Find out more about Papaya Global Log In For Payroll ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and trusted technique of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll process, conserving me a considerable amount of time every month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
Worker Website
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and employment documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive advantages packages to worldwide workers no matter the variety of workers in the business. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source regional benefits providers in every nation, create local accounts and have a minimum variety of employees.
The HR capabilities offered by International HR incorporate numerous functions such as keeping track of getaway time, making sure compliance, helping with the procedure of welcoming brand-new employees and bidding goodbye to leaving ones, providing a secure online platform for storing employees' documents, and offering assistance for work permit procedures in case your workers need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, total work expenses distributed per area, overall work expenses per cycle and far more.
environments around the world I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout the business handling and building external relationships supporting Business clients and solutions as well as functioning as a consultant for those of you that don't know who papaya Global is papaya is the 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 concentrate on providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I have actually type of had a variety of different roles on the supplier side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing 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 everybody comes 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 drizzling here it's really extremely uninspiring and I wish I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical possession uh we'll likewise review a wrap-up and that must leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more typical and managing them ends up being a growing number of complicated Worldwide organizations are wanting to discover Solutions and brand-new ways to streamline processes especially from a payroll and cross-border payment perspective lots of companies keep different savings account just for payroll while some have numerous accounts in various countries does it make good sense for companies to maintain different checking account in some cases in various nations it does but just for payroll is there a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies improve the episode complex processes of
Making sure accurate, efficient, and prompt payroll payments is a complex obstacle for businesses running internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, learn how companies forecast payroll costs to enhance working capital, and find how improving worldwide payroll payments can transform them from a burdensome job into a tactical possession.
Handling payroll worldwide is a daunting task due to numerous regulations, compliance requirements, data security issues, and banking rules. The large number of workers and services adds to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual processes, information silos, and an absence of combination, leading to inconsistencies and ineffectiveness. Regardless of residing in an era of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and solutions to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a company invests in global payroll the less of a photo they see an absence of presence also reaches payroll payments and failure to precisely track these payments can lead to 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 need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors improperly interacted hires and terminations as well as absence management and system setups and after that when you round all of it off and the information is shipped to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they count on the needed multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're making payments to staff members or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't need to be consisted of best and what does
it require to be thought about there's differing Bank information 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 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 wherever you look best ultimately building a knowledge base is absolutely critical but everywhere you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 definitely essential and innovation is enabling us to sort of move forward with that it also too to add to that payroll and finance need to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely vital that payroll and finance groups work more detailed together than ever um I'm constantly astonished when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically 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 people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on well-being and the settlement landscape is becoming progressively intricate. Services are constantly presenting new advantages and payment choices, which contributes to the overall complexity. Large corporations often divide their payroll and payment processing into separate groups, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's technically sophisticated era, there's no justification for keeping troublesome procedures. Payroll, the company's greatest expense, should be processed properly and on time. Even minor delays can negatively impact staff members' well-being and have far-reaching effects. For that reason, it's vital to prioritize accurate and timely payments.
payroll team get um so I'm not exactly sure anyone on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such a crucial cycle we all find out about it when it fails everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely crucial that all of this stuff is done correctly so leveraging the very first Worldwide Payments very first payroll payment solution is a great initial step um offering an end-to-end payroll service for your workers worldwide again I believe is another substantial um process again lining up and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of organizations and decreasing the number of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how essential 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 involved in those procedures and also so imagine sorry I'm simply I was just gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and type of try to return to everybody so carrying on look why do companies select to primary different savings account there are businesses out there doing precisely this for specific nations and I have actually worked in an organization or many organizations doing exactly that I can say it does not always feel efficient and it does produce more work I know we're not intentionally doing that we're not creating extra work for anybody where we don't have to and any person that's dealing with that procedure 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 think lots of reasons one is it's the requirement I think individuals have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I think this is a procedure that needs looking at it needs altering but eventually individuals are extremely stuck with what they recognize
with best um modification is a hard thing all of us do not like modification um so I believe it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having preserving multiple checking account however there's a big quantity of intricacy opts for setting up a checking account preserving it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual people so the complexity is huge but I think the honest response is change um people haven't been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to alter however we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century or two there is a lot to keep track of and this approach does posture numerous difficulties um so Johnny might you inform us about those challenges yeah obviously 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you deserve a corner workplace with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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