Find out more about Papaya Global Payroll Tulsa Ok ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and secure and dependable method of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Staff member Website supplies workers with the ability to access and view important files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps companies use competitive advantages bundles to global staff members no matter the number of workers in the company. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source regional benefits companies in every country, produce regional accounts and have a minimum variety of workers.
The HR capabilities offered by International HR include numerous functions such as monitoring vacation time, making sure compliance, helping with the procedure of welcoming new workers and bidding farewell to departing ones, offering a safe and secure online platform for keeping employees' documents, and offering assistance for work allow procedures in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall work expenses distributed per location, total work expenses per cycle and far more.
Globally, I have demonstrated management and tactical proficiency in guiding massive populations of over 100,000 staff members throughout 170 nations. Currently, I are accountable for managing payroll strategies, as discussed by Mark. My role includes handling and establishing external partnerships, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
business to make the time 100 list for most prominent business worldwide we provide payroll payments and workforce management to all employee types in over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon excellent night depending upon where you are in the world it's beautiful 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 remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've sort of had a range of different functions on the supplier side and also on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds or so 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 type of like see where everyone originates from and I actually 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 drizzling here it's extremely really uninspiring and I wish I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business preserve separate
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different savings account for payroll in various nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic 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 securely and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of reasons most importantly guidelines compliance information security and banking guidelines then there are the large numbers they include additional intricacy the global Labor force is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the globe in the standard payroll design there's typically a frustrating variety of different systems causing time-consuming manual procedures and silos the number of Combinations could be non-existent in large quantities and or really extremely fundamental there's no real consistency framework we're living in a period of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more an organization spends on global payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global services have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly interacted hires and terminations as well as absence management and system setups and after that when you round all of it off and the information is shipped to the wrong place the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they rely on the essential multiple 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 company face when they're paying to workers or otherwise that's a good concern I always toss this back and say what is it what doesn't require to be included ideal and what does
it need to be considered 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 anywhere you look best eventually developing a knowledge base is absolutely important but everywhere you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the type 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 definitely fundamental and technology is allowing us to type of move on with that it also also to add to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely imperative that payroll and finance groups work closer together than ever um I'm constantly impressed when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry 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 people any place they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on wellness and the compensation landscape is ending up being progressively intricate. Companies are continuously introducing brand-new advantages and payment options, which contributes to the overall complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can cause inefficiencies and bottlenecks. In my opinion, this doesn't need to be the case. In today's highly sophisticated age, there's no reason for preserving troublesome treatments. Payroll, the company's biggest cost, should be processed correctly and on time. Even slight delays can negatively affect workers' well-being and have far-reaching consequences. Therefore, it's crucial to prioritize precise and timely payments.
payroll team get um so I'm not exactly sure anyone on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle we all find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment service is a great primary step um offering an end-to-end payroll solution for your workers worldwide once again I think is another substantial um process again lining up and ensuring you have standardization International procedures all of those things are absolutely crucial to success success of companies and reducing the number of tools platforms and bank accounts they require for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand how how essential 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 everyone that's involved in those processes and likewise so picture sorry I'm just I was just gon na state think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and really see what was going on and sort of try to get back to everybody so proceeding look why do companies choose to primary different checking account there are services out there doing exactly this for particular nations and I've operated in an organization or numerous services doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not producing extra work for anybody where we don't have to and any person that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many reasons one is it's the standard I believe individuals have actually got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I believe this is a process that needs looking at it needs changing but ultimately people are extremely stuck with what they're familiar
with right um change is a tough thing we all do not like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having keeping several checking account however there's a huge quantity of intricacy chooses setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for specific individuals so the intricacy is huge however I believe the honest response is modification um people have not been able to alter or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we've constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might practically be identified to be the next Century or two there is a lot to keep track of and this technique does pose 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 just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your achievements.
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