Find out more about Papaya Global Apprentice Without P45 ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly committed to handling payments. This supplies us with a protected and reputable approach of making payments to our 10,000 staff members worldwide.}
The advanced global payroll management app simplifies my payroll process, saving me a considerable amount of time each month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Staff member Portal provides employees with the ability to access and view essential files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to worldwide workers no matter the variety of workers in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source local benefits suppliers in every country, produce regional accounts and have a minimum variety of workers.
The HR capabilities provided by International HR include numerous functions such as monitoring vacation time, guaranteeing compliance, facilitating the process of inviting brand-new employees and bidding goodbye to leaving ones, offering a safe online platform for storing employees' files, and providing support for work permit treatments in case your employees need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total work costs dispersed per area, total work expenses per cycle and far more.
environments across the globe I offered leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise clients and services along with serving as a consultant for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We specialize in supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of various functions on the service provider side and also on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply provide everybody another number of uh well among 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 intriguing 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 originates from and I truly do hope it's much sunnier than it remains 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 very really bleak and I wish I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business maintain separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is especially beneficial for global companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of keeping separate savings account for payroll in different countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it becomes complex for a variety of factors most significantly policies compliance information security and banking rules then there are the large numbers they include more intricacy the international Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the globe in the standard payroll design there's often an overwhelming number of different systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in large amounts and or extremely extremely standard there's no genuine consistency framework we're living in a period of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind every time I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that offers me sleepless nights and quite honestly the more an organization invests in global payroll the less of an image they see an absence of visibility likewise reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of international companies have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry mistakes badly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the data is delivered to the incorrect location the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they rely on the needed 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 obstacles organization face when they're making payments to workers or otherwise that's an excellent question I constantly throw this back and state what is it what does not require 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 country there's payment amount of time there's payment capabilities 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 client's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is definitely important however all over you look with payroll payment they resemble very 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 believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is enabling us to kind of move on with that it likewise too to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely essential that payroll and financing groups work closer together than ever um I'm always amazed when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the payment landscape is becoming progressively intricate. Companies are continually introducing brand-new benefits and payment options, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into different teams, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't have to hold true. In today's highly sophisticated era, there's no validation for preserving troublesome procedures. Payroll, the business's biggest expense, need to be processed properly and on time. Even small hold-ups can negatively affect employees' wellness and have far-reaching repercussions. For that reason, it's crucial to focus on precise and prompt payments.
payroll team get um so I'm not sure anybody on this type of webinar has 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 staff members or not um but eventually payroll is such an essential cycle we all hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the first Global Payments first payroll payment service is a fantastic initial step um supplying an end-to-end payroll service for your workers globally again I think is another huge um process again lining up and ensuring you have standardization International procedures all of those things are definitely crucial to success success of companies and minimizing 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've never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know how how crucial 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 easy as possible for everyone that's involved in those procedures and also so picture sorry I'm simply I was just gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions picture getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job trying to clean 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 require days of the week to attempt to check out them and in fact see what was going on and kind of shot to return to everyone so moving on appearance why do companies choose to main separate savings account there are organizations out there doing precisely this for specific nations and I have actually worked in a business or many organizations doing precisely that I can say it doesn't constantly feel efficient and it does create more work I know we're not purposely doing that we're not creating additional work for anybody where we do not have to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the standard I believe people have got so utilized to we need a brand-new bank account we open an entity and rightly so you need 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 norm the people have 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 lots of other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs looking at it needs changing but ultimately people are very stuck to what they recognize
with best um change is a challenging thing all of us do not like change um so I think it's just kind of moving far from the norm as we've 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 huge quantity of intricacy chooses establishing a checking account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is huge however I think the truthful response is change um individuals haven't had the ability to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century or so there is a lot to track and this approach does posture several difficulties um so Johnny could you tell us about those obstacles yeah obviously so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this improved capability, I have effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering global 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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