Find out more about Papaya Global Cuba ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a secure and reliable approach of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, saving me a significant amount of time monthly. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Worker Portal supplies employees with the capability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global helps companies offer competitive advantages packages to worldwide staff members despite the variety of workers in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source regional benefits service providers in every nation, produce local accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total work costs dispersed per location, overall employment expenses per cycle and far more.
Globally, I have demonstrated leadership and strategic competence in directing large-scale populations of over 100,000 employees across 170 countries. Currently, I are accountable for overseeing payroll methods, as discussed by Mark. My function involves handling and developing external collaborations, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to fulfill 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 industry, I have actually concentrated on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually sort of had a variety of different functions on the company side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting 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 everybody originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really really dreary and I want I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies maintain separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical asset uh we'll also discuss a wrap-up which should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more common and managing them ends up being a growing number of complex International companies are aiming to discover Solutions and new methods to enhance processes specifically from a payroll and cross-border payment perspective many organizations keep separate checking account just for payroll while some have several accounts in various countries does it make sense for business to maintain different checking account in some cases in various countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies streamline the episode complex processes of
Ensuring accurate, efficient, and prompt payroll payments is a complex obstacle for companies operating worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, learn how companies anticipate payroll expenses to enhance working capital, and find how simplifying international payroll payments can transform them from a challenging job into a strategic asset.
Handling payroll internationally is a challenging task due to different policies, compliance requirements, data security concerns, and banking guidelines. The sheer variety of staff members and services contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems typically lead to manual processes, information silos, and a lack of combination, leading to inconsistencies and inefficiencies. Despite living in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to offer insights and options to simplify and optimize worldwide payroll payments.
about it to offer 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 offers me sleepless nights and rather frankly the more an organization invests in global payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal almost half of global companies have actually revealed 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 information information entry mistakes improperly communicated hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is delivered to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they depend on the needed several procedures 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 challenges business face when they're paying to workers or otherwise that's an excellent question I always throw this back and say what is it what does not require to be consisted of right and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 consumer's own in-country account so there's intricacy wherever you look ideal eventually constructing a knowledge base is absolutely important but all over you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and technology is permitting us to kind of move on with that it also too to add to that payroll and financing need to work closer together um with differing Savings account Details differing banking requirements and setup procedures is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm constantly surprised when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 often 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 any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on wellness and the settlement landscape is ending up being increasingly elaborate. Businesses are continuously introducing new benefits and payment alternatives, which adds to the general complexity. Large corporations frequently divide their payroll and payment processing into separate teams, which can lead to inefficiencies and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's technically advanced era, there's no validation for preserving troublesome procedures. Payroll, the business's greatest expenditure, must be processed properly and on time. Even minor hold-ups can adversely impact workers' wellness and have significant consequences. For that reason, it's crucial to prioritize precise and prompt payments.
payroll group get um so I'm uncertain anybody on this kind 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 essential cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think 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 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 primary step um providing an end-to-end payroll option for your employees internationally again I think is another big um procedure once again aligning and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of businesses and decreasing the variety of tools platforms and bank accounts they need for their Worldwide 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've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyhow we understand how how important 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 simple as possible for everybody that's involved in those processes and also so think of sorry I'm simply I was simply gon na say envision 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 speaking about hundreds of thousands possibly Millions envision getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating 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 require days of the week to attempt to browse them and actually see what was going on and type of try to get back to everybody so proceeding appearance why do business pick to primary separate bank accounts there are services out there doing exactly this for particular countries and I have actually worked in a company or many 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 extra work for anyone where we do not have to and anyone that's managing that process 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 lots of factors one is it's the requirement I believe people have actually got so used to we require a new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I believe this is a procedure that requires taking a look at it requires altering but ultimately people are really stuck to what they're familiar
with best um modification is a challenging thing all of us do not like change um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having keeping multiple bank accounts however there's a big amount of complexity opts for establishing a bank account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific people so the intricacy is huge however I believe the honest answer is change um individuals haven't been able to change or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change but we've 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 know what might nearly be figured out to be the next Century or so there is a lot to keep track of and this approach does position a number of challenges um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I simply did you changed 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 workers you are worthy of a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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