Find out more about Papaya Global State Of Palestine ... 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 obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and dependable method of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Staff member Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax statements and employment files. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to international staff members no matter the variety of workers in the business. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source local benefits service providers in every country, create local accounts and have a minimum variety of workers.
The HR capabilities supplied by International HR incorporate various functions such as monitoring trip time, guaranteeing compliance, facilitating the process of welcoming new workers and bidding goodbye to departing ones, using a secure online platform for storing employees' files, and providing support for work permit treatments in case your workers require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, total employment expenses dispersed per place, total employment expenses per cycle and far more.
Worldwide, I have demonstrated management and tactical competence in assisting large-scale populations of over 100,000 staff members across 170 nations. Presently, I are accountable for supervising payroll techniques, as discussed by Mark. My role includes handling and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for a lot of influential business on the planet we provide 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 said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon excellent evening depending on where you remain in the world it's charming 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 industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually sort of had a range of various functions on the provider side and likewise on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody comes 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 drizzling here it's very very dreary and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is especially useful for global companies with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of preserving different checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, learn how companies forecast payroll costs to optimize working capital, and discover how enhancing worldwide payroll payments can change them from a troublesome task into a tactical asset.
Handling payroll internationally is an overwhelming job due to numerous guidelines, compliance requirements, information security issues, and banking guidelines. The large number of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems typically result in manual processes, data silos, and a lack of integration, resulting in inconsistencies and inefficiencies. In spite of residing in an era of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to offer insights and solutions to simplify and optimize global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that gives me sleep deprived nights and rather honestly the more a business spends on worldwide payroll the less of a photo they see a lack of presence also extends to payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide services have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors improperly communicated hires and terminations as well as lack management and system configurations and then when you round it all off and the information is delivered to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they count on the needed several procedures 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 obstacles company face when they're making payments to workers or otherwise that's a good question I constantly throw this back and say what is it what does not need to be consisted of best and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment abilities 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 consumer's own in-country account so there's intricacy any place you look best ultimately developing a knowledge base is absolutely critical however all over you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 essential and innovation is allowing us to kind of move on with that it also also to add to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely vital that payroll and financing teams work better together than ever um I'm always astonished when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high value on wellness and the settlement landscape is becoming significantly intricate. Companies are constantly introducing brand-new benefits and payment choices, which contributes to the total complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can cause inadequacies and bottlenecks. In my opinion, this doesn't need to hold true. In today's highly advanced period, there's no justification for preserving cumbersome procedures. Payroll, the business's biggest cost, should be processed correctly and on time. Even slight delays can adversely impact workers' well-being and have far-reaching consequences. Therefore, it's important to prioritize precise and prompt payments.
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only discover when things fail. However, when things go right, it's seen as just a regular task. This is how it's perceived externally as well. For that reason, it is vital to ensure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Using the first Global Payments first payroll payment option is an excellent initial step towards offering a comprehensive payroll option for employees worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and checking account needed for international payroll are essential consider accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things do not go as planned. Eventually, we don't do it for the gratitude.
anyhow we know how how crucial a function 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 associated with those processes and also so think of sorry I'm just I was simply gon na say picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions think of getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and type of shot to get back to everyone so carrying on look why do business select to primary separate checking account there are organizations out there doing precisely this for specific countries and I've operated in a service or numerous businesses doing exactly that I can say it doesn't always feel efficient and it does create more work I know we're not intentionally doing that we're not creating extra work for anybody where we don't have to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe many reasons one is it's the standard I believe people have got so used to we need a 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 simply been the requirement and the standard individuals have embraced and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a procedure that needs looking at it requires changing however ultimately individuals are really stuck to what they recognize
with best um change is a tough thing all of us do not like modification um so I believe it's just kind 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 comprehend certainly the benefits of having keeping several checking account however there's a huge amount of intricacy goes with setting up a bank account keeping it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is huge however I believe the truthful answer is change um individuals haven't been able to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to change but we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be figured out to be the next Century or two there is a lot to monitor and this method does pose several difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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