Find out more about Papaya Global Payroll Import Specs ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a protected and reputable technique of making payments to our 10,000 workers worldwide.}
The innovative international payroll management app improves my payroll process, saving me a significant quantity of time each month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Staff member Website
Employees have access to an Employee Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies provide competitive benefits bundles to global staff members regardless of the variety of workers in the company. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local advantages providers in every country, produce local accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total work expenses dispersed per place, total work expenses per cycle and much more.
environments across the globe I provided management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work across business handling and structure external relationships supporting Enterprise customers and solutions along with acting as a consultant for those of you that don't know who papaya International is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've type of had a variety of different functions on the company side and also on the supplier side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody originates 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 really very dreary and I want I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is especially helpful for international organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic asset 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.
Making sure precise, effective, and timely payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to optimize working capital, and discover how simplifying worldwide payroll payments can transform them from a troublesome job into a tactical asset.
Managing payroll worldwide is a daunting job due to different guidelines, compliance requirements, data security issues, and banking rules. The sheer variety of staff members and organizations adds to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically result in manual procedures, data silos, and a lack of combination, resulting in disparities and ineffectiveness. In spite of residing in an age of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to supply insights and services to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more a business spends on international payroll the less of a picture they see a lack of visibility also reaches payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide businesses have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors poorly communicated hires and terminations as well as lack management and system setups and after that when you round everything off and the information is delivered to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they depend on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties company face when they're making payments to employees or otherwise that's an excellent concern I constantly toss this back and say what is it what does not need to be included 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 nation 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 anywhere you look best ultimately building a knowledge base is definitely crucial but all over you look with payroll payment they resemble incredibly payments no if but some children 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 believe there's now a bit more recognition that payroll payments are definitely essential and technology is permitting us to sort of move forward with that it also as well to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm constantly amazed when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation 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 information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more important to add to kind of the level of complexity there's more and more advantages being organ or being offered by organizations throughout the world so again you're just aiming to include a growing number of payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine challenges or genuine tough kind of pay uses to play to pay people I think yeah I indicate over the last well yeah a couple of years I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding info into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we need to develop additional handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you know that we are operating in today there is no reason why we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from a cost perspective from an effect point of view on employees it is definitely crucial that it's done properly 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 most significant damaging result on individuals's wellness and lots of other aspects if people aren't paid uh I've constantly been astonished entering this Market sort of the last five to ten years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only notice when things go wrong. Nevertheless, 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 Worldwide and other important matters are done properly. Using the first International Payments first payroll payment service is a fantastic initial step towards providing a thorough payroll solution for employees worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and checking account required for international payroll are key consider achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things don't go as prepared. Eventually, we don't do it for the gratitude.
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 easy as possible for everyone that's involved in those processes and also so picture sorry I'm simply I was just gon na say envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions envision getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and type of try to return to everybody so proceeding appearance why do companies select to main different checking account there are organizations out there doing exactly this for particular countries and I have actually operated in a service or numerous businesses doing exactly that I can state it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing additional work for anyone where we do not have to and any person that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think 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 believe individuals have got so used to we need a new savings 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 think it's just been the requirement and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and many other methods um to to type of do it so I think there's a range I think this is a procedure that requires looking at it needs changing but ultimately people are very stuck with what they're familiar
with right um change is a tough thing all of us don't like modification um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the benefits of having preserving numerous bank accounts but there's a big amount of intricacy opts for establishing a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for private people so the complexity is huge however I believe the sincere answer is change um people haven't had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change but we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might almost be identified to be the next Century or two there is a lot to monitor and this method does pose a number of challenges um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your achievements.
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