Find out more about Papaya Global Free ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and secure and trusted technique of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Staff member Portal provides staff members with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to global staff members despite the variety of staff members in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source regional benefits suppliers in every nation, develop regional accounts and have a minimum variety of workers.
The HR abilities provided by Worldwide HR incorporate different functions such as keeping track of vacation time, ensuring compliance, assisting in the procedure of inviting new employees and bidding farewell to leaving ones, providing a safe and secure online platform for saving employees' files, and supplying assistance for work allow procedures in case your workers require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, total work costs dispersed per location, overall work costs per cycle and a lot more.
Worldwide, I have actually demonstrated management and strategic expertise in directing large-scale populations of over 100,000 employees throughout 170 countries. Presently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My function includes managing and establishing external partnerships, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for the majority of prominent business worldwide we provide payroll payments and labor force management to all worker key ins over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon good evening depending on where you remain in the world it's beautiful to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've type of had a range of different functions on the service provider side and likewise on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds or two 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 everyone is um it's nice to to kind 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 raining here it's extremely very dreary and I wish I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies maintain separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of preserving different bank accounts for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex challenge for organizations operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, learn how companies anticipate payroll costs to enhance working capital, and find how streamlining international payroll payments can change them from a difficult task into a strategic possession.
Handling payroll globally is a daunting task due to different regulations, compliance requirements, information security concerns, and banking guidelines. The sheer number of employees and organizations contributes to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and an absence of integration, leading to disparities and ineffectiveness. Despite residing in an age of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to provide insights and solutions to simplify and optimize global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that provides me sleep deprived nights and rather frankly the more a company invests in international payroll the less of a picture they see an absence of visibility also reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of global businesses have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes badly communicated hires and terminations along with absence management and system configurations and then when you round everything 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 as soon as payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they count on the needed multiple processes 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 business face when they're making payments to employees or otherwise that's a great question I always throw this back and say what is it what doesn't require to be included ideal 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 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 need to pay from the customer's own in-country account so there's complexity anywhere you look right ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is allowing us to sort of move on with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is absolutely essential that payroll and financing groups work closer together than ever um I'm constantly amazed when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation 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 individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on wellness and the payment landscape is becoming increasingly elaborate. Businesses are constantly introducing brand-new benefits and payment options, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into different groups, which can lead to inefficiencies and traffic jams. In my viewpoint, this does not have to be the case. In today's technically advanced era, there's no validation for keeping cumbersome procedures. Payroll, the business's most significant cost, must be processed properly and on time. Even slight hold-ups can negatively impact employees' well-being and have significant consequences. Therefore, it's important to prioritize precise and timely payments.
payroll group get um so I'm not exactly sure anybody on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done properly so leveraging the first Worldwide Payments very first payroll payment option is a great initial step um offering an end-to-end payroll option for your workers internationally again I think is another big um process once again aligning and ensuring you have standardization International processes all of those things are definitely crucial to success success of organizations and reducing the number of tools platforms and bank accounts 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 countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone quite where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand 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 everyone that's involved in those processes and also so picture sorry I'm just I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task attempting to clean 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 require days of the week to attempt to check out them and really see what was going on and type of shot to return to everyone so moving on appearance why do companies pick to main different savings account there are organizations out there doing precisely this for specific countries and I have actually worked in a company or lots of services doing precisely that I can say it doesn't always feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating extra work for anyone where we do not need to and anybody that's dealing with 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 think numerous factors one is it's the standard I believe individuals have actually got so used to we require a brand-new bank account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I believe this is a procedure that requires looking at it needs altering however ultimately people are extremely stuck to what they recognize
with ideal um modification is a hard thing we all do not 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 things um I understand clearly the advantages of having maintaining several savings account however there's a big quantity of intricacy goes with establishing a bank account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the complexity is substantial but I think the truthful response is change um individuals have not had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is understanding you know and there is an element of resistance to change however we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to keep an eye on and this method does posture numerous obstacles um so Johnny could you tell us about those challenges yeah of course so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you should have a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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