Find out more about Papaya Global Payroll Cut Off Time ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and dependable approach of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Staff member Portal provides workers with the capability to access and view crucial documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages plans to worldwide employees no matter the variety of workers in the company. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source regional benefits suppliers in every country, develop regional accounts and have a minimum number of employees.
The HR capabilities offered by Worldwide HR encompass different functions such as keeping an eye on holiday time, making sure compliance, assisting in the process of inviting new staff members and bidding goodbye to departing ones, using a safe and secure online platform for saving employees' files, and offering support for work allow treatments in case your employees require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall work costs distributed per place, overall employment expenses per cycle and a lot more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout business handling and structure external relationships supporting Enterprise customers and solutions in addition to acting as a consultant for those of you that do not understand who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential business in the world we supply payroll payments and workforce management to all worker key ins over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon great night 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 have actually remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I have actually type of had a variety of different functions on the company side and also on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone 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 really very uninspiring and I want I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies keep different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially helpful for international companies with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex challenge for companies running globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to optimize working capital, and discover how improving worldwide payroll payments can transform them from a challenging job into a tactical possession.
Managing payroll worldwide is a complicated job due to numerous regulations, compliance requirements, data security issues, and banking rules. The sheer number of workers and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems often result in manual processes, information silos, and an absence of combination, causing disparities and inadequacies. Regardless of residing in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to supply insights and services to streamline and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that provides me sleepless nights and quite frankly the more a company spends on global payroll the less of an image they see an absence of visibility likewise reaches payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the deal almost half of international organizations have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors improperly interacted hires and terminations as well as lack management and system configurations and then when you round everything off and the data is shipped to the wrong place the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the essential several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges company face when they're making payments to staff members or otherwise that's an excellent concern I always toss this back and say what is it what doesn't require to be consisted of right and what does
it require to be thought of 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 need to pay from the client's own in-country account so there's intricacy any place you look ideal eventually constructing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is enabling us to sort of move on with that it likewise also to add to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is definitely crucial that payroll and finance groups work more detailed together than ever um I'm constantly amazed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to add to type of the level of complexity there's more and more benefits being organ or being used by organizations throughout the world so again you're just aiming to include a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real challenges or real challenging type of pay uses to play to pay people I think yeah I suggest over the last well yeah a number of years I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding info into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we require to produce extra handoffs in the processes that we operate in they just make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and an era that you know that we are operating in today there is no reason that we are still making this as difficult as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any service has from an expense perspective from an effect viewpoint on employees it is definitely important that it's done correctly 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 greatest detrimental impact on individuals's wellness and numerous other aspects if people aren't paid uh I have actually always been amazed coming into this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this sort of webinar has actually been told 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 staff members or not um however ultimately payroll is such a crucial cycle all of us hear about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment option is a fantastic primary step um providing an end-to-end payroll service for your staff members worldwide once again I think is another big um process once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of organizations and lowering the variety of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how essential 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 everyone that's associated with those processes and also so envision sorry I'm just I was simply gon na say imagine the amount of thanks you got if you might cover the quantity 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 notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job 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 need days of the week to try to look through them and in fact see what was going on and sort of try to return to everybody so proceeding appearance why do companies select to primary separate checking account there are services out there doing precisely this for specific countries and I have actually operated in a business or numerous businesses doing exactly that I can say it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not creating additional work for anybody where we don't have to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think many reasons one is it's the requirement I think people have got so utilized to we require a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to kind of do it so I think there's a range I think this is a procedure that needs taking a look at it needs changing however eventually individuals are extremely stuck with what they recognize
with best um modification is a hard thing we all do not like change um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having keeping multiple checking account however there's a substantial quantity of complexity chooses setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the complexity is huge however I think the honest response is modification um individuals haven't had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to monitor and this approach does posture a number of obstacles um so Johnny could you tell us about those difficulties yeah obviously so there's a range right there is so
I just did you switched our Business 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 workers you deserve a corner workplace with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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