Find out more about Papaya Global Payroll Deduction For Advance ... 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 obtained a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and trustworthy approach of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
The Staff member Website offers employees with the capability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists companies offer competitive advantages bundles to global workers no matter the variety of workers in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source regional benefits companies in every country, create regional accounts and have a minimum number of workers.
The HR capabilities provided by Worldwide HR incorporate different functions such as keeping an eye on holiday time, making sure compliance, helping with the procedure of welcoming new employees and bidding goodbye to leaving ones, providing a secure online platform for saving employees' files, and offering support for work allow treatments in case your employees need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total employment costs dispersed per place, overall employment expenses per cycle and a lot more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business managing and structure external relationships supporting Business customers and options in addition to serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As a global business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and obstacles of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of different roles on the supplier side and also on the vendor side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well one of 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 fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone originates 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 drizzling here it's really really 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 International payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Global payroll payments as a strategic asset uh we'll also go over a wrap-up and that should leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more typical and handling them becomes increasingly more intricate International companies are aiming to find Solutions and brand-new ways to enhance procedures particularly from a payroll and cross-border payment perspective lots of organizations keep separate checking account just for payroll while some have numerous accounts in various nations does it make sense for companies to preserve different checking account sometimes in various countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international business streamline the episode complex processes of
Ensuring accurate, effective, and prompt payroll payments is a complex challenge for services running globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, learn how business anticipate payroll expenses to optimize working capital, and find how improving worldwide payroll payments can change them from a difficult job into a tactical asset.
Managing payroll globally is an overwhelming task due to various regulations, compliance requirements, information security concerns, and banking guidelines. The large number of employees and companies adds to the intricacy, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and a lack of integration, resulting in inconsistencies and ineffectiveness. Regardless of living in an age of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and solutions to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that offers me sleep deprived nights and rather frankly the more a business spends on international payroll the less of an image they see a lack of exposure also encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of international services have actually revealed that they don't 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 information entry errors badly interacted hires and terminations in addition to lack management and system setups and after that when you round all of it off and the information is delivered to the incorrect location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they depend on the needed several procedures 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 paying to employees or otherwise that's an excellent concern I always toss this back and say what is it what does not need to be consisted of best and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment capabilities 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 client's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is definitely important but all over you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to type of move forward with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work closer together than ever um I'm constantly amazed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more important to add to type of the level of intricacy there's a growing number of advantages being organ or being provided by services across the world so once again you're just looking to include increasingly more payments to this already complex landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine challenges or genuine difficult sort of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a number of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding details into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to produce additional handoffs in the processes that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in a period of tech and an era that you understand that we are operating in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any organization has from a cost viewpoint from an effect viewpoint on workers it is absolutely crucial that it's done properly and on time so what we indicate 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 detrimental effect on people's wellness and lots of other aspects if people aren't paid uh I've constantly been impressed coming into this Market sort of the last five to 10 years is how little thanks the
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 fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people only notice when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's perceived externally as well. Therefore, it is necessary to make sure that jobs like Wi-Fi International and other essential matters are done properly. Using the very first International Payments first payroll payment option is an excellent preliminary step towards supplying an extensive payroll solution for workers worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and savings account required for international payroll are essential factors in accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyway we know how how crucial a function 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 everybody that's involved in those procedures and also so picture sorry I'm just I was just gon na say envision 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 discussing numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and actually see what was going on and type of try to return to everyone so carrying on look why do business choose to primary separate savings account there are companies out there doing exactly this for specific nations and I've worked in an organization or lots of services doing precisely that I can say it does not always feel efficient and it does develop more work I know we're not purposely doing that we're not producing extra work for anyone where we do not need to and anyone that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe many reasons one is it's the requirement I think people have actually got so used to we require a new bank 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 the people have embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to type of do it so I think there's a variety I think this is a procedure that needs taking a look at it requires altering but ultimately people are really stuck to what they're familiar
with ideal um change is a tough thing all of us don't like modification um so I think it's just kind of moving far from the norm 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 several checking account but there's a substantial quantity of intricacy chooses establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for specific individuals so the intricacy is big however I think the truthful answer is modification um people haven't had the ability to change or haven't had always the understanding to really make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century or two there is a lot to keep track of and this technique does pose a number of challenges um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I simply did you changed 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 Worldwide staff members you deserve a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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