Find out more about Top Hr Software For Compliance And Savings By Papaya Global ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to managing payments. This offers us with a protected and reputable method of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Employee Portal supplies staff members with the ability to access and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive benefits packages to worldwide workers no matter the number of staff members in the company. The business can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source local advantages companies in every nation, produce regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, total work expenses distributed per place, overall work costs per cycle and a lot more.
environments around the world I provided leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business managing and building external relationships supporting Enterprise customers and services along with serving as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for the majority of prominent 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 introduce yourself of course thank you good morning great afternoon good evening depending upon where you remain in the world it's beautiful 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've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of various functions on the company side and also on the vendor side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind 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 drizzling here it's extremely really dreary and I want I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of preserving separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in enough in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most significantly policies compliance information security and banking guidelines then there are the large numbers they add further intricacy the worldwide Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll model there's typically an overwhelming variety of various systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or extremely very basic there's no real consistency framework we're residing in an age of tech however 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 which just blows my mind every time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a service invests in international payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of international services have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes badly communicated hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is delivered to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they depend on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're making payments to workers or otherwise that's a great concern I always throw this back and say what is it what does not require to be consisted of right and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need 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 right ultimately constructing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble extremely 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 acknowledgment that payroll payments are definitely fundamental and technology is enabling us to type of progress with that it likewise also to add to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm constantly amazed when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from computation 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 data collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on well-being and the payment landscape is becoming significantly detailed. Companies are continuously presenting new benefits and payment options, which adds to the total complexity. Big corporations often divide their payroll and payment processing into separate groups, which can cause inadequacies and bottlenecks. In my opinion, this does not need to be the case. In today's technologically advanced era, there's no justification for maintaining cumbersome procedures. Payroll, the company's biggest cost, need to be processed correctly and on time. Even minor delays can adversely impact staff members' wellness and have significant effects. Therefore, it's important to focus on accurate and prompt payments.
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just observe when things fail. Nevertheless, when things go right, it's seen as just a routine task. This is how it's viewed externally also. For that reason, it is necessary to ensure that tasks like Wi-Fi Global and other important matters are done properly. Utilizing the first Global Payments very first payroll payment solution is a terrific preliminary action towards offering a detailed payroll solution for staff members worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and bank accounts required for international payroll are crucial factors in attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things don't go as planned. Ultimately, we do not do it for the thankfulness.
anyhow we understand how how important 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 involved in those processes and also so think of sorry I'm simply I was simply gon na state think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and actually see what was going on and sort of shot to get back to everyone so proceeding look why do business choose to primary separate savings account there are organizations out there doing precisely this for specific countries and I've worked in an organization or lots of companies doing exactly that I can state it doesn't always feel efficient and it does create more work I know we're not intentionally doing that we're not creating extra work for anyone where we do not have to and anyone that's handling that procedure 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 think numerous factors one is it's the requirement I believe individuals have actually got so used to we require a brand-new checking 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 the people have actually adopted 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 lots of other ways um to to kind of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires changing however eventually individuals are really stuck to what they're familiar
with best um change is a tough thing all of us don't like change um so I believe it's simply type of moving far from the norm 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 maintaining multiple checking account however there's a big amount of complexity goes with setting up a bank account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is big however I believe the sincere response is change um people haven't had the ability to change or have not had always the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we've always 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 approximately there is a lot to keep track of and this approach does present several challenges um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced capability, I have actually effectively secured payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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