Find out more about Papaya Global Melbourne Office ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to managing payments. This offers us with a secure and dependable technique of paying to our 10,000 workers worldwide.}
The innovative international payroll management app improves my payroll process, conserving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Staff member Portal provides workers with the capability to access and view essential documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages plans to worldwide employees regardless of the variety of workers in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source local benefits companies in every nation, create local accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall employment expenses dispersed per place, overall work expenses per cycle and much more.
environments around the world I offered management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business managing and building external relationships supporting Enterprise customers and solutions in addition to serving as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for most influential business worldwide we offer payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good evening depending upon where you remain in the world it's lovely to fulfill 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 been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually sort of had a variety of various roles on the company side and likewise on the supplier side from a payroll point of view so actually anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be rather interesting 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 everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really very bleak and I want I was somewhere else 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 Global payroll why business keep different
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for organizations running globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how companies forecast payroll costs to enhance working capital, and find how streamlining global payroll payments can transform them from a challenging task into a strategic property.
Managing payroll internationally is a difficult job due to numerous guidelines, compliance requirements, information security issues, and banking guidelines. The large number of employees and organizations adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often result in manual procedures, data silos, and an absence of integration, leading to disparities and inefficiencies. In spite of residing in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to offer insights and services to streamline and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization spends on worldwide payroll the less of a picture they see an absence of exposure likewise reaches payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global services have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors poorly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the information is delivered to the wrong location the typical expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they count on the required numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're making payments to employees or otherwise that's a great question I always throw this back and say what is it what doesn't need to be included best and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy anywhere you look ideal ultimately building a knowledge base is definitely vital however all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is enabling us to sort of progress with that it also as well to add to that payroll and financing require to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely necessary that payroll and finance groups work closer together than ever um I'm constantly impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not 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 information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on wellness and the settlement landscape is becoming increasingly detailed. Companies are continually presenting new benefits and payment choices, which contributes to the total intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't have to be the case. In today's technically sophisticated era, there's no reason for keeping troublesome treatments. Payroll, the company's greatest expenditure, should be processed correctly and on time. Even minor hold-ups can adversely affect workers' wellness and have significant repercussions. For that reason, it's important to focus on precise and timely payments.
payroll group get um so I'm not exactly sure anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but 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 properly so leveraging the very first International Payments very first payroll payment solution is an excellent first step um providing an end-to-end payroll option for your staff members internationally again I believe is another substantial um procedure again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of organizations and reducing the variety of tools platforms and savings account they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're meant to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we understand how how crucial 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 involved in those procedures and also so think of sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting 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 held true um you 'd require days of the week to attempt to browse them and actually see what was going on and sort of try to return to everyone so proceeding look why do business select to primary different savings account there are companies out there doing exactly this for particular countries and I've worked in a business or numerous businesses doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not producing additional work for any person where we don't have to and anyone that's handling 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 think many factors one is it's the standard I think people have got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that needs looking at it needs altering but eventually people are very stuck to what they recognize
with right um modification is a difficult thing we all don't like change um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having preserving several savings account however there's a substantial quantity of complexity goes with setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is big but I believe the truthful answer is change um people haven't had the ability to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to change but we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century or two there is a lot to keep track of and this approach does position several obstacles um so Johnny could you inform us about those challenges yeah naturally so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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