Find out more about Papaya Global Payroll Provider Address ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to managing payments. This supplies us with a safe and secure and trustworthy approach of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app enhances my payroll process, conserving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Worker Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work files. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive benefits packages to worldwide staff members regardless of the number of workers in the business. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source local benefits companies in every country, develop regional accounts and have a minimum number of staff members.
The HR abilities supplied by Worldwide HR incorporate numerous functions such as keeping track of trip time, making sure compliance, assisting in the procedure of inviting new employees and bidding farewell to departing ones, providing a secure online platform for saving workers' files, and supplying assistance for work permit treatments in case your workers need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall employment costs dispersed per location, overall employment expenses per cycle and a lot more.
Worldwide, I have demonstrated leadership and strategic competence in directing massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for supervising payroll techniques, as discussed by Mark. My function involves managing and developing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for many influential business on the planet we offer payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great evening depending on where you remain in the world it's beautiful to fulfill you and thank you very much for your time as Ian stated 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 particularly working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually type of had a range of different roles on the provider side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I really 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 very bleak and I wish I was elsewhere at this moment in time fine 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 Global payroll why business keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll likewise go over a recap which needs to leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more common and managing them ends up being a growing number of complex Global companies are wanting to find Solutions and brand-new methods to simplify processes specifically from a payroll and cross-border payment perspective lots of companies maintain different checking account just for payroll while some have numerous accounts in different nations does it make good sense for companies to preserve separate bank accounts in some cases in different countries it does however just for payroll exists a better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business simplify the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for services operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to enhance working capital, and find how enhancing international payroll payments can transform them from a burdensome task into a tactical asset.
Handling payroll worldwide is an overwhelming task due to numerous policies, compliance requirements, information security issues, and banking rules. The sheer number of employees and companies contributes to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often result in manual procedures, information silos, and an absence of integration, leading to inconsistencies and inefficiencies. Regardless of living in an era of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to provide insights and options to simplify and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more a business invests in global payroll the less of a picture they see a lack of exposure also encompasses payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide organizations have expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors improperly interacted hires and terminations along with lack management and system setups and then when you round it all off and the information is shipped to the incorrect location the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they depend on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles organization face when they're paying to workers or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be considered there's differing Bank details 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 need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy anywhere you look ideal eventually building a knowledge base is absolutely vital however all over you look with payroll payment they resemble incredibly payments no if however 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 think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to type of progress with that it likewise as well to add to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work better together than ever um I'm constantly astonished when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't 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 people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to add to type of the level of intricacy there's a growing number of advantages being organ or being used by companies across the world so again you're just looking to include more and 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 certain but have you got any experience in kind of genuine obstacles or genuine tough kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would certainly state that the bigger a business 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 information into the next function as it were that's actually handling the payment side of things however you understand 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 produce extra handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any company has from an expense perspective from an effect perspective on employees it is absolutely critical 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 biggest destructive effect on individuals's wellness and lots of other aspects if people aren't paid uh I've constantly been impressed coming into this Market kind of the last 5 to 10 years is how little thanks the
The payroll team might not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only observe when things go wrong. However, when things go right, it's seen as just a regular job. This is how it's viewed externally too. For that reason, it is necessary to make sure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the very first International Payments first payroll payment service is an excellent preliminary step towards providing an extensive payroll service for staff members worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and checking account essential for worldwide payroll are crucial factors in accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things don't go as planned. Eventually, we don't do it for the gratitude.
anyway we understand 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 simple as possible for everybody that's involved in those procedures and likewise so think of sorry I'm simply I was simply gon na say envision 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 discussing hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of 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 think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and sort of shot to return to everybody so moving on look why do companies pick to main separate checking account there are organizations out there doing precisely this for specific countries and I've worked in an organization or many services doing exactly that I can say it does not constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not producing extra work for anybody where we don't need to and anyone that's handling that procedure 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 think lots of reasons one is it's the standard I believe people have actually got so used to we need a brand-new bank 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 believe it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I believe this is a process that needs looking at it needs changing however eventually individuals are really stuck to what they recognize
with ideal um modification is a difficult thing we all don't like change um so I think it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having maintaining several checking account but there's a big amount of complexity goes with establishing a checking account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private individuals so the intricacy is big however I think the honest answer is modification um individuals have not been able to change or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could almost be determined to be the next Century approximately there is a lot to keep an eye on and this method does posture several obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I simply did you switched our Business 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 workers you should have a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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