Find out more about Efficient And Affordable Compliance With Papaya Global Hr Software ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to handling payments. This provides us with a safe and secure and reputable approach of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, conserving me a considerable amount of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Staff member Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and work files. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive advantages packages to global workers no matter the number of employees in the company. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source local benefits service providers in every nation, produce local accounts and have a minimum variety of staff members.
The HR abilities supplied by Global HR include numerous functions such as keeping track of trip time, guaranteeing compliance, assisting in the procedure of inviting new workers and bidding farewell to leaving ones, offering a secure online platform for storing employees' documents, and supplying assistance for work permit treatments in case your workers need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total employment expenses distributed per place, overall employment costs per cycle and far more.
Internationally, I have actually shown management and tactical know-how in directing large-scale populations of over 100,000 employees across 170 countries. Currently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function includes managing and developing external collaborations, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for most prominent business on the planet we provide payroll payments and labor force management to all staff member 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 obviously thank you good morning excellent afternoon excellent night depending upon where you remain in the world it's charming to meet 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've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the complexity the problem 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 type of had a range of various roles on the supplier side and also on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very really uninspiring and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic possession uh we'll also discuss a wrap-up which must leave his time at the extremely very 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 Worldwide workforces end up being increasingly more common and handling them becomes increasingly more complex Worldwide organizations are looking to find Solutions and brand-new methods to enhance procedures especially from a payroll and cross-border payment standpoint many companies keep different checking account just for payroll while some have several accounts in various nations does it make good sense for business to maintain separate savings account in some cases in different nations it does but just for payroll is there a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international business improve the episode complex procedures of
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly forecast their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in adequate in one country however when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of factors most importantly regulations compliance information security and banking guidelines then there are the large numbers they include more intricacy the global Workforce is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll design there's frequently a frustrating number of various systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in large amounts and or really extremely fundamental there's no real consistency structure we're residing in a period of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind whenever I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on global payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of international organizations have actually 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 information information entry errors poorly communicated hires and terminations in addition to lack management and system setups and then when you round it all off and the information is shipped to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they count on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're making payments to staff members or otherwise that's a good concern I constantly throw this back and say what is it what does not require to be included best and what does
it need to be thought of there's differing Bank details 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 consumer's own in-country account so there's intricacy anywhere you look best ultimately building a knowledge base is absolutely important but everywhere you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to kind of progress with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely imperative that payroll and financing groups work more detailed together than ever um I'm constantly impressed when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on well-being and the compensation landscape is ending up being increasingly detailed. Companies are constantly introducing brand-new advantages and payment alternatives, which contributes to the overall intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can result in inadequacies and traffic jams. In my viewpoint, this does not have to hold true. In today's technically sophisticated age, there's no validation for maintaining troublesome treatments. Payroll, the business's biggest expenditure, should be processed properly and on time. Even minor delays can negatively impact employees' well-being and have far-reaching effects. For that reason, it's vital to focus on accurate and prompt payments.
payroll group get um so I'm unsure anyone on this type of webinar has been informed 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 workers or not um but ultimately payroll is such an important cycle all of us hear about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely important that all of this things is done correctly so leveraging the very first Global Payments first payroll payment solution is an excellent first step um offering an end-to-end payroll service for your staff members internationally again I think is another substantial um procedure again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely key to success success of businesses and lowering the variety of tools platforms and bank accounts they require for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather 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 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 everybody that's involved in those processes and likewise so imagine sorry I'm simply 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 certain we're discussing numerous thousands potentially Millions envision getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and really see what was going on and sort of shot to return to everyone so moving on appearance why do business pick to main different savings account there are businesses out there doing precisely this for particular countries and I have actually worked in a service or numerous organizations doing precisely that I can state it doesn't constantly feel efficient and it does create more work I know we're not intentionally doing that we're not producing extra work for anybody where we don't have to and anybody that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many reasons 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 rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires changing however ultimately individuals are extremely stuck with what they're familiar
with right um change is a difficult thing all of us don't like modification um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having keeping multiple bank accounts but there's a substantial amount of intricacy chooses establishing a savings account keeping it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for individual people so the complexity is huge but I think the truthful answer is modification um people have not been able to change or have not had always the understanding to actually make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century approximately there is a lot to keep track of and this approach does position a number of obstacles um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your achievements.
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