Find out more about Papaya Global Cloud Professional ... 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 actually gotten a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a protected and dependable method of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
Employee Website
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax declarations and employment files. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to worldwide workers regardless of the variety of employees in the business. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional benefits providers in every country, develop local accounts and have a minimum number of workers.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses dispersed per place, total employment expenses per cycle and much more.
environments around the world I supplied management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across business managing and building external relationships supporting Enterprise clients and options along with acting as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for most influential companies on the planet we offer payroll payments and workforce management to all worker enters over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon great evening depending upon where you are in the world it's lovely 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've been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of different functions on the company side and also 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 just provide everybody another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very really dreary and I wish I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business preserve different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of preserving different bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and prompt payroll payments is a complex difficulty for services running worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, find out how business forecast payroll costs to enhance working capital, and discover how simplifying worldwide payroll payments can transform them from a difficult job into a strategic asset.
Managing payroll globally is a daunting task due to various policies, compliance requirements, information security issues, and banking guidelines. The sheer number of workers and businesses adds to the intricacy, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. Regardless of living in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to offer insights and options to streamline and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more an organization spends on worldwide payroll the less of an image they see a lack of visibility also extends to payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of global services have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes poorly communicated hires and terminations as well as lack management and system setups and then when you round all of it off and the data is shipped to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe 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 perspective and in your experience what else requires to be factored into the obstacles company face when they're paying to employees or otherwise that's a good question I constantly throw this back and say what is it what doesn't need to be included 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 amount of time 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 best eventually building a knowledge base is absolutely important but all over you look with payroll payment they resemble extremely payments no if but some infants 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 definitely essential and technology is enabling us to type of move on with that it also too to contribute to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm always impressed when individuals say 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 occupation would they split the payroll payment from estimation 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 process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high worth on well-being and the compensation landscape is becoming increasingly complex. Services are continuously presenting new advantages and payment choices, which adds to the total complexity. Large corporations typically divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't need to hold true. In today's technologically sophisticated age, there's no justification for maintaining troublesome treatments. Payroll, the business's biggest expenditure, must be processed properly and on time. Even slight hold-ups can adversely impact employees' wellness and have significant repercussions. For that reason, it's vital to focus on accurate and timely payments.
payroll group get um so I'm not sure anyone on this sort 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 ultimately payroll is such a crucial cycle all of us hear about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment solution is a fantastic initial step um providing an end-to-end payroll option for your workers internationally once again I think is another big um process once again aligning and ensuring you have standardization International processes all of those things are absolutely crucial to success success of businesses and lowering the variety of tools platforms and savings account they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never 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 complaints where things haven't gone rather where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyhow 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 everybody that's associated with those processes and likewise so picture sorry I'm simply I was just gon na say picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions picture getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting job 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 attempt to check out them and really see what was going on and sort of try to return to everyone so moving on look why do business choose to main separate bank accounts there are organizations out there doing precisely this for specific nations and I've operated in a service or lots of services doing precisely that I can say it doesn't constantly feel effective and it does create more work I know we're not purposely doing that we're not developing extra work for anyone where we don't need to and any person that's dealing with that procedure 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 think lots of factors one is it's the requirement I think individuals have actually got so used to we need a new checking account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I think this is a procedure that needs looking at it requires changing however ultimately individuals are really stuck to what they recognize
with best um modification is a challenging thing all of us don't like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having keeping multiple bank accounts however there's a huge quantity of complexity chooses setting up a savings account keeping it ensuring 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 sincere answer is modification um individuals have not had the ability to change or have not had always the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century or so there is a lot to keep an eye on and this technique does present several difficulties um so Johnny could you inform us about those challenges 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 handle our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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