Find out more about Papaya Global Payroll One Employee ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a protected and reputable method of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Worker Portal
Employees have access to a Worker Website where they can view their pay slips, wage and tax declarations and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive advantages plans to global workers regardless of the variety of staff members in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source local benefits companies in every nation, develop local accounts and have a minimum number of staff members.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total employment costs dispersed per place, total employment expenses per cycle and much more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work across business managing and building external relationships supporting Enterprise 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 very first payroll and payments
company to make the time 100 list for most influential companies in the world we supply payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon good night depending on where you are in the world it's charming 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 10 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 decided to sort of make a genuine go at that over the last 5 or 6 years where I've sort of had a range of different roles on the service provider side and also on the vendor side from a payroll point of view so really anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds or two to join we all 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 sort of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very extremely dreary and I want I was somewhere else 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 obstacle years of managing International payroll why companies preserve different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic asset uh we'll also discuss a recap and that should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more typical and managing them becomes increasingly more intricate Global companies are wanting to find Solutions and brand-new ways to simplify procedures especially from a payroll and cross-border payment perspective numerous organizations keep different checking account just for payroll while some have several accounts in various nations does it make good sense for companies to keep different checking account often in different countries it does but just for payroll is there a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business simplify the episode complex procedures of
Making sure precise, efficient, and timely payroll payments is a complex challenge for organizations running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, discover how companies forecast payroll costs to enhance working capital, and find how simplifying global payroll payments can change them from a challenging task into a tactical property.
Handling payroll internationally is an overwhelming task due to different regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of workers and organizations contributes to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently lead to manual procedures, information silos, and an absence of combination, leading to inconsistencies and inadequacies. Regardless of living in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to offer insights and solutions to simplify and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization invests in international payroll the less of an image they see a lack of exposure likewise extends to payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide services have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors improperly interacted hires and terminations as well as absence management and system configurations and then when you round everything off and the data is delivered to the incorrect location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they depend on the required numerous 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 obstacles company face when they're paying to employees or otherwise that's a great concern I always toss this back and state what is it what doesn't require to be included right and what does
it need to be thought of there's varying Bank details 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 abilities 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 customer's own in-country account so there's complexity any place you look best ultimately constructing a knowledge base is absolutely vital however all over you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the sort 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 absolutely basic and innovation is allowing us to type of move forward with that it likewise also to add to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup processes is absolutely necessary that payroll and financing groups work more detailed together than ever um I'm always surprised when individuals say I have actually 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 computation I would say no so why do we as an industry accept that why our payroll and payments so often 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 wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on wellness and the settlement landscape is ending up being significantly intricate. Businesses are constantly introducing new advantages and payment alternatives, which contributes to the total intricacy. Large corporations often divide their payroll and payment processing into different groups, which can result in inadequacies and traffic jams. In my opinion, this does not have to hold true. In today's highly innovative era, there's no justification for keeping troublesome treatments. Payroll, the company's greatest expense, need to be processed correctly and on time. Even small delays can negatively impact employees' wellness and have significant effects. For that reason, it's crucial to prioritize accurate and prompt payments.
payroll group get um so I'm not exactly sure anyone on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it fails but when it goes right it's simply 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 correctly so leveraging the very first International Payments very first payroll payment service is a great initial step um supplying an end-to-end payroll solution for your workers globally again I believe is another big um procedure once again lining up and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of businesses and decreasing the variety of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in terms of 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 haven't 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
anyway we know how how essential 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 easy as possible for everyone that's involved in those processes and also so envision sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean up 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 need days of the week to attempt to browse them and in fact see what was going on and kind of try to return to everybody so carrying on look why do business pick to primary different checking account there are organizations out there doing exactly this for specific countries and I have actually worked in a service or lots of organizations doing exactly that I can state it does not always feel effective and it does create more work I understand we're not deliberately doing that we're not developing extra work for anyone where we don't have to and anybody that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the requirement I believe people have got so utilized to we require a brand-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 individuals have embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I believe this is a process that needs taking a look at it requires altering however eventually people are extremely stuck with what they're familiar
with best um change is a challenging thing we all don't like change um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having maintaining multiple bank accounts however there's a big amount of complexity opts for setting up a savings account keeping it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for individual individuals so the complexity is huge but I believe the sincere response is change um people haven't been able to change or have not had always the understanding to really make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century approximately there is a lot to keep an eye on and this approach does pose several obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you are worthy of a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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