Find out more about Papaya Global London ... 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 gotten a different Chief Financial Officer specifically dedicated to handling payments. This supplies us with a secure and reputable approach of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, saving me a substantial 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 specialists.
The Worker Portal offers workers with the ability to access and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global assists business use competitive advantages plans to international staff members despite the variety of workers in the company. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source regional advantages providers in every nation, produce regional accounts and have a minimum variety of employees.
The HR capabilities offered by International HR encompass numerous functions such as keeping track of vacation time, ensuring compliance, helping with the process of welcoming new workers and bidding goodbye to departing ones, using a safe online platform for saving employees' documents, and offering assistance for work allow treatments in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment expenses dispersed per location, overall work costs per cycle and much more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work across business handling and structure external relationships supporting Enterprise clients and solutions along with acting as an advisor for those of you that do not know who papaya International is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. 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 organization. With over a years of experience in the payments market, I have concentrated on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I've type of had a variety of various roles on the company side and also on the supplier side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it remains 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 very really dreary and I wish I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies maintain different
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured 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 asset for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and timely payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to optimize working capital, and find how enhancing international payroll payments can transform them from a difficult job into a strategic property.
Managing payroll worldwide is a challenging job due to numerous regulations, compliance requirements, data security issues, and banking guidelines. The sheer number of employees and organizations adds to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual procedures, data silos, and a lack of integration, leading to disparities and inadequacies. Regardless of living in an era of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to supply insights and solutions to simplify and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more a business invests in global payroll the less of a picture they see an absence of presence also encompasses payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly 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 mistakes are because of time reporting bad HCM data data entry errors poorly interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is delivered to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they count on the required multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles organization face when they're paying to employees or otherwise that's a great question I constantly toss this back and say what is it what does not require to be consisted of best and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity any place you look best eventually building a knowledge base is absolutely important however everywhere you look with payroll payment they are like very 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 between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to sort of move forward with that it likewise too to add to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely essential that payroll and financing teams work better together than ever um I'm always astonished when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market 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 individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more important to contribute to kind of the level of complexity there's more and more advantages being organ or being provided by organizations across the world so again you're just looking to include a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of real difficulties or real tough sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would definitely state that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding details into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we need to develop additional handoffs while doing sos that we run 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 working in today there is no reason that we are still making this as challenging as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any company has from an expense perspective from an effect point of view on employees it is absolutely important that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the greatest damaging result on individuals's wellness and many other factors if individuals aren't paid uh I've always been surprised coming into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anybody on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees 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 just 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 stuff is absolutely crucial that all of this things is done correctly so leveraging the first Global Payments very first payroll payment solution is a fantastic primary step um supplying an end-to-end payroll solution for your workers globally again I believe is another substantial um procedure once again aligning and guaranteeing you have standardization Global processes all of those things are absolutely crucial to success success of services and decreasing the number of tools platforms and savings account 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 countless 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 haven't gone rather where they're indicated to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand how how essential a role 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 easy as possible for everyone that's associated with those processes and also so envision sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions envision getting that lots of 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 definitely be an interesting job trying to clean 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 require days of the week to attempt to browse them and really see what was going on and kind of shot to get back to everyone so carrying on appearance why do business choose to primary separate savings account there are organizations out there doing precisely this for specific countries and I have actually worked in a service or lots of businesses doing exactly that I can state it does not always feel efficient and it does produce more work I know we're not deliberately doing that we're not developing additional work for anyone where we don't have to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the standard I believe people have got so utilized to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals have embraced and continue to do over years and years gone past to contribute 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 believe there's a range I believe this is a procedure that needs looking at it needs changing but eventually people are extremely stuck with what they're familiar
with ideal um change is a difficult thing all of us do not like modification um so I think it's simply kind of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having preserving multiple savings account but there's a substantial amount of complexity opts for establishing a checking account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for individual people so the complexity is substantial however I think the sincere response is change um people have not been able to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to change but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could almost be figured out to be the next Century approximately there is a lot to keep track of and this approach does position a number of challenges um so Johnny might you tell us about those challenges yeah naturally so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you deserve a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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