Find out more about Papaya Global Payroll Create Account ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and reputable approach of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Worker Website supplies employees with the ability to access and view important documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global assists business use competitive benefits packages to global workers regardless of the number of workers in the business. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local advantages service providers in every nation, produce regional accounts and have a minimum variety of workers.
The HR abilities offered by Worldwide HR include numerous functions such as keeping an eye on trip time, making sure compliance, assisting in the procedure of inviting brand-new staff members and bidding goodbye to departing ones, providing a protected online platform for keeping workers' documents, and offering assistance for work permit procedures in case your staff members require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, overall employment costs dispersed per area, overall employment expenses per cycle and far more.
environments across the globe I offered leadership and technique 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 managing and building external relationships supporting Business clients and options in addition to acting as an advisor for those of you that don't know who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for many prominent business worldwide we offer payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good evening depending on where you remain in the world it's beautiful to satisfy 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 been in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of different roles on the supplier side and also on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or two 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 intriguing and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I actually 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 raining here it's extremely really dreary and I want I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies keep different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is particularly helpful for worldwide companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping different checking account for payroll in different countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in adequate in one country however when you're doing it globally it's next level and Beyond it ends up being complex for a variety of factors most importantly policies compliance information security and banking guidelines then there are the sheer numbers they add further intricacy the international Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the traditional payroll design there's typically a frustrating number of various systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in large amounts and or really very fundamental there's no real consistency structure we're living in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind whenever I I believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more a company invests in worldwide payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of international businesses have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors inadequately interacted hires and terminations along with 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 an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they depend on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're making payments to employees or otherwise that's a great concern I always throw this back and say what is it what does not require to be consisted of best and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan 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 anywhere you look ideal ultimately developing a knowledge base is definitely critical but all over you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind 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 absolutely fundamental and innovation is allowing us to sort of move on with that it likewise too to add to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely essential that payroll and financing teams work closer together than ever um I'm always astonished when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation 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 data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on wellness and the settlement landscape is ending up being significantly complex. Companies are constantly introducing brand-new advantages and payment choices, which contributes to the total intricacy. Large corporations typically divide their payroll and payment processing into separate groups, which can lead to inefficiencies and traffic jams. In my opinion, this doesn't need to hold true. In today's technically sophisticated period, there's no reason for maintaining cumbersome procedures. Payroll, the business's greatest expenditure, must be processed properly and on time. Even minor delays can negatively impact staff members' wellness and have far-reaching repercussions. Therefore, it's important to prioritize precise and prompt payments.
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just notice when things go wrong. However, when things go right, it's seen as just a regular task. This is how it's perceived externally also. For that reason, it is vital to make sure that tasks like Wi-Fi Global and other essential matters are done correctly. Using the first International Payments first payroll payment service is a terrific initial step towards supplying a comprehensive payroll option for workers worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and savings account needed for global payroll are essential consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyhow we know how how essential a function 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 simple as possible for everyone that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions think of getting that numerous 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 a fascinating job attempting 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 browse them and actually see what was going on and type of try to return to everybody so carrying on look why do companies choose to main separate bank accounts there are services out there doing exactly this for specific countries and I've worked in an organization or many services doing exactly that I can say it does not constantly feel efficient and it does create more work I understand we're not purposely doing that we're not developing additional work for anybody where we do not need to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many factors one is it's the requirement I think individuals have actually got so utilized to we require a 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 believe it's simply been the requirement and the standard the people have embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I believe this is a process that needs taking a look at it needs changing but ultimately people are really stuck to what they recognize
with ideal um change is a tough thing all of us do not like change um so I think it's just 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 numerous bank accounts however there's a big quantity of intricacy goes with setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the complexity is substantial however I think the honest response is change um people have not had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I think it is understanding you know and there is a component of resistance to alter but we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century or two there is a lot to keep an eye on and this technique does pose several difficulties um so Johnny might you inform us about those challenges yeah of course so there's a variety right there is so
I just did you changed 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 Worldwide workers you deserve a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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