Find out more about Papaya Global Namely ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a secure and trusted method of paying to our 10,000 workers worldwide.}
The innovative international payroll management app streamlines my payroll procedure, conserving me a significant amount of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
The Staff member Website provides workers with the capability to access and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to global employees despite the number of employees in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source regional advantages service providers in every country, produce regional accounts and have a minimum variety of workers.
The HR abilities offered by International HR encompass numerous functions such as keeping an eye on holiday time, guaranteeing compliance, assisting in the procedure of inviting new employees and bidding goodbye to leaving ones, using a safe online platform for storing workers' files, and providing support for work permit procedures in case your staff members need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, total employment expenses distributed per place, total work costs per cycle and a lot more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business managing and building external relationships supporting Enterprise clients and options along with serving as an advisor for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on providing payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of various functions on the supplier side and also on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I really 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 drizzling here it's very extremely bleak and I want I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies preserve separate
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for services running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to enhance working capital, and find how streamlining global payroll payments can transform them from a troublesome task into a strategic property.
Managing payroll globally is a difficult task due to various policies, compliance requirements, data security issues, and banking rules. The large variety of employees and businesses adds to the complexity, with an estimated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and an absence of combination, causing disparities and inefficiencies. In spite of living in an era of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to supply insights and services to simplify and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization invests in international payroll the less of a photo they see a lack of visibility also reaches payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of international services have actually revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes inadequately communicated hires and terminations in addition to absence management and system configurations and then when you round all of it off and the information is delivered to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they count on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles company face when they're paying to workers or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be consisted of best and what does
it require 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 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 anywhere you look ideal ultimately developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort 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 essential and technology is allowing us to type of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and financing teams work closer together than ever um I'm constantly astonished when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession 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 typically split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals 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 contribute to type of the level of intricacy there's increasingly more benefits being organ or being offered by companies throughout the world so once again you're simply aiming to include a growing number of payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine challenges or genuine tough sort of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding info into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to create additional handoffs in the processes that we operate 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 we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single greatest liability that any service has from an expense point of view from an impact perspective on staff members it is definitely crucial 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 have to be done right it has the biggest harmful impact on people's wellness and numerous other elements if individuals aren't paid uh I've constantly been impressed entering into this Market kind of the last five to ten years is how little thanks the
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just notice when things fail. Nevertheless, when things go right, it's seen as just a routine job. This is how it's viewed externally also. Therefore, it is important to guarantee that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the first Global Payments first payroll payment option is a fantastic initial step towards offering an extensive payroll option for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account needed for global payroll are key factors in accomplishing service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyway we know 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 easy as possible for everybody that's associated with those processes and likewise so envision sorry I'm just I was just gon na state envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions imagine getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and in fact see what was going on and kind of shot to return to everybody so carrying on look why do companies select to main different checking account there are organizations out there doing precisely this for specific countries and I've worked in a company or lots of businesses doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not producing additional work for any person where we don't have to and any person that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many factors one is it's the standard I think individuals have got so used to we need a brand-new bank account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I believe this is a process that requires looking at it needs altering but eventually people are extremely stuck to what they recognize
with best um change is a difficult thing we all don't like modification um so I believe it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having maintaining several checking account but there's a huge quantity of intricacy chooses establishing a checking account keeping it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for private people so the intricacy is big however I believe the honest response is change um individuals have not had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter but 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 know what could nearly be identified to be the next Century or two there is a lot to keep an eye on and this approach does present several challenges um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I just recently made a change 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 actually gotten another CFO, and with this improved ability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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