Find out more about Papaya Global Captcha Not Working ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a protected and reliable approach of paying to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, conserving me a significant amount of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Employee Website supplies staff members with the capability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies use competitive benefits plans to worldwide workers regardless of the variety of employees in the company. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source local benefits service providers in every nation, create local accounts and have a minimum variety of employees.
The HR abilities provided by International HR include numerous functions such as keeping an eye on vacation time, ensuring compliance, helping with the procedure of inviting brand-new workers and bidding farewell to departing ones, using a safe online platform for storing workers' documents, and offering support for work allow treatments in case your staff members need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall work expenses dispersed per area, total work costs per cycle and much more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business managing and structure external relationships supporting Enterprise clients and options in addition to acting as an advisor for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a satisfaction to satisfy 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 years of experience in the payments industry, I have actually focused on payroll and payment options for the past seven years. The complexities and difficulties of this field have actually constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I've type of had a range of different functions on the supplier side and also on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather fascinating 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 comes from and I actually 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 really very gloomy and I wish I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business maintain different
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially useful for international companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate savings account for payroll in various 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 go over why they are becoming a strategic possession for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and prompt payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll costs to enhance working capital, and find how enhancing global payroll payments can change them from a troublesome job into a tactical property.
Managing payroll worldwide is a daunting job due to different policies, compliance requirements, data security issues, and banking rules. The sheer variety of staff members and services contributes to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual processes, information silos, and a lack of integration, leading to inconsistencies and inefficiencies. Regardless of residing in an age of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to provide insights and options to simplify and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more a business spends on international payroll the less of an image they see an absence of exposure also extends to payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the transaction almost half of global organizations have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors poorly interacted hires and terminations as well as lack management and system setups and then when you round everything off and the information is delivered to the wrong location the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they depend on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're making payments to workers or otherwise that's an excellent concern I always toss this back and state what is it what does not need to be consisted of right and what does
it need to be thought about 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 capabilities 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 consumer's own in-country account so there's complexity any place you look right ultimately building a knowledge base is definitely vital but all over 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 take a 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 essential and technology is allowing us to sort of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing groups work more detailed together than ever um I'm always amazed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often 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 any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of important to contribute to type of the level of complexity there's increasingly more benefits being organ or being offered by organizations across the world so again you're just seeking to include more and more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real challenges or genuine tough sort of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of decades I would definitely state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding info into the next function as it were that's actually managing the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to produce extra handoffs in the processes that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason that we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any company has from an expense viewpoint from an effect viewpoint on staff members it is absolutely vital 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 need to be done right it has the biggest destructive result on individuals's well-being and numerous other elements if individuals aren't paid uh I've always been astonished entering this Market sort of the last 5 to ten years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only observe when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's viewed externally too. For that reason, it is essential to ensure that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the first Global Payments very first payroll payment service is an excellent initial step towards providing a detailed payroll option for workers worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and bank accounts required for global payroll are key factors in achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things don't go as planned. Eventually, we do not do it for the gratitude.
anyhow we understand how how essential a function 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 everybody that's involved in those processes and likewise so imagine sorry I'm just I was simply gon na say envision 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 discussing numerous thousands possibly Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and actually see what was going on and kind of shot to return to everybody so moving on appearance why do business pick to primary separate savings account there are companies out there doing precisely this for specific nations and I've operated in an organization or many companies doing exactly that I can state it does not constantly feel efficient and it does create more work I know we're not intentionally doing that we're not producing extra work for any person where we don't have 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 think numerous factors one is it's the standard I think individuals have actually got so utilized to we require a brand-new bank 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 believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I think this is a procedure that needs looking at it needs changing however eventually people are really stuck to what they recognize
with right um modification is a challenging thing all of us don't like modification um so I believe it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having keeping multiple bank accounts but there's a substantial amount of intricacy opts for setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's established with the best user accesses for specific people so the intricacy is huge however I believe the honest answer is change um people have not been able to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I think it is understanding you know and there is a component of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to keep track of and this method does present a number of difficulties um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you are worthy of a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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