Find out more about Papaya Global Hr Software For High Compliance Businesses ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and reputable technique of paying to our 10,000 employees worldwide.}
The advanced global payroll management app streamlines my payroll procedure, conserving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
The Employee Portal provides workers with the ability to access and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global assists business offer competitive benefits plans to worldwide employees no matter the number of workers in the business. The business can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional advantages providers in every nation, create regional accounts and have a minimum variety of staff members.
The HR abilities provided by International HR incorporate various functions such as keeping track of holiday time, making sure compliance, facilitating the process of inviting new employees and bidding farewell to departing ones, providing a secure online platform for saving employees' files, and offering support for work allow treatments in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall employment costs distributed per place, total employment costs per cycle and much more.
environments around the world I provided leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business managing and structure external relationships supporting Business clients and solutions in addition to serving as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I have actually sort of had a variety of different roles on the company side and likewise on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone comes 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 raining here it's really extremely dreary and I want I was somewhere else at this moment in time fine so let's begin 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 business preserve different
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of preserving separate savings account 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 offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll checking account how companies properly forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of factors most importantly guidelines compliance information security and banking guidelines then there are the large numbers they add additional complexity the international Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the standard payroll model there's frequently a frustrating number of different systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or extremely really standard there's no real consistency structure we're residing in a period of tech but payroll has actually 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 just blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a business spends on global payroll the less of a photo they see an absence of exposure likewise reaches payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide services have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes improperly communicated hires and terminations along with lack management and system configurations and then when you round it all off and the information is delivered to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they count on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's an excellent concern I constantly throw this back and state what is it what doesn't require to be consisted of right and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 consumer's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble extremely payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is permitting us to sort of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work closer together than ever um I'm constantly astonished when individuals state I've split 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 divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically 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 individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on well-being and the payment landscape is becoming increasingly elaborate. Businesses are constantly introducing new benefits and payment options, which adds to the general intricacy. Big corporations often divide their payroll and payment processing into different groups, which can cause ineffectiveness and bottlenecks. In my opinion, this does not have to be the case. In today's highly innovative age, there's no validation for preserving cumbersome procedures. Payroll, the company's greatest expenditure, should be processed correctly and on time. Even small delays can adversely impact workers' well-being and have significant repercussions. For that reason, it's critical to prioritize accurate and timely payments.
payroll team get um so I'm unsure anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle we all 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 view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this things is done correctly so leveraging the first International Payments very first payroll payment option is an excellent first step um offering an end-to-end payroll solution for your staff members globally once again I believe is another big um process again lining up and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of companies and decreasing the number of tools platforms and bank accounts they require 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 ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone rather where they're implied to be um I do not think any of us are really doing that for for the thanks
anyway we understand how how crucial a role it is which'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 envision sorry I'm just I was just gon na state imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job attempting to clean up 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 try to browse them and in fact see what was going on and kind of shot to return to everybody so proceeding appearance why do companies select to main different bank accounts there are companies out there doing precisely this for specific nations and I have actually operated in a service or numerous services doing precisely that I can say it doesn't constantly feel effective and it does produce more work I know we're not purposely doing that we're not developing extra work for any person where we don't need to and anyone that's handling that process 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 reasons one is it's the standard I believe individuals have actually got so used to we need a new savings account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals 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 lots of other ways um to to type of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs changing but ultimately people are very stuck to what they recognize
with best um change is a challenging thing all of us don't like modification um so I think it's just type 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 benefits of having keeping multiple bank accounts however there's a big amount of intricacy goes with setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for specific individuals so the intricacy is substantial however I believe the honest answer is modification um individuals haven't been able to change or have not had always the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter however we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could practically be figured out to be the next Century or so there is a lot to track and this technique does pose several difficulties um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I just did you changed our Business 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 employees you deserve a corner workplace with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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