Find out more about Papaya Global Courses Groupon ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a secure and trusted technique of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app simplifies my payroll procedure, conserving me a considerable amount of time each month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Employee Portal provides employees with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global assists business provide competitive advantages bundles to global employees no matter the variety of workers in the business. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local benefits companies in every country, produce local accounts and have a minimum number of staff members.
The HR abilities supplied by Global HR encompass different functions such as keeping an eye on vacation time, ensuring compliance, facilitating the procedure of inviting new employees and bidding farewell to leaving ones, offering a safe online platform for storing employees' documents, and offering assistance for work allow procedures in case your employees require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, overall work costs dispersed per place, total work expenses per cycle and much more.
environments across the globe I provided management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work throughout the business handling and building external relationships supporting Business clients and options as well as acting as an advisor for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We focus on providing payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have actually constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of various roles on the supplier side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I really 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 really very gloomy and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is especially useful for worldwide companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of keeping separate savings account for payroll in different 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 discuss why they are becoming a strategic possession for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and timely payroll payments is a complex obstacle for services running worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to optimize working capital, and find how streamlining worldwide payroll payments can transform them from a troublesome job into a tactical asset.
Handling payroll globally is a difficult job due to different regulations, compliance requirements, data security issues, and banking rules. The sheer number of employees and businesses contributes to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems often lead to manual processes, data silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. Despite residing in an age of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to provide insights and solutions to streamline 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 businesses state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of a picture they see an absence of visibility also reaches payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of global businesses have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors inadequately interacted hires and terminations in addition to lack management and system configurations and after that when you round everything off and the information is delivered to the wrong location the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they count on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties business 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 need to be consisted of ideal 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 country 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 have to pay from the customer's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is absolutely critical however all over you look with payroll payment they are like incredibly payments no if however 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 progress with that it also also to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely important that payroll and financing teams work more detailed together than ever um I'm constantly astonished when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession 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 typically 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 individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to add to kind of the level of intricacy there's a growing number of advantages being organ or being offered by organizations across the world so again you're simply wanting to add more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real difficulties or genuine tough type of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding details into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that does not necessarily require to be the case you know 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 prompt they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from an expense perspective from an impact viewpoint on employees it is definitely important that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest detrimental effect on individuals's well-being and lots of other elements if people aren't paid uh I have actually always been impressed entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually 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 discover when things fail. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally also. Therefore, it is vital to make sure that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the very first International Payments very first payroll payment option is an excellent initial step towards offering an extensive payroll option for employees worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and checking account needed for worldwide payroll are key factors in attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don't go as prepared. Eventually, we don't do it for the thankfulness.
anyhow we understand how how essential a function 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 everyone that's involved in those procedures and also so imagine sorry I'm simply I was just gon na say imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and in fact see what was going on and type of try to return to everybody so proceeding look why do business choose to main separate checking account there are services out there doing exactly this for particular countries and I've operated in an organization or numerous organizations doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not developing extra work for any person where we do not have to and anyone that's handling that process 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 numerous reasons one is it's the requirement I think individuals have got so utilized to we require a brand-new checking account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I believe this is a process that requires looking at it requires altering however ultimately people are extremely stuck with what they recognize
with best um modification is a challenging thing we all do not like modification um so I think it's just kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having preserving multiple savings account but there's a huge quantity of complexity goes with establishing a savings account maintaining it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the intricacy is big however I think the truthful response is change um individuals haven't had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking 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 position a number of obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I just did you changed our Enterprise 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 Global employees you deserve a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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