Find out more about Papaya Global Netsuite ... We now have the capability to manage 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 devoted to handling payments. This offers us with a safe and secure and trustworthy technique of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Staff member Website offers workers with the capability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global helps companies provide competitive advantages plans to worldwide workers regardless of the number of workers in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source local benefits service providers in every country, create local accounts and have a minimum variety of workers.
The HR capabilities supplied by Worldwide HR include different functions such as keeping an eye on trip time, making sure compliance, facilitating the procedure of welcoming new staff members and bidding goodbye to leaving ones, using a safe and secure online platform for keeping employees' files, and offering assistance for work permit procedures in case your workers need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, total employment expenses dispersed per area, overall work expenses per cycle and far more.
Worldwide, I have demonstrated management and strategic proficiency in guiding large-scale populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for supervising payroll methods, as mentioned by Mark. My function includes managing and developing external partnerships, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for the majority of prominent companies in the world we offer payroll payments and labor force management to all employee types in over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent night depending upon where you remain in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a range of various functions on the supplier side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody 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 drizzling here it's really very bleak and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll likewise review a recap which needs to leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more common and handling them ends up being more and more intricate Worldwide companies are looking to find Solutions and new ways to improve processes especially from a payroll and cross-border payment perspective numerous organizations preserve separate bank account just for payroll while some have several accounts in various countries does it make good sense for companies to maintain separate savings account often in different countries it does however just for payroll is there a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies improve the episode complex processes of
Making sure precise, efficient, and prompt payroll payments is a complex obstacle for organizations running worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, discover how business anticipate payroll costs to optimize working capital, and find how enhancing global payroll payments can change them from a troublesome job into a tactical property.
Handling payroll worldwide is a challenging task due to various regulations, compliance requirements, data security issues, and banking rules. The large variety of employees and services adds to the complexity, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently lead to manual procedures, information silos, and a lack of integration, causing disparities and inadequacies. Despite residing 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 utilizing pen and paper. This webinar objectives to offer 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 organizations state they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more a business spends on worldwide payroll the less of an image they see an absence of visibility likewise extends to payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the transaction almost half of worldwide companies have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes poorly communicated hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the data is delivered to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they depend on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties company face when they're paying to staff members or otherwise that's a good question I constantly throw this back and state what is it what doesn't require to be included right and what does
it require 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 time frames 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 client's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is definitely important but all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you 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 fundamental and technology is permitting us to kind of move on with that it also too to contribute to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup processes is absolutely important that payroll and financing groups work closer together than ever um I'm always surprised when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on wellness and the payment landscape is ending up being significantly elaborate. Services are constantly presenting brand-new advantages and payment options, which adds to the general complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can result in inadequacies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technically sophisticated period, there's no reason for preserving troublesome treatments. Payroll, the company's most significant expense, should be processed correctly and on time. Even minor hold-ups can adversely affect workers' wellness and have significant repercussions. Therefore, it's crucial to focus on accurate and timely payments.
payroll team get um so I'm uncertain anyone on this type of webinar has actually been informed thank you for processing my payroll correctly 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 we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think 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 stuff is absolutely essential that all of this things is done properly so leveraging the first International Payments first payroll payment solution is a terrific initial step um providing an end-to-end payroll solution for your employees internationally again I think is another huge um process once again aligning and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of companies and decreasing the number 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 had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I don't think any of us are really doing that for for the thanks
anyway we know how how essential 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 just gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions think of getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting 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 need days of the week to attempt to look through them and in fact see what was going on and sort of try to return to everyone so moving on appearance why do business pick to primary separate savings account there are services out there doing precisely this for specific nations and I have actually worked in a company or many services doing exactly that I can say it does not constantly feel effective and it does develop more work I know we're not purposely doing that we're not creating extra work for anyone where we don't have to and anybody that's handling that procedure I 'd be interested to hear your thoughts 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 individuals have actually got so utilized to we require a brand-new savings account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I believe this is a procedure that needs looking at it requires changing but ultimately individuals are really stuck to what they're familiar
with ideal um change is a difficult thing all of us don't like modification um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having preserving several bank accounts however there's a substantial amount of intricacy opts for establishing a savings account preserving it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for private people so the complexity is substantial however I think the truthful answer is modification um people haven't had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to change but we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could almost be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does position numerous obstacles um so Johnny might you inform us about those difficulties yeah of course so there's a range 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 tasks on one platform. It feels like our CFO has actually gained another CFO, and with this improved capability, I have effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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