Find out more about Papaya Global Cis Report ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and reliable technique of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app simplifies my payroll process, saving me a substantial quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Staff member Portal offers staff members with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to global employees despite the variety of staff members in the business. The business can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source regional benefits providers in every country, develop regional accounts and have a minimum variety of employees.
The HR capabilities offered by International HR incorporate various functions such as keeping track of getaway time, making sure compliance, facilitating the process of welcoming new employees and bidding goodbye to departing ones, offering a secure online platform for storing employees' documents, and supplying assistance for work permit treatments in case your staff members require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, overall work expenses distributed per place, total work expenses per cycle and far more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and building external relationships supporting Business clients and options as well as functioning as an advisor for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As an international business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce 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 decade of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have always mesmerized me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've kind of had a variety of different roles on the supplier side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone 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 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 elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business keep separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is especially useful for global organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex difficulty for services running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, discover how business anticipate payroll expenses to enhance working capital, and discover how simplifying global payroll payments can change them from a troublesome task into a tactical asset.
Handling payroll internationally is an overwhelming task due to different guidelines, compliance requirements, data security issues, and banking guidelines. The sheer variety of staff members and services adds to the complexity, with an estimated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems often result in manual procedures, data silos, and an absence of integration, causing inconsistencies and inefficiencies. In spite of residing in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to offer insights and solutions to simplify and enhance international payroll payments.
about it to provide you a concept 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 gives me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of an image they see a lack of presence likewise reaches payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the transaction almost half of international businesses 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 mistakes are because of time reporting bad HCM information data entry mistakes badly interacted hires and terminations along with lack management and system configurations and then when you round it all off and the information is delivered to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments don't run smoothly if they rely on the needed multiple 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 difficulties company face when they're making payments to staff members or otherwise that's a great question I always toss this back and say what is it what does not require to be consisted of ideal and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation 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 customer's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is absolutely critical however all over you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is enabling us to type of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely essential that payroll and financing teams work better together than ever um I'm constantly surprised when people state I have actually split 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 frequently split and cut up um eventually 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 however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on well-being and the compensation landscape is ending up being progressively intricate. Services are constantly presenting new benefits and payment alternatives, which adds to the overall intricacy. Large corporations typically divide their payroll and payment processing into separate groups, which can result in inefficiencies and bottlenecks. In my opinion, this does not have to hold true. In today's highly advanced era, there's no reason for keeping cumbersome treatments. Payroll, the company's greatest expense, must be processed correctly and on time. Even small hold-ups can negatively affect staff members' wellness and have significant effects. For that reason, it's vital to focus on accurate and prompt payments.
payroll team get um so I'm not sure anyone on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely essential that all of this things is done correctly so leveraging the very first Global Payments first payroll payment option is a fantastic first step um supplying an end-to-end payroll solution for your staff members worldwide once again I think is another big um process again lining up and guaranteeing you have standardization International procedures all of those things are absolutely crucial to success success of services and reducing the variety of tools platforms and bank accounts they need 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 ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I don't think any of us are really doing that for for the thanks
anyway we understand 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 just I was just gon na state envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see how many 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 think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and in fact see what was going on and kind of try to return to everyone so proceeding appearance why do business select to primary different checking account there are organizations out there doing precisely this for specific nations and I have actually operated in a company or lots of organizations doing exactly that I can say it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not producing additional work for any person where we don't have to and any person that's dealing with that process 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 standard I think people have got so used to we require 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 just been the standard and the norm the people have adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I think this is a process that needs looking at it needs changing however ultimately individuals are really stuck to what they're familiar
with right um modification is a difficult thing we all don't like change um so I believe 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 stuff um I understand certainly the advantages of having maintaining numerous bank accounts however there's a big quantity of intricacy opts for setting up a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for specific people so the complexity is huge but I think the truthful answer is change um people haven't had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century or so there is a lot to keep track of and this approach does present a number of challenges um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage 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 successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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