Find out more about Papaya Global Payroll Autopilot ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to managing payments. This offers us with a secure and reputable technique of making payments to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, conserving me a considerable quantity of time every month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Employee Portal offers workers with the capability to gain access to and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global helps business provide competitive advantages bundles to international staff members despite the number of employees in the business. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every nation, develop regional accounts and have a minimum number of workers.
The HR abilities provided by Global HR encompass various functions such as keeping track of vacation time, guaranteeing compliance, facilitating the procedure of welcoming new employees and bidding farewell to departing ones, offering a secure online platform for saving workers' documents, and providing support for work permit treatments in case your workers require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, overall work costs distributed per location, total employment costs per cycle and far more.
environments across the globe I supplied leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business managing and structure external relationships supporting Enterprise clients and options along with functioning as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for many prominent business on the planet we provide payroll payments and workforce management to all worker types in over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon excellent night depending on where you are in the world it's charming 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 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've kind of had a variety of various functions on the service provider side and also on the supplier side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay 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 kind of let them do that so it 'd be quite 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 truly do hope it's much sunnier than it is 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 okay so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a strategic property uh we'll also review a recap and that needs to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more common and handling them becomes a growing number of intricate International organizations are wanting to discover Solutions and brand-new ways to improve procedures particularly from a payroll and cross-border payment perspective lots of organizations keep different savings account just for payroll while some have several accounts in different nations does it make sense for business to preserve different checking account in some cases in different nations it does however just for payroll exists a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational companies streamline the episode complex procedures of
Making sure precise, effective, and prompt payroll payments is a complex challenge for services running worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, learn how companies forecast payroll costs to enhance working capital, and discover how streamlining global payroll payments can change them from a difficult task into a tactical property.
Managing payroll globally is a difficult task due to various guidelines, compliance requirements, information security concerns, and banking rules. The large number of staff members and services adds to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and an absence of combination, resulting in inconsistencies and inadequacies. Despite living in an age of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to supply insights and options to simplify and optimize global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more a business spends on global payroll the less of a photo they see a lack of visibility also encompasses payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of global businesses have expressed that they don't 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 poorly communicated hires and terminations along with lack management and system setups and then when you round everything off and the information is delivered to the incorrect place the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they depend on the essential numerous 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 obstacles organization face when they're paying to staff members or otherwise that's an excellent question I always toss this back and say what is it what does not require to be included ideal and what does
it need to be thought about there's differing 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look best eventually developing a knowledge base is definitely crucial however everywhere you look with payroll payment they are like extremely payments no if however some children 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 essential and innovation is allowing us to kind of move on with that it likewise as well to add to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and financing groups work more detailed together than ever um I'm constantly surprised when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from estimation 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 anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more essential to contribute to sort of the level of complexity there's increasingly more advantages being organ or being offered by businesses throughout the world so once again you're just aiming to include a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine challenges or genuine challenging sort of pay utilizes 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 larger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to develop extra handoffs in the processes that we operate in they just make them more timely they make them less efficient and they don't make them what they need to be in in an age of tech and an era that you understand that we are working in today there is no reason we are still making this as tough as it requires to be agreed and rightly as you said payroll is the single greatest liability that any business has from a cost perspective from an effect perspective on employees it is definitely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the most significant harmful result on individuals's wellness and lots of other elements if individuals aren't paid uh I've constantly been astonished entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just observe when things go wrong. However, when things go right, it's seen as just a routine job. This is how it's perceived externally as well. For that reason, it is essential to make sure that tasks like Wi-Fi International and other vital matters are done properly. Utilizing the first Global Payments very first payroll payment service is an excellent initial action towards offering a comprehensive payroll option for employees worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and bank accounts necessary for international payroll are crucial factors in attaining organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of complaints when things don't go as planned. Eventually, we do not do it for the gratitude.
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 associated with those procedures and likewise so picture sorry I'm just I was just gon na say envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and in fact see what was going on and type of shot to get back to everybody so proceeding look why do business select to main different checking account there are businesses out there doing exactly this for specific countries and I've operated in a service or lots of organizations doing exactly that I can say it does not always feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating additional work for any person where we do not have to and anybody that's handling 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 believe individuals have actually got so used to we require a brand-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 believe it's simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I believe this is a process that needs taking a look at it needs changing but ultimately individuals are very stuck to what they recognize
with right um modification is a tough thing all of us don't like modification um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having preserving several bank accounts but there's a substantial amount of intricacy chooses setting up a savings account maintaining it ensuring it can send International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is huge but I think the honest answer is modification um individuals have not had the ability to alter or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to track and this approach does position a number of difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a variety 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 tasks on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your accomplishments.
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