Find out more about Papaya Global France ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to handling payments. This provides us with a safe and reputable technique of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Staff member Website provides workers with the ability to access and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in different languages.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to worldwide workers regardless of the number of workers in the company. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source local benefits providers in every nation, produce local accounts and have a minimum variety of staff members.
The HR capabilities provided by Worldwide HR include numerous functions such as monitoring holiday time, guaranteeing compliance, assisting in the procedure of inviting brand-new staff members and bidding goodbye to leaving ones, providing a safe and secure online platform for saving employees' documents, and providing assistance for work permit treatments in case your workers need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, total work costs dispersed per place, total work costs per cycle and much more.
environments across the globe I provided management and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across business managing and structure external relationships supporting Business clients and options as well as serving as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's a pleasure to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have always mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or six years where I have actually kind of had a variety of various functions on the company side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds approximately to join all of us 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 kind of like see where everyone comes from and I truly 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 extremely very gloomy and I want I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why business preserve separate
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex obstacle for organizations operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, discover how companies forecast payroll costs to optimize working capital, and discover how simplifying worldwide payroll payments can change them from a difficult job into a tactical asset.
Handling payroll internationally is an overwhelming job due to various regulations, compliance requirements, information security concerns, and banking guidelines. The large variety of employees and organizations contributes to the complexity, with an approximated 3.5 billion people in the international labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems frequently lead to manual processes, data silos, and a lack of integration, leading to disparities and inadequacies. Regardless of residing in an age of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to provide insights and services to simplify and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more a business invests in international payroll the less of a photo they see an absence of exposure also encompasses payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal almost half of international businesses have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors improperly communicated hires and terminations in addition to absence management and system configurations and then when you round everything off and the data is shipped to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they count 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 obstacles organization face when they're making payments to workers or otherwise that's a great concern I always toss this back and state what is it what does not require to be included ideal and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is definitely critical but all over you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you take a 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 basic and innovation is allowing us to sort of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and financing teams work closer together than ever um I'm constantly impressed when people say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of crucial to add to sort of the level of complexity there's increasingly more benefits being organ or being offered by businesses across the world so again you're just aiming to include increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine challenges or genuine tough kind of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of years I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding details into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we require to produce extra handoffs at the same times that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and a period that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single most significant liability that any service has from an expense point of view from an effect point of view on workers it is definitely vital 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 damaging result on individuals's well-being and numerous other factors if people aren't paid uh I've always been impressed entering into this Market type of the last five to ten years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just notice when things fail. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally as well. Therefore, it is essential to make sure that jobs like Wi-Fi Global and other essential matters are done correctly. Using the first Worldwide Payments first payroll payment option is a great initial action towards supplying a comprehensive payroll solution for staff members worldwide. Standardization, global procedures, and decreasing the number of tools, platforms, and bank accounts needed for global payroll are key factors in accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things do not go as planned. Eventually, we do not do it for the appreciation.
anyway we understand how how crucial a role 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 involved in those procedures and also so picture sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and in fact see what was going on and sort of shot to get back to everyone so moving on look why do companies pick to primary different savings account there are services out there doing precisely this for particular countries and I have actually operated in a company or lots of services doing precisely that I can state it does not always feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing additional work for anyone where we don't need to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe many factors one is it's the standard I think people have got so utilized to we require a brand-new bank account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a procedure that requires taking a look at it needs altering however eventually individuals are very stuck with what they're familiar
with right um modification is a tough thing all of us do not like modification um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having maintaining several bank accounts however there's a substantial quantity of intricacy chooses setting up a checking account preserving it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for individual people so the complexity is substantial however I believe the truthful response 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 other than opening a bank account I think you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century or so there is a lot to keep an eye on and this method does position several difficulties um so Johnny might you tell us about those difficulties yeah obviously so there's a variety right there is so
I recently made a modification to our Enterprise 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 gained another CFO, and with this boosted capability, I have successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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