Find out more about Papaya Global No National Insurance Number ... 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 acquired a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a safe and trusted approach of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, conserving me a significant amount 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.
Worker Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and work documents. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive advantages bundles to worldwide staff members no matter the variety of workers in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages service providers in every country, produce regional accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work expenses dispersed per area, overall work costs per cycle and much more.
Globally, I have shown management and tactical competence in assisting massive populations of over 100,000 staff members throughout 170 nations. Currently, I are accountable for managing payroll strategies, as discussed by Mark. My role includes managing and developing external collaborations, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for most influential business on the planet we provide payroll payments and workforce management to all worker types in 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 of course thank you good morning great afternoon good evening depending upon where you remain in the world it's lovely to satisfy 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've been in the payments market for over 10 years and specifically working on the payroll and payment sector for over seven years um I was captivated by the complexity the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I've kind of had a variety of different roles on the company side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really really uninspiring and I want I was somewhere else at this moment in time fine so let's start 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
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical asset uh we'll likewise go over a recap and that needs to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more typical and managing them becomes increasingly more complex International organizations are wanting to find Solutions and new ways to simplify processes specifically from a payroll and cross-border payment viewpoint numerous organizations maintain different savings account just for payroll while some have numerous accounts in different nations does it make good sense for companies to keep separate bank accounts sometimes in different countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting international business improve the episode complex processes of
Ensuring accurate, effective, and timely payroll payments is a complex challenge for services operating internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, discover how business forecast payroll costs to enhance working capital, and discover how simplifying international payroll payments can change them from a difficult job into a tactical property.
Handling payroll worldwide is a difficult task due to various policies, compliance requirements, data security concerns, and banking guidelines. The sheer variety of staff members and businesses adds to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems often lead to manual procedures, data silos, and a lack of combination, leading to disparities and inefficiencies. Despite living in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to supply insights and solutions to streamline and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses 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 invests in international payroll the less of a photo they see a lack of visibility likewise extends to payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal almost half of worldwide services 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 errors are because of time reporting bad HCM data data entry errors poorly interacted hires and terminations along with absence management and system setups and after that when you round it all off and the information is delivered to the wrong place the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they count on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're making payments to staff members or otherwise that's a good concern I always toss this back and say what is it what does not need to be consisted of ideal 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 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 customer's own in-country account so there's intricacy wherever you look right eventually constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble super payments no if but some babies 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 acknowledgment that payroll payments are absolutely fundamental and technology is permitting us to sort of move on with that it also also 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 important that payroll and finance teams work more detailed together than ever um I'm constantly surprised when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation 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 also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on wellness and the settlement landscape is ending up being increasingly elaborate. Organizations are continuously introducing new benefits and payment alternatives, which adds to the total complexity. Large corporations typically divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my viewpoint, this does not have to be the case. In today's technologically innovative age, there's no reason for keeping troublesome treatments. Payroll, the company's biggest expenditure, should be processed properly and on time. Even slight delays can adversely impact employees' wellness and have far-reaching consequences. Therefore, it's critical to prioritize accurate and prompt payments.
payroll team get um so I'm unsure anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle we all become aware of it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely crucial that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment option is a fantastic primary step um providing an end-to-end payroll solution for your staff members internationally once again I think is another substantial um process again lining up and ensuring you have standardization Worldwide processes all of those things are definitely crucial to success success of companies and minimizing the number of tools platforms and bank accounts they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never 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 meant to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know how how essential 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 easy as possible for everybody that's involved in those processes and also so imagine sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions imagine getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing job attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and actually see what was going on and type of try to return to everybody so carrying on look why do companies select to main separate savings account there are organizations out there doing exactly this for specific countries and I've operated in a company or numerous companies doing exactly that I can state it doesn't constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not developing extra work for any person where we don't need to and any person that's managing that process 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 lots of reasons one is it's the standard I think people have actually 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 variety of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires altering however ultimately individuals are very stuck to what they recognize
with right um modification is a hard thing all of us don't like change um so I think 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 things um I understand certainly the benefits of having preserving numerous bank accounts however there's a substantial quantity of complexity opts for setting up a bank account preserving it ensuring it can send International transfers ensuring it's set up with the right user accesses for specific people so the intricacy is huge however I believe the honest answer is modification um people have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying 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 posture several obstacles um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your achievements.
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