Find out more about Papaya Global Belgium ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a secure and trusted technique of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app enhances my payroll procedure, conserving me a considerable amount of time every month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Staff member Website offers staff members with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Benefits Administration
Papaya Global assists business provide competitive benefits bundles to worldwide staff members regardless of the number of staff members in the company. The business can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local advantages service providers in every country, create local accounts and have a minimum number of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall employment costs distributed per location, overall work costs per cycle and a lot more.
Globally, I have actually demonstrated leadership and tactical competence in directing massive populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for overseeing payroll methods, as discussed by Mark. My role includes managing and developing external collaborations, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment options for the past 7 years. The complexities and challenges of this field have always mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of various roles on the company side and also on the supplier side from a payroll point of view so really anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everyone another number 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 quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it is 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 really very dreary and I wish I was somewhere else at this moment in time okay so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies keep different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly useful for worldwide organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of keeping separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for businesses operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, find out how business anticipate payroll costs to enhance working capital, and find how streamlining international payroll payments can change them from a troublesome job into a tactical asset.
Managing payroll worldwide is an overwhelming task due to different regulations, compliance requirements, data security issues, and banking rules. The sheer variety of employees and companies adds to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently lead to manual processes, data silos, and an absence of integration, causing inconsistencies and ineffectiveness. In spite of residing in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to supply insights and options to simplify and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that offers me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of an image they see an absence of exposure also reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of global services have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes badly communicated hires and terminations as well as lack management and system setups and then when you round it all off and the data is shipped to the wrong place the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly 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 needs to be factored into the challenges organization face when they're paying to workers or otherwise that's a great question I constantly throw this back and say what is it what doesn't need to be consisted of ideal and what does
it require 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 abilities 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 consumer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is absolutely vital however 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 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 basic and innovation is enabling us to kind of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work closer together than ever um I'm constantly surprised when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on well-being and the payment landscape is becoming increasingly intricate. Companies are continuously presenting new advantages and payment alternatives, which adds to the overall complexity. Large corporations often divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my opinion, this does not need to hold true. In today's highly innovative era, there's no reason for maintaining cumbersome procedures. Payroll, the business's biggest expenditure, should be processed properly and on time. Even minor hold-ups can negatively affect workers' well-being and have significant effects. For that reason, it's important to prioritize accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however 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 exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment service is an excellent primary step um supplying an end-to-end payroll option for your workers globally once again I think is another substantial um process again aligning and ensuring you have standardization International procedures all of those things are absolutely essential to success success of businesses and reducing the variety of tools platforms and checking account they need for their International payroll too could not 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 countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're meant to be um I do not think any of us are in fact doing that for for the thanks
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 everyone that's associated with those procedures and likewise so picture sorry I'm just I was simply gon na say think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions envision getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and in fact see what was going on and type of try to return to everyone so proceeding appearance why do business choose to main different checking account there are organizations out there doing precisely this for specific countries and I have actually operated in an organization or lots of businesses doing exactly that I can say it doesn't constantly feel effective and it does produce more work I know we're not purposely doing that we're not creating additional work for anybody where we do not need to and any person that's dealing with 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 believe lots of reasons one is it's the requirement I think individuals have got so used to we need a brand-new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard 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 numerous other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs looking at it needs altering however ultimately people are extremely stuck to what they're familiar
with right um modification is a tough thing all of us do not like change um so I think it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having keeping several bank accounts however there's a huge amount of complexity opts for establishing a checking account preserving it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for specific individuals so the complexity is big however I think the truthful response is change um individuals haven't had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking 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 alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be figured out to be the next Century approximately there is a lot to keep an eye on and this method does position a number of difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I just did you switched 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 should have a corner workplace with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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