Find out more about Papaya Global Payroll Features List ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to handling payments. This provides us with a secure and dependable method of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Employee Website
Workers have access to an Employee Website where they can see their pay slips, wage and tax declarations and work documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive advantages bundles to worldwide employees no matter the number of employees in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local benefits service providers in every country, develop local accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall work expenses distributed per location, overall work expenses per cycle and much more.
environments around the world I offered management 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 business handling and building external relationships supporting Business customers and solutions along with acting as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
business 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 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good night depending upon where you are in the world it's charming to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've type of had a range of various functions on the service provider side and also on the supplier side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating 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 everyone originates from and I really 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 drizzling here it's very really bleak and I want I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies preserve separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll likewise go over a wrap-up which should leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of typical and handling them ends up being more and more complex Global organizations are aiming to discover Solutions and new ways to streamline processes particularly from a payroll and cross-border payment perspective lots of organizations preserve different checking account just for payroll while some have several accounts in various countries does it make sense for business to keep separate checking account sometimes in different countries it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational business simplify the episode complex processes of
Ensuring precise, effective, and timely payroll payments is a complex obstacle for organizations operating internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, learn how companies forecast payroll expenses to enhance working capital, and find how improving global payroll payments can change them from a challenging task into a strategic property.
Handling payroll internationally is a daunting job due to numerous regulations, compliance requirements, data security concerns, and banking rules. The sheer number of staff members and businesses contributes to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 countless whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems frequently result in manual procedures, data silos, and a lack of integration, causing disparities and inefficiencies. In spite of living in an age of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to supply insights and services to streamline and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that gives me sleepless nights and rather frankly the more a service spends on global payroll the less of a photo they see a lack of exposure also reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal almost half of international services have actually revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors badly communicated hires and terminations as well as lack management and system configurations and after that when you round all of it off and the information is delivered to the wrong place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they rely on the necessary numerous processes 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 paying to employees or otherwise that's a good question I always toss this back and state what is it what doesn't require to be included ideal and what does
it require to be thought of there's varying 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 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 customer's own in-country account so there's intricacy any place you look ideal eventually constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is permitting us to kind of progress with that it also too to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing groups work better together than ever um I'm always impressed when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry 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 wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on well-being and the settlement landscape is ending up being increasingly intricate. Companies are continuously introducing brand-new benefits and payment alternatives, which adds to the general intricacy. Big corporations frequently divide their payroll and payment processing into different teams, which can result in ineffectiveness and traffic jams. In my opinion, this does not have to hold true. In today's technically sophisticated period, there's no justification for keeping cumbersome procedures. Payroll, the business's biggest expense, need to be processed properly and on time. Even slight hold-ups can adversely impact employees' well-being and have significant repercussions. For that reason, it's vital to focus on precise and prompt payments.
payroll group get um so I'm not sure anybody on this type of webinar has actually 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 employees or not um but eventually payroll is such a crucial cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment option is an excellent first step um offering an end-to-end payroll option for your employees worldwide once again I think is another substantial um process once again lining up and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of services and minimizing the variety of tools platforms and checking account they need for their International 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 expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand how how important 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 easy as possible for everyone that's associated with those procedures and also so picture sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of try to get back to everybody so carrying on look why do companies choose to main different checking account there are businesses out there doing exactly this for specific nations and I have actually worked in a company or many businesses doing precisely that I can state it doesn't always feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing additional work for anybody where we do not have to and anyone that's dealing with that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the standard I think people have got so utilized to we require a new bank account we open an entity and appropriately 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 standard and the norm the people have embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I think this is a procedure that requires taking a look at it needs altering however ultimately people are extremely stuck to what they're familiar
with right um modification is a hard thing we all don't like change um so I think it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having keeping several savings account but there's a big amount of complexity opts for setting up a bank account preserving it ensuring it can send International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is substantial but I believe the truthful response is modification um people have not had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I think it is knowledge you know and there is a component of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century or so there is a lot to keep track of and this method does present several challenges um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this improved ability, I have successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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