Find out more about Papaya Global Courses Chichester College ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to handling payments. This provides us with a safe and secure and reliable method of paying to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
The Worker Portal provides workers with the ability to access and view important documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global helps companies provide competitive benefits bundles to worldwide workers regardless of the number of workers in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits providers in every nation, develop local accounts and have a minimum number of employees.
The HR abilities provided by Worldwide HR encompass different functions such as monitoring holiday time, ensuring compliance, assisting in the process of welcoming brand-new workers and bidding goodbye to leaving ones, offering a safe and secure online platform for saving workers' files, and providing support for work permit treatments in case your workers need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total work costs distributed per location, total work costs per cycle and far more.
Worldwide, I have shown leadership and tactical expertise in directing massive populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for overseeing payroll techniques, as mentioned by Mark. My function involves handling and establishing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
company to make the time 100 list for the majority of prominent companies in the world we provide payroll payments and labor force management to all staff member key ins 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 present yourself of course thank you good morning great afternoon good night depending on where you remain in the world it's lovely to satisfy 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 have actually remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy 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've kind of had a variety of various roles on the service provider side and likewise on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone originates from and I truly 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 raining here it's really extremely dreary and I wish I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies preserve separate
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages 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.
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for businesses running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, learn how companies forecast payroll expenses to optimize working capital, and find how simplifying worldwide payroll payments can change them from a troublesome job into a tactical asset.
Handling payroll internationally is an overwhelming task due to various policies, compliance requirements, data security concerns, and banking guidelines. The large variety of workers and services adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual procedures, data silos, and a lack of combination, leading to inconsistencies and inadequacies. In spite of living in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims 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 just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a business invests in global payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide services 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 errors are because of time reporting bad HCM information data entry errors badly interacted hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the information is delivered to the wrong location the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently 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 obstacles business face when they're making payments to staff members or otherwise that's a great concern I always toss this back and say what is it what doesn't need to be included ideal and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look right eventually developing a knowledge base is absolutely crucial however everywhere you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to kind of move on with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing teams work better together than ever um I'm constantly astonished when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split 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 people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the payment landscape is becoming significantly complex. Services are continually presenting brand-new benefits and payment choices, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different teams, which can cause ineffectiveness and traffic jams. In my viewpoint, this does not have to be the case. In today's technologically sophisticated period, there's no reason for preserving cumbersome treatments. Payroll, the company's most significant expenditure, should be processed properly and on time. Even minor delays can negatively affect workers' wellness and have far-reaching effects. Therefore, it's important to focus on precise and prompt payments.
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only see when things fail. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's perceived externally also. For that reason, it is necessary to make sure that jobs like Wi-Fi International and other vital matters are done properly. Utilizing the very first International Payments very first payroll payment option is a great preliminary step towards offering a detailed payroll option for staff members worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and savings account necessary for worldwide payroll are crucial consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things don't go as planned. Eventually, we do not do it for the gratitude.
anyhow we know 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 simple as possible for everyone that's associated with those procedures and also so think of sorry I'm just 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 certain we're speaking about hundreds of thousands potentially Millions picture getting that many 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 job attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and in fact see what was going on and type of shot to get back to everyone so moving on look why do companies choose to primary separate checking account there are services out there doing precisely this for particular nations and I have actually worked in a company or lots of businesses doing exactly that I can say it doesn't always feel effective and it does develop more work I know we're not intentionally doing that we're not creating extra work for any person where we do not have to and any person that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the standard I think individuals have actually got so used to we require a brand-new savings account we open an entity and appropriately so you require 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 requirement and the norm individuals have embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to sort of do it so I think there's a range I believe this is a process that requires looking at it requires altering but eventually individuals are extremely stuck with what they recognize
with best um modification is a tough thing we all don't like change um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having maintaining multiple checking account however there's a big amount of intricacy chooses establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for individual individuals so the intricacy is substantial but I think the sincere answer is modification um people haven't been able to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter however we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could almost be determined to be the next Century approximately there is a lot to keep track of and this technique does present several difficulties um so Johnny could you tell us about those difficulties yeah obviously so there's a range right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you should have a corner office with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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