Find out more about Papaya Global Armenia ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to handling payments. This supplies us with a secure and trustworthy approach of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app improves my payroll procedure, saving me a substantial quantity of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Staff member Portal
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive benefits bundles to global workers no matter the variety of workers in the business. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local advantages suppliers in every country, develop local accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work costs distributed per place, overall employment expenses per cycle and much more.
Worldwide, I have shown management and strategic know-how in guiding large-scale populations of over 100,000 workers across 170 nations. Presently, I am responsible for managing payroll methods, as mentioned by Mark. My function involves managing and developing external collaborations, supporting Business clients, and providing advisory services. Additionally, 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 a lot of influential companies worldwide we supply payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon great night depending on where you remain in the world it's lovely to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've sort of had a range of various functions on the provider side and also on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very extremely uninspiring and I wish I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll also review a recap which must leave his time at the very really end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of typical and managing them ends up being more and more complicated Global companies are looking to discover Solutions and brand-new ways to enhance procedures specifically from a payroll and cross-border payment perspective numerous organizations keep separate savings account just for payroll while some have numerous accounts in different countries does it make sense for business to preserve different bank accounts sometimes in various countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies streamline the episode complex processes of
Making sure precise, efficient, and prompt payroll payments is a complex obstacle for organizations operating internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, discover how companies forecast payroll expenses to optimize working capital, and find how simplifying global payroll payments can change them from a burdensome task into a tactical property.
Managing payroll internationally is a complicated job due to various policies, compliance requirements, data security concerns, and banking guidelines. The sheer number of staff members and services adds to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems typically lead to manual procedures, information silos, and an absence of integration, resulting in disparities and inefficiencies. Despite living in an era of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar objectives to supply insights and solutions to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more a company invests in worldwide payroll the less of an image they see a lack of presence also encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of international services 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 poor HCM information information entry mistakes improperly communicated hires and terminations in addition to absence management and system setups and then when you round everything off and the information is shipped to the wrong place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they rely on the essential several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're making payments to staff members or otherwise that's a great question I constantly toss this back and state what is it what doesn't need to be included best and what does
it require to be thought of there's varying Bank information 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 customer's own in-country account so there's complexity anywhere you look best eventually constructing a knowledge base is absolutely critical but all over 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 sort 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 type of move forward with that it likewise also to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely important that payroll and finance teams work more detailed together than ever um I'm always impressed when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide 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 process it's the point of data collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on wellness and the compensation landscape is becoming increasingly complex. Businesses are continuously presenting brand-new benefits and payment choices, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this does not need to be the case. In today's technically advanced age, there's no justification for preserving cumbersome procedures. Payroll, the company's biggest expense, should be processed correctly and on time. Even minor hold-ups can adversely affect workers' wellness and have far-reaching effects. For that reason, it's important to focus on precise and prompt payments.
payroll group get um so I'm not exactly sure anybody on this type of webinar has 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 employees or not um but eventually payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment solution is an excellent primary step um providing an end-to-end payroll solution for your staff members internationally again I believe is another big um procedure once again aligning and ensuring you have standardization Global procedures all of those things are definitely essential to success success of organizations and decreasing the variety of tools platforms and savings account they need for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone rather where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyhow we know how how important a role 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 simple as possible for everybody that's involved in those processes and likewise so envision sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and actually see what was going on and type of try to get back to everybody so carrying on appearance why do business pick to main separate checking account there are organizations out there doing precisely this for specific nations and I have actually worked in a service or lots of businesses doing precisely that I can say it does not always feel effective and it does create more work I understand we're not deliberately doing that we're not creating extra work for anybody where we do not have 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 amount that we are I think numerous factors one is it's the standard I believe individuals have actually got so used to we need a new savings account we open an entity and rightly so you require 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 requirement and the norm individuals have adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I think this is a procedure that needs looking at it needs altering but ultimately individuals are very stuck to what they recognize
with ideal um modification is a hard thing we all do not like change um so I believe it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having preserving numerous bank accounts however there's a big amount of intricacy chooses establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is substantial however I believe the honest answer is change um individuals haven't had the ability to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you know and there is a component of resistance to change but we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might almost be identified to be the next Century approximately there is a lot to monitor and this technique does position several 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 change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your accomplishments.
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