Find out more about Papaya Global Payroll Overview Pdf Download ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to handling payments. This provides us with a safe and dependable method of making payments to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app simplifies my payroll procedure, conserving me a substantial quantity of time each month. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
The Staff member Portal provides workers with the capability 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 devices and is provided in different languages.
Benefits Administration
Papaya Global assists business offer competitive benefits bundles to international employees no matter the number of employees in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source local advantages service providers in every nation, develop local accounts and have a minimum number of employees.
The HR abilities supplied by Global HR incorporate various functions such as keeping an eye on trip time, guaranteeing compliance, facilitating the procedure of inviting brand-new employees and bidding farewell to departing ones, using a safe and secure online platform for storing workers' files, and providing assistance for work permit procedures in case your workers need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment expenses distributed per area, total work costs per cycle and far more.
environments around the world I supplied leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business handling and structure external relationships supporting Business clients and services as well as acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for a lot of influential companies in the world we provide payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good night depending on where you remain in the world it's lovely to fulfill you and thank you quite 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 specifically working on the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and chose to kind 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 service provider side and also on the vendor side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply 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 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 very extremely gloomy and I want I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya Global payroll payments as a tactical possession uh we'll also review a recap which should leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more common and managing them becomes more and more complex International organizations are seeking to discover Solutions and brand-new ways to improve processes especially from a payroll and cross-border payment viewpoint numerous companies maintain separate checking account just for payroll while some have numerous accounts in various countries does it make sense for companies to keep separate checking account often in various nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational companies simplify the episode complex processes of
Ensuring precise, effective, and timely payroll payments is a complex difficulty for companies running worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, discover how business anticipate payroll costs to optimize working capital, and discover how simplifying international payroll payments can change them from a burdensome job into a strategic asset.
Handling payroll internationally is a complicated job due to various regulations, compliance requirements, data security concerns, and banking rules. The large number of workers and businesses contributes to the complexity, with an estimated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems often result in manual processes, information silos, and an absence of integration, leading to disparities and ineffectiveness. In spite of residing in an age of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to offer insights and services to streamline and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that gives me sleepless nights and rather frankly the more a service spends on worldwide payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide services have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes inadequately interacted hires and terminations as well as absence management and system configurations and then when you round everything off and the information is delivered to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they rely on the needed numerous 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 workers or otherwise that's a great concern I always throw this back and say what is it what does not need to be included right 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 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 consumer's own in-country account so there's intricacy wherever you look best eventually constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to kind of move forward with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance groups work better together than ever um I'm constantly astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from estimation 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 individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to add to kind of the level of intricacy there's more and more advantages being organ or being provided by services across the world so once again you're just wanting to include a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine challenging kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding info into the next function as it were that's in fact managing the payment side of things however 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 require to produce extra handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an era 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 difficult as it requires to be agreed and rightly as you said payroll is the single biggest liability that any organization has from an expense perspective from an effect point of view on staff members it is absolutely important that it's done correctly and on time so what we imply 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 detrimental impact on individuals's well-being and many other elements if people aren't paid uh I've always been astonished entering into this Market kind of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally also. Therefore, it is important to make sure that jobs like Wi-Fi Global and other essential matters are done correctly. Using the very first International Payments first payroll payment service is an excellent preliminary action towards providing a detailed payroll service for employees worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and bank accounts necessary for global payroll are essential factors in accomplishing company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyway we understand 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 simple as possible for everyone that's associated with those procedures and likewise so envision sorry I'm just I was just gon na say think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job 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 in fact see what was going on and kind of shot to get back to everybody so moving on look why do business choose to main different savings account there are businesses out there doing precisely this for specific nations and I've worked in a service or many services doing exactly that I can say it does not constantly feel effective and it does create 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 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 lots of factors one is it's the standard I believe individuals have actually got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals have 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 variety I think this is a process that needs looking at it needs changing however ultimately people are extremely stuck with what they're familiar
with right um change is a difficult thing all of us do not like change um so I think it's just type 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 understand obviously the benefits of having preserving multiple checking account however there's a big quantity of complexity chooses setting up a bank account maintaining it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for private individuals so the complexity is huge but I believe the honest answer is modification um people have not been able to change or haven't had necessarily the understanding to actually make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could nearly be determined to be the next Century or so there is a lot to track and this method does present a number of difficulties um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I simply 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 Global staff members you are worthy of a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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