Find out more about Papaya Global Payroll Contact ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and reputable technique of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and specialists
Worker Website
Workers have access to an Employee Portal where they can view their pay slips, wage and tax statements and employment documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits plans to international employees regardless of the number of staff members in the business. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source local benefits suppliers in every nation, create local accounts and have a minimum variety of workers.
The HR capabilities supplied by Global HR incorporate various functions such as monitoring trip time, making sure compliance, facilitating the procedure of welcoming brand-new workers and bidding goodbye to leaving ones, offering a protected online platform for saving employees' files, and offering assistance for work allow procedures in case your employees require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall work expenses distributed per location, overall employment costs per cycle and much more.
environments around the world I offered leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business managing and building external relationships supporting Business customers and options as well as functioning as a consultant for those of you that don't understand 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 influential companies worldwide. We focus on supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a satisfaction to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or six years where I've sort of had a variety of different functions on the company side and likewise on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I actually 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 raining here it's extremely extremely dreary and I wish I was somewhere else at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies maintain different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most importantly guidelines compliance data security and banking rules then there are the sheer numbers they include more intricacy the worldwide Workforce is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the standard payroll design there's frequently a frustrating number of different systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in big amounts and or very really standard there's no genuine consistency structure we're residing in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind whenever I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more a business spends on international payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of international companies have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes poorly communicated hires and terminations along with absence management and system setups and after that when you round it all off and the data is delivered to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they depend on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a great question I constantly throw this back and state what is it what does not need to be included 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 country 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 consumer's own in-country account so there's intricacy wherever you look right eventually constructing a knowledge base is definitely critical but everywhere you look with payroll payment they are like extremely payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is permitting us to type of progress with that it also too to contribute to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely vital that payroll and finance groups work closer together than ever um I'm constantly amazed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry 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 individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high worth on wellness and the compensation landscape is becoming increasingly detailed. Services are continually introducing brand-new advantages and payment options, which contributes to the overall intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can cause inadequacies and bottlenecks. In my viewpoint, this does not have to hold true. In today's technologically sophisticated period, there's no justification for maintaining cumbersome procedures. Payroll, the business's greatest expense, should be processed properly and on time. Even minor hold-ups can adversely affect staff members' wellness and have significant effects. For that reason, it's vital to prioritize precise and prompt payments.
payroll team get um so I'm not sure anybody on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the first Global Payments first payroll payment option is a terrific initial step um supplying an end-to-end payroll solution for your staff members globally again I think is another substantial um procedure again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of services and decreasing the number of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone rather where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyhow we know 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 everybody that's associated with those processes and likewise so picture sorry I'm simply I was just gon na state envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially 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 however it would certainly be an interesting job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and really see what was going on and type of try to get back to everyone so carrying on appearance why do companies pick to main different savings account there are organizations out there doing exactly this for specific countries and I have actually operated in a service or many businesses doing exactly that I can state it doesn't constantly feel effective and it does develop more work I know we're not purposely doing that we're not producing additional work for anyone where we don't need to and anyone that's dealing with 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 amount that we are I think numerous reasons one is it's the standard I think individuals have got so utilized to we require a new checking account we open an entity and rightly 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 simply been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I think this is a procedure that needs taking a look at it needs changing but eventually individuals are very stuck to what they recognize
with ideal um modification is a challenging thing we all don't like change um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having maintaining numerous checking account but there's a substantial quantity of intricacy opts for setting up a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the best user accesses for specific individuals so the intricacy is huge however I believe the honest response is change um people haven't had the ability to alter or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I believe 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 real reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could practically be figured out to be the next Century or so there is a lot to monitor and this method does pose a number of obstacles um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just did you changed 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 deserve a corner office with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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