Find out more about Papaya Global Facebook Payroll ... 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 actually acquired a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and trusted method of paying to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll process, saving me a significant quantity of time each month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Employee Website supplies workers with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Advantages Administration
Papaya Global helps business use competitive advantages bundles to global workers despite the variety of workers in the company. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source local benefits companies in every country, produce local accounts and have a minimum variety of employees.
The HR capabilities offered by Worldwide HR include various functions such as keeping an eye on holiday time, ensuring compliance, facilitating the procedure of welcoming brand-new employees and bidding farewell to leaving ones, using a protected online platform for saving employees' files, and offering assistance for work allow procedures in case your staff members need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall employment expenses dispersed per place, overall work expenses per cycle and a lot more.
Worldwide, I have actually demonstrated management and tactical competence in assisting massive populations of over 100,000 staff members across 170 countries. Presently, I are accountable for managing payroll methods, as pointed out by Mark. My role includes managing and developing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for most influential business worldwide we provide payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon good night depending on where you remain in the world it's beautiful to satisfy you and thank you very much for your time as Ian said 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 seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I've type of had a range of different functions on the company side and likewise on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply 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 is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very very uninspiring and I wish I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic asset uh we'll also review a wrap-up which must leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of common and managing them ends up being more and more complex Worldwide organizations are wanting to discover Solutions and brand-new ways to streamline procedures especially from a payroll and cross-border payment standpoint lots of organizations keep separate checking account just for payroll while some have several accounts in different countries does it make sense for companies to keep different savings account sometimes in various countries it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business enhance the episode complex procedures of
Ensuring accurate, efficient, and timely payroll payments is a complex obstacle for organizations operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, discover how companies forecast payroll expenses to optimize working capital, and discover how streamlining international payroll payments can change them from a troublesome job into a strategic possession.
Managing payroll internationally is an overwhelming task due to different policies, compliance requirements, data security issues, and banking guidelines. The large number of staff members and services contributes to the complexity, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often result in manual processes, information silos, and a lack of integration, causing disparities and inadequacies. Despite living in an age of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to offer 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 only 11 of companies state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a business invests in global payroll the less of a photo they see an absence of presence also extends to payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the transaction almost half of global 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 errors are due to time reporting bad HCM data data entry mistakes improperly communicated hires and terminations along with lack management and system configurations and after that when you round all of it off and the information is shipped to the incorrect place the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they depend on the required several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles organization face when they're making payments to workers or otherwise that's a great concern I constantly throw this back and state what is it what doesn't require to be included right and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy wherever you look ideal eventually developing a knowledge base is absolutely important but all over you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and technology is permitting us to sort of move forward with that it also also to add to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely essential that payroll and financing groups work more detailed together than ever um I'm always surprised when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation 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 ultimately 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 likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high value on wellness and the compensation landscape is ending up being increasingly elaborate. Businesses are continuously presenting brand-new advantages and payment choices, which contributes to the total intricacy. Big corporations often divide their payroll and payment processing into separate groups, which can cause inadequacies and bottlenecks. In my opinion, this doesn't need to be the case. In today's highly innovative era, there's no reason for preserving troublesome treatments. Payroll, the business's biggest cost, must be processed properly and on time. Even slight hold-ups can adversely affect staff members' well-being and have far-reaching repercussions. Therefore, it's crucial to prioritize precise and prompt payments.
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just observe when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally also. For that reason, it is necessary to make sure that tasks like Wi-Fi Global and other crucial matters are done properly. Using the first Worldwide Payments first payroll payment service is an excellent preliminary step towards providing a thorough payroll solution for workers worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and bank accounts essential for international payroll are crucial factors in attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyway we understand how how crucial a function 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 think of sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see how many 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 picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and in fact see what was going on and sort of shot to get back to everybody so moving on appearance why do companies pick to primary different savings account there are companies out there doing exactly this for particular countries and I have actually operated in an organization or lots of businesses doing exactly that I can state it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not producing additional work for any person where we don't need to and any person that's managing 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 numerous factors one is it's the standard I believe individuals have got so used to we require a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I believe this is a process that requires taking a look at it needs altering but eventually individuals are extremely stuck with what they're familiar
with best um change is a tough thing we all do not like modification um so I believe it's just type 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 understand certainly the advantages of having keeping numerous savings account however there's a substantial amount of intricacy opts for establishing a savings account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for individual individuals so the complexity is big however I believe the truthful response is change um individuals haven't had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter 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 know what might nearly be determined to be the next Century approximately there is a lot to keep an eye on and this technique does pose a number of difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I just did you switched our Enterprise 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 Global workers you are worthy of a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global