Find out more about Papaya Global Payroll Hr ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and dependable method of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Staff member Portal supplies staff members with the ability to access and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Advantages Administration
Papaya Global helps companies use competitive advantages bundles to worldwide employees no matter the variety of workers in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the requirement to source local advantages companies in every nation, produce local accounts and have a minimum variety of staff members.
The HR abilities provided by Global HR include numerous functions such as monitoring holiday time, ensuring compliance, assisting in the procedure of welcoming new workers and bidding goodbye to leaving ones, offering a safe and secure online platform for saving employees' documents, and supplying support for work permit treatments in case your employees require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall work costs distributed per area, total work expenses per cycle and much more.
environments across the globe I offered management and strategy 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 throughout the business handling and structure external relationships supporting Business customers and options along with serving as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for the majority of prominent business in the world we offer payroll payments and workforce management to all employee enters 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 present yourself of course thank you good morning excellent afternoon great evening depending on where you remain in the world it's lovely to meet 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 market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of various functions on the company side and also on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating 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 truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really extremely dreary and I wish I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business keep separate
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining separate savings account for payroll in various countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex challenge for organizations operating internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to enhance working capital, and find how simplifying international payroll payments can change them from a burdensome job into a strategic property.
Handling payroll globally is an overwhelming task due to numerous guidelines, compliance requirements, information 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 worldwide workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual processes, data silos, and an absence of combination, resulting in inconsistencies and inadequacies. Regardless of living in an age of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar objectives to supply insights and services to simplify and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a service spends on international payroll the less of an image they see an absence of presence likewise reaches payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of global organizations have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they depend on the essential multiple procedures 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 difficulties organization face when they're paying to workers or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be included best and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 customer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is definitely important but all over you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is allowing us to sort of progress with that it likewise also to add to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is definitely imperative that payroll and finance teams work closer together than ever um I'm constantly amazed when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to contribute to sort of the level of complexity there's a growing number of advantages being organ or being provided by businesses across the world so once again you're simply looking to include more and more payments to this already complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine challenging sort of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of years I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding details into the next function as it were that's really managing the payment side of things however you understand in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to develop additional handoffs while doing sos 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 a period that you know that we are working in today there is no reason we are still making this as difficult as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from a cost perspective from an impact viewpoint on staff members it is absolutely important that it's done properly and on time so what we mean 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 destructive effect on individuals's well-being and lots of other factors if people aren't paid uh I've always been amazed entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just see when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally as well. Therefore, it is important to guarantee that tasks like Wi-Fi Worldwide and other vital matters are done properly. Utilizing the first International Payments very first payroll payment service is a great initial step towards supplying a detailed payroll solution for employees worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and savings account essential for worldwide payroll are key factors in attaining service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things do not go as prepared. Eventually, we don't do it for the gratitude.
anyhow we understand how how crucial a role 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 think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions imagine getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job trying 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 require days of the week to attempt to check out them and in fact see what was going on and sort of shot to get back to everybody so carrying on look why do companies select to main different savings account there are organizations out there doing precisely this for particular nations and I have actually operated in a business or numerous organizations doing exactly that I can say it does not constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not developing extra work for any person where we do not need to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the standard I believe individuals have got so used to we need a brand-new checking account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I believe this is a process that needs taking a look at it needs changing however eventually people are really stuck to what they recognize
with ideal um change is a difficult thing all of us don't like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having maintaining several checking account but there's a substantial amount of complexity chooses setting up a savings account preserving it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for individual people so the complexity is huge but I think the honest response is modification um people have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to alter however we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might almost be determined to be the next Century or two there is a lot to keep track of and this approach does position several difficulties um so Johnny might you inform us about those challenges yeah obviously 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 handle our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this enhanced capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your achievements.
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