Find out more about Papaya Global And Hr ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to managing payments. This provides us with a protected and trustworthy method of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app improves my payroll procedure, conserving me a significant amount of time every month. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
The Employee Portal supplies employees with the capability to gain access to and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists business use competitive advantages plans to worldwide employees regardless of the number of workers in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits companies in every country, produce regional accounts and have a minimum variety of staff members.
The HR abilities supplied by Worldwide HR include different functions such as keeping an eye on getaway time, making sure compliance, facilitating the procedure of inviting new staff members and bidding farewell to departing ones, offering a secure online platform for keeping employees' documents, and offering assistance for work permit procedures in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses distributed per area, overall work expenses per cycle and much more.
Internationally, I have actually shown management and strategic proficiency in directing large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for managing payroll techniques, as mentioned by Mark. My role involves managing and establishing external partnerships, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for the majority of prominent companies on the planet we offer payroll payments and labor force management to all staff member types in over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon good evening depending upon where you remain in the world it's charming to meet 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 been in the payments industry for over ten years and specifically 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 type of make a real go at that over the last five or six years where I have actually kind of had a variety of different roles on the company side and also on the vendor side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind 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 type of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today certainly 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 want I was somewhere else 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 obstacle years of managing Global payroll why companies preserve separate
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is especially useful for worldwide organizations with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex challenge for businesses running globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, find out how companies anticipate payroll costs to enhance working capital, and find how simplifying international payroll payments can transform them from a troublesome task into a tactical property.
Handling payroll globally is a challenging job due to numerous regulations, compliance requirements, data security issues, and banking rules. The sheer variety of staff members and companies adds to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual processes, data silos, and an absence of integration, causing inconsistencies and inefficiencies. In spite of living in an age of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to supply insights and options to streamline and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state 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 international payroll the less of a picture they see an absence of visibility also encompasses payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the transaction almost half of worldwide services have revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors badly interacted hires and terminations in addition to lack management and system configurations and then when you round all of it off and the information is shipped to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the required numerous processes systems and partners it is simply 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 staff members or otherwise that's a good concern I constantly toss this back and state what is it what does not need to be included right and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 consumer's own in-country account so there's intricacy wherever you look right eventually constructing a knowledge base is definitely important however everywhere you look with payroll payment they resemble extremely 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 in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to type of move on with that it also too to add to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work closer together than ever um I'm constantly surprised when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone 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 procedure it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more important to add to sort of the level of intricacy there's more and more advantages being organ or being used by organizations throughout the world so once again you're simply wanting to include increasingly more payments to this already complex landscape so if you sort 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 genuine difficulties or real challenging kind of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would absolutely say that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to develop extra handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an era of tech and an age that you understand that we are working in today there is no reason we are still making this as difficult as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any service has from a cost perspective from an impact perspective on employees it is absolutely vital that it's done properly 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 biggest destructive effect on individuals's wellness and numerous other factors if people aren't paid uh I've always been amazed entering this Market sort of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only discover when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's perceived externally as well. For that reason, it is vital to ensure that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the first Global Payments first payroll payment option is a fantastic initial action towards supplying a comprehensive payroll solution for workers worldwide. Standardization, global procedures, and decreasing the number of tools, platforms, and checking account necessary for global payroll are essential factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things do not go as planned. Eventually, we do not do it for the gratitude.
anyhow we understand how how essential a role 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 easy as possible for everyone that's associated with those procedures and likewise so think of sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean all those up for sure oh absolutely I can't picture 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 really see what was going on and sort of try to get back to everybody so moving on look why do companies choose to main different savings account there are companies out there doing exactly this for particular countries and I have actually operated in a company or many services doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing additional work for anyone where we don't need to and any person that's managing 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 quantity that we are I believe numerous factors one is it's the requirement I think individuals have actually got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs altering however eventually individuals are extremely stuck to what they recognize
with ideal um change is a tough thing we all don't like change 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 obviously the benefits of having maintaining several checking account but there's a huge amount of complexity opts for setting up a bank account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for individual people so the intricacy is big but I believe the honest answer is change um individuals have not been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to change however we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might practically be identified to be the next Century approximately there is a lot to keep an eye on and this approach does position numerous challenges um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I just 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 Worldwide workers you deserve a corner office with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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