Find out more about Papaya Global Courses Guildford College ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and reliable technique of making payments to our 10,000 workers worldwide.}
The innovative global payroll management app simplifies my payroll process, saving me a considerable amount of time monthly. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Staff member Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to global workers despite the number of employees in the business. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local advantages suppliers in every country, produce regional accounts and have a minimum number of employees.
The HR abilities supplied by Worldwide HR include different functions such as keeping track of holiday time, ensuring compliance, assisting in the process of inviting new workers and bidding farewell to leaving ones, providing a safe online platform for saving employees' documents, and providing support for work permit procedures in case your workers require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total employment expenses dispersed per location, total work costs per cycle and a lot more.
Worldwide, I have actually demonstrated management and tactical knowledge in assisting massive populations of over 100,000 staff members across 170 nations. Presently, I are accountable for supervising payroll methods, as mentioned by Mark. My function involves managing and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
business to make the time 100 list for many influential business in the world we supply payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon excellent night 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 10 years and specifically working on the payroll and payment sector for over 7 years um I was interested by the complexity the problem in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or six years where I have actually sort of had a range of different roles on the supplier side and also on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or so 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 everybody is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really extremely bleak and I want I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and timely payroll payments is a complex challenge for businesses running globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll costs to optimize working capital, and discover how improving worldwide payroll payments can transform them from a difficult task into a tactical asset.
Managing payroll worldwide is a daunting job due to numerous policies, compliance requirements, data security concerns, and banking rules. The large number of staff members and businesses adds to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems often lead to manual procedures, information silos, and a lack of integration, resulting in disparities and ineffectiveness. In spite of residing in an era of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to offer insights and solutions to simplify and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more a company spends on international payroll the less of an image they see an absence of presence likewise reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal almost half of global companies have actually expressed that they do not 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 mistakes poorly communicated hires and terminations in addition to lack management and system setups and after that when you round all of it off and the data is shipped to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they count on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties company face when they're paying to employees or otherwise that's a good concern I constantly throw this back and state what is it what does not need to be consisted of right and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is absolutely important but everywhere you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing 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 Checking account Particulars varying banking requirements and setup processes is absolutely important that payroll and financing teams work better together than ever um I'm always impressed 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 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 eventually 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 however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to contribute to kind of the level of complexity there's increasingly more benefits being organ or being used by businesses across the world so once again you're simply seeking to include more and more payments to this already complex landscape so if you sort of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine challenges or genuine tough kind of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would certainly say that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to create extra handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they do not make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason we are still making this as challenging as it needs to be concurred and rightly as you said payroll is the single most significant liability that any business has from a cost viewpoint from an impact point of view on employees it is definitely critical 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 have to be done right it has the greatest damaging result on people's wellness and numerous other elements if individuals aren't paid uh I've always been impressed entering this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm not sure anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an important cycle we all become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment option is a fantastic first step um offering an end-to-end payroll solution for your workers worldwide once again I believe is another huge um process again aligning and ensuring you have standardization Global processes all of those things are absolutely essential to success success of companies and decreasing the variety of tools platforms and bank accounts they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone quite where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyway we understand 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 processes and likewise so envision sorry I'm just I was simply gon na say envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and really see what was going on and type of try to get back to everyone so carrying on appearance why do companies choose to primary different savings account there are organizations out there doing precisely this for particular nations and I have actually worked in an organization or many companies doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not creating additional work for anybody where we don't need to and any person 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 lots of factors one is it's the requirement I believe individuals have actually got so utilized to we need a brand-new checking account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to add to that people have 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 variety I believe this is a process that needs taking a look at it requires altering however ultimately people are really stuck to what they're familiar
with right um change is a tough thing all of us do not like change um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having maintaining several checking account but there's a huge amount of intricacy chooses setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for specific individuals so the intricacy is big but I think the sincere 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 other than opening a checking account I think you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we've always done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century or so there is a lot to keep an eye on and this approach does present numerous difficulties um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I just did you changed 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 staff members you should have a corner office with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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