Find out more about Papaya Global Romania ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly devoted to managing payments. This provides us with a protected and trustworthy technique of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Worker Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to global employees despite the variety of staff members in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source regional advantages providers in every nation, produce local accounts and have a minimum number of workers.
The HR abilities provided by Worldwide HR include numerous functions such as keeping an eye on trip time, making sure compliance, facilitating the process of inviting new employees and bidding goodbye to departing ones, offering a secure online platform for storing workers' documents, and supplying assistance for work permit treatments in case your staff members need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total work costs distributed per area, total work expenses per cycle and much more.
Internationally, I have actually demonstrated management and tactical proficiency in directing large-scale populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for supervising payroll techniques, as discussed by Mark. My role involves managing and establishing external partnerships, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
company to make the time 100 list for most prominent companies on the planet we offer payroll payments and labor force management to all worker types in over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good evening depending on where you are in the world it's lovely to meet 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 10 years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually type of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll point of view 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 give everybody another couple of uh well one of 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 quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely bleak and I wish I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic asset uh we'll likewise go over a wrap-up which needs to 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 Global workforces become increasingly more typical and handling them becomes a growing number of complex International organizations are seeking to find Solutions and new ways to simplify procedures particularly from a payroll and cross-border payment viewpoint lots of organizations preserve different bank account just for payroll while some have numerous accounts in different countries does it make sense for companies to preserve separate savings account often in various nations it does however just for payroll is there a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies improve the episode complex procedures of
Guaranteeing precise, efficient, and timely payroll payments is a complex challenge for organizations operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to optimize working capital, and discover how streamlining worldwide payroll payments can change them from a difficult task into a strategic possession.
Handling payroll worldwide is a challenging job due to various policies, compliance requirements, information security issues, and banking rules. The sheer variety of workers and companies adds to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and an absence of combination, leading to inconsistencies and inefficiencies. Regardless of living in an era of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to supply insights and solutions 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 companies state they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more a business spends on global payroll the less of a photo they see a lack of exposure also encompasses payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of international companies have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors inadequately communicated hires and terminations along with absence management and system configurations and then when you round all of it off and the data is shipped to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they rely on the essential several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're paying 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 consisted of right and what does
it require to be considered there's differing 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 capabilities 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 customer's own in-country account so there's complexity wherever you look best eventually building a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble extremely payments no if however some infants 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 recognition that payroll payments are definitely essential and innovation is permitting us to kind of move on with that it likewise too to add to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely imperative that payroll and finance groups work better together than ever um I'm always surprised when individuals say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process 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 3rd parties so with the
The contemporary world places a high value on well-being and the payment landscape is becoming significantly complex. Services are continuously presenting brand-new benefits and payment alternatives, which adds to the general intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and bottlenecks. In my opinion, this does not have to be the case. In today's highly innovative era, there's no reason for maintaining troublesome treatments. Payroll, the business's most significant cost, must be processed properly and on time. Even minor hold-ups can negatively impact workers' well-being and have far-reaching effects. For that reason, it's important to prioritize precise and timely payments.
payroll team get um so I'm not exactly sure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle we all become aware of 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 view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this things is done correctly so leveraging the very first International Payments first payroll payment solution is a terrific first step um providing an end-to-end payroll solution for your staff members internationally once again I think is another big um procedure once again aligning and ensuring you have standardization Worldwide procedures all of those things are absolutely essential to success success of businesses and lowering the number of tools platforms and bank accounts they require for their International 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 have actually never had a hundred countless them within a payroll cycle don't expect 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 think any of us are in fact doing that for for the thanks
anyhow we understand how how important 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 likewise so picture sorry I'm just I was just gon na say think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task trying to clean up all those up for sure oh definitely I can't envision 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 shot to get back to everyone so carrying on appearance why do companies select to main different checking account there are businesses out there doing precisely this for specific nations and I've operated in an organization or lots of organizations doing precisely that I can state it does not constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not producing additional work for any person where we do not need to and anyone that's dealing with 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 lots of reasons one is it's the requirement I think people have got so utilized to we need 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 think it's just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I believe this is a procedure that requires taking a look at it requires changing however eventually people are really stuck to what they recognize
with right um change is a challenging thing all of us don't like modification um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having preserving multiple checking account however there's a huge amount of intricacy opts for establishing a bank 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 however I think the truthful response is change um individuals have not had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century approximately there is a lot to monitor and this approach does present a number of challenges um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you deserve a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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