Find out more about Papaya Global Change Pension Pay Elements ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a secure and trusted method of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Staff member Portal offers staff members with the ability to access and view important documents 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 various languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits packages to worldwide workers no matter the number of staff members in the business. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source regional benefits suppliers in every nation, create regional accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, total employment expenses dispersed per place, overall work expenses per cycle and a lot more.
Internationally, I have actually demonstrated leadership and strategic know-how in directing large-scale populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for managing payroll strategies, as mentioned by Mark. My function includes managing and developing external partnerships, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
company to make the time 100 list for a lot of influential companies on the planet we supply payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon good night depending upon where you remain 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 have actually been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've kind of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or so to join we all 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 simply to hear where everyone is um it's nice to to sort of like see where everyone comes 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 really extremely gloomy and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business maintain different
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is particularly useful for international companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property 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.
Guaranteeing precise, efficient, and timely payroll payments is a complex challenge for businesses running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to enhance working capital, and find how streamlining worldwide payroll payments can transform them from a troublesome task into a tactical asset.
Handling payroll internationally is a complicated task due to numerous policies, compliance requirements, data security concerns, and banking guidelines. The large number of staff members and businesses contributes to the complexity, with an estimated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems typically lead to manual processes, information silos, and an absence of combination, causing disparities and ineffectiveness. In spite of residing in a period of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to offer insights and options to simplify and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more a service invests in worldwide payroll the less of an image they see an absence of visibility also encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of global companies have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors inadequately communicated hires and terminations in addition to absence management and system configurations and after that when you round everything off and the information is shipped to the incorrect place the typical cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they count on the required multiple procedures 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 challenges company face when they're paying to staff members or otherwise that's a great question I always toss this back and state what is it what does not need to be consisted of ideal and what does
it need to be thought of 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 have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy wherever you look best ultimately developing a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and technology is allowing us to kind of progress with that it also also to add to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely important that payroll and financing teams work better together than ever um I'm always surprised when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation 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 process it's the point of information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of important to contribute to kind of the level of intricacy there's more and more benefits being organ or being used by businesses across the world so again you're just seeking to include a growing number of payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real obstacles or real challenging kind of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups 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 but you know in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we require to develop additional handoffs while doing sos that we operate in they just 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 understand that we are operating in today there is no reason that we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single greatest liability that any business has from an expense point of view from an effect perspective on workers it is definitely critical 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 biggest damaging result on people's wellness and lots of other aspects if people aren't paid uh I've constantly been astonished coming into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anybody on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle all of us hear about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment option is an excellent first step um offering an end-to-end payroll option for your workers globally once again I believe is another big um process again lining up and ensuring you have standardization International processes all of those things are absolutely crucial to success success of businesses and decreasing the variety of tools platforms and bank accounts they require for their Global 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 have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're meant to be um I don't think any of us are in fact doing that for for the thanks
anyhow we know how how crucial 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 also so envision sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and in fact see what was going on and type of try to get back to everyone so proceeding look why do business pick to primary different checking account there are services out there doing precisely this for particular nations and I have actually operated in a company or many businesses doing precisely that I can state it doesn't always feel efficient and it does develop more work I know we're not deliberately doing that we're not creating additional work for any person where we do not need to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe many factors one is it's the standard I believe individuals have got so utilized to we require a new bank account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm the people have actually embraced 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 kind of do it so I think there's a variety I think this is a process that requires looking at it requires altering however eventually individuals are extremely stuck to what they recognize
with right um modification is a difficult thing all of us don't like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having maintaining multiple checking account however there's a huge quantity of intricacy chooses setting up a bank account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for specific people so the complexity is huge but I think the honest response is modification um people have not had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to change 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 might nearly be figured out to be the next Century approximately there is a lot to track and this method does posture a number of challenges um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I recently made a change 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 actually gained another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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