Find out more about Papaya Global Csv Import Template ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and trustworthy method of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
Staff member Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages plans to worldwide staff members regardless of the number of workers in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local benefits suppliers in every nation, develop local accounts and have a minimum variety of workers.
The HR abilities offered by Worldwide HR incorporate various functions such as keeping an eye on trip time, making sure compliance, assisting in the procedure of inviting brand-new workers and bidding farewell to departing ones, using a secure online platform for keeping employees' documents, and offering support for work allow treatments in case your staff members need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, overall work costs distributed per location, overall employment costs per cycle and far more.
Internationally, I have actually demonstrated management and tactical know-how in assisting massive populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for supervising payroll strategies, as mentioned by Mark. My role involves managing and developing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for the majority of prominent companies in the world we offer payroll payments and workforce management to all employee types in over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon excellent evening depending upon where you are in the world it's lovely to fulfill 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 remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or six years where I've type of had a range of various functions on the company side and also on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite 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 really do hope it's much sunnier than it remains 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 very bleak and I want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya Global payroll payments as a tactical asset uh we'll also discuss a wrap-up which must leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of common and handling them becomes a growing number of complicated Worldwide organizations are seeking to find Solutions and brand-new ways to improve processes particularly from a payroll and cross-border payment viewpoint numerous companies keep different bank account just for payroll while some have several accounts in different countries does it make good sense for companies to maintain separate savings account often in different countries it does however just for payroll is there a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business improve the episode complex procedures of
Making sure precise, efficient, and prompt payroll payments is a complex obstacle for organizations operating globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, learn how companies forecast payroll expenses to enhance working capital, and discover how simplifying global payroll payments can transform them from a burdensome task into a strategic property.
Handling payroll internationally is a daunting job due to different 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 global labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. Despite living in an era of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to provide insights and solutions to simplify and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more a service spends on international payroll the less of an image they see an absence of visibility also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of global organizations have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors poorly communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the information is shipped to the wrong place the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they rely on the essential multiple 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 challenges company face when they're paying to staff members or otherwise that's a great question I constantly throw this back and state what is it what does not need to be consisted of best and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 consumer's own in-country account so there's complexity wherever you look ideal ultimately building a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind 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 innovation is permitting us to sort of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is absolutely essential that payroll and finance teams work better together than ever um I'm constantly impressed when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to contribute to type of the level of intricacy there's increasingly more benefits being organ or being provided by services throughout the world so once again you're simply seeking to add a growing number of payments to this already complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real difficulties or real tough type of pay utilizes to play to pay people I think yeah I mean over the last well yeah a couple of decades I would absolutely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding info into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we run in they just make them more prompt they make them less effective and they don't make them what they require to be in in an era of tech and a period that you know that we are operating in today there is no reason that we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single most significant liability that any business has from an expense point of view from an impact point of view on workers it is definitely critical that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental effect on individuals's wellness and many other aspects if people aren't paid uh I have actually constantly been surprised coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only see when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's perceived externally too. Therefore, it is essential to guarantee that tasks like Wi-Fi Global and other important matters are done properly. Using the first Worldwide Payments very first payroll payment service is a terrific initial step towards providing a detailed payroll service for workers worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and savings account needed for international payroll are crucial factors in achieving organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as planned. Ultimately, we do not do it for the thankfulness.
anyhow we know how how essential 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 associated with those processes and also so envision sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and kind of shot to return to everybody so carrying on look why do business select to primary separate bank accounts there are organizations out there doing precisely this for specific countries and I've worked in a company or numerous services doing precisely that I can say it does not constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not developing additional work for any person where we do not need 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 factors one is it's the standard I believe individuals have got so utilized to we need a new checking account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I think this is a process that needs taking a look at it requires changing but ultimately individuals are very stuck with what they recognize
with ideal um modification is a challenging thing all of us do not like modification um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having maintaining several bank accounts however there's a huge quantity of intricacy goes with setting up a savings account preserving it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the complexity is huge but I believe the sincere response is modification um individuals have not had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century or so there is a lot to keep an eye on and this approach does position a number of obstacles um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I just 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 should have a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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