Find out more about Papaya Global Ukg ... 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 gotten a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and trustworthy method of paying to our 10,000 employees worldwide.}
The cutting-edge international payroll management app enhances my payroll procedure, conserving me a substantial quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Employee Website supplies employees with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to global employees despite the number of staff members in the company. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source regional advantages service providers in every nation, develop regional accounts and have a minimum number of workers.
The HR abilities supplied by Global HR include numerous functions such as keeping track of holiday time, guaranteeing compliance, helping with the process of inviting brand-new employees and bidding goodbye to departing ones, using a safe online platform for keeping employees' documents, and supplying support for work permit procedures in case your staff members require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall employment costs distributed per place, total work expenses per cycle and far more.
environments around the world I offered management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work across business handling and structure external relationships supporting Business clients and services along with acting as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have focused on payroll and payment options for the past seven years. The complexities and challenges of this field have constantly mesmerized me.
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 range of various roles on the service provider side and likewise on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody 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 remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really extremely uninspiring and I want I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical asset uh we'll also go over a wrap-up which ought to leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more typical and handling them ends up being more and more complicated Global organizations are seeking to find Solutions and brand-new methods to improve procedures especially from a payroll and cross-border payment perspective lots of organizations keep different checking account just for payroll while some have numerous accounts in different nations does it make good sense for companies to preserve separate savings account often in different nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational companies streamline the episode complex procedures of
making payroll payments precisely efficiently safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely forecast their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of reasons most notably guidelines compliance information security and banking guidelines then there are the sheer numbers they include more intricacy the worldwide Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the globe in the conventional payroll model there's typically a frustrating variety of various systems resulting in lengthy manual processes and silos the number of Integrations could be non-existent in large amounts and or extremely really standard there's no real consistency structure we're residing in an age 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 each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more an organization invests in worldwide payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of global organizations 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 bad HCM information information entry errors improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is shipped to the incorrect location the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they depend on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they're paying to employees or otherwise that's a good concern I always throw this back and state what is it what doesn't need to be consisted of right and what does
it need to be considered there's differing 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 have to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity any place you look best ultimately developing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind 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 sort of move forward with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and finance groups work better 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 anyone what is payroll who does not operate in the payroll occupation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on wellness and the settlement landscape is ending up being increasingly complex. Services are constantly presenting brand-new advantages and payment alternatives, which adds to the general complexity. Large corporations typically divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my opinion, this does not have to hold true. In today's highly innovative age, there's no reason for preserving troublesome treatments. Payroll, the company's most significant expenditure, must be processed correctly and on time. Even small delays can negatively affect employees' well-being and have significant consequences. Therefore, it's critical to focus on precise and prompt payments.
payroll group get um so I'm not exactly sure anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle all of us hear about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment solution is a fantastic primary step um supplying an end-to-end payroll solution for your workers internationally once again I think is another huge um procedure once again aligning and ensuring you have standardization Global procedures all of those things are definitely key to success success of businesses and minimizing the number of tools platforms and checking account they require for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how essential 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 also so imagine sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting task trying to clean up all those up for sure oh absolutely 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 really see what was going on and sort of try to get back to everyone so moving on look why do companies pick to primary different bank accounts there are organizations out there doing precisely this for specific countries and I've worked in a company or many businesses doing precisely that I can state it does not constantly feel effective and it does develop more work I know we're not purposely doing that we're not producing additional work for anybody where we do not need to and any person that's dealing with 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 people have got so utilized to we need a brand-new bank account we open an entity and rightly so you require 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 the people have embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a process that needs looking at it needs changing however eventually individuals are extremely stuck to what they're familiar
with best um modification is a difficult thing we all don't like modification um so I believe it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having keeping multiple savings account however there's a substantial quantity of intricacy goes with establishing a checking account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for individual individuals so the complexity is substantial but I believe the sincere response is modification um people have not been able to alter or haven't had always the understanding to actually make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century or so there is a lot to track and this method does posture a number of challenges um so Johnny might you inform us about those difficulties yeah obviously so there's a variety right there is so
I recently made a modification 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 effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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