Find out more about Papaya Global Cloud Version ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and reliable technique of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and specialists
The Worker Portal provides employees with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Advantages Administration
Papaya Global helps companies provide competitive advantages bundles to global employees despite the variety of employees in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local advantages service providers in every country, produce local accounts and have a minimum number of staff members.
The HR abilities provided by Worldwide HR encompass numerous functions such as monitoring trip time, making sure compliance, facilitating the procedure of inviting new employees and bidding goodbye to leaving ones, offering a safe and secure online platform for saving workers' documents, and providing assistance for work permit procedures in case your workers require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, overall work expenses distributed per place, total work expenses per cycle and a lot more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout business handling and building external relationships supporting Enterprise clients and services along with serving as an advisor for those of you that do not understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for a lot of prominent business on the planet we supply payroll payments and labor force management to all employee types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon excellent evening depending on where you are in the world it's beautiful to satisfy 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 ten years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I've type of had a range of different roles on the provider side and likewise on the vendor side from a payroll point of view so really anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply provide everybody another couple 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 quite interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely bleak and I wish I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies maintain different
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex difficulty for organizations operating internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, find out how business anticipate payroll costs to optimize working capital, and find how streamlining international payroll payments can transform them from a troublesome job into a tactical possession.
Handling payroll worldwide is a difficult job due to numerous policies, compliance requirements, data security issues, and banking rules. The sheer number of staff members and businesses contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and an absence of combination, causing inconsistencies and inefficiencies. In spite of residing in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to offer insights and solutions 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 information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in worldwide payroll the less of a picture they see an absence of exposure also extends to payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the transaction almost half of global companies have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors badly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is shipped to the incorrect location the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're making payments to employees or otherwise that's a good question I always throw this back and state what is it what does not require to be included best and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 client's own in-country account so there's complexity any place you look right ultimately developing a knowledge base is absolutely vital but all over you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to sort of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely necessary that payroll and finance teams work better together than ever um I'm always surprised when people state 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 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 procedure it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more essential to add to type of the level of complexity there's increasingly more benefits being organ or being used by organizations throughout the world so again you're just aiming to add increasingly more payments to this currently 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 genuine challenges or real challenging type of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a number of decades I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding details into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason that we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any service has from a cost perspective from an impact point of view on workers it is definitely critical that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful result on individuals's well-being and lots of other elements if people aren't paid uh I've always been surprised coming into this Market kind of the last 5 to ten years is how little thanks the
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just discover when things go wrong. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's perceived externally as well. For that reason, it is essential to make sure that jobs like Wi-Fi Global and other crucial matters are done correctly. Using the very first Worldwide Payments very first payroll payment option is an excellent preliminary action towards supplying an extensive payroll option for workers worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and bank accounts necessary for global payroll are crucial factors in achieving business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as prepared. Ultimately, we do not do it for the appreciation.
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 simple as possible for everyone that's involved in those procedures and also so think of sorry I'm just I was just gon na state think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions picture getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't imagine 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 really see what was going on and kind of try to return to everyone so proceeding look why do companies pick to primary different savings account there are companies out there doing exactly this for specific nations and I have actually worked in a business or numerous companies doing precisely that I can state it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not producing additional work for any person where we don't have to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe many reasons one is it's the standard I believe individuals have actually got so used to we need a new savings account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I think this is a process that needs looking at it needs changing however eventually people are very stuck to what they recognize
with best um modification is a hard thing we all do not like change um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having preserving several checking account however there's a substantial amount of intricacy opts for establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for private people so the complexity is substantial however I believe the truthful response is change um people have not been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to monitor and this technique does pose several challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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