Find out more about Papaya Global Australia ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to managing payments. This provides us with a protected and reliable technique of making payments to our 10,000 employees worldwide.}
The innovative worldwide payroll management app improves my payroll process, conserving me a significant quantity of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
Worker Portal
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive benefits plans to worldwide employees despite the variety of staff members in the business. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local benefits companies in every nation, produce local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall employment expenses distributed per area, overall work expenses per cycle and a lot more.
Internationally, I have demonstrated leadership and tactical knowledge in directing large-scale populations of over 100,000 workers throughout 170 nations. Currently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My function includes handling and establishing external collaborations, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
business to make the time 100 list for the majority of influential companies in the world we offer payroll payments and workforce management to all staff member types in over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon excellent evening depending upon where you remain in the world it's lovely to satisfy you and thank you quite 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 industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually type of had a range of various functions on the supplier side and also on the vendor side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or two 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 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 originates from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely dreary and I want I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies preserve separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly helpful for global companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex difficulty for organizations running worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to enhance working capital, and find how streamlining international payroll payments can change them from a burdensome job into a strategic possession.
Managing payroll internationally is an overwhelming task due to numerous regulations, compliance requirements, data security issues, and banking guidelines. The sheer number of employees and services adds to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and a lack of combination, causing inconsistencies and inadequacies. In spite of living in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to provide insights and services to streamline and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization spends on international payroll the less of an image they see a lack of visibility likewise extends to payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal almost half of worldwide organizations have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors poorly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the information is shipped to the wrong place the average 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 around the world payroll and payments don't run efficiently if they depend on the essential several procedures 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 difficulties business face when they're paying to employees or otherwise that's a great question I constantly throw this back and say what is it what does not need to be included best and what does
it require to be thought about 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 capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy wherever you look ideal eventually constructing a knowledge base is absolutely critical but all over you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link 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 innovation is enabling us to kind of progress with that it also also to contribute to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely essential that payroll and finance teams work better together than ever um I'm constantly impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not 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 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 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 more and more essential to contribute to type of the level of complexity there's more and more benefits being organ or being used by businesses throughout the world so again you're simply wanting to add more and more payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real obstacles or real tough kind of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of decades I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding details into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to produce extra handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason why we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any business has from an expense point of view from an impact viewpoint on employees it is absolutely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest destructive impact on people's well-being and lots of other aspects if individuals aren't paid uh I have actually always been astonished coming into this Market type of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just discover when things go wrong. However, when things go right, it's seen as just a routine task. This is how it's perceived externally also. Therefore, it is vital to ensure that jobs like Wi-Fi Global and other important matters are done properly. Utilizing the very first International Payments first payroll payment solution is a great initial step towards supplying an extensive payroll service for workers worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and checking account necessary for international payroll are key factors in achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things do not go as prepared. Eventually, we do not do it for the gratitude.
anyway we know how how crucial 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 easy as possible for everybody that's associated with those processes and also so imagine sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task attempting 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 browse them and in fact see what was going on and sort of shot to get back to everybody so proceeding look why do companies choose to main separate savings account there are services out there doing exactly this for particular countries and I have actually worked in a company or many companies doing exactly that I can say it doesn't always feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating extra work for any person where we do not have to and any person that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the requirement I think people have got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually adopted and continue to do over years and years passed by to add to that people 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 variety I think this is a process that requires taking a look at it needs changing however eventually individuals are very stuck with what they're familiar
with ideal um change is a challenging thing all of us don't like modification um so I think it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having maintaining multiple checking account but there's a huge quantity of intricacy opts for establishing a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is big however I think the truthful response is change um people haven't had the ability to alter or have not had always the knowledge to actually make that change into alternate Solutions other than opening a savings 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 change but 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 nearly be identified to be the next Century or two there is a lot to track and this method does present numerous obstacles um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I just recently made a change 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 actually gained another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your achievements.
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