Find out more about Papaya Global Oracle Hcm ... 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 obtained a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and trustworthy method of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app enhances my payroll process, saving me a significant quantity of time monthly. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Employee Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive benefits bundles to international employees regardless of the number of employees in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source regional advantages providers in every country, produce local accounts and have a minimum number of employees.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total work expenses dispersed per area, overall work expenses per cycle and far more.
Globally, I have actually shown leadership and strategic competence in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for overseeing payroll techniques, as discussed by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for the majority of influential companies on the planet we supply payroll payments and workforce management to all employee enters over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon great night depending on where you are in the world it's charming 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 remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the trouble in all of the above of
payroll payments and chose 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 supplier side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everyone originates 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 raining here it's very extremely uninspiring and I wish I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies keep different
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is particularly helpful for worldwide companies with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of preserving different checking account for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex obstacle for businesses operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to optimize working capital, and find how simplifying global payroll payments can change them from a challenging job into a strategic possession.
Handling payroll worldwide is a difficult task due to numerous regulations, compliance requirements, data security concerns, and banking rules. The large variety of staff members and companies contributes to the complexity, with an approximated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems typically result in manual procedures, data silos, and a lack of combination, causing inconsistencies and inefficiencies. In spite of living in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to provide insights and services to streamline 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 information in real time that's another number that gives me sleep deprived nights and rather honestly the more a company invests in international payroll the less of an image they see a lack of exposure likewise extends to payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international services have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors poorly interacted hires and terminations along with absence management and system setups and then when you round everything off and the data is shipped to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they rely on the necessary several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're making payments to employees or otherwise that's a great question I always throw this back and state what is it what doesn't require to be consisted of ideal and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 intricacy anywhere you look best ultimately building a knowledge base is definitely vital however all over you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to kind of move on with that it also as well to add to that payroll and finance need to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is absolutely essential that payroll and financing groups work closer together than ever um I'm always surprised when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market 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 data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high worth on wellness and the payment landscape is becoming significantly elaborate. Companies are continuously introducing brand-new benefits and payment alternatives, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can cause inadequacies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technologically advanced age, there's no justification for preserving cumbersome treatments. Payroll, the business's biggest cost, need to be processed properly and on time. Even slight hold-ups can negatively impact staff members' well-being and have significant effects. For that reason, it's vital to focus on precise and timely payments.
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just see when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally also. For that reason, it is essential to ensure that tasks like Wi-Fi International and other vital matters are done properly. Utilizing the first Global Payments very first payroll payment option is a great preliminary step towards offering a comprehensive payroll option for staff members worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and checking account needed for global payroll are crucial factors in attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things don't go as prepared. Eventually, we do not do it for the thankfulness.
anyhow we know 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 also so think of sorry I'm just I was simply gon na state picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job attempting to clean up 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 try to look through them and in fact see what was going on and type of try to get back to everyone so carrying on appearance why do companies select to primary different checking account there are businesses out there doing precisely this for particular nations and I have actually worked in a company or many businesses doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating additional work for anyone where we do not need to and anyone that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think 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 believe individuals have actually got so used to we require a new checking account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I believe this is a procedure that requires looking at it requires altering however ultimately individuals are very stuck to what they recognize
with best um change is a tough thing we all do not like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having maintaining multiple savings account however there's a big amount of intricacy goes with establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for individual people so the intricacy is substantial but I think the sincere answer is modification um people haven't had the ability to change or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century approximately there is a lot to keep track of and this technique does present several challenges um so Johnny could you tell us about those challenges 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 jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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