Find out more about Papaya Global Payroll Slogan ... 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 actually acquired a different Chief Financial Officer particularly devoted to managing payments. This offers us with a safe and secure and trusted technique of paying to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app streamlines my payroll procedure, conserving me a considerable amount of time monthly. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Employee Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive benefits plans to global employees no matter the variety of workers in the company. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local benefits suppliers in every country, develop regional accounts and have a minimum number of workers.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work expenses distributed per location, overall work costs per cycle and far more.
environments around the world I offered management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work across the business handling and structure external relationships supporting Business customers and services in addition to acting as an advisor for those of you that don't understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for a lot of prominent business on the planet we provide payroll payments and labor force management to all employee key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon excellent night depending on where you are in the world it's beautiful 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've been in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I have actually sort of had a variety of different functions on the service provider side and also on the vendor side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very extremely bleak and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic asset uh we'll also go over a recap which should leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more common and managing them becomes more and more complicated Global organizations are seeking to discover Solutions and brand-new methods to enhance processes particularly from a payroll and cross-border payment perspective lots of organizations keep separate savings account just for payroll while some have several accounts in various nations does it make sense for companies to preserve separate checking account sometimes in different nations it does but 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 processes of
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for services running globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies forecast payroll expenses to enhance working capital, and discover how simplifying global payroll payments can transform them from a challenging job into a strategic property.
Managing payroll internationally is a daunting job due to different regulations, compliance requirements, data security issues, and banking guidelines. The large number of staff members and services contributes to the complexity, with an approximated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems often result in manual processes, information silos, and an absence of integration, resulting in disparities and inadequacies. Despite residing in a period of technological developments, 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 services to streamline and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more a company spends on global payroll the less of a photo they see a lack of presence also encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of global companies have actually revealed 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 due to time reporting poor HCM data data entry mistakes badly interacted hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is delivered to the wrong location the average cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they rely on the required multiple procedures 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 difficulties organization face when they're making payments to staff members or otherwise that's a good concern I always throw this back and say what is it what does not need to be consisted of right and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 wherever you look ideal eventually developing a knowledge base is absolutely vital but all over 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 take a 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 fundamental and innovation is permitting us to kind of progress with that it likewise also to add to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely imperative that payroll and finance groups work more detailed together than ever um I'm always astonished when individuals state 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 occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high worth on well-being and the payment landscape is ending up being increasingly complex. Companies are constantly presenting new advantages and payment options, which adds to the general complexity. Big corporations typically divide their payroll and payment processing into different teams, which can result in inadequacies and bottlenecks. In my viewpoint, this does not have to hold true. In today's highly sophisticated period, there's no reason for keeping cumbersome treatments. Payroll, the business's biggest expense, should be processed correctly and on time. Even small delays can negatively impact workers' well-being and have significant repercussions. Therefore, it's important to focus on accurate and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just see when things go wrong. However, when things go right, it's seen as just a regular task. This is how it's viewed externally also. For that reason, it is necessary to make sure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Utilizing the first Worldwide Payments very first payroll payment option is a great preliminary step towards offering a comprehensive payroll service for staff members worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and checking account essential for international payroll are essential consider accomplishing organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyhow we know how how crucial a function 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 associated with those processes and also so envision sorry I'm simply I was simply gon na state picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and type of try to return to everybody so proceeding appearance why do business select to main separate checking account there are services out there doing exactly this for specific nations and I've operated in a business or many businesses doing precisely that I can state it doesn't always feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for anyone where we do not need to and anybody that's dealing with 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 utilized to we require a brand-new savings account we open an entity and appropriately so you need it for payroll functions 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 individuals have adopted 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 many other ways um to to type of do it so I think there's a variety I believe this is a procedure that requires taking a look at it needs changing however ultimately individuals are extremely stuck with what they recognize
with best um modification is a difficult thing we all do not like change um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having maintaining several savings account however there's a substantial amount of complexity chooses setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for specific people so the intricacy is huge however I believe the honest response is modification um people haven't had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could almost be determined to be the next Century or so there is a lot to keep track of and this method does pose numerous difficulties um so Johnny could you tell us about those challenges yeah of course 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 staff members you deserve 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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