Find out more about Papaya Global P45 ... 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 gotten a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and reputable technique of paying to our 10,000 employees worldwide.}
The innovative global payroll management app simplifies my payroll process, saving me a substantial quantity of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Worker Portal supplies workers with the ability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global assists business use competitive benefits packages to worldwide employees no matter the number of staff members in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every country, develop regional accounts and have a minimum variety of employees.
The HR abilities offered by Global HR incorporate numerous functions such as monitoring vacation time, making sure compliance, helping with the process of inviting new staff members and bidding farewell to leaving ones, offering a safe and secure online platform for keeping workers' documents, and offering assistance for work permit treatments in case your employees need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work expenses dispersed per place, overall work expenses per cycle and much more.
environments around the world I offered management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across business managing and structure external relationships supporting Business clients and services as well as functioning as an advisor for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for most influential companies on the planet we offer payroll payments and workforce management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent night depending upon where you are in the world it's charming to fulfill 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 market for over ten years and specifically working on the payroll and payment sector for over seven years um I was interested by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of different roles on the supplier side and also on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely really bleak and I wish I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of keeping separate savings account for payroll in different countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over 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 timely payroll payments is a complex challenge for companies operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to enhance working capital, and discover how enhancing worldwide payroll payments can change them from a challenging job into a tactical property.
Managing payroll globally is an overwhelming job due to various guidelines, compliance requirements, data security issues, and banking guidelines. The sheer number of employees and companies contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual processes, information silos, and a lack of integration, causing inconsistencies and inefficiencies. Regardless of residing in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to provide insights and services to simplify and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more a business spends on international payroll the less of a picture they see a lack of presence likewise reaches payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide businesses have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors improperly communicated hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is shipped to the wrong place the typical expense of an international information 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 don't run efficiently if they rely on the required multiple 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 challenges business face when they're making payments to staff members or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be included right and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities 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 intricacy any place you look ideal eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they resemble incredibly payments no if but some infants 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 definitely fundamental and innovation is allowing us to sort of move on with that it also also to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is definitely essential that payroll and finance groups work closer together than ever um I'm constantly amazed when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work 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 wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on well-being and the compensation landscape is becoming significantly complex. Companies are continually introducing new benefits and payment alternatives, which contributes to the general complexity. Big corporations frequently divide their payroll and payment processing into different teams, which can cause inadequacies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's highly advanced age, there's no reason for keeping cumbersome treatments. Payroll, the business's biggest expenditure, need to be processed properly and on time. Even slight delays can adversely affect employees' well-being and have far-reaching effects. For that reason, it's critical to prioritize accurate and prompt payments.
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only notice when things go wrong. However, when things go right, it's seen as just a regular task. This is how it's perceived externally as well. Therefore, it is essential to make sure that tasks like Wi-Fi Worldwide and other important matters are done properly. Using the first Global Payments first payroll payment solution is an excellent initial step towards supplying a detailed payroll solution for staff members worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and checking account required for worldwide payroll are key consider attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyhow we know how how essential a function 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 everybody that's associated with those processes and also so think of sorry I'm just I was simply gon na say imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and sort of try to return to everybody so carrying on appearance why do business pick to primary different checking account there are companies out there doing exactly this for particular nations and I've worked in an organization or numerous organizations doing exactly that I can state it doesn't always feel efficient and it does develop more work I know we're not purposely doing that we're not developing extra work for anyone where we don't need to and anyone 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 believe many reasons one is it's the requirement I think individuals have got so utilized to we require a brand-new checking account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to contribute 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 variety I think this is a procedure that needs taking a look at it requires altering however eventually people are very stuck to what they recognize
with best um change is a difficult thing we all do not like modification um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having maintaining numerous checking account however there's a huge quantity of complexity chooses 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 complexity is substantial however I believe the sincere answer is modification um individuals have not had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter however 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 know what might practically be figured out to be the next Century or two there is a lot to keep an eye on and this method does position a number of challenges um so Johnny could you tell us about those challenges yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your achievements.
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