Find out more about Papaya Global Payroll Ios App ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and trusted technique of paying to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app simplifies my payroll process, saving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Employee Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive benefits bundles to international staff members no matter the variety of workers in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source regional advantages companies in every nation, create regional accounts and have a minimum number of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, overall work costs dispersed per place, total work costs per cycle and far more.
environments around the world I supplied management and strategy 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 clients and options along with acting as a consultant for those of you that do not know who papaya International is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential business on the planet we supply payroll payments and workforce management to all worker types in over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon excellent night depending upon where you are in the world it's lovely to meet 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 remained in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've type of had a variety of different functions on the provider side and likewise 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 everybody fine thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly 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 very uninspiring and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll likewise discuss a wrap-up and that ought to leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become a growing number of common and managing them becomes a growing number of complex Global organizations are seeking to discover Solutions and new ways to simplify procedures especially from a payroll and cross-border payment standpoint numerous organizations keep separate bank account just for payroll while some have multiple accounts in various countries does it make sense for companies to preserve different checking account in some cases in various 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 helping international companies simplify the episode complex procedures of
Ensuring precise, effective, and prompt payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to enhance working capital, and find how improving global payroll payments can transform them from a challenging job into a strategic possession.
Handling payroll internationally is an overwhelming task due to various policies, compliance requirements, data security concerns, and banking guidelines. The sheer number of employees and organizations adds to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual procedures, information silos, and a lack of combination, resulting in inconsistencies and ineffectiveness. Regardless of residing in an age of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to supply insights and options to streamline and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more a company invests in worldwide payroll the less of an image they see an absence of presence likewise extends to payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes improperly communicated hires and terminations along with lack management and system configurations and then when you round it all off and the information is shipped to the wrong location the typical cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they rely on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles company face when they're paying to employees or otherwise that's a great question I always throw this back and say what is it what doesn't need to be included ideal and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look best ultimately building a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to type of move on with that it likewise also to add to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is absolutely necessary that payroll and financing groups work closer together than ever um I'm always amazed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more crucial to add to type of the level of complexity there's more and more benefits being organ or being provided by services throughout the world so once again you're simply aiming to add increasingly more payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine difficulties or genuine challenging sort of pay utilizes to play to pay people I think yeah I mean over the last well yeah a couple of decades I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams 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 does not always need 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 just make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and a period that you understand that we are working in today there is no reason why we are still making this as challenging as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from a cost viewpoint from an effect perspective on employees it is absolutely important that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful result on people's wellness and numerous other elements if people aren't paid uh I have actually constantly been amazed entering into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this things is done properly so leveraging the first International Payments very first payroll payment solution is a terrific first step um supplying an end-to-end payroll service for your staff members internationally again I think is another substantial um procedure once again aligning and ensuring you have standardization International procedures all of those things are definitely essential to success success of companies and lowering the number of tools platforms and checking account they need for their Worldwide 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've never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I do not believe any of us are actually doing that for for the thanks
anyway we know how how important a role 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 simple as possible for everybody that's involved in those procedures and also so picture sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and in fact see what was going on and type of try to return to everyone so moving on appearance why do business pick to primary separate bank accounts there are services out there doing precisely this for particular countries and I have actually operated in an organization or lots of businesses doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not creating additional work for anyone where we do not have to and anyone that's handling 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 think many reasons one is it's the standard I believe people have got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard the people have actually embraced and continue to do over years and years passed by to contribute 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 range I think this is a procedure that needs looking at it needs altering but eventually people are extremely 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 just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having preserving numerous checking account however there's a huge quantity of complexity opts for setting up a savings account keeping it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is substantial but I think the truthful response is modification um individuals have not had the ability to alter or haven't had necessarily the knowledge to actually 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 have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century approximately there is a lot to track and this technique does posture numerous obstacles um so Johnny might you tell us about those difficulties yeah obviously 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 handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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