Find out more about Papaya Global What 100 Countries ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and trusted approach of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Employee Website offers employees with the capability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is used in different languages.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to international staff members no matter the variety of staff members in the business. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source local advantages service providers in every country, produce local accounts and have a minimum variety of workers.
The HR abilities supplied by Worldwide HR incorporate numerous functions such as keeping an eye on holiday time, ensuring compliance, helping with the process of welcoming brand-new employees and bidding goodbye to leaving ones, providing a protected online platform for storing workers' documents, and supplying assistance for work allow procedures in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall work expenses distributed per location, overall work expenses per cycle and much more.
Worldwide, I have actually shown leadership and tactical expertise in directing large-scale populations of over 100,000 employees across 170 nations. Currently, I are accountable for managing payroll strategies, as discussed by Mark. My function includes managing and developing external partnerships, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for a lot of influential companies worldwide we provide payroll payments and workforce management to all staff member types in over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon great evening depending upon where you remain in the world it's beautiful to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last five or 6 years where I have actually sort of had a range of various roles on the service provider side and also on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really 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 extremely bleak and I want I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why companies maintain different
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is particularly beneficial for international organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining different savings account for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, find out how business anticipate payroll costs to enhance working capital, and discover how improving international payroll payments can transform them from a challenging job into a tactical property.
Handling payroll internationally is a daunting task due to numerous policies, compliance requirements, information security issues, and banking guidelines. The large variety of workers and companies 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.
Conventional payroll systems often lead to manual procedures, information silos, and an absence of integration, leading to inconsistencies and ineffectiveness. Regardless of residing in an age of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to provide insights and solutions to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization spends on international payroll the less of a photo they see a lack of presence likewise reaches 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 revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors badly interacted hires and terminations along with lack management and system setups and after that when you round it all off and the data is shipped to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they rely on the needed multiple processes 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 paying to staff members or otherwise that's a great question I always toss this back and say what is it what does not require to be included 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 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 complexity any place you look best eventually constructing a knowledge base is absolutely vital but all over you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is enabling us to sort of progress with that it also 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 processes is definitely important that payroll and financing groups work better together than ever um I'm always surprised when people state I have actually divided payroll and payment um if you stroll 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 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 procedure it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on wellness and the compensation landscape is becoming progressively complex. Organizations are continuously introducing new advantages and payment choices, which adds to the general intricacy. Large corporations often divide their payroll and payment processing into different teams, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't have to hold true. In today's highly advanced period, there's no justification for keeping troublesome procedures. Payroll, the business's biggest expense, must be processed correctly and on time. Even slight hold-ups can adversely impact staff members' well-being and have significant repercussions. For that reason, it's critical to prioritize accurate and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just notice when things go wrong. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. For that reason, it is vital to make sure that jobs like Wi-Fi Global and other important matters are done properly. Utilizing the very first Global Payments very first payroll payment service is a great initial action towards supplying a detailed payroll option for employees worldwide. Standardization, worldwide processes, and minimizing the number of tools, platforms, and bank accounts essential for worldwide payroll are crucial consider accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as prepared. Ultimately, we don't do it for the appreciation.
anyhow 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 simple as possible for everyone that's involved in those processes and also so think of sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and in fact see what was going on and type of shot to get back to everybody so carrying on appearance why do business choose to primary different bank accounts there are companies out there doing exactly this for specific nations and I've worked in a company or lots of businesses doing precisely that I can state it does not always feel effective and it does produce more work I understand we're not purposely doing that we're not creating additional work for anyone where we don't need to and anybody that's managing 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 amount that we are I believe lots of factors one is it's the requirement I think people have got so used to we require a new checking account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I believe this is a procedure that requires taking a look at it needs changing however eventually people are extremely stuck with what they're familiar
with best um change is a tough thing we all don't like modification um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having maintaining several checking account however there's a big quantity of intricacy goes with setting up a checking account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual individuals so the intricacy is substantial but I think the sincere answer is change um individuals have not been able to alter or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I believe 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 taking a look at the the benefits and the possibilities of moving on and moving into you know what might nearly be determined to be the next Century or two there is a lot to keep track of and this method does pose several obstacles um so Johnny could you inform us about those difficulties yeah of course so there's a range right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you should have a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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