Find out more about Papaya Global Payroll Expiditing ... 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 actually obtained a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and trustworthy method of paying to our 10,000 workers worldwide.}
The innovative international payroll management app improves my payroll process, conserving me a significant amount of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Worker Website
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment files. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive advantages packages to international employees despite the number of staff members in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source local benefits service providers in every country, create regional accounts and have a minimum variety of workers.
The HR abilities provided by International HR encompass numerous functions such as monitoring vacation time, guaranteeing compliance, helping with the process of welcoming new workers and bidding farewell to leaving ones, offering a secure online platform for storing workers' documents, and providing assistance for work permit procedures in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, overall work costs distributed per location, overall employment costs per cycle and a lot more.
Globally, I have shown management and tactical knowledge in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for supervising payroll methods, as discussed by Mark. My role includes handling and developing external collaborations, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for most prominent companies on the planet we supply payroll payments and workforce management to all employee enters over 160 nations I am pleased to state 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 on where you remain in the world it's lovely 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 have actually remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've type of had a variety of various functions on the company side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really very bleak and I wish I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll likewise go over a recap which ought to leave his time at the extremely very 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 Worldwide labor forces end up being more and more typical and handling them becomes a growing number of complex Global organizations are aiming to discover Solutions and new methods to enhance processes specifically from a payroll and cross-border payment standpoint numerous companies preserve separate checking account just for payroll while some have several accounts in various countries does it make sense for companies to preserve separate savings account often in different nations it does however just for payroll exists a better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business streamline the episode complex processes of
Ensuring accurate, efficient, and timely payroll payments is a complex obstacle for companies operating internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll expenses to enhance working capital, and find how improving global payroll payments can change them from a burdensome task into a strategic asset.
Handling payroll worldwide is a difficult task due to numerous policies, compliance requirements, information security concerns, and banking guidelines. The large number of staff members and services adds to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often result in manual processes, information silos, and a lack of combination, leading to disparities and inadequacies. In spite of living in a period of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar objectives to provide insights and solutions to simplify and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more a business spends on international payroll the less of a photo they see an absence of exposure also reaches payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of international companies have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information information entry mistakes improperly communicated hires and terminations in addition to absence management and system setups and after that when you round all of it off and the data is shipped to the wrong location the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they rely on the required several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they're making payments to employees or otherwise that's a good concern I constantly toss this back and state what is it what doesn't require to be consisted of right and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look best eventually building a knowledge base is definitely important but all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to kind of progress with that it also also to contribute to that payroll and finance need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely essential that payroll and financing groups work closer together than ever um I'm constantly surprised when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to add to kind of the level of complexity there's a growing number of advantages being organ or being offered by companies across the world so again you're just aiming to include increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine obstacles or genuine difficult kind of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would absolutely say that the bigger an organization 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 teams feeding information into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we need to create additional handoffs at the same times that we run in they simply make them more timely they make them less efficient and they don't make them what they need to be in in a period of tech and an era that you understand that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any business has from an expense perspective from an impact point of view on workers it is definitely crucial that it's done correctly 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 greatest damaging effect on people's wellness and many other factors if people aren't paid uh I've always been amazed entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only observe when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally too. Therefore, it is vital to guarantee that jobs like Wi-Fi Global and other crucial matters are done correctly. Using the very first Global Payments very first payroll payment option is an excellent initial action towards supplying an extensive payroll service for staff members worldwide. Standardization, worldwide processes, and lowering the variety of tools, platforms, and bank accounts required for international payroll are crucial factors in attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things don't go as prepared. Eventually, we do not do it for the gratitude.
anyway we understand how how essential a function 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 processes and also so picture sorry I'm just I was just gon na state imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task trying to clean up 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 check out them and in fact see what was going on and type of try to return to everyone so proceeding appearance why do companies choose to primary separate checking account there are companies out there doing precisely this for specific countries and I have actually operated in an organization or numerous businesses doing precisely that I can state it doesn't constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anybody where we do not need to and anybody that's managing 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 think numerous factors one is it's the standard I believe individuals have actually got so used to we require a new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I think this is a process that requires taking a look at it needs altering however ultimately individuals are very stuck with what they recognize
with right um change is a hard thing we all don't like change um so I believe it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having preserving numerous checking account but there's a substantial amount of complexity chooses establishing a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific people so the intricacy is huge however I believe the honest response is modification um people have not been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change but we have actually 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 understand what might almost be identified to be the next Century or two there is a lot to keep track of and this method does pose a number of challenges um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I just 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 Worldwide workers you should have a corner workplace with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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