Find out more about Papaya Global Payroll Mercari ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and trustworthy approach of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Worker Portal provides staff members with the capability to gain access to and view important documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global helps companies provide competitive benefits plans to global staff members regardless of the number of workers in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source regional benefits suppliers in every country, produce regional accounts and have a minimum number of workers.
The HR capabilities offered by International HR include various functions such as keeping track of holiday time, guaranteeing compliance, facilitating the process of inviting brand-new employees and bidding farewell to leaving ones, providing a safe online platform for saving employees' documents, and providing assistance for work permit procedures in case your workers require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment expenses distributed per location, overall employment expenses per cycle and much more.
environments around the world I provided management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business managing and building external relationships supporting Business customers and solutions as well as acting as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a satisfaction to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have focused on payroll and payment options for the past seven years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've type of had a variety of various functions on the supplier side and also on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to sort 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 drizzling here it's extremely really dreary and I want 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 handling International payroll why companies keep separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex challenge for businesses operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how companies anticipate payroll costs to optimize working capital, and find how enhancing international payroll payments can transform them from a burdensome task into a strategic property.
Handling payroll worldwide is a challenging task due to various regulations, compliance requirements, information security issues, and banking rules. The large variety of staff members and services adds to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual procedures, information silos, and a lack of integration, leading to inconsistencies and ineffectiveness. Regardless of residing in an age of technological developments, payroll management has been sluggish to adapt, 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 streamline and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that gives me sleep deprived nights and rather frankly the more a business invests in worldwide payroll the less of a picture they see an absence of visibility likewise extends to payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of global businesses have revealed that they don't 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 information data entry mistakes poorly communicated hires and terminations along with absence management and system configurations and then when you round it all off and the data is delivered 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 money worldwide payroll and payments don't run smoothly if they rely on the necessary multiple 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 staff members or otherwise that's a good question I constantly throw this back and state what is it what does not 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 amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look ideal ultimately building a knowledge base is absolutely critical however everywhere you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type 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 essential and technology is enabling us to type of progress with that it also too to contribute to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely vital that payroll and financing teams work closer together than ever um I'm constantly amazed when people state I've divided 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 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on wellness and the compensation landscape is ending up being significantly complex. Organizations are continually introducing new benefits and payment choices, which adds to the general complexity. Big corporations frequently divide their payroll and payment processing into separate groups, which can result in inadequacies and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's highly innovative period, there's no validation for maintaining troublesome procedures. Payroll, the business's biggest cost, must be processed correctly and on time. Even minor hold-ups can negatively impact employees' wellness and have significant repercussions. For that reason, it's critical to focus on accurate and timely payments.
payroll team get um so I'm uncertain anybody on this type of webinar has been told 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 but ultimately payroll is such an important cycle we all become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment option is a great initial step um offering an end-to-end payroll option for your workers worldwide again I think is another huge um process again lining up and guaranteeing you have standardization Global processes all of those things are definitely crucial to success success of organizations and decreasing the variety of tools platforms and bank accounts they require 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 do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how crucial 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 processes and also so imagine sorry I'm just I was just gon na say think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions think of getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and kind of try to return to everyone so moving on look why do business select to primary different checking account there are businesses out there doing exactly this for specific nations and I've operated in a business or numerous businesses doing precisely that I can say it doesn't constantly feel effective and it does produce more work I understand we're not purposely doing that we're not producing additional work for anyone where we do not need 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 factors one is it's the requirement I believe individuals have actually got so used to we need a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I think this is a process that requires taking a look at it requires changing but eventually individuals are very stuck to what they recognize
with best um modification is a tough thing all of us do not like modification um so I think it's just kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having maintaining several savings account however there's a big amount of complexity goes with establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for private individuals so the intricacy is big however I think the sincere response is change um individuals haven't been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter however we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to track and this approach does posture a number of obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you deserve a corner workplace with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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