Find out more about Affordable And Efficient Hr Compliance With Papaya Global ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and dependable technique of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
The Staff member Website supplies employees with the ability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global helps business offer competitive advantages plans to worldwide staff members regardless of the number of staff members in the business. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits companies in every nation, create regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total work costs distributed per place, overall employment costs per cycle and far more.
Worldwide, I have shown leadership and tactical know-how in directing massive populations of over 100,000 staff members across 170 nations. Currently, I am responsible for supervising payroll strategies, as discussed by Mark. My function involves managing and developing external partnerships, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for most influential business on the planet we supply payroll payments and labor force management to all worker enters 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 introduce yourself of course thank you good morning excellent afternoon good night depending on where you are 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 been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've type of had a range of various roles on the provider side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really 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 really gloomy and I want I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why business maintain separate
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is particularly helpful for global companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex obstacle for organizations running internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to optimize working capital, and discover how enhancing worldwide payroll payments can change them from a troublesome task into a strategic asset.
Handling payroll worldwide is a challenging job due to different regulations, compliance requirements, data security issues, and banking rules. The large variety of workers and businesses contributes to the intricacy, with an estimated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems often lead to manual processes, data silos, and an absence of combination, resulting in disparities and inefficiencies. In spite of residing in an era 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 goals to supply insights and solutions to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a business spends on global payroll the less of an image they see an absence of exposure likewise extends to payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of international services have actually revealed 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 due to time reporting poor HCM information information entry errors poorly interacted hires and terminations along with lack management and system setups and after that when you round it all off and the information is shipped to the incorrect place the typical 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 don't run smoothly if they rely on the needed several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles organization face when they're paying to staff members or otherwise that's a great concern I always toss this back and state what is it what does not require to be consisted of ideal and what does
it need to be considered there's varying Bank information 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 have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is definitely vital but all over 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 think there's now a bit more recognition that payroll payments are definitely fundamental and technology is permitting us to kind of move forward with that it likewise too to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely imperative that payroll and finance teams work closer together than ever um I'm always astonished when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split 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 wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on well-being and the compensation landscape is becoming significantly detailed. Organizations are continuously presenting brand-new advantages and payment options, which contributes to the general intricacy. Large corporations often divide their payroll and payment processing into separate groups, which can result in ineffectiveness and bottlenecks. In my viewpoint, this does not have to hold true. In today's technically sophisticated era, there's no validation for keeping troublesome treatments. Payroll, the business's most significant expense, must be processed properly and on time. Even minor delays can adversely impact staff members' wellness and have far-reaching repercussions. For that reason, it's important to prioritize accurate and prompt payments.
payroll group get um so I'm not sure anybody on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle all of us hear about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done properly so leveraging the very first Global Payments very first payroll payment solution is an excellent first step um offering an end-to-end payroll solution for your staff members internationally again I think is another substantial um process once again lining up and ensuring you have standardization Global processes all of those things are definitely essential to success success of organizations and minimizing the number of tools platforms and bank accounts they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of 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 complaints where things haven't gone rather where they're suggested to be um I don't think any of us are actually doing that for for the thanks
anyway we know how how crucial 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 involved in those processes and also so picture sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and really see what was going on and kind of shot to get back to everybody so carrying on appearance why do business select to primary separate savings account there are companies out there doing exactly this for particular nations and I have actually worked in an organization or many services doing precisely that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not developing additional work for anyone where we don't 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 believe numerous factors one is it's the standard I believe individuals have actually got so used to we require a new savings 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 believe it's just been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I think this is a process that needs taking a look at it requires altering however eventually individuals are very stuck to what they recognize
with right um modification is a difficult thing we all don't like change um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having keeping numerous bank accounts however there's a big amount of complexity goes with setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is big however I believe the sincere answer is change um people have not had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what might almost be identified to be the next Century or so there is a lot to monitor and this approach does pose several difficulties um so Johnny could you tell us about those challenges yeah obviously so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is closer, considering your achievements.
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