Find out more about Papaya Global Payroll Pay Bonus ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and dependable method of paying to our 10,000 staff members worldwide.}
The advanced global payroll management app improves my payroll process, conserving me a considerable quantity of time each month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Staff member Portal
Employees have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work files. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive advantages plans to worldwide workers despite the variety of staff members in the business. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source regional benefits companies in every country, develop regional accounts and have a minimum number of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total employment costs distributed per place, total employment costs per cycle and a lot more.
Globally, I have actually demonstrated management and tactical competence in guiding large-scale populations of over 100,000 workers across 170 nations. Currently, I am responsible for managing payroll strategies, as discussed by Mark. My function includes handling and establishing external partnerships, supporting Enterprise customers, and offering advisory services. In addition, 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 the majority of influential companies worldwide we supply payroll payments and labor force management to all worker key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon good night depending upon where you are in the world it's lovely to fulfill 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 remained in the payments industry for over 10 years and particularly working on 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 chose to type of make a real go at that over the last 5 or 6 years where I've kind of had a variety of different functions on the company side and also on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely bleak and I want I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies preserve different
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of preserving separate savings account for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic possession 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.
Ensuring accurate, efficient, and timely payroll payments is a complex obstacle for companies running internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, learn how business forecast payroll costs to optimize working capital, and find how streamlining worldwide payroll payments can change them from a difficult task into a tactical possession.
Managing payroll globally is an overwhelming task due to various regulations, compliance requirements, information security issues, and banking rules. The large variety of employees and organizations adds to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual processes, data silos, and a lack of integration, leading to inconsistencies and inadequacies. Regardless of living in a period of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to supply insights and solutions to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization spends on worldwide payroll the less of a picture they see a lack of visibility also extends to payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of global companies have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information information entry mistakes poorly communicated hires and terminations as well as lack management and system configurations and after that when you round all of it off and the data is delivered to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they count on the needed numerous 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 difficulties organization face when they're making payments to workers or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be included ideal and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities 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 customer's own in-country account so there's complexity wherever you look right eventually developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like incredibly 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 essential and technology is allowing us to sort of progress with that it also too to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely crucial that payroll and finance teams work better together than ever um I'm constantly astonished when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation 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 procedure it's the point of data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on wellness and the settlement landscape is ending up being significantly elaborate. Companies are constantly introducing new advantages and payment options, which adds to the overall intricacy. Big corporations often divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my opinion, this does not have to be the case. In today's technically innovative period, there's no validation for maintaining troublesome procedures. Payroll, the business's most significant expenditure, must be processed correctly and on time. Even small delays can negatively impact staff members' well-being and have far-reaching repercussions. For that reason, it's crucial to focus on accurate and prompt payments.
The payroll group might not have been thanked for correctly processing payroll throughout 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 just notice when things fail. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's viewed externally as well. For that reason, it is essential to ensure that jobs like Wi-Fi Global and other crucial matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment solution is a fantastic preliminary action towards supplying an extensive payroll solution for workers worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and checking account essential for international payroll are crucial factors in accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things don't go as prepared. Ultimately, we do not do it for the thankfulness.
anyway we understand 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 simple as possible for everybody that's involved in those procedures and likewise so think of sorry I'm simply I was just gon na say imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions think of 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 certainly be an interesting job trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and in fact see what was going on and kind of try to return to everyone so moving on appearance why do companies select to main different bank accounts there are companies out there doing precisely this for particular nations and I have actually worked in a service or lots of services doing exactly that I can state it does not always feel efficient and it does create more work I know we're not purposely doing that we're not developing extra work for anyone where we don't need to and any person 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 think many factors one is it's the standard I think people have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals 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 numerous other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs looking at it requires changing however ultimately individuals are very stuck with what they're familiar
with right um change is a difficult thing we all don't like change um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having maintaining several bank accounts but there's a substantial amount of complexity opts for setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for specific people so the intricacy is substantial however I think the honest answer is modification um people have not been able to change or have not had always the knowledge to really make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to change but we've 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 almost be identified to be the next Century or so there is a lot to keep an eye on and this approach does position a number of difficulties um so Johnny might you tell us about those challenges yeah naturally 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 gotten another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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