Find out more about Papaya Global Payslip Template ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a protected and reputable approach of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work files. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to global workers despite the variety of employees in the business. The company can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local advantages companies in every country, create regional accounts and have a minimum variety of workers.
The HR abilities provided by International HR encompass various functions such as keeping an eye on vacation time, guaranteeing compliance, facilitating the process of inviting brand-new staff members and bidding goodbye to departing ones, offering a protected online platform for storing employees' documents, and offering support for work allow treatments in case your staff members require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total work costs dispersed per location, overall employment costs per cycle and a lot more.
Globally, I have actually shown management and tactical knowledge in directing large-scale populations of over 100,000 workers across 170 nations. Presently, I am responsible for supervising payroll strategies, as discussed by Mark. My function includes managing and establishing external partnerships, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for the majority of influential business in the world we provide payroll payments and labor force management to all employee key ins over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon excellent night depending upon where you remain in the world it's beautiful 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've been in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated 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 six years where I have actually kind of had a range of various functions on the company side and also on the supplier side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I truly 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 drizzling here it's very extremely dreary and I want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business preserve separate
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is especially helpful for international organizations with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate savings account for payroll in various 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 becoming a tactical asset 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.
Guaranteeing precise, efficient, and timely payroll payments is a complex challenge for organizations running globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, learn how business forecast payroll expenses to enhance working capital, and discover how simplifying international payroll payments can change them from a troublesome task into a strategic property.
Handling payroll globally is a challenging task due to different guidelines, compliance requirements, information security issues, and banking guidelines. The sheer variety of employees and businesses adds to the complexity, with an estimated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual procedures, information silos, and an absence of combination, causing inconsistencies and inadequacies. Regardless of residing in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to offer insights and options to simplify and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization spends on global payroll the less of an image they see an absence of visibility likewise extends to payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of international services have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors inadequately communicated hires and terminations in addition to lack management and system setups and then when you round all of it off and the data is shipped to the wrong location the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they rely on the necessary several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges business face when they're making payments to employees or otherwise that's a great concern I always toss this back and state what is it what doesn't require to be included ideal and what does
it need to be considered there's varying 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 capabilities 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 wherever you look right ultimately developing a knowledge base is absolutely crucial however everywhere you look with payroll payment they are like very payments no if but 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 basic and technology is permitting us to sort of progress with that it also as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and finance groups 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 anybody what is payroll who doesn't work in the payroll occupation would they divide 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 any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the payment landscape is ending up being significantly elaborate. Organizations are constantly introducing new benefits and payment alternatives, which contributes to the overall complexity. Big corporations often divide their payroll and payment processing into separate teams, which can cause ineffectiveness and traffic jams. In my viewpoint, this does not have to hold true. In today's technologically innovative era, there's no justification for maintaining troublesome treatments. Payroll, the business's biggest cost, must be processed properly and on time. Even minor hold-ups can negatively affect employees' well-being and have significant repercussions. Therefore, it's important to prioritize precise and prompt payments.
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only see when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's viewed externally also. For that reason, it is essential to make sure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Using the very first Worldwide Payments very first payroll payment service is a terrific initial action towards supplying an extensive payroll service for employees worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and checking account necessary for international payroll are crucial factors in attaining service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things don't go as prepared. Ultimately, we do not do it for the gratitude.
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 just gon na state envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing 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 was the case um you 'd need days of the week to try to browse them and really see what was going on and type of shot to return to everybody so moving on look why do business select to main separate bank accounts there are organizations out there doing precisely this for specific nations and I have actually worked in a business or lots of companies doing precisely that I can say it doesn't constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not developing additional work for any person where we don't need to and any person that's handling 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 quantity that we are I believe numerous reasons one is it's the standard I believe people have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you need 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 standard and the norm individuals have embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and lots of other ways um to to sort of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires altering but ultimately individuals are really stuck with what they recognize
with right um modification is a tough thing we all don't like modification um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having preserving several savings account however there's a big amount of complexity opts for establishing a checking account maintaining it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private individuals so the intricacy is substantial however I think the truthful response is change um individuals haven't been able to change or haven't had necessarily the knowledge to actually 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 knowledge you understand and there is an aspect of resistance to change however we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might practically be determined to be the next Century approximately there is a lot to monitor and this approach does posture a number of difficulties um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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