Find out more about Papaya Global Training Youtube ... 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 acquired a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a protected and trustworthy method of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and specialists
Worker Portal
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business offer competitive advantages bundles to international staff members no matter the number of staff members in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source regional advantages companies in every nation, create local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work expenses distributed per place, total work costs per cycle and much more.
Worldwide, I have actually demonstrated leadership and tactical proficiency in guiding large-scale populations of over 100,000 staff members across 170 nations. Currently, I am responsible for overseeing payroll techniques, as discussed by Mark. My function includes managing and developing external collaborations, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We specialize in offering payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of various functions on the company side and also on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite 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 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 really extremely dreary and I want I was somewhere else at this moment in time fine 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 International payroll why business keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a strategic possession uh we'll likewise go over a wrap-up and that should leave his time at the really really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of common and managing them ends up being increasingly more complex Worldwide companies are aiming to discover Solutions and brand-new methods to improve processes specifically from a payroll and cross-border payment standpoint lots of organizations keep separate checking account just for payroll while some have numerous accounts in various countries does it make good sense for companies to keep different checking account often in various countries it does however just for payroll exists a much better way what role do virtual accounts and digital wallets also known as virtual wallets play in helping multinational business improve the episode complex processes of
Guaranteeing accurate, effective, and timely payroll payments is a complex difficulty for services operating globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, learn how business anticipate payroll costs to optimize working capital, and discover how simplifying global payroll payments can change them from a burdensome job into a strategic possession.
Handling payroll internationally is an overwhelming job due to various guidelines, compliance requirements, information security issues, and banking guidelines. The large number of staff members and companies adds to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual procedures, data silos, and an absence of combination, resulting in disparities and inadequacies. Regardless of living in an era of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to provide insights and options to streamline and enhance international 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 Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more a business invests in international payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of worldwide businesses have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes improperly interacted hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is delivered to the incorrect place the typical cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they count on the essential numerous procedures 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 difficulties company face when they're paying to workers or otherwise that's a good question I constantly toss this back and state what is it what does not need to be consisted of right and what does
it require to be thought of 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is absolutely vital however all over you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is allowing us to type of progress with that it also also to add to that payroll and finance require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely imperative that payroll and financing groups work better together than ever um I'm always amazed when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't 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 often 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 people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on wellness and the settlement landscape is becoming increasingly complex. Services are continually introducing brand-new benefits and payment alternatives, which contributes to the general complexity. Big corporations often divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't have to hold true. In today's technically advanced period, there's no justification for preserving troublesome procedures. Payroll, the business's biggest expenditure, must be processed properly and on time. Even slight delays can adversely impact employees' wellness and have significant repercussions. For that reason, it's vital to prioritize accurate and timely payments.
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just observe when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's viewed externally as well. Therefore, it is essential to ensure that tasks like Wi-Fi International and other vital matters are done correctly. Using the first International Payments very first payroll payment service is a great initial step towards offering a comprehensive payroll option for staff members worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and savings account necessary for worldwide payroll are essential consider achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as planned. Eventually, we do not do it for the gratitude.
anyway we know how how crucial 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 easy as possible for everyone that's associated with those processes and also so think of sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and in fact see what was going on and kind of try to return to everybody so moving on appearance why do business select to main separate savings account there are businesses out there doing exactly this for particular countries and I have actually worked in a company or many companies doing precisely that I can say it does not constantly feel effective and it does create more work I know we're not deliberately doing that we're not producing additional work for anyone where we don't have to and anyone that's handling 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 many reasons one is it's the requirement I think individuals have got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll functions 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 adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and many other methods um to to type of do it so I believe there's a range I believe this is a process that needs taking a look at it needs changing but eventually people are extremely stuck with what they recognize
with best um modification is a challenging thing we all don't like modification um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having maintaining multiple checking account however there's a substantial quantity of complexity opts for establishing a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the best user accesses for private people so the complexity is huge but I believe the honest response is change um individuals have not been able to alter or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change however we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century or so there is a lot to keep an eye on and this approach does pose numerous difficulties um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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