Find out more about Papaya Global Hr Software For Budget ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and trusted approach of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Worker Website supplies employees with the ability to access and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to global workers despite the variety of workers in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source local advantages suppliers in every nation, produce local accounts and have a minimum number of staff members.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, overall employment costs distributed per location, total work expenses per cycle and much more.
environments around the world I offered management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business managing and structure external relationships supporting Business clients and options in addition to acting as an advisor for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
As an international business, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's a pleasure to satisfy 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 focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually sort of had a range of different functions on the company side and also on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite intriguing 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 truly 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 raining here it's very very dreary and I wish I was somewhere else at this moment in time all right 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 separate
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of keeping separate savings account for payroll in different countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and timely payroll payments is a complex difficulty for services running worldwide. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to optimize working capital, and discover how simplifying global payroll payments can change them from a difficult task into a strategic asset.
Handling payroll worldwide is a daunting job due to numerous guidelines, compliance requirements, data security issues, and banking rules. The sheer variety of employees and organizations adds to the complexity, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual processes, data silos, and a lack of combination, causing disparities and inefficiencies. Regardless of residing in an age of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to supply insights and options to streamline and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more a service invests in international payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of international companies have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes poorly interacted hires and terminations as well as absence management and system configurations and after that when you round it all off and the information is shipped to the incorrect location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they count on the needed several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties service face when they're making payments to employees or otherwise that's a good concern I always toss this back and say what is it what does not need to be consisted of right and what does
it need 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 time frames 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 right eventually constructing a knowledge base is definitely vital however everywhere you look with payroll payment they are like very payments no if but some infants 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 acknowledgment that payroll payments are absolutely essential and innovation is enabling us to kind of progress with that it also also to add to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely vital that payroll and finance groups work better together than ever um I'm always amazed when people say I have actually divided payroll and payment um if you walk 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 information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of essential to contribute to kind of the level of complexity there's increasingly more advantages being organ or being offered by services throughout the world so once again you're just wanting to add increasingly more payments to this already complex landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine difficulties or genuine challenging type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of decades I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding details into the next function as it were that's really managing the payment side of things however you understand in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to create extra handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they don't make them what they require to be in in a period of tech and a period that you know that we are operating in today there is no reason that we are still making this as difficult as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any organization has from a cost viewpoint from an effect point of view on employees it is definitely vital 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 biggest detrimental result on individuals's well-being and numerous other factors if people aren't paid uh I've constantly been astonished coming into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this things is done properly so leveraging the very first International Payments first payroll payment option is an excellent first step um supplying an end-to-end payroll option for your workers internationally once again I believe is another substantial um process again aligning and ensuring you have standardization Global processes all of those things are absolutely key to success success of services and lowering the number of tools platforms and bank accounts 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 have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyway 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 also so picture sorry I'm just I was just gon na say think of the amount 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 hundreds of thousands possibly Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job attempting to clean up all those up for sure oh absolutely 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 attempt to check out them and really see what was going on and sort of try to get back to everybody so proceeding look why do business select to primary separate bank accounts there are businesses out there doing precisely this for particular nations and I've operated in an organization or many organizations doing exactly that I can say it does not constantly feel efficient and it does create more work I understand we're not purposely doing that we're not producing additional work for any person where we don't have to and any person that's handling 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 amount that we are I believe lots of factors one is it's the standard I believe individuals have actually got so used to we need a new checking account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I think this is a procedure that needs looking at it requires changing but ultimately individuals are extremely stuck to what they're familiar
with ideal um change is a hard thing we all do not like modification um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having maintaining several bank accounts however there's a huge quantity of intricacy chooses establishing a savings account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for private people so the complexity is huge however I think the sincere answer is modification um people haven't been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century approximately there is a lot to track and this method does present several challenges um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this improved ability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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