Find out more about Papaya Global Argentina ... 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 acquired a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and secure and reputable approach of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
Worker Website
Employees have access to a Worker Website where they can view their pay slips, wage and tax statements and employment files. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to international employees no matter the variety of employees in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source local benefits suppliers in every nation, create local accounts and have a minimum variety of staff members.
The HR abilities provided by Worldwide HR include numerous functions such as keeping track of holiday time, guaranteeing compliance, helping with the process of welcoming brand-new employees and bidding goodbye to departing ones, offering a safe online platform for saving workers' documents, and providing support for work allow procedures in case your employees need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall employment costs distributed per area, total employment expenses per cycle and much more.
Worldwide, I have actually shown management and strategic proficiency in directing massive populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for managing payroll methods, as mentioned by Mark. My function involves managing and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The intricacies and challenges of this field have constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually type of had a range of different functions on the supplier side and likewise on the supplier side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling 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 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 expenses using virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic property uh we'll likewise discuss a wrap-up which ought to leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become increasingly more common and handling them becomes increasingly more complicated Worldwide organizations are seeking to find Solutions and brand-new methods to enhance procedures specifically from a payroll and cross-border payment viewpoint many companies maintain separate bank account just for payroll while some have several accounts in different countries does it make sense for companies to maintain separate savings account in some cases in various countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting international companies streamline the episode complex processes of
Ensuring precise, efficient, and timely payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business anticipate payroll expenses to enhance working capital, and discover how enhancing global payroll payments can change them from a burdensome task into a tactical property.
Handling payroll globally is an overwhelming job due to various policies, compliance requirements, data security concerns, and banking rules. The large number of employees and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems often result in manual procedures, information silos, and a lack of combination, leading to inconsistencies and ineffectiveness. Despite residing in an age of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and options to simplify and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of a photo they see a lack of exposure likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide services have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors poorly communicated 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 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 require to move the money around the world payroll and payments do not run smoothly if they depend on the essential several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties organization face when they're making payments to workers or otherwise that's a great concern I always toss this back and say what is it what does not need to be included right 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 time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look best ultimately developing a knowledge base is absolutely vital however all over you look with payroll payment they are like very payments no if however some children 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 think there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to sort of move forward with that it also too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is definitely vital that payroll and financing groups work closer together than ever um I'm always impressed when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split 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 eventually it's payroll is an end-to-end procedure 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
The modern-day world puts a high value on wellness and the payment landscape is ending up being progressively complex. Services are continually presenting brand-new benefits and payment choices, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into different groups, which can cause inefficiencies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's technologically innovative era, there's no validation for keeping cumbersome treatments. Payroll, the business's biggest cost, need to be processed properly and on time. Even minor delays can negatively impact employees' well-being and have significant repercussions. Therefore, it's important to prioritize precise and prompt payments.
payroll group get um so I'm not sure anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an important cycle we all hear about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment solution is a fantastic first step um providing an end-to-end payroll option for your workers internationally once again I think is another huge um procedure once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of businesses and lowering the number of tools platforms and bank accounts they require for their International 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 ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyway we understand how how crucial a function 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 everyone that's associated with those processes and likewise so think of sorry I'm just I was simply gon na state envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job 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 try to look through them and really see what was going on and type of try to get back to everybody so proceeding appearance why do companies pick to main different savings account there are companies out there doing precisely this for specific nations and I've worked in a service or numerous businesses doing precisely that I can say it doesn't always feel effective and it does develop more work I understand we're not purposely doing that we're not creating additional work for anybody where we do not need to and anyone that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous factors one is it's the standard I think individuals have got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I think this is a process that requires taking a look at it requires altering but eventually people are extremely stuck with what they recognize
with best um modification is a challenging thing we all do not like change um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having keeping multiple bank accounts but there's a huge quantity of intricacy chooses setting up a savings account keeping it ensuring it can send 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 answer is change um people have not had the ability to alter or have not had always the understanding to really make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to track and this approach does present a number of obstacles 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 change to our Business 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 enhanced ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your achievements.
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