Find out more about Papaya Global Payroll Can I Pause Payroll For A Seasonal Business ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to handling payments. This provides us with a safe and dependable technique of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Staff member Website offers employees with the capability to access and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global helps business offer competitive advantages bundles to international employees regardless of the variety of employees in the company. The business can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source regional advantages providers in every country, create regional accounts and have a minimum number of staff members.
The HR capabilities offered by Worldwide HR encompass various functions such as keeping an eye on trip time, guaranteeing compliance, helping with the procedure of inviting new workers and bidding farewell to leaving ones, using a protected online platform for saving employees' files, and offering support for work allow procedures in case your workers require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total work expenses distributed per place, overall work costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and strategic know-how in assisting large-scale populations of over 100,000 employees across 170 nations. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My role includes handling and developing external partnerships, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for a lot of prominent business in the world we supply payroll payments and labor force management to all worker types in over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon excellent night depending upon where you remain in the world it's lovely to satisfy 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've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've sort of had a variety of various functions on the service provider side and likewise on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather interesting 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 everybody originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely dreary and I want I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical asset uh we'll also go over a recap and that ought to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more common and handling them ends up being more and more complex Worldwide companies are looking to discover Solutions and new methods to enhance processes particularly from a payroll and cross-border payment viewpoint lots of organizations maintain different checking account just for payroll while some have multiple accounts in various countries does it make sense for business to maintain different checking account often in different nations it does however just for payroll is there a better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting international business simplify the episode complex processes of
Making sure precise, effective, and timely payroll payments is a complex obstacle for businesses running worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, find out how business anticipate payroll costs to enhance working capital, and discover how simplifying international payroll payments can transform them from a troublesome task into a tactical asset.
Handling payroll worldwide is a difficult task due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer variety of workers and services contributes to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically result in manual procedures, data silos, and an absence of integration, leading to inconsistencies and inefficiencies. Regardless of residing in an age of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to provide insights and options to streamline and optimize international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more a company invests in worldwide payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide services have 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 because of time reporting poor HCM information data entry errors improperly communicated hires and terminations as well as lack management and system setups and then when you round all of it off and the data is delivered to the wrong 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 money around the globe payroll and payments don't run efficiently if they rely on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to workers or otherwise that's a great question I constantly throw this back and state what is it what does not need to be consisted of right and what does
it need to be considered 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look ideal eventually building a knowledge base is absolutely important but all over you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind 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 innovation is permitting us to kind of move on with that it also too to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance teams work more detailed together than ever um I'm constantly impressed when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more important to add to type of the level of complexity there's increasingly more advantages being organ or being offered by companies throughout the world so again you're simply aiming to add a growing number of payments to this currently complex landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real difficulties or genuine difficult type of pay uses to play to pay individuals I think yeah I mean over the last well yeah a number of years I would definitely 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 handling the payment side of things but you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to develop extra handoffs at the same times that we run in they simply make them more timely they make them less effective and they do not make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason why we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single greatest liability that any company has from an expense viewpoint from an impact viewpoint on employees it is absolutely vital that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest harmful impact on people's well-being and lots of other elements if individuals aren't paid uh I've always been impressed entering into this Market sort of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anybody 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 only notice when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's viewed externally as well. For that reason, it is vital to ensure that jobs like Wi-Fi International and other crucial matters are done correctly. Utilizing the first Global Payments first payroll payment solution is a great initial step towards offering a detailed payroll service for staff members worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and bank accounts essential for worldwide payroll are key factors in achieving organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things do not go as planned. Eventually, we do not do it for the gratitude.
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 associated with those processes and also so picture sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions picture getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and really see what was going on and sort of shot to get back to everybody so moving on look why do companies choose to main different savings account there are organizations out there doing precisely this for particular countries and I've operated in a business or many organizations doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not need to and anyone 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 believe many factors one is it's the requirement I believe people have actually got so used to we require a new checking account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I think this is a process that needs taking a look at it requires changing however eventually people are very stuck to what they're familiar
with right um change is a tough thing we all do not like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having preserving numerous bank accounts however there's a substantial amount of intricacy opts for setting up a checking account maintaining it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for private people so the complexity is substantial however I think the truthful response is change um individuals haven't had the ability to alter or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be figured out to be the next Century approximately there is a lot to monitor and this method does position numerous obstacles um so Johnny might you inform us about those difficulties yeah obviously so there's a variety right there is so
I recently made a change 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 acquired another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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