Find out more about Papaya Global Hr Software For Cost Reduction ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a secure and trusted approach of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll process, conserving me a significant amount of time every month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Employee Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to global staff members no matter the number of staff members in the business. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source regional advantages service providers in every country, develop regional accounts and have a minimum variety of employees.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, overall employment expenses dispersed per place, overall employment expenses per cycle and far more.
environments around the world I offered management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business managing and building external relationships supporting Business customers and solutions along with serving as a consultant for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of different roles on the company side and also on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone 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 certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely really gloomy and I want I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is particularly beneficial for international organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in adequate in one country however when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of reasons most importantly policies compliance data security and banking rules then there are the large numbers they add more intricacy the global Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll design there's typically a frustrating variety of different systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in big amounts and or very really standard there's no real consistency framework we're residing in a period of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind every time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more a service invests in international payroll the less of a photo they see a lack of exposure likewise reaches payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of global companies have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors badly communicated hires and terminations in addition to absence management and system setups and after that when you round all of it off and the information is delivered to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they count on the required numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges company face when they're paying to employees or otherwise that's a great question I always throw this back and say what is it what does not require to be consisted of ideal and what does
it require to be thought of 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 capabilities 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 complexity any place you look best ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to sort of progress with that it likewise also to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely important that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals state I've split 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 a market accept that why our payroll and payments so frequently 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 but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to contribute to type of the level of complexity there's more and more advantages being organ or being used by businesses throughout the world so once again you're simply looking to include more and more payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real challenges or genuine tough kind of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would absolutely state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding info 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 doesn't always require to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we run in they simply make them more timely they make them less effective and they don't make them what they need to be in in an age of tech and an age that you understand that we are working in today there is no reason we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single greatest liability that any company has from an expense viewpoint from an impact point of view on employees it is absolutely crucial that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the most significant detrimental result on individuals's wellness and numerous other factors if individuals aren't paid uh I've always been impressed entering into this Market type of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just discover when things go wrong. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's perceived externally also. Therefore, it is important to guarantee that jobs like Wi-Fi International and other essential matters are done properly. Utilizing the first Global Payments first payroll payment option is a great preliminary step towards supplying a thorough payroll option for workers worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and bank accounts needed for worldwide payroll are essential consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things don't go as planned. Ultimately, we do not do it for the appreciation.
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 associated with those processes and also so think of sorry I'm just I was simply gon na say envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions imagine 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 definitely be a fascinating task attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and type of shot to get back to everybody so carrying on appearance why do companies select to main separate bank accounts there are services out there doing precisely this for particular nations and I have actually operated in a company or many companies doing exactly that I can state it doesn't always feel efficient and it does develop more work I understand we're not purposely doing that we're not creating additional work for any person where we do not have to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I believe individuals have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I believe this is a process that requires looking at it requires altering however ultimately individuals are really stuck to what they're familiar
with ideal um modification is a tough thing all of us don't like change um so I think it's just kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having keeping several checking account however there's a big quantity of intricacy opts for establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is substantial but I believe the sincere response is change um individuals have not been able to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I think it is understanding you know and there is a component of resistance to alter however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to monitor and this approach does posture numerous obstacles um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you deserve a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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