Find out more about Papaya Global Payroll Tax Holiday ... We now have the capability to manage 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 devoted to managing payments. This provides us with a secure and reliable approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Employee Website provides workers with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global assists companies offer competitive advantages packages to worldwide workers despite the variety of workers in the business. The business can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source regional benefits companies in every nation, produce regional accounts and have a minimum number of employees.
The HR abilities provided by Worldwide HR encompass various functions such as keeping an eye on getaway time, guaranteeing compliance, assisting in the process of welcoming new employees and bidding goodbye to leaving ones, using a protected online platform for keeping workers' files, and offering support for work allow treatments in case your employees need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, overall work expenses dispersed per location, total employment costs per cycle and much more.
Internationally, I have demonstrated management and tactical expertise in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My function includes managing and developing external collaborations, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
business to make the time 100 list for a lot of prominent business worldwide we supply payroll payments and labor force management to all employee enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon excellent evening depending on where you are in the world it's beautiful to satisfy 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 been in the payments industry for over ten years and specifically working on 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 six years where I've type of had a range of different functions on the company side and likewise on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone 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 remains 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 extremely very 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 looking at the challenge years of handling International payroll why companies keep different
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is especially helpful for global organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining different checking account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex difficulty for businesses operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, find out how business forecast payroll expenses to enhance working capital, and discover how streamlining international payroll payments can change them from a challenging task into a strategic possession.
Handling payroll internationally is a difficult job due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The sheer number of workers and companies contributes to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically result in manual procedures, information silos, and an absence of integration, resulting in inconsistencies and inefficiencies. In spite of residing in a period of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to supply insights and services to simplify and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more a service spends on worldwide payroll the less of a photo they see an absence of exposure likewise reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the transaction nearly half of global businesses have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors poorly communicated hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is shipped to the wrong location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they depend on the essential several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges service face when they're making payments to employees or otherwise that's a great concern I always toss this back and say what is it what doesn't require to be consisted of ideal and what does
it need to be thought about there's differing 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 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 customer's own in-country account so there's complexity wherever you look right eventually building a knowledge base is definitely critical however everywhere you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and technology is allowing us to sort of progress with that it likewise as well to add to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely crucial that payroll and financing teams work closer together than ever um I'm constantly surprised when individuals say I've split payroll and payment um if you stroll 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 frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on well-being and the compensation landscape is ending up being significantly complex. Companies are continually introducing new advantages and payment options, which contributes to the overall intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can cause inadequacies and bottlenecks. In my opinion, this does not have to hold true. In today's technologically advanced era, there's no validation for maintaining cumbersome treatments. Payroll, the business's most significant expense, must be processed properly and on time. Even slight delays can negatively affect employees' wellness and have significant repercussions. Therefore, it's vital to prioritize precise and prompt payments.
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just see when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally as well. For that reason, it is necessary to guarantee that tasks like Wi-Fi International and other important matters are done correctly. Utilizing the first International Payments very first payroll payment service is a terrific preliminary action towards offering a detailed payroll service for staff members worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and checking account essential for international payroll are crucial consider achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as planned. Ultimately, we do not do it for the thankfulness.
anyhow we understand how how important 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 everybody that's associated with those processes and likewise so imagine sorry I'm simply I was just gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions think of getting that many thank you notes um I suggest 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 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 really see what was going on and sort of shot to get back to everybody so moving on look why do business choose to main separate checking account there are organizations out there doing precisely this for particular countries and I've operated in an organization or many businesses doing precisely that I can say it doesn't constantly feel effective and it does create more work I understand we're not deliberately doing that we're not developing additional work for anybody where we don't need to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of factors one is it's the requirement I think individuals have got so utilized to we require a new bank account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I believe this is a process that requires taking a look at it needs changing but eventually individuals are extremely stuck with what they recognize
with ideal um change is a challenging thing all of us do not like modification um so I think it's simply sort 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 keeping multiple bank accounts but there's a substantial quantity of complexity goes with establishing a savings account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for private people so the intricacy is huge but I believe the sincere response is change um individuals haven't been able to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could almost be determined to be the next Century or two there is a lot to track and this method does pose a number of difficulties um so Johnny might you inform us about those obstacles 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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