Find out more about Papaya Global Italy ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and trustworthy technique of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app simplifies my payroll procedure, saving me a substantial quantity of time each month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Staff member Portal
Workers have access to an Employee Website where they can view their pay slips, wage and tax declarations and work files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive benefits packages to international workers despite the variety of employees in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source local benefits service providers in every country, produce local accounts and have a minimum number of workers.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall employment costs dispersed per place, total employment expenses per cycle and far more.
Internationally, I have shown management and strategic expertise in guiding large-scale populations of over 100,000 staff members across 170 countries. Currently, I am responsible for overseeing payroll strategies, as discussed by Mark. My role includes managing and establishing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
business to make the time 100 list for a lot of influential companies worldwide we offer payroll payments and workforce management to all worker enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon good evening depending upon where you are in the world it's charming to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of different functions on the company side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everybody another number 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 intriguing and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really really gloomy and I wish I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies preserve separate
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different savings account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex difficulty for businesses operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, discover how business anticipate payroll expenses to optimize working capital, and find how enhancing global payroll payments can transform them from a challenging task into a tactical possession.
Handling payroll worldwide is a difficult job due to various regulations, compliance requirements, information security issues, and banking guidelines. The large variety of staff members and organizations adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of combination, leading to disparities and ineffectiveness. In spite of living in an era of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to provide insights and services 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 services state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more a company invests in worldwide payroll the less of an image they see an absence of presence also reaches payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the deal almost half of global companies have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes inadequately interacted hires and terminations as well as absence management and system configurations and then when you round all of it off and the information is delivered to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they rely on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't require to be included right and what does
it need 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 timespan 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 any place you look right ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is permitting us to kind of move forward with that it likewise as well to add to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work more detailed together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of essential to add to sort of the level of complexity there's more and more advantages being organ or being offered by services throughout the world so again you're just seeking to include increasingly more payments to this currently complicated landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real challenges or genuine tough kind of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding information into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to develop additional handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they don't make them what they need to be in in an age of tech and an era that you know that we are operating in today there is no reason that we are still making this as tough as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any organization has from a cost viewpoint from an effect point of view on workers it is absolutely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive effect on individuals's well-being and many other aspects if individuals aren't paid uh I have actually always been surprised entering this Market type of the last five to ten years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just observe when things fail. However, when things go right, it's seen as simply a routine job. This is how it's viewed externally as well. Therefore, it is essential to ensure that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the first International Payments first payroll payment option is a fantastic preliminary step towards offering an extensive payroll option for employees worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and bank accounts necessary for international payroll are key consider attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyway we know how how crucial 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 also so imagine sorry I'm simply I was simply gon na state think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job trying 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 attempt to look through them and actually see what was going on and kind of shot to get back to everyone so proceeding look why do business select to primary different bank accounts there are services out there doing exactly this for particular nations and I've worked in a business or many businesses doing exactly that I can state it does not always feel effective and it does create more work I know we're not purposely doing that we're not developing additional work for any person where we do not need to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think numerous reasons one is it's the requirement I think people have actually got so used to we require a brand-new bank account we open an entity and rightly 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 just been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I believe this is a procedure that requires looking at it needs altering however ultimately people are extremely stuck with what they're familiar
with best um change is a hard thing all of us do not like modification um so I believe 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 understand clearly the benefits of having keeping numerous checking account but there's a huge quantity of intricacy goes with setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private people so the complexity is huge but I think the truthful response is modification um individuals have not had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could practically be figured out to be the next Century approximately there is a lot to keep track of and this approach does posture numerous difficulties um so Johnny might you inform us about those obstacles yeah naturally so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you should have a corner workplace 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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