in manual procedures, data silos, and an absence of integration, causing disparities and inadequacies. In spite of living in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to offer insights and services to simplify and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization invests in worldwide payroll the less of an image they see an absence of visibility also encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of global organizations have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors badly communicated hires and terminations as well as absence management and system setups and then when you round all of it off and the data is delivered to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges business face when they're paying to employees or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't require to be included right and what does
it require 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 abilities 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 consumer's own in-country account so there's complexity any place you look right eventually developing a knowledge base is definitely crucial but all over you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is allowing us to kind of move on with that it likewise too to add to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and financing teams work closer together than ever um I'm always amazed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation 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 procedure it's the point of information collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to add to kind of the level of complexity there's more and more advantages being organ or being used by services throughout the world so again you're simply seeking to add a growing number of payments to this already complicated landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine obstacles or genuine tough type of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would certainly state that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams 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 however you understand in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we require to produce extra handoffs while doing sos that we run in they simply 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 understand that we are working in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any organization has from an expense point of view from an effect perspective on workers it is absolutely vital that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive result on people's wellness and many other factors if people aren't paid uh I have actually always been impressed coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team 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 staff members or not. Payroll is an essential cycle, and people only notice when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's viewed externally as well. For that reason, it is vital to make sure that tasks like Wi-Fi Worldwide and other essential matters are done properly. Using the first Worldwide Payments very first payroll payment service is a terrific preliminary step towards supplying a comprehensive payroll solution for workers worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and savings account needed for global payroll are crucial factors in attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyhow we know how how important 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 everyone that's involved in those procedures and likewise so envision sorry I'm just I was just gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying to clean 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 look through them and in fact see what was going on and type of shot to get back to everybody so moving on appearance why do business choose to main separate checking account there are companies out there doing exactly this for specific countries and I've worked in a company or many companies doing exactly that I can state it doesn't constantly feel effective and it does create more work I know we're not deliberately doing that we're not developing extra work for anybody where we do not need to and anyone that's handling that process 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 believe many reasons one is it's the standard I believe individuals have got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I think this is a procedure that requires taking a look at it needs changing but eventually people are really stuck to what they're familiar
with right um modification is a hard thing we all 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 obviously the advantages of having keeping multiple savings account but there's a big quantity of intricacy goes with establishing a checking account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific people so the complexity is big but I believe the truthful response is change um individuals have not had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter but we've constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to track and this approach does pose several challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a range right there is so
I simply did you switched our Business 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 International workers you are worthy of a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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