Find out more about Papaya Global Jamaica ... We now have the capability to handle 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 specifically dedicated to handling payments. This provides us with a secure and dependable method of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
The Staff member Website provides employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to international staff members no matter the variety of staff members in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages suppliers in every nation, create local accounts and have a minimum variety of employees.
The HR capabilities supplied by Global HR incorporate different functions such as keeping track of holiday time, ensuring compliance, assisting in the procedure of welcoming new workers and bidding farewell to departing ones, using a safe and secure online platform for keeping workers' documents, and providing assistance for work allow treatments in case your workers require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total work costs dispersed per area, overall work expenses per cycle and far more.
Worldwide, I have demonstrated management and strategic expertise in assisting massive populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for managing payroll techniques, as pointed out by Mark. My function involves handling and establishing external collaborations, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for a lot of prominent companies worldwide we provide payroll payments and labor force management to all staff member types in over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon good night depending on where you are in the world it's charming to satisfy you and thank you very much for your time as Ian said 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 specifically dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've sort of had a variety of different functions on the company side and likewise on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating 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 actually do hope it's much sunnier than it is 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 extremely really bleak and I want I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business maintain different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll likewise discuss a wrap-up which should leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more typical and handling them becomes a growing number of intricate Global organizations are aiming to discover Solutions and brand-new ways to improve procedures specifically from a payroll and cross-border payment perspective numerous organizations keep different checking account just for payroll while some have numerous accounts in various countries does it make sense for business to maintain separate savings account in some cases in various nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational companies enhance the episode complex procedures of
Ensuring accurate, effective, and prompt payroll payments is a complex difficulty for businesses running worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how business anticipate payroll expenses to enhance working capital, and find how streamlining worldwide payroll payments can change them from a difficult job into a tactical property.
Managing payroll internationally is a daunting job due to different guidelines, compliance requirements, information security issues, and banking guidelines. The sheer number of workers and services contributes to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual processes, information silos, and an absence of combination, resulting in disparities and inadequacies. Regardless of residing in an age of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to supply insights and services to simplify and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more a service spends on worldwide payroll the less of a picture they see a lack of exposure also encompasses payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of international businesses have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors improperly communicated hires and terminations as well as absence management and system setups and after that when you round it all off and the information is shipped to the wrong place the average cost of a global information 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 count on the needed several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges company face when they're making payments to employees or otherwise that's an excellent question I always throw this back and state what is it what does not need to be included right and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy wherever you look best eventually constructing a knowledge base is absolutely vital however all over you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to type of move forward with that it also too to contribute to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely vital that payroll and finance teams work better together than ever um I'm always impressed when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are however 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 ending up being progressively elaborate. Organizations are constantly introducing new benefits and payment choices, which adds to the total complexity. Big corporations often divide their payroll and payment processing into separate teams, which can lead to inadequacies and bottlenecks. In my opinion, this does not need to be the case. In today's technically advanced era, there's no validation for maintaining troublesome procedures. Payroll, the business's greatest cost, need to be processed properly and on time. Even minor delays can negatively impact workers' wellness and have significant repercussions. For that reason, it's vital to prioritize precise and timely payments.
payroll team get um so I'm unsure anyone 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 workers or not um but eventually payroll is such a crucial cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise 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 definitely important that all of this things is done properly so leveraging the first International Payments very first payroll payment option is a terrific first step um supplying an end-to-end payroll option for your workers globally again I think is another huge um procedure again aligning and ensuring you have standardization International processes all of those things are absolutely key to success success of services and decreasing the variety of tools platforms and savings account they require for their Global payroll too could not agree with you more and on the the front in regards to 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 5 or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're implied 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 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 processes and likewise so envision sorry I'm just I was just gon na state picture 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 discussing numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and actually see what was going on and type of try to get back to everyone so carrying on look why do companies pick to primary different bank accounts there are businesses out there doing exactly this for specific nations and I have actually worked in a business or numerous businesses doing precisely that I can state it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating additional work for anyone where we don't have to and anybody that's handling 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 quantity that we are I believe many factors one is it's the requirement I think people have actually got so utilized to we require a new savings account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have actually embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and many other ways um to to type of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires changing but eventually people are extremely stuck with what they're familiar
with ideal um change is a hard thing we all don't like change um so I believe it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having keeping numerous checking account however there's a substantial amount of complexity chooses setting up a checking account preserving it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is huge but I believe the sincere response is modification um individuals haven't had the ability to change or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I think it is knowledge you know and there is an element of resistance to alter but we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century approximately there is a lot to keep track of and this method does position numerous difficulties um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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