Find out more about Papaya Global Software Cost ... 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 gotten a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and secure and reputable approach of making payments to our 10,000 workers worldwide.}
The advanced worldwide payroll management app enhances my payroll process, conserving me a substantial quantity of time monthly. With its easy to use user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Staff member Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to global staff members regardless of the variety of employees in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the need to source local advantages suppliers in every country, create regional accounts and have a minimum variety of employees.
The HR abilities provided by International HR incorporate numerous functions such as keeping an eye on vacation time, ensuring compliance, facilitating the process of inviting new staff members and bidding farewell to departing ones, using a protected online platform for saving employees' files, and supplying assistance for work allow treatments in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total employment expenses dispersed per place, total employment costs per cycle and far more.
Globally, I have demonstrated management and strategic competence in assisting large-scale populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for managing payroll strategies, as discussed by Mark. My function includes handling and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've sort of had a range of various roles on the company side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really 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 extremely extremely dreary and I want I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about 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.
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for organizations operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll costs to enhance working capital, and discover how streamlining global payroll payments can transform them from a troublesome job into a strategic possession.
Handling payroll globally is a difficult job due to various regulations, compliance requirements, information security concerns, and banking rules. The large number of staff members and businesses adds to the complexity, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and a lack of combination, resulting in inconsistencies and ineffectiveness. Regardless of residing in an age of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to provide insights and options to simplify and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization invests in international payroll the less of an image they see a lack of exposure also extends to payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of global businesses have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes badly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the data is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they rely on the needed several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles service face when they're making payments to employees or otherwise that's a good question I always throw this back and state what is it what doesn't need to be included ideal and what does
it require to be considered there's differing 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is definitely important but 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 sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to sort of move forward with that it likewise too to add to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely important that payroll and financing groups work better together than ever um I'm constantly astonished when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more crucial to contribute to kind of the level of complexity there's a growing number of advantages being organ or being used by companies throughout the world so again you're simply seeking to include increasingly more payments to this already complicated landscape so if you sort of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine difficulties or genuine challenging kind of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would certainly state that the bigger a service 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 teams feeding details into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce additional handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an era 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 agreed and rightly as you stated payroll is the single most significant liability that any organization has from an expense perspective from an impact point of view on workers it is definitely critical that it's done correctly 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 biggest destructive effect on people's wellness and lots of other factors if people aren't paid uh I've constantly been impressed coming into this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all become aware of it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the first International Payments first payroll payment service is an excellent first step um offering an end-to-end payroll service for your employees globally once again I think is another substantial um procedure again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely key to success success of businesses and decreasing the variety of tools platforms and bank accounts they need for their International 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 have actually never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone quite where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyway 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 easy as possible for everyone that's involved in those processes and likewise so think of sorry I'm just I was simply gon na say think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and actually see what was going on and type of shot to get back to everyone so moving on appearance why do business select to main separate checking account there are businesses out there doing precisely this for particular nations and I've operated in a business or many services doing precisely that I can state it doesn't constantly feel effective and it does develop more work I know we're not intentionally doing that we're not developing extra work for anyone where we do not need to and anyone that's handling 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 believe individuals have got so used to we require a brand-new savings 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 think it's just been the standard and the standard individuals have adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I think this is a process that requires taking a look at it requires changing however eventually individuals are extremely stuck to what they're familiar
with best um change is a hard thing we all do not like modification um so I think it's just type of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having keeping several checking account but there's a big quantity of complexity opts for establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is big however I think the sincere response is change um people have not been able to alter or haven't had always the understanding to actually 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 knowledge you understand and there is an aspect of resistance to alter however we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be determined to be the next Century or so there is a lot to monitor and this technique does present a number of challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I recently made a change to our Business 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 ability, I have successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your achievements.
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