Find out more about Papaya Global Competitors ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and secure and reputable method of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll procedure, conserving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Worker Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax statements and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive advantages bundles to international staff members regardless of the variety of workers in the company. The company can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, create regional accounts and have a minimum number of staff members.
The HR abilities supplied by International HR include different functions such as keeping track of getaway time, guaranteeing compliance, facilitating the process of inviting brand-new staff members and bidding goodbye to departing ones, using a safe and secure online platform for storing employees' files, and providing assistance for work allow procedures in case your staff members need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment expenses distributed per area, total employment expenses per cycle and a lot more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and building external relationships supporting Business customers and services as well as functioning as an advisor for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential companies on the planet we supply payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good evening depending on where you remain in the world it's beautiful to satisfy 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 market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I've type of had a range of different roles on the company side and likewise on the supplier side from a payroll point of view so really looking forward to this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just give everybody another number of uh well among 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 rather 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 everybody comes from and I really 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 raining here it's really extremely uninspiring and I wish I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business preserve separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining different checking account for payroll in different nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic asset 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 precise, efficient, and timely payroll payments is a complex difficulty for services operating globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, learn how business anticipate payroll costs to optimize working capital, and discover how improving global payroll payments can change them from a challenging job into a strategic property.
Managing payroll worldwide is a daunting job due to various policies, compliance requirements, data security concerns, and banking guidelines. The large number of employees and businesses contributes to the complexity, with an approximated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems often result in manual processes, data silos, and an absence of combination, leading to inconsistencies and inefficiencies. Regardless of residing in a period of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to supply insights and services to streamline and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization invests in international payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the deal nearly half of global services have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors poorly interacted hires and terminations in addition to absence management and system setups and after that when you round everything off and the information is shipped to the wrong location the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they count on the needed several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business face when they're making payments to staff members or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't need to be included best and what does
it require to be considered there's differing Bank information 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 have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy wherever you look ideal ultimately developing a knowledge base is absolutely vital but all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort 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 technology is allowing us to sort of progress with that it likewise too to add to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely essential that payroll and finance teams work closer together than ever um I'm always surprised when individuals 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 profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on wellness and the compensation landscape is ending up being increasingly intricate. Companies are continuously presenting new advantages and payment alternatives, which adds to the general complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't have to be the case. In today's technologically innovative period, there's no justification for keeping troublesome procedures. Payroll, the business's greatest cost, should be processed correctly and on time. Even minor delays can adversely affect workers' wellness and have significant consequences. Therefore, it's critical to prioritize precise and prompt payments.
payroll group get um so I'm unsure anybody on this kind of webinar has actually been told 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 a crucial cycle we all become aware of it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box workout 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 essential that all of this things is done properly so leveraging the very first International Payments very first payroll payment service is an excellent primary step um supplying an end-to-end payroll option for your employees worldwide again I think is another big um process again lining up and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of organizations and lowering the variety of tools platforms and savings account they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyhow we understand how how essential 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 everyone that's associated with those processes and also so picture sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and in fact see what was going on and kind of try to return to everyone so proceeding appearance why do companies pick to primary different checking account there are companies out there doing precisely this for particular nations and I've operated in a company or numerous services doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not developing additional work for anyone where we don't have to and anybody that's managing that procedure 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 think individuals have got so used to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I believe this is a process that requires taking a look at it needs altering however ultimately individuals are extremely stuck with what they're familiar
with best um change is a difficult thing all of us do not like change um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having preserving multiple checking account however there's a big amount of intricacy goes with establishing a checking account keeping it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual people so the intricacy is huge however I think the truthful answer is modification um individuals haven't been able to change or haven't had always the understanding to really make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century or so there is a lot to track and this method does posture a number of challenges um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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