Find out more about Papaya Global Payroll India ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and secure and reliable method of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and contractors
The Employee Portal offers workers with the ability to gain access to and view important files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global assists companies offer competitive benefits packages to worldwide staff members no matter the number of employees in the business. The company can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional advantages companies in every country, develop regional accounts and have a minimum variety of employees.
The HR capabilities offered by Worldwide HR include different functions such as keeping track of getaway time, making sure compliance, helping with the process of inviting new staff members and bidding farewell to departing ones, offering a secure online platform for saving workers' documents, and providing support for work allow treatments in case your workers require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, total work expenses distributed per location, overall work costs per cycle and much more.
Worldwide, I have demonstrated leadership and strategic competence in assisting large-scale populations of over 100,000 workers across 170 nations. Presently, I are accountable for supervising payroll strategies, as discussed by Mark. My role includes handling and developing external collaborations, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We focus on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I've type of had a variety of various functions on the service provider side and also on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it remains 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 extremely really uninspiring and I want I was somewhere else 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 managing Global payroll why business keep different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex difficulty for businesses running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how companies forecast payroll expenses to enhance working capital, and find how streamlining global payroll payments can transform them from a challenging task into a strategic property.
Handling payroll internationally is an overwhelming job due to different guidelines, compliance requirements, data security issues, and banking guidelines. The large number of employees and services contributes to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems often lead to manual procedures, data silos, and a lack of combination, leading to inconsistencies and inefficiencies. Regardless of living in a period of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to provide 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 only 11 of organizations state they have Labor force information in real time that's another number that offers me sleepless nights and quite honestly the more a business invests in global payroll the less of an image they see a lack of presence 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 worldwide services have expressed 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 due to time reporting poor HCM information information entry errors badly communicated hires and terminations along with lack management and system configurations and then when you round everything off and the data is shipped to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they count 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 needs to be factored into the obstacles business face when they're making payments to employees or otherwise that's an excellent question I always throw this back and state what is it what does not need to be consisted of best and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities 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 wherever you look right eventually developing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind 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 progress with that it also also to add to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely important that payroll and finance teams work more detailed together than ever um I'm constantly surprised when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market 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 data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more important to add to type of the level of complexity there's a growing number of benefits being organ or being offered by services across the world so again you're simply seeking to add increasingly more payments to this currently intricate landscape so if you type of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real challenges or genuine difficult type of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a number of years I would definitely say that the larger a service 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 teams feeding information into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we need to create additional handoffs in the processes that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an age of tech and a period that you know that we are operating in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any service has from an expense point of view from an effect viewpoint on staff members 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 have to be done right it has the most significant damaging impact on individuals's well-being and numerous other factors if individuals aren't paid uh I have actually always been impressed entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just notice when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally as well. Therefore, it is necessary to guarantee that tasks like Wi-Fi Global and other important matters are done properly. Using the first Global Payments first payroll payment service is an excellent preliminary action towards supplying a thorough payroll service for staff members worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and checking account required for international payroll are essential consider attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyhow we know how how crucial 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 simple as possible for everybody that's involved in those procedures and likewise so picture sorry I'm just I was just gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions imagine getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing job attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try 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 business select to primary different savings account there are companies out there doing exactly this for particular nations and I have actually operated in a company or lots of services doing exactly that I can say it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not creating additional work for anybody where we don't need to and anybody that's handling 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 think numerous factors one is it's the requirement I believe people have got so utilized to we require a brand-new savings account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals 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 numerous other methods um to to kind of do it so I think there's a range I think this is a procedure that needs looking at it requires changing but ultimately people are really stuck to what they're familiar
with best um modification is a tough thing we all do not like change um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having maintaining numerous bank accounts however there's a big quantity of complexity chooses setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is big but I think the truthful response is modification um people haven't been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to change but we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could practically be figured out to be the next Century approximately there is a lot to track and this approach does pose numerous difficulties um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you should have a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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