Find out more about Papaya Global Calendar 2021/22 ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a protected and trustworthy technique of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Employee Website
Employees have access to a Staff member Website where they can see their pay slips, wage and tax statements and work documents. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to worldwide workers no matter the variety of employees in the company. The company can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, produce local accounts and have a minimum number of employees.
The HR abilities supplied by Global HR encompass different functions such as monitoring getaway time, making sure compliance, assisting in the procedure of inviting new employees and bidding farewell to leaving ones, using a safe and secure online platform for saving workers' documents, and providing support for work allow procedures in case your workers need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work expenses distributed per location, overall employment expenses per cycle and much more.
Globally, I have shown management and strategic know-how in directing large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for managing payroll strategies, as mentioned by Mark. My function includes handling and developing external collaborations, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for many influential business worldwide we provide payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon great night depending on where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've 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 interested by the complexity the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of different roles on the service provider side and also on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer 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 fascinating and I can see it going on already simply 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 remains 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 uninspiring and I want I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why business keep different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is particularly useful for global organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of maintaining separate savings account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex obstacle for organizations running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, find out how business anticipate payroll expenses to optimize working capital, and find how streamlining global payroll payments can change them from a burdensome task into a tactical possession.
Handling payroll internationally is a challenging job due to various policies, compliance requirements, data security concerns, and banking rules. The large variety of employees and companies adds to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and a lack of integration, causing inconsistencies and inadequacies. In spite of residing in an era of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to supply insights and services to simplify and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that offers me sleep deprived nights and quite frankly the more a business spends on international payroll the less of a photo they see a lack of exposure also extends to payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal nearly half of global organizations have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes improperly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the data is delivered to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they count on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles company face when they're paying to staff members or otherwise that's a great concern I constantly toss this back and say what is it what doesn't need to be consisted of best and what does
it need to be considered there's differing 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 have to pay from the consumer's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is absolutely vital but all over you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type 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 fundamental and technology is enabling us to sort of progress with that it likewise too to add to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is definitely important that payroll and financing teams work closer together than ever um I'm always impressed when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession 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 frequently 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 however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more important to add to type of the level of complexity there's increasingly more advantages being organ or being provided by businesses across the world so once again you're just aiming to include increasingly more payments to this already intricate 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 genuine difficulties or real tough type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would certainly state that the larger a company 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 details into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to produce extra handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and an era that you know that we are operating in today there is no reason we are still making this as challenging as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any business has from a cost point of view from an impact point of view on employees it is definitely important 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 have to be done right it has the greatest destructive impact on individuals's wellness and many other aspects if people aren't paid uh I've constantly been amazed entering this Market sort 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 throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just see when things fail. However, when things go right, it's viewed as just a routine job. This is how it's perceived externally also. Therefore, it is necessary to ensure that jobs like Wi-Fi International and other important matters are done properly. Using the first Global Payments first payroll payment solution is an excellent initial action towards supplying an extensive payroll service for staff members worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and checking account required for global payroll are crucial factors in attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things do not go as planned. Ultimately, we don't do it for the gratitude.
anyway we know how how crucial 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 also so picture sorry I'm just I was simply gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions imagine getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating job 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 require days of the week to try to browse them and really see what was going on and sort of try to return to everybody so proceeding look why do business select to main separate bank accounts there are organizations out there doing exactly this for specific countries and I have actually worked in a service or numerous companies doing exactly that I can state it doesn't always feel effective and it does develop more work I know we're not purposely doing that we're not creating additional work for any person where we do not have to and any person 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 think lots of factors one is it's the requirement I think individuals have actually got so utilized to we require a new checking account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I believe this is a process that needs taking a look at it requires changing but eventually individuals are very stuck to what they're familiar
with best um change is a hard thing we all do not like modification um so I think it's simply type of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the benefits of having preserving numerous checking account however there's a huge amount of intricacy chooses setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is substantial but I think the sincere answer is change um individuals haven't been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could almost be identified to be the next Century or two there is a lot to monitor and this technique does pose a number of difficulties um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I simply did you switched our Business 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 should have a corner office 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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