Find out more about Save Money And Improve Business With Papaya Global Hr ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and trustworthy method of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, conserving me a significant quantity of time each month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Staff member Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive advantages bundles to global staff members despite the number of workers in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source local advantages companies in every nation, develop regional accounts and have a minimum number of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total work costs dispersed per place, overall work expenses per cycle and much more.
environments around the world I provided management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work across business handling and structure external relationships supporting Business customers and options in addition to acting as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for most prominent business in the world we supply payroll payments and workforce management to all employee enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon great evening depending upon where you remain in the world it's beautiful to meet 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 industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I've sort of had a variety of different functions on the supplier side and also on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll sort 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 sort of like see where everybody originates from and I actually do hope it's much sunnier than it remains 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 really gloomy and I want I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies maintain separate
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of keeping different savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex difficulty for companies running internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to enhance working capital, and discover how improving worldwide payroll payments can change them from a burdensome job into a strategic asset.
Managing payroll internationally is a complicated job due to various policies, compliance requirements, data security issues, and banking rules. The large variety of staff members and companies contributes to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual procedures, data silos, and an absence of combination, leading to disparities and ineffectiveness. Despite living in a period of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to provide insights and options to streamline and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that offers me sleep deprived nights and rather frankly the more a company invests in international payroll the less of a picture they see an absence of visibility also extends to payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction almost half of global businesses have 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 because of time reporting poor HCM information information entry mistakes improperly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the data is shipped to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they count on the required multiple procedures 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 obstacles organization face when they're paying to employees or otherwise that's an excellent question I always toss this back and state what is it what does not need to be consisted of right and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 ideal eventually building a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble extremely 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 think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is allowing us to type of progress with that it also as well to add to that payroll and financing require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely crucial that payroll and finance teams work closer together than ever um I'm constantly impressed when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on well-being and the settlement landscape is becoming increasingly elaborate. Businesses are continuously introducing new benefits and payment alternatives, which adds to the overall complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to ineffectiveness and traffic jams. In my opinion, this doesn't have to be the case. In today's technologically innovative period, there's no validation for maintaining troublesome treatments. Payroll, the business's most significant expense, should be processed properly and on time. Even slight hold-ups can adversely affect employees' wellness and have significant consequences. Therefore, it's vital to focus on accurate and timely payments.
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only discover when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally as well. For that reason, it is important to make sure that jobs like Wi-Fi Global and other crucial matters are done correctly. Using the very first International Payments first payroll payment option is an excellent initial action towards offering a detailed payroll option for staff members worldwide. Standardization, worldwide processes, and minimizing the number of tools, platforms, and bank accounts necessary for worldwide payroll are key factors in attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things do not go as prepared. Eventually, we do not do it for the thankfulness.
anyway we understand 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 simple as possible for everybody that's associated with those processes and also so think of sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job attempting to clean 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 need days of the week to attempt to look through them and really see what was going on and type of try to return to everybody so proceeding look why do business select to main separate bank accounts there are organizations out there doing exactly this for specific nations and I've worked in a business or lots of services doing precisely that I can state it does not always feel effective and it does develop more work I know we're not deliberately doing that we're not developing additional 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 amount that we are I think lots of reasons one is it's the standard I think people have got so used to we require a new savings 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 believe it's simply been the standard and the norm the people have actually embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other ways um to to sort of do it so I think there's a range I believe this is a process that requires taking a look at it needs changing but eventually individuals are very stuck to what they're familiar
with best um modification is a tough thing all of us do not like change um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having preserving multiple bank accounts however there's a substantial amount of complexity chooses setting up a checking account maintaining it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for specific people so the complexity is substantial however I think the sincere response is modification um people haven't been able to alter or have not had always the understanding to truly make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to change however we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century or two there is a lot to monitor and this approach does present several difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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