Find out more about Papaya Global Archive ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and secure and dependable method of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Staff member Portal offers employees with the capability to access and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global assists companies use competitive advantages packages to worldwide workers regardless of the variety of staff members in the company. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local benefits companies in every country, develop local 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 employees' files and immigration services if your workers need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, overall employment expenses distributed per area, total employment costs per cycle and much more.
environments around the world I provided leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and structure external relationships supporting Business customers and solutions in addition to acting as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for many prominent business in the world we provide payroll payments and workforce management to all staff member enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon great night depending on where you are in the world it's charming to meet 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 ten years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I've type of had a variety of different roles on the company side and also on the vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone 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 remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely extremely gloomy and I wish I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies preserve different
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different savings account for payroll in various countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, learn how business forecast payroll expenses to enhance working capital, and find how improving international payroll payments can transform them from a troublesome task into a tactical property.
Managing payroll internationally is a daunting job due to various regulations, compliance requirements, data security concerns, and banking guidelines. The large variety of staff members and organizations contributes to the complexity, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically result in manual processes, data silos, and a lack of combination, resulting in inconsistencies and inadequacies. Despite living in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to supply insights and solutions 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 only 11 of businesses say they have Labor force information in real time that's another number that offers me sleepless nights and rather frankly the more a service invests in international payroll the less of an image they see a lack of exposure likewise encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of global businesses 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 mistakes are due to time reporting bad HCM information information entry errors inadequately interacted hires and terminations as well as absence management and system setups and then when you round it all off and the data is delivered to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they depend on the necessary multiple procedures 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 challenges company face when they're making payments to employees or otherwise that's a great question I always throw this back and state what is it what doesn't require to be included right and what does
it require to be thought of 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is absolutely important however everywhere you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is enabling us to sort of move forward with that it also too to add to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely crucial that payroll and financing groups work better together than ever um I'm always impressed when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession 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 likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of important to contribute to sort of the level of complexity there's a growing number of advantages being organ or being offered by businesses throughout the world so once again you're just seeking to include a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real obstacles or real tough kind of pay uses to play to pay people I believe yeah I imply over the last well yeah a couple of years I would definitely say that the larger an organization 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 information into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and an era that you know that we are working in today there is no reason why we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from a cost viewpoint from an impact perspective on employees it is definitely vital that it's done properly and on time so what we suggest 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 damaging effect on individuals's well-being and many other factors if individuals aren't paid uh I've constantly been impressed entering this Market type of the last five to ten years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just observe when things fail. However, when things go right, it's viewed as just a regular task. This is how it's perceived externally too. Therefore, it is essential to make sure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the very first Global Payments first payroll payment solution is a terrific preliminary action towards offering an extensive payroll service for workers worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and checking account necessary for international payroll are key consider accomplishing business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as planned. Eventually, we do not do it for the gratitude.
anyway we know how how important a role 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 everyone that's involved in those processes and likewise so think of sorry I'm just I was just 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 speaking about hundreds of thousands possibly Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case 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 get back to everyone so carrying on appearance why do business choose to main separate bank accounts there are organizations out there doing exactly this for specific countries and I have actually worked in an organization or many organizations doing exactly that I can state it does not always feel effective and it does create more work I know we're not intentionally doing that we're not developing additional work for anyone where we don't need to and any person that's managing 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 think lots of reasons one is it's the requirement I believe individuals have got so used to we need a new checking account we open an entity and appropriately 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 simply been the requirement and the norm the people have adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I think there's a variety I think this is a process that needs looking at it needs changing but ultimately people are really stuck with what they're familiar
with right um modification is a hard thing all of us do not like change um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having maintaining numerous bank accounts but there's a big quantity of intricacy chooses establishing a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is huge but I believe the truthful response is modification um people have not had the ability to alter or haven't had always the understanding to actually 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 knowledge you understand and there is an element of resistance to change however we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century or two there is a lot to monitor and this method does pose several difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you should have a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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