Find out more about Papaya Global Problems Today ... 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 acquired a different Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and dependable approach of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app enhances my payroll process, saving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Employee Portal offers workers with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits bundles to global staff members no matter the variety of staff members in the business. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages companies in every country, create local accounts and have a minimum variety of employees.
The HR abilities supplied by Global HR encompass numerous functions such as keeping an eye on vacation time, making sure compliance, facilitating the process of welcoming new workers and bidding farewell to leaving ones, offering a safe online platform for keeping workers' files, and providing support for work permit treatments in case your workers require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, overall work expenses distributed per area, overall work costs per cycle and far more.
Internationally, I have demonstrated management and strategic proficiency in guiding large-scale populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role includes handling and developing external partnerships, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for the majority of influential business worldwide we supply payroll payments and workforce management to all employee types in over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good night depending on where you remain in the world it's charming to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I've type of had a range of various roles on the service provider side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or two to join we all 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 type of like see where everybody comes from and I really 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 raining here it's really extremely bleak and I want I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly helpful for international companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex obstacle for businesses operating globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how business anticipate payroll expenses to enhance working capital, and discover how improving international payroll payments can transform them from a burdensome job into a tactical asset.
Managing payroll globally is an overwhelming task due to various guidelines, compliance requirements, information security concerns, and banking rules. The large number of staff members and businesses contributes to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems often lead to manual processes, information silos, and an absence of integration, leading to inconsistencies and ineffectiveness. Regardless of living in a period of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to provide insights and options to simplify and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization spends on worldwide payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide organizations have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round everything off and the information is delivered to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they count on the required several 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 workers or otherwise that's a great question I constantly throw this back and state what is it what does not need to be consisted of ideal and what does
it need to be thought about 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 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 customer's own in-country account so there's intricacy wherever you look best eventually building a knowledge base is definitely crucial however everywhere you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is allowing us to kind of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely vital that payroll and financing teams work better together than ever um I'm constantly surprised when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide 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 likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more crucial to add to type of the level of complexity there's a growing number of advantages being organ or being used by companies throughout the world so once again you're just wanting to include a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of real challenges or real tough kind of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually managing the payment side of things but you understand 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 require to produce additional handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and an era that you understand that we are operating in today there is no reason we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single most significant liability that any service has from a cost perspective from an impact point of view on employees it is definitely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful impact on individuals's well-being and numerous other elements if individuals aren't paid uh I've constantly been astonished entering this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment option is a great initial step um supplying an end-to-end payroll service for your workers internationally once again I think is another huge um process again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of services and decreasing the number of tools platforms and bank accounts they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we understand how how important 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 associated with those procedures and also so think of sorry I'm just I was simply gon na say think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions picture getting that numerous 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 definitely be an interesting task trying to clean all those up for sure oh definitely I can't imagine 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 in fact see what was going on and type of shot to get back to everyone so carrying on look why do business pick to main separate savings account there are companies out there doing precisely this for particular nations and I have actually worked in an organization or many services doing precisely that I can say it doesn't constantly feel effective and it does develop more work I know we're not purposely doing that we're not developing extra work for any person where we don't have to and anybody 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 numerous factors one is it's the standard I think individuals have actually got so utilized to we require a brand-new checking account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually adopted and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I think this is a procedure that requires taking a look at it needs altering however ultimately individuals are extremely stuck to what they're familiar
with ideal um modification is a challenging thing all of us do not like modification um so I believe it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the advantages of having keeping multiple checking account but there's a substantial amount of intricacy chooses setting up a bank account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for private people so the intricacy is huge however I believe the truthful answer is modification um people haven't had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to change but we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what might nearly be determined to be the next Century or so there is a lot to keep track of and this method does position a number of challenges um so Johnny might you inform us about those difficulties yeah of course 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 jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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