Find out more about Papaya Global Change Reports Directory ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This offers us with a protected and reputable method of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Worker Website offers employees with the ability to access and view essential 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 numerous languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to worldwide staff members regardless of the variety of staff members in the company. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional benefits suppliers in every country, create local accounts and have a minimum number of employees.
The HR abilities provided by Global HR incorporate different functions such as keeping track of vacation time, guaranteeing compliance, helping with the procedure of welcoming new employees and bidding farewell to leaving ones, using a safe online platform for saving employees' documents, and providing assistance for work allow procedures in case your staff members require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, overall employment costs distributed per place, overall employment expenses per cycle and much more.
environments across the globe I provided leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business handling and structure external relationships supporting Business customers and services as well as acting as an advisor 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 the majority of prominent companies on the planet we provide payroll payments and labor force management to all employee enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon great evening depending upon where you remain in the world it's charming to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was interested by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of different functions on the provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just 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 kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes 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 raining here it's very extremely uninspiring and I wish I was somewhere else at this moment in time alright 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 handling Global payroll why business keep separate
Virtual payroll accounts are an alternative to traditional checking account for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping 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 benefits of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and prompt payroll payments is a complex challenge for companies running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, discover how business forecast payroll costs to optimize working capital, and find how simplifying global payroll payments can change them from a difficult task into a strategic asset.
Managing payroll globally is a difficult job due to numerous policies, compliance requirements, data security concerns, and banking guidelines. The sheer number of staff members and organizations adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual procedures, information silos, and an absence of combination, causing inconsistencies and ineffectiveness. Regardless of residing in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to offer insights and solutions to streamline and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more an organization invests in international payroll the less of an image they see a lack of visibility likewise encompasses payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal nearly half of international organizations have actually revealed 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 due to time reporting bad HCM information data entry mistakes badly interacted hires and terminations along with absence management and system configurations and after that when you round everything off and the data is delivered to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they count on the essential several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles service face when they're paying to employees or otherwise that's an excellent question I always throw this back and state what is it what doesn't need to be consisted of best 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 nation there's payment time frames there's payment capabilities 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 complexity anywhere you look ideal eventually building a knowledge base is definitely important however everywhere you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is enabling us to sort of move forward with that it also as well to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely important that payroll and finance groups work better together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to add to kind of the level of intricacy there's a growing number of benefits being organ or being provided by businesses throughout the world so once again you're just aiming to include more and more payments to this already 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 real difficulties or genuine challenging kind of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a couple of years 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 teams feeding info into the next function as it were that's actually managing the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we run in they just make them more timely they make them less effective 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 working in today there is no reason why we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single greatest liability that any service has from an expense point of view from an impact point of view on employees it is absolutely important that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest destructive impact on individuals's wellness and many other elements if individuals aren't paid uh I've constantly been astonished entering into this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm uncertain anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done correctly so leveraging the first International Payments first payroll payment solution is an excellent initial step um offering an end-to-end payroll option for your staff members globally again I believe is another huge um procedure once again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of services and decreasing the variety of tools platforms and checking account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never 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 complaints where things have not gone rather where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how essential 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 procedures and also so think of sorry I'm simply I was just gon na state imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and really see what was going on and type of shot to return to everybody so carrying on appearance why do business choose to primary separate savings account there are organizations out there doing exactly this for specific countries and I've operated in an organization or many businesses doing precisely that I can state it doesn't always feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for anybody where we don't need 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 believe lots of factors one is it's the requirement I think individuals have actually got so used to we require a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have embraced and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I think this is a process that needs looking at it requires changing but eventually people are really stuck with what they're familiar
with right um modification is a difficult thing all of us do not like change um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having maintaining multiple bank accounts but there's a substantial amount of complexity chooses setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the complexity is substantial however I think the truthful response is modification um people haven't had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century or two there is a lot to monitor and this approach does pose numerous obstacles um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I 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 seems like our CFO has actually gotten another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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