Find out more about Papaya Global Payroll Data Breach ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly devoted to managing payments. This offers us with a safe and secure and reliable method of paying to our 10,000 workers worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, saving me a substantial amount of time each month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
Staff member Website
Workers have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment files. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages packages to worldwide workers no matter the variety of workers in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source regional advantages service providers in every country, create local accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total employment costs dispersed per location, total work expenses per cycle and far more.
environments across the globe I provided leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across business handling and structure external relationships supporting Business customers and services in addition to functioning as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for most influential companies worldwide we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon good night depending on where you remain in the world it's charming to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or six years where I've type of had a variety of various functions on the supplier side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or so 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 intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody originates 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 drizzling here it's very very dreary and I want I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies preserve separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya Global payroll payments as a tactical possession uh we'll also go over a recap and that ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more common and handling them ends up being a growing number of complex International companies are wanting to discover Solutions and new methods to simplify processes especially from a payroll and cross-border payment perspective lots of organizations maintain separate bank account just for payroll while some have several accounts in various countries does it make good sense for business to maintain separate checking account often in various nations it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business streamline the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for businesses running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how companies forecast payroll expenses to optimize working capital, and find how improving international payroll payments can change them from a difficult task into a tactical asset.
Managing payroll worldwide is a complicated job due to various guidelines, compliance requirements, data security concerns, and banking rules. The large number of workers and businesses contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and an absence of combination, leading to inconsistencies and inefficiencies. Despite residing in a period of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to supply insights and services 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 data in real time that's another number that provides me sleepless nights and rather honestly the more a business invests in global payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of international companies have actually revealed that they do not 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 mistakes improperly interacted hires and terminations along with absence management and system configurations and after that when you round everything off and the information is shipped to the wrong location the average expense 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 smoothly if they count on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't require to be included 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 country there's payment timespan 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 wherever you look best ultimately constructing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to type of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is absolutely imperative that payroll and finance teams work closer together than ever um I'm constantly surprised when individuals say I have actually split 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 divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of important to contribute to sort of the level of complexity there's a growing number of benefits being organ or being used by companies throughout the world so once again you're simply aiming to include more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real difficulties or genuine tough type of pay uses to play to pay people I think yeah I imply over the last well yeah a couple of decades I would certainly say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding details into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to create additional handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and a period that you understand that we are working in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any service has from an expense perspective from an impact perspective on workers it is definitely crucial 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 need to be done right it has the biggest damaging result on individuals's well-being and numerous other elements if individuals aren't paid uh I have actually constantly been astonished entering this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm not exactly sure anyone 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 workers or not um but ultimately payroll is such an important cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this things is done properly so leveraging the first Global Payments first payroll payment service is a fantastic primary step um offering an end-to-end payroll option for your staff members globally again I think is another big um process once again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely key to success success of organizations and reducing the variety of tools platforms and savings account they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I do not think any of us are really doing that for for the thanks
anyhow we know 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 everybody that's involved in those processes and likewise so picture sorry I'm just I was just gon na state envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting to clean up all those up for sure oh definitely I can't imagine 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 really see what was going on and type of shot to return to everyone so moving on appearance why do business select to primary different checking account there are organizations out there doing exactly this for specific countries and I have actually operated in a service or many companies doing exactly that I can say it does not always feel efficient and it does develop more work I understand we're not purposely doing that we're not producing extra work for anyone where we do not need to and any person that's managing 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 amount that we are I think numerous factors one is it's the requirement I think people have actually got so utilized to we require a new checking account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals 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 many other ways um to to sort of do it so I think there's a variety I think this is a process that requires taking a look at it requires altering however eventually individuals are very stuck with what they recognize
with right um change is a hard thing all of us do not like change um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having maintaining several savings account but there's a substantial amount of intricacy chooses setting up a bank account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is big but I think the honest answer is change um people haven't been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could almost be determined to be the next Century or so there is a lot to monitor and this method does posture numerous difficulties um so Johnny might you inform us about those obstacles yeah naturally so there's a variety right there is so
I just 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 gained another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your achievements.
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