Find out more about Papaya Global Training Manual Pdf ... 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 actually acquired a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and secure and reputable method of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app simplifies my payroll procedure, saving me a significant quantity of time each month. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Employee Portal supplies employees with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global helps companies offer competitive advantages plans to worldwide employees regardless of the number of workers in the business. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source local advantages suppliers in every country, develop regional accounts and have a minimum number of staff members.
The HR abilities provided by Worldwide HR incorporate numerous functions such as keeping track of vacation time, making sure compliance, facilitating the procedure of welcoming new workers and bidding goodbye to leaving ones, using a safe and secure online platform for keeping employees' files, and providing support for work permit procedures in case your staff members need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment expenses distributed per area, overall work expenses per cycle and far more.
environments around the world I provided management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and structure external relationships supporting Business customers and options in addition to serving as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I've sort of had a variety of various functions on the service provider side and likewise on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I really do hope it's much sunnier than it is 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 really really uninspiring and I want I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business maintain separate
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is especially beneficial for international organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in enough in one nation but when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of factors most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include more complexity the international Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the conventional payroll design there's frequently an overwhelming number of various systems causing lengthy manual processes and silos the number of Combinations could be non-existent in large amounts and or extremely really basic there's no real consistency framework we're residing in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more an organization invests in global payroll the less of an image they see an absence of exposure also extends to payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide companies have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes improperly communicated hires and terminations as well as lack management and system setups and after that when you round it all off and the information is delivered to the incorrect place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they count on the needed several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're paying to staff members or otherwise that's an excellent question I always toss this back and state what is it what doesn't need to be consisted of best and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 any place you look best ultimately constructing a knowledge base is definitely important however all over you look with payroll payment they are like extremely payments no if however some children about it you are all superheroes processing payments for payroll if you take a 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 absolutely fundamental and technology is enabling us to type 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 Particulars differing banking requirements and setup procedures is absolutely essential that payroll and financing teams work more detailed together than ever um I'm constantly impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more important to contribute to sort of the level of complexity there's increasingly more benefits being organ or being offered by companies throughout the world so again you're just seeking to add increasingly more payments to this already complicated 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 genuine obstacles or genuine difficult sort of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of years I would definitely state that the bigger a business 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 really managing the payment side of things however you understand in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we operate in they just make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and an era that you know that we are operating in today there is no reason why we are still making this as tough as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any service has from a cost viewpoint from an effect viewpoint on workers it is definitely crucial that it's done properly and on time so what we mean 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 destructive impact on people's well-being and many other factors if individuals aren't paid uh I have actually always been astonished coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only see when things go wrong. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. Therefore, it is vital to make sure that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment solution is a great preliminary step towards providing a detailed payroll solution for workers worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and bank accounts needed for worldwide payroll are key factors in achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things don't go as prepared. Ultimately, we do not do it for the gratitude.
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 simple as possible for everybody that's involved in those procedures and likewise so picture sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating job trying to clean 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 proceeding look why do business select to main separate savings account there are organizations out there doing precisely this for specific countries and I've worked in an organization or many organizations doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not developing extra work for any person where we don't have to and any person that's dealing with that process 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 factors one is it's the standard I believe people have actually got so used to we require a brand-new checking 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 just been the requirement and the norm individuals have adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I believe this is a procedure that requires taking a look at it requires changing but ultimately people are very stuck to what they recognize
with right um modification is a hard thing all of us do not like modification um so I believe it's just type 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 understand undoubtedly the benefits of having preserving numerous checking account however there's a substantial amount of complexity goes with setting up a bank account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for specific people so the complexity is huge but I think the truthful answer is change um people have not been able to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what might almost be determined to be the next Century approximately there is a lot to keep track of and this technique does present a number of obstacles um so Johnny could you tell us about those obstacles yeah naturally 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 handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
Nominal Link Settings Papaya Global