Find out more about Papaya Global Serbia ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and reputable approach of making payments to our 10,000 employees worldwide.}
The cutting-edge global payroll management app simplifies my payroll procedure, conserving me a significant quantity of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Staff member Website supplies staff members with the capability to access and view crucial files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies offer competitive benefits packages to worldwide employees regardless of the variety of workers in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional benefits suppliers in every nation, create local accounts and have a minimum number of staff members.
The HR capabilities provided by International HR encompass numerous functions such as keeping an eye on getaway time, ensuring compliance, facilitating the procedure of inviting brand-new staff members and bidding goodbye to leaving ones, providing a safe online platform for keeping employees' files, and supplying support for work allow treatments in case your employees need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall employment expenses distributed per location, overall employment costs per cycle and far more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business managing and building external relationships supporting Business clients and solutions in addition to acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential business 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 mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've type of had a variety of different roles on the supplier side and likewise on the vendor side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds or so to join we all work back to back these days 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 everybody is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very bleak and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies keep separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex obstacle for services running internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, find out how business anticipate payroll costs to enhance working capital, and find how simplifying worldwide payroll payments can change them from a challenging task into a tactical asset.
Managing payroll internationally is a difficult task due to numerous regulations, compliance requirements, information security concerns, and banking guidelines. The sheer number of employees and businesses adds to the complexity, with an estimated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems often result in manual procedures, data silos, and an absence of combination, leading to disparities and ineffectiveness. In spite of living in an age of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to supply insights and services to simplify and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more a business spends on worldwide payroll the less of an image they see an absence of exposure also encompasses payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the transaction nearly half of global services have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors improperly communicated hires and terminations as well as lack management and system setups and after that when you round all of it off and the data is delivered to the incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they rely on the essential numerous procedures 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 making payments to staff members or otherwise that's a good question I always throw this back and state what is it what doesn't require to be consisted of ideal 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 nation there's payment time frames there's payment abilities 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 client's own in-country account so there's intricacy wherever you look best eventually building a knowledge base is absolutely important but all over you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to type of progress with that it likewise too to add to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely crucial that payroll and financing groups work more detailed together than ever um I'm always amazed when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not 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 eventually 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
world we live in and well-being being a growing number of crucial to contribute to type of the level of complexity there's increasingly more benefits being organ or being provided by organizations throughout the world so once again you're just looking to add more and more payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real challenges or real tough type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding info into the next function as it were that's really handling the payment side of things but you know in in my viewpoint and my experience that doesn't always 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 prompt they make them less effective and they don't make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason that we are still making this as difficult as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any service has from an expense viewpoint from an impact point of view on employees it is definitely important that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive impact on people's well-being and numerous other factors if individuals aren't paid uh I've always been amazed coming into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anybody on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle all of us find out about it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment solution is an excellent primary step um providing an end-to-end payroll option for your workers worldwide once again I believe is another huge um process again lining up and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of services and reducing the number of tools platforms and savings account they need for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're meant to be um I do not believe any of us are actually doing that for for the thanks
anyway 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 processes and also so envision sorry I'm just I was simply gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job attempting to clean up 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 check out them and in fact see what was going on and sort of shot to get back to everyone so moving on appearance why do business pick to primary separate savings account there are businesses out there doing exactly this for specific countries and I've operated in a service or many organizations doing precisely that I can say it doesn't constantly feel effective and it does develop more work I understand we're not purposely doing that we're not producing additional work for any person where we do not have to and any person that's managing 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 reasons one is it's the requirement I believe individuals have got so utilized to we require a new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a range I think this is a procedure that requires taking a look at it requires altering but ultimately individuals are very stuck with what they recognize
with ideal um change is a difficult thing we all do not like change um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having maintaining numerous savings account however there's a huge quantity of intricacy chooses setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private people so the intricacy is substantial however I think the honest answer is change um individuals haven't had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could almost be identified to be the next Century approximately there is a lot to keep track of and this technique does present a number of obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I simply did you switched our Enterprise 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 deserve a corner office with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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