Find out more about Enhancing Hr Efficiency On A Budget With Papaya Global ... We now have the capability to handle 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 particularly committed to managing payments. This provides us with a safe and secure and trustworthy technique of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
Staff member Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and work documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive advantages packages to international staff members regardless of the number of workers in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source local benefits suppliers in every nation, create local accounts and have a minimum number of workers.
The HR capabilities provided by Worldwide HR include various functions such as monitoring getaway time, guaranteeing compliance, assisting in the process of welcoming new staff members and bidding farewell to departing ones, offering a protected online platform for storing workers' documents, and supplying assistance for work permit treatments in case your workers require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, overall employment costs distributed per place, total work costs per cycle and a lot more.
environments around the world I offered leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across the business managing and building external relationships supporting Business customers and solutions as well as acting as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential business worldwide we provide payroll payments and labor force management to all worker enters 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 naturally thank you good morning great afternoon good night depending on where you are 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 have actually been in the payments market for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I've kind of had a variety of different roles on the company side and likewise on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly 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 extremely extremely dreary and I wish I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why business preserve separate
Virtual payroll accounts are an alternative to traditional checking account for handling payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in sufficient in one country however when you're doing it globally it's next level and Beyond it ends up being complicated for a range of reasons most notably policies compliance data security and banking guidelines then there are the large numbers they include further intricacy the global Labor force is currently three 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 currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the globe in the conventional payroll model there's often a frustrating variety of various systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in big amounts and or really really basic there's no genuine consistency structure we're living in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more a service spends on worldwide payroll the less of an image they see a lack of visibility likewise extends to payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of worldwide organizations have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes poorly communicated hires and terminations as well as lack management and system setups and then when you round all of it off and the information is delivered to the incorrect place the typical cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they depend on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're making payments to staff members or otherwise that's a great concern I always throw this back and say what is it what does not need to be consisted of right and what does
it require 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 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 wherever you look ideal eventually building a knowledge base is definitely crucial but all over you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind 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 basic and technology is permitting us to type of progress with that it also too to add to that payroll and financing require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely essential that payroll and financing groups work more detailed together than ever um I'm always impressed when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation 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 individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more essential to add to kind of the level of intricacy there's increasingly more advantages being organ or being provided by services across the world so once again you're just seeking to include more and more payments to this already complex landscape so if you type of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine difficulties or genuine tough sort of pay uses to play to pay people I believe yeah I indicate over the last well yeah a number of years I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to develop additional handoffs in the processes that we run in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason that we are still making this as difficult as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any service has from a cost viewpoint from an impact point of view on workers it is absolutely vital 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 need to be done right it has the biggest detrimental effect on people's wellness and lots of other aspects if people aren't paid uh I have actually always been impressed entering into this Market type of the last 5 to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just observe when things go wrong. However, when things go right, it's seen as simply a routine task. This is how it's viewed externally too. For that reason, it is vital to ensure that jobs like Wi-Fi Global and other important matters are done properly. Using the first Global Payments first payroll payment option is a terrific initial step towards offering an extensive payroll solution for staff members worldwide. Standardization, international processes, and reducing the number of tools, platforms, and checking account needed for global payroll are essential consider achieving organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as prepared. Eventually, we do not do it for the gratitude.
anyhow we know 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 easy as possible for everybody that's involved in those processes and likewise so picture sorry I'm simply I was simply gon na say envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that lots of 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 certainly be an intriguing 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 was the case um you 'd need days of the week to try to check out them and in fact see what was going on and sort of try to get back to everybody so moving on appearance why do companies select to primary different bank accounts there are services out there doing precisely this for particular countries and I've worked in an organization or many services doing precisely that I can state it does not constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anyone where we do not have to and any person that's dealing with 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 quantity that we are I believe lots of factors one is it's the standard I believe people have got so utilized to we require a brand-new savings 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 individuals have adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I think this is a process that needs taking a look at it requires changing but ultimately people are really stuck with what they're familiar
with right um modification is a tough thing we all do not like modification um so I think it's just sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having preserving multiple savings account but there's a huge amount of complexity opts for setting up a bank account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for private individuals so the complexity is big however I believe the honest answer is change um people haven't had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is an element of resistance to alter however we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to keep track of and this method does pose several difficulties um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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