Find out more about Papaya Global Change Backup Location ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly committed to managing payments. This offers us with a protected and reputable technique of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and employment documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies use competitive advantages packages to worldwide employees despite the number of staff members in the company. The business can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the requirement to source regional advantages providers in every country, create regional accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total employment expenses distributed per area, overall employment costs per cycle and a lot more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business handling and building external relationships supporting Business clients and services in addition to functioning as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for many prominent companies in the world we offer payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon excellent night depending upon where you remain in the world it's beautiful to fulfill 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 market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or six years where I've type of had a variety of various functions on the provider side and likewise on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort 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 sort of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely really gloomy and I wish I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why business preserve separate
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is especially beneficial for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for businesses operating internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, find out how companies forecast payroll expenses to enhance working capital, and find how enhancing international payroll payments can transform them from a burdensome task into a strategic property.
Managing payroll worldwide is a challenging job due to numerous regulations, compliance requirements, data security issues, and banking guidelines. The large number of staff members and companies adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently result in manual processes, data silos, and a lack of combination, causing inconsistencies and ineffectiveness. Regardless of living in an era of technological advancements, payroll management has actually been slow to adapt, 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 optimize international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a business spends on international payroll the less of a photo they see an absence of visibility also extends to payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction almost half of worldwide companies have revealed 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 poor HCM information information entry mistakes poorly communicated hires and terminations along with lack management and system configurations and then when you round everything off and the data is delivered to the wrong location the typical cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they depend on the required several processes 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 difficulties company face when they're making payments to staff members or otherwise that's a good question I always toss this back and state what is it what doesn't need to be included ideal and what does
it need 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 amount of time there's payment abilities so can you pay it from International or do you have 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 best ultimately constructing a knowledge base is absolutely critical but all over you look with payroll payment they resemble super payments no if however 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 acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to type of progress 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 procedures is absolutely vital that payroll and finance groups work more detailed together than ever um I'm always astonished when people say I have actually divided payroll and payment um if you walk 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 typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more crucial to contribute to kind of the level of intricacy there's more and more benefits being organ or being offered by services across the world so once again you're simply looking to add a growing number of payments to this currently intricate landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine challenges or genuine tough type of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of years I would certainly say 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 task there are groups feeding details 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 doesn't 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 operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in a period of tech and a period that you know that we are operating in today there is no reason 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 perspective from an impact perspective on staff members it is absolutely crucial that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive result on individuals's wellness and numerous other elements if individuals aren't paid uh I've constantly been surprised entering into this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just see when things fail. However, when things go right, it's viewed as simply a routine task. This is how it's viewed externally also. Therefore, it is necessary to make sure that jobs like Wi-Fi Global and other vital matters are done properly. Using the first International Payments very first payroll payment solution is an excellent preliminary action towards offering a detailed payroll solution for employees worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and bank accounts required for global payroll are crucial consider achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as prepared. Ultimately, we don't 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 easy as possible for everyone that's associated with those processes and likewise so envision sorry I'm just I was simply gon na state think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions envision getting that many thank you notes um I indicate 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 attempt to check out them and in fact see what was going on and sort of try to get back to everyone so moving on look why do business choose to main different bank accounts there are services out there doing precisely this for particular nations and I've worked in a service or numerous businesses doing exactly that I can state it doesn't constantly feel effective and it does produce more work I know we're not purposely doing that we're not developing extra work for anybody where we don't have to and anybody that's dealing with 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 many factors one is it's the requirement I think people have got so used to we need a new savings account we open an entity and rightly so you require it for payroll purposes 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 add to that individuals have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs taking a look at it needs altering however eventually individuals are extremely stuck with what they recognize
with ideal um modification is a hard thing we all do not like modification um so I think it's simply sort 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 comprehend certainly the advantages of having preserving numerous bank accounts but there's a substantial amount of complexity chooses setting up 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 complexity is big but I believe the truthful answer is modification um individuals haven't had the ability to alter or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century or two there is a lot to monitor and this method does pose several obstacles um so Johnny could you inform 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 manage our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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