Find out more about Papaya Global Sap Success Factors ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and secure and reputable method of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app enhances my payroll procedure, conserving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Staff member Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work documents. The website is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive benefits packages to global staff members despite the variety of staff members in the company. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, create local accounts and have a minimum number of workers.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total work costs dispersed per place, overall work expenses per cycle and a lot more.
environments across the globe I supplied management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business managing and structure external relationships supporting Business clients and options as well as functioning as a consultant for those of you that don't know who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for most influential companies on the planet we supply payroll payments and workforce management to all worker types in over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent night depending on where you are in the world it's charming to fulfill 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 industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of various roles on the service provider side and likewise on the vendor side from a payroll perspective so really anticipating this conversation today um and yeah thank you quite for your time everybody okay 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 these days so we'll sort 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 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 sunlight is it it's not no it's it's raining here it's really extremely gloomy and I want I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why business maintain different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of keeping different checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in sufficient in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most importantly policies compliance information security and banking rules then there are the large numbers they add more complexity the global Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the standard payroll model there's typically an overwhelming variety of different systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in large quantities and or extremely extremely fundamental there's no genuine consistency structure we're residing in an era of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind whenever I I believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more a service invests in worldwide payroll the less of a picture they see an absence of exposure also reaches payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of international organizations have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes poorly interacted hires and terminations along with absence management and system setups and after that when you round all of it off and the information is delivered to the wrong location the typical 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 all over the world payroll and payments don't run smoothly if they depend on the required multiple processes 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 challenges business face when they're paying to workers or otherwise that's an excellent concern I constantly throw this back and say what is it what does not need to be included best and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation 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 need to pay from the client's own in-country account so there's intricacy wherever you look ideal ultimately building a knowledge base is definitely vital however all over you look with payroll payment they are like very 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 believe there's now a bit more acknowledgment that payroll payments are definitely basic and technology is enabling us to type of move forward with that it also also to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is definitely crucial that payroll and finance teams work more detailed 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 doesn't operate in the payroll occupation would they split the payroll payment from estimation 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 wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on well-being and the settlement landscape is ending up being increasingly intricate. Organizations are continuously introducing brand-new advantages and payment choices, which contributes to the general intricacy. Large corporations often divide their payroll and payment processing into different groups, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's highly advanced period, there's no justification for keeping cumbersome procedures. Payroll, the company's most significant expense, must be processed properly and on time. Even slight hold-ups can adversely impact staff members' well-being and have significant repercussions. For that reason, it's vital to prioritize precise and timely payments.
The payroll group might not have actually 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 essential cycle, and individuals just observe when things fail. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally too. For that reason, it is necessary to ensure that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the first Global Payments first payroll payment option is a terrific preliminary step towards supplying a thorough payroll solution for workers worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and checking account necessary for worldwide payroll are crucial factors in attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things don't go as prepared. Eventually, we don't do it for the appreciation.
anyway we know how how crucial 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 simple as possible for everyone that's involved in those processes and likewise so imagine sorry I'm just I was just gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and in fact see what was going on and kind of shot to return to everyone so moving on look why do business pick to primary separate savings account there are businesses out there doing exactly this for particular countries and I have actually operated in a service or numerous companies doing exactly that I can state it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not developing extra work for anybody where we don't need to and anybody that's dealing with 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 reasons one is it's the standard I believe people have actually got so used to we require a new checking account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to sort of do it so I think there's a variety I think this is a process that requires taking a look at it requires altering but ultimately individuals are extremely stuck with what they recognize
with right um change is a challenging thing we all don't like change um so I think it's just sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having keeping multiple checking account but there's a huge quantity of intricacy chooses setting up a bank account maintaining it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual people so the intricacy is big however I believe the truthful response is modification um individuals haven't had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change but we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might almost be identified to be the next Century or two there is a lot to keep track of and this method does position numerous obstacles um so Johnny might you tell us about those challenges yeah of course 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 enhanced ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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