Find out more about Papaya Global Madagascar ... We now have the capability 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 managing payments. This supplies us with a safe and secure and reliable approach of paying to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Worker Portal
Staff members have access to a Worker Website where they can see 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 device.
Advantages Administration
Papaya Global assists business use competitive advantages plans to international workers despite the variety of staff members in the business. The business can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source local benefits companies in every nation, develop local accounts and have a minimum variety of employees.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total work expenses dispersed per place, overall work expenses per cycle and a lot more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across the business handling and structure external relationships supporting Business customers and services as well as serving as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for most influential business on the planet we supply payroll payments and workforce management to all staff member types in over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent evening depending upon where you are in the world it's lovely to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually type of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or so to join all of us 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 everyone is um it's nice to to sort of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really really gloomy and I wish I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies maintain separate
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a strategic possession for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, effective, and timely payroll payments is a complex difficulty for businesses running worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, find out how business forecast payroll expenses to enhance working capital, and discover how streamlining worldwide payroll payments can change them from a challenging job into a tactical asset.
Managing payroll internationally is a daunting task due to numerous policies, compliance requirements, data security issues, and banking rules. The large variety of employees and businesses adds to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems frequently lead to manual processes, information silos, and an absence of integration, causing disparities and inefficiencies. Despite residing in an age of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to offer insights and options to streamline and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies 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 company spends on global payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the transaction almost half of global organizations have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes poorly interacted hires and terminations along with lack management and system setups and after that when you round everything off and the data is delivered to the wrong place the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they count on the needed numerous processes 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 company face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't need to be included ideal and what does
it need to be thought about there's varying 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 abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy wherever you look right eventually developing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble incredibly payments no if however 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 recognition that payroll payments are definitely fundamental and technology is permitting us to type of move forward with that it likewise also to add to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely necessary that payroll and financing teams work more detailed together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't 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 typically 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 people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on well-being and the compensation landscape is ending up being progressively complex. Services are continuously introducing brand-new advantages and payment choices, which contributes to the general complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can result in inefficiencies and bottlenecks. In my viewpoint, this does not have to be the case. In today's highly sophisticated era, there's no validation for preserving troublesome procedures. Payroll, the company's most significant expense, must be processed properly and on time. Even minor delays can adversely affect staff members' wellness and have far-reaching effects. For that reason, it's crucial to prioritize accurate and timely payments.
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just observe when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's viewed externally as well. Therefore, it is important to guarantee that jobs like Wi-Fi Global and other vital matters are done correctly. Utilizing the first International Payments first payroll payment service is a terrific preliminary step towards offering a comprehensive payroll option for staff members worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and bank accounts needed for worldwide payroll are crucial factors in accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few complaints when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyway we understand how how essential 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 procedures and likewise so picture sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and actually see what was going on and kind of try to return to everyone so carrying on appearance why do business select to main different bank accounts there are organizations out there doing precisely this for particular countries and I've worked in a company or lots of companies doing precisely that I can state it does not always feel effective and it does develop more work I know we're not purposely doing that we're not creating additional work for anybody where we do not have 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 standard I believe people have got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just 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 taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I believe this is a process that needs taking a look at it needs altering but eventually individuals are really stuck with what they're familiar
with best um change is a challenging thing we all don't like change um so I believe it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having preserving several savings account however there's a big quantity of complexity opts for setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the intricacy is big but I think the truthful response is modification um individuals have not been able to change or haven't had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but we have actually always done it that way is no genuine excuse 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 approach does position several obstacles um so Johnny could you inform us about those challenges yeah naturally so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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