Find out more about Papaya Global Payroll Billing ... We now have the capability to handle 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 dedicated to handling payments. This offers us with a safe and trusted approach of paying to our 10,000 employees worldwide.}
The innovative worldwide payroll management app improves my payroll procedure, conserving me a significant amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Employee Portal provides workers with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is provided in various languages.
Advantages Administration
Papaya Global helps companies provide competitive benefits bundles to global workers no matter the variety of employees in the business. The business can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages companies in every country, produce regional accounts and have a minimum number of staff members.
The HR abilities offered by Worldwide HR incorporate numerous functions such as keeping an eye on vacation time, making sure compliance, helping with the process of welcoming brand-new workers and bidding goodbye to leaving ones, providing a secure online platform for saving workers' documents, and providing support for work permit treatments in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, total employment expenses dispersed per area, total work expenses per cycle and much more.
environments around the world I provided leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark said I work across business managing and structure external relationships supporting Enterprise clients and solutions as well as functioning as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for many prominent companies on the planet we supply payroll payments and labor force management to all staff member enters over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon great evening depending upon where you are in the world it's lovely to fulfill you and thank you quite 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 particularly working on the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or six years where I've sort of had a range of various functions on the service provider side and also on the supplier side from a payroll point of view so really anticipating this conversation 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 approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating 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 comes from and I actually 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 really uninspiring and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business preserve separate
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is especially beneficial for international companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex obstacle for organizations running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll expenses to optimize working capital, and find how simplifying worldwide payroll payments can change them from a troublesome job into a tactical asset.
Managing payroll internationally is a daunting job due to various guidelines, compliance requirements, data security issues, and banking guidelines. The large number of workers and services contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently result in manual procedures, data silos, and a lack of combination, causing inconsistencies and ineffectiveness. Regardless of residing in a period of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to offer insights and services to simplify and optimize global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more a business invests in international payroll the less of a picture they see an absence of presence likewise reaches payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal almost half of international organizations have expressed 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 because of time reporting bad HCM data data entry errors badly interacted hires and terminations along with absence management and system configurations and then when you round everything off and the data is shipped to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they rely on the essential several 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 challenges service 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 does not need to be included best and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 have to pay from the customer's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is absolutely vital 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 technology is allowing us to sort of move forward with that it also also to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work more detailed together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on wellness and the settlement landscape is becoming progressively elaborate. Companies are continuously introducing new advantages and payment choices, which adds to the total complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't have to hold true. In today's technologically advanced era, there's no reason for keeping cumbersome procedures. Payroll, the company's most significant expenditure, must be processed correctly and on time. Even small hold-ups can adversely impact workers' well-being and have far-reaching effects. For that reason, it's critical to focus on accurate and prompt payments.
The payroll group may not have been thanked for correctly 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 an essential cycle, and individuals only notice when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally too. Therefore, it is essential to ensure that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the very first Global Payments first payroll payment solution is a terrific initial step towards offering a detailed payroll service for workers worldwide. Standardization, international procedures, and lowering the number of tools, platforms, and savings account necessary for international payroll are crucial consider accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyhow we understand how how essential 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 everybody that's associated with those procedures and likewise so envision sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions picture getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and kind of shot to return to everyone so proceeding look why do business select to main separate savings account there are services out there doing exactly this for specific nations and I've worked in an organization or lots of organizations doing precisely that I can say it does not constantly feel effective and it does produce more work I know we're not purposely doing that we're not producing additional work for any person where we don't have to and anyone that's dealing with that process 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 think many reasons one is it's the requirement I think individuals have got so used to we need a brand-new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs changing however ultimately individuals are very stuck with what they're familiar
with ideal um modification is a challenging thing all of us do not like change um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having preserving multiple checking account but there's a big quantity of complexity opts for setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the intricacy is huge but I believe the truthful response is modification um individuals have not had the ability to alter or have not had always the understanding to truly 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 knowledge you understand and there is an aspect of resistance to alter however we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could almost be figured out to be the next Century or so there is a lot to track and this method does present several challenges um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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