Find out more about Papaya Global Cost Calculator ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to managing payments. This offers us with a secure and reputable method of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Employee Website supplies workers with the ability to gain access to and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists business provide competitive advantages packages to international employees regardless of the number of workers in the business. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local advantages providers in every nation, produce regional accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, overall work expenses dispersed per place, overall employment expenses per cycle and far more.
Worldwide, I have actually shown management and tactical proficiency in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for managing payroll strategies, as discussed by Mark. My function involves managing and developing external partnerships, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a global business, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We specialize in providing payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to meet you and thank you for your valuable time. As Ian mentioned, 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 options for the past 7 years. The intricacies and challenges of this field have actually constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I've type of had a range of different functions on the service provider side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I actually 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 really dreary and I want I was elsewhere at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies keep separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is especially beneficial for global companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining different bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more structured service. 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 provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, find out how business forecast payroll costs to enhance working capital, and discover how enhancing global payroll payments can change them from a burdensome task into a tactical property.
Managing payroll internationally is a difficult task due to various guidelines, compliance requirements, information security issues, and banking rules. The large variety of staff members and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and a lack of combination, causing disparities and inefficiencies. Despite residing in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to provide insights and options to simplify and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that provides me sleepless nights and rather honestly the more a company invests in global payroll the less of a picture they see a lack of visibility also extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of international companies have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes poorly communicated hires and terminations as well as absence management and system setups and then when you round all of it off and the information is shipped to the incorrect place the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the essential multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they're paying to staff members or otherwise that's a great concern I always toss this back and say what is it what doesn't need to be consisted of best and what does
it require to be thought about there's varying Bank information 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link 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 kind of progress with that it likewise also to add to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and finance groups work more detailed together than ever um I'm always surprised when individuals state I've divided 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 calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on well-being and the settlement landscape is becoming progressively intricate. Organizations are continually presenting brand-new advantages and payment options, which contributes to the total intricacy. Big corporations frequently divide their payroll and payment processing into separate teams, which can lead to inadequacies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technologically innovative period, there's no validation for keeping troublesome treatments. Payroll, the company's most significant expenditure, should be processed properly and on time. Even small hold-ups can adversely impact employees' wellness and have far-reaching consequences. For that reason, it's important to prioritize precise and prompt payments.
payroll team get um so I'm not sure anyone on this kind of webinar has actually been told 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 we all become aware of it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this things is done correctly so leveraging the very first Global Payments first payroll payment solution is a fantastic first step um supplying an end-to-end payroll option for your staff members worldwide once again I think is another huge um procedure once again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely key to success success of services and lowering the number of tools platforms and checking 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 have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know how how important 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 simple as possible for everybody that's associated with those processes and likewise so imagine sorry I'm just I was simply gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job attempting to clean 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 need days of the week to attempt to check out them and really see what was going on and type of try to get back to everybody so moving on look why do business pick to main separate savings account there are services out there doing exactly this for specific countries and I have actually worked in a company or lots of organizations doing precisely that I can say it doesn't always feel effective and it does produce more work I understand we're not intentionally doing that we're not developing additional work for any person where we don't have to and anyone that's handling 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 amount that we are I think many factors one is it's the standard I think people have actually got so utilized to we need 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 requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I believe this is a process that needs looking at it requires altering but eventually individuals are extremely stuck to what they're familiar
with best um change is a hard thing all of us don't like modification um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having preserving numerous savings account but there's a huge amount of intricacy chooses establishing a checking account keeping it guaranteeing 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 modification um people haven't had the ability to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to keep track of and this method does pose a number of difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you deserve a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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