Find out more about Papaya Global Redundancy ... 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 gotten a separate Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and secure and trusted technique of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, conserving me a substantial amount of time every month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Worker Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive advantages packages to global employees no matter the variety of workers in the company. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local advantages providers in every nation, develop regional accounts and have a minimum variety of staff members.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total employment costs distributed per place, overall work costs per cycle and a lot more.
Globally, I have demonstrated leadership and strategic expertise in directing massive populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My function includes managing and establishing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for most prominent business worldwide we offer payroll payments and workforce management to all worker key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon good evening depending on where you remain in the world it's charming to satisfy 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 remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I've sort of had a range of different roles on the provider side and also on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everybody is um it's nice to to kind 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 sunlight is it it's not no it's it's drizzling here it's really really dreary and I wish I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business keep separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is particularly helpful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving different checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex challenge for services running worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies anticipate payroll expenses to enhance working capital, and find how enhancing international payroll payments can transform them from a troublesome task into a tactical property.
Handling payroll worldwide is a complicated task due to numerous policies, compliance requirements, information security issues, and banking rules. The large number of employees and services adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual procedures, data silos, and a lack of integration, resulting in disparities and ineffectiveness. Despite living in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to offer insights and options to simplify and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a business spends on worldwide payroll the less of an image they see a lack of presence also encompasses payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of global services 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 errors are due to time reporting bad HCM information information entry errors poorly interacted hires and terminations along with absence management and system setups and then when you round it all off and the data is delivered to the incorrect place the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they count on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a good concern I constantly throw this back and say what is it what does not need to be consisted of right and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy anywhere you look right ultimately developing a knowledge base is absolutely vital however all over you look with payroll payment they resemble 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 in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is allowing us to kind of move on with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely crucial that payroll and finance teams work more detailed together than ever um I'm always amazed when individuals state I've divided 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 a market accept that why our payroll and payments so often 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 any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more crucial to contribute to sort of the level of complexity there's a growing number of advantages being organ or being offered by organizations across the world so once again you're simply aiming to include more and more payments to this already complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine difficulties or genuine challenging type of pay uses to play to pay people I think yeah I mean over the last well yeah a couple of decades I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding details into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to develop additional handoffs at the same times that we operate in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any service has from an expense viewpoint from an effect viewpoint on staff members it is definitely critical that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging result on people's well-being and numerous other aspects if individuals aren't paid uh I've constantly been astonished entering this Market type of the last 5 to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just see when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally as well. Therefore, it is vital to guarantee that jobs like Wi-Fi Worldwide and other essential matters are done properly. Using the first Worldwide Payments first payroll payment service is a great initial step towards offering a comprehensive payroll option for workers worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and bank accounts necessary for worldwide payroll are crucial factors in achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things do not go as prepared. Ultimately, we don't do it for the gratitude.
anyway we understand how how important 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 simple as possible for everybody that's involved in those procedures and also so imagine sorry I'm just I was simply gon na state picture the quantity 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 imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and in fact see what was going on and type of try to return to everyone so carrying on look why do companies pick to primary different checking account there are companies out there doing precisely this for particular nations and I have actually worked in a business or many services doing precisely that I can say it does not constantly feel effective and it does create more work I know we're not purposely doing that we're not developing extra work for anybody where we do not have to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe many factors one is it's the standard I think people have got so used to we require a new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I believe this is a procedure that needs looking at it requires altering however eventually people are extremely stuck with what they recognize
with right um change is a tough thing all of us do not like change um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having preserving several checking account however there's a big amount of complexity goes with setting up a checking account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for individual people so the intricacy is huge but I believe the honest answer is modification um individuals haven't had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to alter but we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what might nearly be identified to be the next Century or two there is a lot to keep an eye on and this approach does pose a number of obstacles 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 Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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