Find out more about Papaya Global Payroll For Previous Months ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly committed to managing payments. This supplies us with a safe and secure and reliable technique of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
The Staff member Website offers workers with the ability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global assists companies use competitive advantages plans to worldwide staff members despite the number of workers in the company. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source regional benefits providers in every nation, develop local accounts and have a minimum variety of staff members.
The HR abilities supplied by Worldwide HR incorporate numerous functions such as monitoring holiday time, ensuring compliance, helping with the process of welcoming new employees and bidding farewell to leaving ones, using a protected online platform for saving workers' documents, and offering assistance for work allow procedures in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, total employment costs distributed per area, total employment costs per cycle and much more.
environments across the globe I offered management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout business handling and building external relationships supporting Enterprise customers and services in addition to functioning as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for a lot of influential business worldwide we offer payroll payments and labor force management to all staff member enters over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon excellent night depending upon where you are in the world it's lovely to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I've sort of had a variety of various functions on the company side and likewise on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone originates from and I actually do hope it's much sunnier than it remains 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 extremely very uninspiring and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies keep separate
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different checking account for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex challenge for businesses running internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll expenses to optimize working capital, and discover how improving international payroll payments can change them from a burdensome task into a strategic property.
Managing payroll globally is a challenging task due to various guidelines, compliance requirements, information security concerns, and banking guidelines. The large number of employees 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.
Conventional payroll systems often lead to manual processes, data silos, and a lack of integration, resulting in inconsistencies and inefficiencies. Despite residing in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to offer insights and services to simplify and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more a company spends on worldwide payroll the less of a picture they see an absence of presence also encompasses payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of global companies 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 errors are because of time reporting poor HCM data information entry errors improperly communicated hires and terminations as well as lack management and system configurations and then when you round it all off and the data is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they count on the needed several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're making payments to staff members or otherwise that's an excellent concern I always toss this back and state what is it what does not require to be consisted of right and what does
it need to be thought about 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 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 consumer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is absolutely important but everywhere you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you 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 definitely fundamental and innovation is allowing us to sort of move forward with that it likewise too to add to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely crucial that payroll and finance groups work more detailed together than ever um I'm always amazed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high value on wellness and the settlement landscape is becoming increasingly elaborate. Companies are constantly presenting brand-new advantages and payment choices, which adds to the total intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to ineffectiveness and traffic jams. In my opinion, this does not need to hold true. In today's technically innovative period, there's no validation for preserving cumbersome procedures. Payroll, the company's greatest expense, must be processed properly and on time. Even slight delays can adversely impact staff members' wellness and have far-reaching repercussions. For that reason, it's crucial to focus on precise and prompt payments.
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's seen as just a regular task. This is how it's viewed externally also. Therefore, it is important to guarantee that jobs like Wi-Fi International and other vital matters are done correctly. Utilizing the very first International Payments very first payroll payment option is an excellent preliminary action towards supplying an extensive payroll service for staff members worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and bank accounts required for international payroll are crucial consider accomplishing service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things don't go as planned. Eventually, we do not do it for the thankfulness.
anyway we know how how important 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 simple as possible for everybody that's involved in those procedures and likewise so think of sorry I'm simply I was simply gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of 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 a fascinating job attempting to clean all those up for sure oh absolutely 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 attempt to check out them and in fact see what was going on and kind of try to get back to everyone so carrying on appearance why do business pick to main separate savings account there are services out there doing precisely this for specific nations and I've worked in an organization or lots of services doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not developing extra work for anybody where we do not have to and anybody that's managing 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 amount that we are I believe numerous reasons one is it's the standard I think people have actually got so utilized to we need a brand-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 embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I think this is a process that needs looking at it needs changing but ultimately individuals are extremely stuck with what they're familiar
with ideal um modification is a hard thing all of us do not like change um so I think it's just sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having maintaining numerous checking account however there's a huge quantity of intricacy opts for setting up a bank account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for individual people so the complexity is substantial however I believe the truthful response is change um people have not been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to change but we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to monitor and this approach does position numerous challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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