Find out more about Papaya Global Payroll Unemploymwnt ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and reliable approach of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Worker Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive advantages plans to global workers despite the variety of workers in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source regional benefits service providers in every nation, produce local accounts and have a minimum variety of workers.
The HR abilities offered by Global HR encompass various functions such as keeping track of getaway time, making sure compliance, assisting in the process of welcoming new staff members and bidding goodbye to leaving ones, using a safe and secure online platform for storing employees' documents, and offering assistance for work permit treatments in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total employment expenses distributed per place, overall work expenses per cycle and far more.
Worldwide, I have actually shown management and strategic know-how in assisting massive populations of over 100,000 employees across 170 nations. Presently, I am responsible for supervising payroll techniques, as discussed by Mark. My function involves managing and developing external partnerships, supporting Enterprise customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
company to make the time 100 list for a lot of influential business worldwide we offer payroll payments and workforce management to all staff member key ins 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 obviously thank you good morning great afternoon excellent night depending on where you remain in the world it's beautiful to meet 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 10 years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of different roles on the company side and also on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back these days 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 everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it remains 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 extremely extremely gloomy and I want I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business preserve separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll also discuss a wrap-up 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 moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more common and managing them becomes a growing number of complex International companies are aiming to find Solutions and new methods to improve procedures particularly from a payroll and cross-border payment viewpoint lots of organizations keep different savings account just for payroll while some have several accounts in different nations does it make good sense for business to maintain separate bank accounts often in various nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business improve the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for companies running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll costs to enhance working capital, and find how improving worldwide payroll payments can change them from a burdensome job into a tactical property.
Managing payroll worldwide is a challenging task due to different guidelines, compliance requirements, data security issues, and banking rules. The sheer number of workers and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems frequently lead to manual procedures, data silos, and an absence of combination, causing inconsistencies and ineffectiveness. Regardless of living in an era of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to provide insights and solutions to simplify and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more a company invests in worldwide payroll the less of an image they see an absence of visibility also encompasses payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the transaction almost half of global services have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes poorly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the data is delivered to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they depend on the required several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're making payments to workers or otherwise that's an excellent question I always toss this back and say what is it what doesn't need to be consisted of 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 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 customer's own in-country account so there's complexity wherever you look best ultimately developing a knowledge base is absolutely critical but all over 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 type 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 basic and innovation is enabling us to kind of move on with that it also also to contribute to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely essential that payroll and finance groups work closer together than ever um I'm always impressed when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on well-being and the compensation landscape is becoming significantly intricate. Businesses are continuously introducing brand-new benefits and payment alternatives, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into different groups, which can result in inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's technologically sophisticated period, there's no reason for maintaining cumbersome procedures. Payroll, the business's biggest expenditure, need to be processed correctly and on time. Even small hold-ups can adversely impact staff members' well-being and have far-reaching consequences. For that reason, it's crucial to focus on accurate and timely 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 correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the first International Payments first payroll payment option is a great first step um offering an end-to-end payroll option for your workers globally again I believe is another big um procedure again lining up and guaranteeing you have standardization Global processes all of those things are definitely essential to success success of businesses and lowering the number of tools platforms and checking account they require for their International 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 rather where they're suggested to be um I don't think any of us are really doing that for for the thanks
anyway we know how how important 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 everybody that's involved in those procedures and also so imagine sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions picture getting that many 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 an interesting task attempting to clean all those up for sure oh definitely 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 check out them and in fact see what was going on and sort of try to return to everybody so carrying on look why do business select to primary different checking account there are organizations out there doing exactly this for specific nations and I've operated in a company or many organizations doing precisely that I can state it doesn't always feel effective and it does create more work I know we're not deliberately doing that we're not creating extra work for any person where we don't have to and anyone 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 think lots of reasons one is it's the standard I think people have got so utilized to we need a brand-new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard the people have actually embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I believe this is a process that needs taking a look at it needs changing however ultimately people are extremely stuck to what they're familiar
with ideal um change is a difficult thing we all do not like modification um so I believe it's simply sort 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 comprehend clearly the benefits of having preserving several bank accounts however there's a big amount of complexity chooses establishing a checking account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is big however I believe the sincere answer is change um people have not been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we've always done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century or so there is a lot to track and this technique does present numerous obstacles um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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