Find out more about Print P60 Papaya Global ... We now have the capability to manage 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 particularly devoted to managing payments. This provides us with a secure and trustworthy method of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Staff member Portal offers employees with the ability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to worldwide employees regardless of the number of staff members in the business. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source local benefits suppliers in every nation, create local accounts and have a minimum number of employees.
The HR capabilities offered by Worldwide HR include numerous functions such as keeping track of getaway time, making sure compliance, facilitating the process of inviting new workers and bidding farewell to departing ones, offering a secure online platform for saving workers' files, and supplying assistance for work permit procedures in case your workers require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, total employment costs distributed per location, overall work costs per cycle and a lot more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark said I work across business handling and structure external relationships supporting Enterprise customers and services in addition to serving as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for many influential companies in the world we supply payroll payments and workforce management to all worker enters over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon excellent evening depending upon where you are in the world it's beautiful to meet 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 been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated 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 5 or 6 years where I've type of had a range of various roles on the provider side and also on the vendor side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates 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 drizzling here it's very very bleak and I wish I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business preserve separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially beneficial for global 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 nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure precise, effective, and timely payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to optimize working capital, and find how streamlining international payroll payments can transform them from a difficult task into a strategic possession.
Managing payroll globally is a difficult task due to different policies, compliance requirements, data security concerns, and banking rules. The sheer number of employees and services contributes to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems often lead to manual processes, data silos, and an absence of combination, leading to inconsistencies and inadequacies. Regardless of living in an age of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to supply insights and options to streamline 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 businesses say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite honestly the more a company invests in global payroll the less of a picture they see a lack of presence also encompasses payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of international companies have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors badly interacted hires and terminations as well as lack management and system setups and after that when you round all of it off and the data is delivered to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they count on the essential several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they're paying to workers or otherwise that's an excellent concern I always toss this back and say what is it what doesn't require to be included best and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look best ultimately constructing a knowledge base is definitely important but all over 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 look at the kind 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 fundamental and innovation is permitting us to sort of move forward with that it also too to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm always astonished when people 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 occupation would they divide the payroll payment from calculation 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 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 3rd parties so with the
world we reside in and wellness being a growing number of important to add to type of the level of complexity there's a growing number of advantages being organ or being offered by businesses throughout the world so again you're simply wanting to add increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine challenges or genuine challenging type of pay uses to play to pay people I think yeah I indicate over the last well yeah a number of years I would absolutely state that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding info into the next function as it were that's really handling the payment side of things but you know in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we run in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in a period of tech and a period that you understand that we are working in today there is no reason we are still making this as hard as it requires to be concurred and rightly as you said payroll is the single biggest liability that any business has from a cost viewpoint from an impact viewpoint on employees it is absolutely important that it's done properly and on time so what we indicate 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 damaging effect on people's well-being and many other factors if individuals aren't paid uh I have actually always been impressed entering this Market sort of the last five 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 great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just discover when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's perceived externally too. Therefore, it is essential to ensure that tasks like Wi-Fi Global and other important matters are done correctly. Using the very first Global Payments first payroll payment option is an excellent preliminary action towards providing a detailed payroll service for staff members worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and savings account essential for worldwide payroll are essential consider achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyway 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 everybody that's involved in those procedures and likewise so imagine sorry I'm just I was just gon na state picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and really see what was going on and sort of try to get back to everybody so moving on look why do companies pick to primary separate checking account there are businesses out there doing precisely this for particular nations and I've operated in a company or many companies doing precisely that I can say it doesn't always feel efficient and it does create more work I understand we're not deliberately doing that we're not producing extra work for anyone where we don't have to and anybody that's managing that process 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 think lots of reasons 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 rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that people have actually looked 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 needs changing but eventually people are very stuck to what they recognize
with ideal um modification is a difficult thing we all don't like change um so I believe it's simply type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having keeping numerous savings account but there's a substantial quantity of intricacy chooses establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for specific individuals so the complexity is huge however I believe the truthful response is change um people haven't had the ability to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to track and this method does present numerous challenges um so Johnny might you inform us about those obstacles yeah naturally 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 tasks on one platform. It feels like our CFO has gotten another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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