Find out more about Budget Hr Compliance And Efficiency With Papaya Global ... 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 dedicated to handling payments. This offers us with a protected and dependable technique of paying to our 10,000 employees worldwide.}
The innovative global payroll management app improves my payroll procedure, conserving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
Employee Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax statements and work documents. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive advantages bundles to worldwide staff members regardless of the number of workers in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source local advantages service providers in every country, create local accounts and have a minimum variety of workers.
The HR abilities supplied by International HR include various functions such as keeping an eye on holiday time, guaranteeing compliance, facilitating the procedure of welcoming new workers and bidding goodbye to leaving ones, offering a safe online platform for keeping workers' files, and supplying support for work permit treatments in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work costs dispersed per area, overall work costs per cycle and a lot more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise customers and services along with acting as an advisor for those of you that don't understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for the majority of prominent business in the world we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good night depending on where you remain in the world it's charming to fulfill you and thank you very much 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 working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've sort of had a variety of different roles on the company side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds approximately 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 already simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very very dreary and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping different checking account for payroll in different countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to optimize working capital, and find how streamlining international payroll payments can change them from a difficult task into a tactical property.
Handling payroll internationally is a complicated job due to different policies, compliance requirements, information security concerns, and banking guidelines. The large number of employees and organizations adds to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems typically result in manual procedures, data silos, and an absence of integration, resulting in disparities and ineffectiveness. In spite of living in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to provide insights and options 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 only 11 of organizations say they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more an organization invests in global payroll the less of a photo they see an absence of exposure likewise reaches payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of international companies have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes inadequately interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they rely on the essential multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they're making payments to staff members or otherwise that's a great question I always throw this back and state what is it what doesn't require to be consisted of best and what does
it require to be considered there's differing Bank details 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 complexity any place you look ideal eventually building a knowledge base is absolutely important but everywhere you look with payroll payment they resemble incredibly payments no if however 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 basic and technology is enabling us to type of progress with that it also also to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely necessary that payroll and finance groups work better together than ever um I'm always surprised when people say I've divided payroll and payment um if you walk 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 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 wellness being increasingly more important to contribute to type of the level of intricacy there's increasingly more benefits being organ or being provided by organizations across the world so again you're just aiming to include a growing number of payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine challenging sort of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would certainly state that the bigger 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 teams feeding details into the next function as it were that's in fact managing the payment side of things however you know in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we need to produce additional handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and an age that you understand that we are working in today there is no reason that we are still making this as tough as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any business has from a cost point of view from an impact viewpoint on employees it is definitely vital that it's done correctly and on time so what we imply 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 impact on people's well-being and many other factors if individuals aren't paid uh I've constantly been astonished coming into this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anybody on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle we all hear about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done correctly so leveraging the first International Payments very first payroll payment option is an excellent first step um offering an end-to-end payroll option for your workers globally once again I think is another big um procedure once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of companies and lowering the variety of tools platforms and checking account they require for their Global 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 had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I don't believe any of us are really doing that for for the thanks
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 simple as possible for everyone that's involved in those procedures and likewise so think of sorry I'm just I was simply gon na state picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and in fact see what was going on and kind of try to get back to everybody so carrying on appearance why do business pick to primary separate savings account there are services out there doing exactly this for particular nations and I've worked in a service or numerous organizations doing precisely that I can say it doesn't always feel effective and it does create more work I understand we're not purposely doing that we're not producing extra work for anyone where we do not need to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe many reasons one is it's the requirement I think individuals have got so utilized to we require a brand-new bank account we open an entity and rightly so you need it for payroll purposes but 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 individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I think this is a process that requires taking a look at it requires altering but ultimately people are really stuck with what they're familiar
with right um change is a tough thing we all don't like change um so I believe it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having maintaining numerous savings account but there's a substantial quantity of intricacy goes with establishing a checking account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is big but I believe the honest response is modification um people have not had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we have actually 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 know what could almost be identified to be the next Century or two there is a lot to keep an eye on and this approach does pose numerous difficulties um so Johnny could you inform us about those difficulties yeah of course so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you are worthy of a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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