Find out more about Cost-saving Hr Compliance With Papaya Global ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and secure and dependable technique of paying to our 10,000 workers worldwide.}
The innovative worldwide payroll management app streamlines my payroll procedure, conserving me a substantial amount of time each month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Employee Website supplies workers with the capability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to international employees despite the number of staff members in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source local advantages companies in every country, produce regional accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work costs dispersed per area, overall work expenses per cycle and far more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business managing and building external relationships supporting Business clients and solutions as well as serving as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We focus on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and decided to sort of make a real go at that over the last five or six years where I have actually sort of had a variety of various roles on the company side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I actually 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 drizzling here it's very very bleak and I wish I was elsewhere at this moment in time alright so let's get started 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 different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially beneficial for international companies with dispersed and remote labor forces, as it simplifies the complicated 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 option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic asset for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex difficulty for companies running worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to optimize working capital, and discover how streamlining worldwide payroll payments can transform them from a difficult task into a tactical possession.
Handling payroll globally is a daunting job due to different policies, compliance requirements, data security issues, and banking rules. The large variety of workers and services adds to the complexity, with an approximated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often lead to manual procedures, data silos, and an absence of integration, resulting in disparities and inadequacies. Regardless of residing in an era of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to supply insights and solutions to simplify and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more a business spends on global payroll the less of a picture they see an absence of presence likewise reaches payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal almost half of global services have revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes badly interacted hires and terminations along with absence 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 cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they count on the required multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're paying to staff members or otherwise that's a great question I constantly throw this back and say what is it what does not need to be included right and what does
it need to be thought about 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 abilities 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 eventually constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and technology is allowing us to kind of move on with that it likewise too to add to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is definitely essential that payroll and financing groups work better together than ever um I'm constantly surprised when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation 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 typically 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 but also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high value on wellness and the compensation landscape is becoming increasingly intricate. Organizations are continuously presenting new advantages and payment options, which contributes to the total intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can cause inefficiencies and bottlenecks. In my viewpoint, this does not need to be the case. In today's highly sophisticated era, there's no validation for preserving cumbersome treatments. Payroll, the business's greatest expenditure, must be processed properly and on time. Even small hold-ups can adversely affect workers' well-being and have significant consequences. Therefore, it's important to focus on precise and timely payments.
payroll group get um so I'm not exactly sure anyone on this type of webinar has 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 ultimately payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe 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 absolutely essential that all of this stuff is done properly so leveraging the very first International Payments first payroll payment solution is a great primary step um providing an end-to-end payroll solution for your employees globally again I think is another big um procedure once again lining up and ensuring you have standardization Global procedures all of those things are definitely crucial to success success of organizations and reducing the number of tools platforms and bank accounts they require for their Worldwide 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've never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 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 don't think any of us are in fact doing that for for the thanks
anyhow we understand how how important 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 easy as possible for everyone that's associated with those procedures and likewise so picture sorry I'm simply I was just gon na say think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions envision getting that many 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 trying 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 sort of try to return to everyone so carrying on appearance why do business select to primary separate checking account there are companies out there doing exactly this for specific nations and I've worked in a company or many businesses doing precisely that I can state it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not creating additional work for anybody where we don't have to and any person that's handling 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 think lots of factors one is it's the requirement I think people have got so used to we need a brand-new bank account we open an entity and appropriately so you require 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 standard and the standard the people have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I believe this is a process that needs taking a look at it requires altering but ultimately people are very stuck with what they recognize
with ideal um modification is a challenging thing we all don't like modification um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having preserving multiple bank accounts however there's a huge quantity of intricacy opts for establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private people so the complexity is substantial but I believe the truthful response is change um individuals have not had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I think it is understanding you know and there is a component of resistance to alter but we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could practically be figured out to be the next Century approximately there is a lot to keep track of and this technique does pose several obstacles um so Johnny could you inform us about those challenges yeah obviously so there's a range right there is so
I simply 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 International workers you deserve a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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