Find out more about Papaya Global Course Bracknell And Wokingham College ... 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 gotten a separate Chief Financial Officer particularly dedicated to managing payments. This supplies us with a safe and secure and trusted method of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Employee Portal offers employees with the capability to access and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global assists business provide competitive benefits plans to global staff members no matter the number of workers in the business. The business can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source regional benefits suppliers in every nation, produce local accounts and have a minimum number of employees.
The HR abilities offered by Worldwide HR include different functions such as keeping track of trip time, guaranteeing compliance, facilitating the procedure of welcoming new staff members and bidding farewell to leaving ones, offering a protected online platform for storing workers' documents, and offering support for work allow procedures in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall employment expenses dispersed per location, total employment expenses per cycle and much more.
Internationally, I have demonstrated leadership and tactical expertise in guiding large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for managing payroll methods, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for most influential business worldwide we offer payroll payments and labor force management to all worker enters over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon excellent night depending on where you remain in the world it's beautiful to satisfy you and thank you very much for your time as Ian stated 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 particularly dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a variety of different functions on the supplier side and likewise on the vendor side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating 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 truly 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 drizzling here it's really really gloomy and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is particularly helpful for worldwide organizations with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different savings account for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and prompt payroll payments is a complex challenge for services operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to enhance working capital, and discover how streamlining international payroll payments can change them from a difficult job into a strategic asset.
Managing payroll worldwide is a challenging task due to numerous policies, compliance requirements, information security issues, and banking guidelines. The large number of staff members and companies adds to the intricacy, with an approximated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently result in manual processes, information silos, and a lack of integration, causing inconsistencies and inadequacies. Regardless of residing in a period of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to supply insights and options to simplify and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a service spends on global payroll the less of a picture they see an absence of presence likewise reaches payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the transaction almost half of international companies have revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes poorly communicated hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the information is shipped to the wrong location the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they count on the essential several procedures systems and partners it is simply 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 paying to workers or otherwise that's a great question I constantly toss this back and state what is it what doesn't require to be consisted of right and what does
it need to be thought about 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 abilities 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 wherever you look best ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 permitting us to sort of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and financing groups work closer together than ever um I'm constantly amazed when people 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 profession would they divide the payroll payment from computation I would say no so why do we as a market 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 individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high value on well-being and the settlement landscape is ending up being significantly intricate. Companies are continually presenting new advantages and payment options, which adds to the total complexity. Big corporations often divide their payroll and payment processing into separate teams, which can cause inefficiencies and bottlenecks. In my opinion, this does not have to be the case. In today's highly innovative period, there's no validation for maintaining troublesome procedures. Payroll, the business's greatest expenditure, should be processed correctly and on time. Even small hold-ups can adversely affect workers' wellness and have far-reaching effects. For that reason, it's crucial to focus on precise and prompt payments.
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals only see when things fail. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally also. Therefore, it is vital to make sure that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Using the first Global Payments very first payroll payment service is a fantastic initial step towards providing a thorough payroll option for workers worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and bank accounts needed for global payroll are essential factors in achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as planned. Eventually, we do not do it for the gratitude.
anyway we know how how important a function 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 processes and likewise so picture sorry I'm simply I was simply gon na state think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions envision getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task attempting to clean up all those up for sure oh definitely I can't think of 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 sort of shot to get back to everybody so proceeding look why do business choose to main separate bank accounts there are businesses out there doing exactly this for particular countries and I've worked in a service or lots of businesses doing exactly that I can say it does not always feel effective and it does develop more work I know we're not purposely doing that we're not creating extra work for any person where we don't have to and anyone that's handling 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 quantity that we are I believe numerous reasons one is it's the requirement I think individuals have got so used to we require a new bank account we open an entity and appropriately 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 requirement and the norm the people have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other methods um to to kind of do it so I think there's a range I believe this is a process that needs taking a look at it requires altering but eventually people are very stuck with what they recognize
with best um change is a difficult thing all of us don't like change um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having keeping multiple bank accounts but there's a huge amount of intricacy opts for setting up a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific people so the intricacy is substantial however I think the honest response is modification um individuals haven't had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions other than opening a savings account I think you've hit the nail on the head I think 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 reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could practically be determined to be the next Century or two there is a lot to keep track of and this technique does pose numerous difficulties um so Johnny could you tell us about those difficulties yeah of course 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 tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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