Find out more about Papaya Global Payroll Commuter Benefits ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a secure and trusted technique of paying to our 10,000 employees worldwide.}
The advanced global payroll management app enhances my payroll process, conserving me a significant quantity of time every month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Employee Portal offers employees with the ability to gain access to and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global helps business use competitive advantages packages to international employees no matter the number of employees in the company. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages providers in every country, develop local accounts and have a minimum number of employees.
The HR capabilities provided by International HR include numerous functions such as keeping track of getaway time, making sure compliance, facilitating the procedure of inviting new workers and bidding goodbye to departing ones, using a safe and secure online platform for saving employees' documents, and providing assistance for work permit procedures in case your employees need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total employment costs distributed per location, overall work costs per cycle and much more.
environments across the globe I offered management and strategy to populations of over a hundred thousand workers 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 Enterprise clients and options as well as acting as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential companies on the planet we provide payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon good night depending on where you are in the world it's charming 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 have actually been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've type of had a range of different roles on the service provider side and likewise on the supplier side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it remains 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 dreary and I want I was elsewhere at this moment in time all right so let's get going 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 companies preserve different
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one nation but when you're doing it globally it's next level and Beyond it ends up being complex for a range of factors most importantly policies compliance information security and banking guidelines then there are the large numbers they include more intricacy the international Workforce is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll design there's frequently a frustrating variety of different systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or extremely really basic there's no real consistency framework we're living in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more a service spends on international payroll the less of a picture they see an absence of visibility likewise extends to payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of international companies have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes poorly communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the information is shipped to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they rely on the needed multiple 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 service face when they're paying to employees or otherwise that's a great question I constantly throw this back and say what is it what does not need to be consisted of 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 nation there's payment amount of time there's payment abilities 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 any place you look right eventually building a knowledge base is definitely vital but everywhere you look with payroll payment they are like super payments no if but some babies 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 definitely basic and innovation is enabling us to type of move forward with that it likewise too to add to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely imperative that payroll and finance groups work closer together than ever um I'm constantly astonished when individuals say 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 profession would they divide the payroll payment from computation I would say no so why do we as a market 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 people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on well-being and the compensation landscape is becoming progressively intricate. Companies are continually introducing new benefits and payment alternatives, which contributes to the total complexity. Big corporations frequently divide their payroll and payment processing into different teams, which can result in inefficiencies and bottlenecks. In my opinion, this does not need to be the case. In today's technically sophisticated era, there's no justification for maintaining troublesome procedures. Payroll, the company's greatest cost, should be processed properly and on time. Even small hold-ups can adversely affect workers' wellness and have significant consequences. Therefore, it's vital to focus on precise and timely payments.
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has actually 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 just observe when things fail. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally as well. Therefore, it is essential to ensure that tasks like Wi-Fi Worldwide and other essential matters are done properly. Using the first Worldwide Payments very first payroll payment option is a fantastic initial action towards providing a detailed payroll solution for workers worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and checking account required 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 sometimes receive a few complaints when things do not go as planned. Eventually, we don't do it for the appreciation.
anyhow we know 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 easy as possible for everyone that's involved in those processes and likewise so picture sorry I'm simply I was just gon na state picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating 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 require days of the week to attempt to check out them and really see what was going on and sort of try to get back to everyone so carrying on appearance why do companies choose to primary different savings account there are organizations out there doing exactly this for specific nations and I've operated in an organization or many businesses doing exactly that I can say it does not always feel effective and it does create more work I know we're not purposely doing that we're not developing additional work for anybody where we do not have to and anybody that's handling 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 think many factors one is it's the standard I think individuals have got so used to we need a brand-new bank 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 norm individuals have actually embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I believe this is a process that needs taking a look at it requires changing but ultimately individuals are extremely stuck to what they're familiar
with ideal um change is a hard thing we all do not like change um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having preserving multiple savings account however there's a substantial quantity of complexity opts for setting up a checking account keeping it ensuring it can send out International transfers ensuring it's set up with the right user accesses for individual people so the intricacy is huge however I believe the truthful response is modification um people have not been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I think it is knowledge you understand 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 advantages and the possibilities of proceeding and moving into you know what could practically be figured out to be the next Century or two there is a lot to keep track of and this method does present a number of difficulties um so Johnny might you tell us about those challenges yeah obviously 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 manage our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this improved capability, I have effectively secured payments for our 10,000 workers worldwide. Your commitment 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 accomplishments.
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