Find out more about Maximize Hr Efficiency Affordably With Papaya Global ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and reputable approach of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Employee Website
Workers have access to an Employee Portal where they can view 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.
Benefits Administration
Papaya Global assists business provide competitive advantages packages to global staff members regardless of the number of staff members in the company. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source regional benefits providers in every country, develop regional accounts and have a minimum variety of staff members.
The HR abilities supplied by Worldwide HR encompass numerous functions such as keeping track of vacation time, ensuring compliance, facilitating the procedure of inviting brand-new employees and bidding farewell to departing ones, providing a secure online platform for storing employees' files, and supplying support for work allow treatments in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall work costs distributed per location, total work expenses per cycle and far more.
Internationally, I have shown management and tactical expertise in directing massive populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We focus on providing payroll and labor force management services to employees 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, despite your area. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and obstacles of this field have actually always mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually type of had a range of different functions on the provider side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very very gloomy and I wish I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex challenge for companies running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, discover how companies forecast payroll costs to enhance working capital, and find how simplifying global payroll payments can change them from a difficult job into a strategic property.
Managing payroll internationally is a complicated job due to numerous regulations, compliance requirements, data security issues, and banking guidelines. The sheer number of staff members and organizations adds to the intricacy, with an approximated 3.5 billion individuals in the global workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and a lack of combination, leading to disparities and inadequacies. In spite of residing in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to offer insights and solutions to simplify and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a business spends on worldwide payroll the less of an image they see a lack of visibility also extends to payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of international services have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors improperly interacted hires and terminations in addition to absence management and system configurations and after that when you round everything off and the data is delivered to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they rely on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges organization face when they're paying to employees or otherwise that's an excellent question I always throw this back and state what is it what does not require to be consisted of ideal and what does
it require to be thought of there's varying 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 abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like super payments no if however some babies 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 acknowledgment that payroll payments are absolutely basic and technology is allowing us to sort of move forward with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely essential that payroll and financing groups work more detailed together than ever um I'm constantly surprised when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from computation 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 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 however also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on well-being and the settlement landscape is becoming increasingly detailed. Organizations are continually presenting brand-new benefits and payment alternatives, which contributes to the overall complexity. Big corporations frequently divide their payroll and payment processing into separate teams, which can result in inadequacies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technically advanced era, there's no reason for maintaining cumbersome treatments. Payroll, the business's biggest cost, need to be processed correctly and on time. Even small hold-ups can negatively impact employees' well-being and have far-reaching effects. Therefore, it's important to focus on accurate and prompt payments.
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just discover when things go wrong. However, when things go right, it's viewed as simply a routine task. This is how it's viewed externally also. For that reason, it is essential to ensure that tasks like Wi-Fi International and other essential matters are done properly. Utilizing the very first Global Payments very first payroll payment solution is a fantastic initial step towards providing a comprehensive payroll solution for employees worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and bank accounts needed for global payroll are crucial factors in achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things don't go as prepared. Eventually, we do not do it for the thankfulness.
anyhow we know how how crucial a role 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 everybody that's involved in those procedures and also so envision sorry I'm simply I was just gon na say imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing task attempting to clean 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 require days of the week to try to check out them and really see what was going on and kind of shot to return to everybody so moving on look why do business choose to primary different bank accounts there are companies out there doing precisely this for particular countries and I have actually operated in an organization or numerous businesses doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not producing additional work for anyone where we do not have to and anyone 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 requirement I think individuals have got so utilized to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I believe this is a process that requires looking at it needs altering but ultimately individuals are extremely stuck to what they recognize
with best um change is a tough thing we all don't like change um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having maintaining numerous savings account but there's a substantial quantity of complexity goes with setting up a savings account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual individuals so the complexity is big but I think the honest answer is change um individuals have not had the ability to change or have not had always the knowledge to really make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to change however we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century or so there is a lot to track and this technique does present several obstacles um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I just did you changed our Business 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 Global employees you are worthy of a corner workplace with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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