Find out more about Papaya Global Hr Software For Small Businesses ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly dedicated to managing payments. This supplies us with a safe and dependable approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and contractors
Staff member Website
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to international workers despite the variety of employees in the company. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source local advantages service providers in every nation, develop local accounts and have a minimum variety of employees.
The HR abilities supplied by Global HR include numerous functions such as monitoring getaway time, making sure compliance, assisting in the procedure of inviting new workers and bidding farewell to leaving ones, using a secure online platform for storing employees' documents, and supplying support for work permit procedures in case your staff members require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall employment expenses dispersed per location, total employment expenses per cycle and far more.
Globally, I have shown leadership and tactical knowledge in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for overseeing payroll methods, as discussed by Mark. My role includes managing and developing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
company to make the time 100 list for most prominent companies worldwide we offer payroll payments and workforce management to all staff member types in over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon good night depending upon where you are in the world it's charming to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually sort of had a range of various functions on the supplier 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 quite for your time everyone fine thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely very bleak and I wish I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is particularly useful for worldwide organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different savings account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for organizations operating internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, discover how business anticipate payroll expenses to enhance working capital, and discover how streamlining global payroll payments can transform them from a burdensome job into a strategic asset.
Managing payroll internationally is a complicated job due to various guidelines, compliance requirements, data security concerns, and banking guidelines. The large variety of employees and organizations adds to the intricacy, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual processes, data silos, and a lack of combination, resulting in inconsistencies and ineffectiveness. Regardless of living in an era of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to offer insights and options to simplify and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization invests in international payroll the less of a photo they see an absence of visibility also encompasses payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international organizations have actually revealed 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 because of time reporting poor HCM data information entry mistakes inadequately communicated hires and terminations along with lack management and system setups and then when you round everything off and the information is shipped to the wrong place the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments do not run efficiently if they count on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're making payments to staff members or otherwise that's a good concern I constantly throw this back and state what is it what does not need to be included best and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 need to pay from the customer's own in-country account so there's intricacy any place you look right eventually constructing a knowledge base is definitely crucial however all over you look with payroll payment they resemble incredibly payments no if however 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 allowing us to type of progress with that it likewise as well to add to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely important that payroll and financing groups work closer together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often 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 any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of crucial to add to sort of the level of complexity there's more and more benefits being organ or being offered by services throughout the world so once again you're simply aiming to add more and more payments to this already complex landscape so if you sort of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of real obstacles or real challenging kind of pay uses to play to pay people I think yeah I mean over the last well yeah a number of decades I would certainly say that the bigger an organization 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 details into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to develop extra handoffs at the same times that we run in they just make them more prompt they make them less efficient and they do not make them what they need to be in in an age of tech and an era that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any business has from a cost viewpoint from an effect perspective on staff members it is absolutely important 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 most significant harmful impact on people's well-being and numerous other aspects if people aren't paid uh I've always been surprised coming into this Market sort of the last 5 to ten years is how little thanks the
payroll group get um so I'm uncertain anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic 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 hear about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this stuff is done correctly so leveraging the very first International Payments very first payroll payment service is a great primary step um providing an end-to-end payroll option for your workers globally once again I think is another substantial um process once again lining up and guaranteeing you have standardization International processes all of those things are definitely essential to success success of services and lowering 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 regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're implied to be um I do not 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 involved in those procedures and likewise so imagine sorry I'm simply I was simply gon na state picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture 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 certainly be an intriguing task attempting to clean up all those up for sure oh absolutely I can't picture 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 kind of try to return to everyone so carrying on look why do companies pick to main separate savings account there are services out there doing precisely this for specific countries and I've operated in a service or many organizations doing exactly that I can state it doesn't always feel efficient and it does create more work I know we're not purposely doing that we're not creating extra work for any person where we don't need to and anyone that's dealing with that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the requirement I think individuals have actually got so used to we require a new savings account we open an entity and appropriately 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 just been the standard and the standard individuals have embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I believe this is a procedure that requires taking a look at it requires changing but eventually individuals are very stuck with what they recognize
with best um change is a difficult 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 lot of track of stuff um I understand obviously the advantages of having maintaining multiple bank accounts however there's a huge quantity of intricacy opts for setting up a bank account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for specific individuals so the intricacy is big but I think the truthful answer is modification um individuals haven't had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century approximately there is a lot to track and this approach does position a number of challenges um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I just did you changed 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 Worldwide workers you are worthy of a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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