Find out more about Papaya Global Course Classroom ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and trusted method of making payments to our 10,000 workers worldwide.}
The advanced worldwide payroll management app streamlines my payroll procedure, conserving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
The Staff member Website offers staff members with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages bundles to worldwide employees no matter the number of employees in the business. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local advantages companies in every nation, create local accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment costs distributed per location, overall work costs per cycle and far more.
environments across the globe I provided management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout business handling and building external relationships supporting Enterprise clients and services along with functioning as an advisor for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential companies on the planet we provide payroll payments and workforce management to all staff member enters over 160 countries I am pleased to state 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 good afternoon excellent evening depending on where you are in the world it's charming to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of different functions on the supplier side and likewise on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone comes 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 extremely extremely dreary and I want I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies keep different
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is especially useful for global organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and timely payroll payments is a complex difficulty for companies operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll expenses to enhance working capital, and discover how simplifying worldwide payroll payments can transform them from a challenging task into a strategic property.
Managing payroll worldwide is an overwhelming task due to various guidelines, compliance requirements, data security concerns, and banking guidelines. The large number of staff members and services adds to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual procedures, data silos, and a lack of integration, resulting in inconsistencies and ineffectiveness. Despite residing in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to offer insights and services to simplify and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of an image they see a lack of visibility also reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide businesses have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes inadequately interacted hires and terminations in addition to lack management and system setups and then when you round all of it off and the information is delivered to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they count on the essential numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges service face when they're making payments to staff members or otherwise that's a good concern I always throw this back and state what is it what does not need to be consisted of best and what does
it require to be thought of there's differing 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 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 intricacy any place you look best eventually building a knowledge base is absolutely critical but everywhere you look with payroll payment they resemble very payments no if but some children 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 believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is enabling us to kind of move on with that it likewise as well to add to that payroll and finance require to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely crucial that payroll and financing teams work more detailed 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 work in the payroll occupation would they split the payroll payment from computation 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 process it's the point of information collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on wellness and the compensation landscape is ending up being significantly elaborate. Companies are continuously presenting brand-new benefits and payment alternatives, which adds to the overall complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can cause inefficiencies and bottlenecks. In my viewpoint, this does not have to hold true. In today's technically sophisticated era, there's no validation for preserving troublesome procedures. Payroll, the business's biggest expenditure, should be processed properly and on time. Even minor hold-ups can negatively impact staff members' wellness and have far-reaching consequences. Therefore, it's important to focus on precise and prompt payments.
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just observe when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally also. For that reason, it is vital to guarantee that jobs like Wi-Fi Global and other important matters are done properly. Using the very first Global Payments very first payroll payment service is a fantastic preliminary action towards providing an extensive payroll service for staff members worldwide. Standardization, international procedures, and reducing the variety of tools, platforms, and savings account necessary for international payroll are essential consider achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as prepared. Eventually, we don't do it for the gratitude.
anyway we understand how how important a role 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 easy as possible for everybody that's involved in those procedures and likewise so imagine sorry I'm simply I was just gon na state imagine 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 possibly Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and really see what was going on and kind of shot to get back to everyone so proceeding appearance why do companies select to primary different savings account there are businesses out there doing exactly this for specific nations and I've operated in an organization or many companies doing precisely that I can say it does not always feel effective and it does develop more work I know we're not intentionally doing that we're not producing additional work for anybody where we don't need to and anyone that's handling 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 amount that we are I believe lots of factors one is it's the requirement I think people have got so used to we require a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and lots of other ways um to to type of do it so I think there's a variety I believe this is a procedure that requires taking a look at it requires altering however ultimately individuals are really stuck to what they're familiar
with right um modification is a challenging thing all of us don't like modification um so I believe it's just kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having preserving numerous checking account but there's a big quantity of complexity goes with establishing a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private individuals so the complexity is big however I believe the sincere answer is modification um people haven't been able to change or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century or two there is a lot to keep track of and this method does present several difficulties um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I simply did you switched our Enterprise 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 employees you are worthy of a corner workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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