Find out more about P32 Report Papaya Global ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and trustworthy approach of paying to our 10,000 employees worldwide.}
The advanced international payroll management app improves my payroll procedure, saving me a considerable amount of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Staff member Website provides employees with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global assists companies use competitive benefits packages to worldwide workers regardless of the variety of workers in the business. The company can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source regional advantages suppliers in every nation, create regional accounts and have a minimum variety of employees.
The HR abilities provided by International HR encompass numerous functions such as monitoring getaway time, making sure compliance, helping with the process of inviting brand-new staff members and bidding farewell to departing ones, providing a secure online platform for saving employees' documents, and supplying support for work allow procedures in case your employees need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, total employment expenses dispersed per area, total employment costs per cycle and much more.
Worldwide, I have demonstrated leadership and strategic knowledge in guiding massive populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for supervising payroll strategies, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for a lot of influential business worldwide we provide payroll payments and labor force management to all staff member enters over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon good evening depending on where you remain in the world it's lovely to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of various functions on the company side and also on the vendor side from a payroll perspective so really anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds approximately to join all of us 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 already just to hear where everybody is um it's nice to to sort of like see where everybody comes from and I actually 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 drizzling here it's extremely very dreary and I wish I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business maintain separate
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic possession for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and prompt payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to enhance working capital, and discover how simplifying international payroll payments can transform them from a burdensome job into a strategic property.
Handling payroll globally is a daunting task due to different policies, compliance requirements, information security issues, and banking guidelines. The large number of workers and services adds to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often lead to manual procedures, data silos, and a lack of integration, leading to disparities and inadequacies. In spite of living in an era of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar objectives to provide insights and options to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more a service spends on worldwide payroll the less of a picture they see a lack of presence likewise extends to payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide organizations have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors improperly communicated hires and terminations in addition to lack management and system configurations and then when you round it all off and the information is shipped to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they depend on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're making payments to employees or otherwise that's a great concern I always throw this back and say what is it what does not require to be consisted of best and what does
it need to be thought about 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 capabilities 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 customer's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble incredibly payments no if but some children 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 recognition that payroll payments are absolutely fundamental and innovation is allowing us to kind of progress with that it likewise as well to add to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely crucial that payroll and finance groups work closer together than ever um I'm always astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more crucial to contribute to kind of the level of intricacy there's more and more advantages being organ or being offered by companies throughout the world so again you're just wanting to include increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real difficulties or genuine tough sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding details into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to develop extra handoffs while doing sos that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason we are still making this as difficult as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any service has from a cost point of view from an effect point of view on workers it is definitely crucial 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 need to be done right it has the biggest harmful effect on people's well-being and many other elements if individuals aren't paid uh I have actually always been amazed entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only observe when things fail. However, when things go right, it's viewed as simply a routine task. This is how it's viewed externally also. Therefore, it is essential to ensure that jobs like Wi-Fi Worldwide and other crucial matters are done correctly. Using the first Global Payments first payroll payment option is a fantastic initial action towards providing a detailed payroll option for workers worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and checking account essential for worldwide payroll are key consider attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things do not go as prepared. Eventually, we do not do it for the gratitude.
anyhow we know how how essential a role 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 everybody that's involved in those processes and likewise so imagine sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of getting that lots of thank you notes um I suggest 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 definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and actually see what was going on and sort of shot to get back to everybody so carrying on look why do business select to primary different checking account there are businesses out there doing precisely this for specific countries and I have actually worked in a service or numerous organizations 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 have to and anybody that's dealing with 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 amount that we are I believe lots of factors one is it's the requirement I think individuals have got so utilized to we require a new checking account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have actually embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a range I think this is a process that requires taking a look at it requires altering but eventually individuals are really stuck to what they're familiar
with right um change is a hard thing we all do not like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having keeping multiple bank accounts however there's a big quantity of intricacy chooses setting up a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for private individuals so the complexity is substantial however I think the sincere answer is change um individuals haven't been able to change or have not had always the understanding to truly make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to keep an eye on and this technique does posture a number of challenges um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you deserve a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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