Find out more about Papaya Global Hr Software For Cost-saving Compliance ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a secure and trustworthy technique of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Employee Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and work files. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive benefits bundles to worldwide staff members despite the number of employees in the company. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source regional benefits suppliers in every country, create regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work expenses dispersed per location, overall work costs per cycle and much more.
Globally, I have actually demonstrated leadership and strategic competence in directing massive populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for overseeing payroll strategies, as discussed by Mark. My function involves handling and developing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian pointed out, 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 7 years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually type of had a variety of different roles on the supplier side and likewise on the supplier side from a payroll point of view so really anticipating this discussion 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 nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually 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 very very dreary and I wish I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business maintain separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic 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 precise, effective, and prompt payroll payments is a complex obstacle for companies running globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to optimize working capital, and discover how simplifying global payroll payments can transform them from a troublesome job into a strategic property.
Handling payroll globally is a daunting task due to various guidelines, compliance requirements, data security issues, and banking guidelines. The large number of employees and organizations adds to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual procedures, information silos, and an absence of combination, resulting in disparities and ineffectiveness. Despite living in a period of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to provide insights and services to streamline and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that provides me sleepless nights and rather frankly the more an organization spends on international payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide 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 information data entry mistakes poorly 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 shipped to the incorrect place the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they rely on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they're making payments 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 ideal and what does
it need to be thought about there's varying 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 have to pay from the customer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is absolutely important but all over you look with payroll payment they are like super payments no if however some children 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 believe there's now a bit more recognition that payroll payments are absolutely basic and technology is permitting us to sort of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is absolutely important that payroll and financing teams work more detailed together than ever um I'm always impressed when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high worth on wellness and the settlement landscape is becoming increasingly intricate. Services are continuously presenting brand-new advantages and payment options, which contributes to the general intricacy. Big corporations often divide their payroll and payment processing into separate groups, which can result in inadequacies and bottlenecks. In my opinion, this doesn't have to be the case. In today's technologically innovative period, there's no justification for maintaining troublesome procedures. Payroll, the business's greatest expense, should be processed properly and on time. Even slight delays can negatively impact workers' well-being and have significant effects. Therefore, it's vital to focus on precise and prompt payments.
payroll group get um so I'm not sure anyone on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an essential cycle all of us hear about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done correctly so leveraging the very first International Payments first payroll payment service is an excellent first step um supplying an end-to-end payroll service for your workers globally again I believe is another substantial um process once again aligning and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of organizations and minimizing the variety of tools platforms and bank accounts they need for their Worldwide 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 10 or whatever it might be with the with the the problems where things have not gone quite where they're meant to be um I do not believe any of us are in fact 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 involved in those processes and also so think of sorry I'm simply I was just gon na state picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions envision getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and really see what was going on and sort of try to return to everybody so moving on look why do companies select to main separate savings account there are businesses out there doing exactly this for particular nations and I've worked in a service or many services doing precisely that I can say it does not always feel efficient and it does create more work I understand we're not purposely doing that we're not creating additional work for anyone where we do not need to and any person that's dealing with 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 many reasons one is it's the requirement I think people have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I think this is a process that requires looking at it requires changing however ultimately individuals are really stuck to what they recognize
with right um modification is a hard thing we all don't like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having maintaining multiple bank accounts but there's a substantial quantity of intricacy goes with setting up a bank account keeping it ensuring it can send International transfers ensuring it's established with the best user accesses for specific people so the complexity is huge however I think the sincere response is modification um people have not had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I think it is understanding you understand and there is an element of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century or so there is a lot to keep an eye on and this approach does position a number of difficulties um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I recently made a modification to our Enterprise 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 acquired another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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