Find out more about Papaya Global Forum ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to managing payments. This offers us with a protected and trustworthy method of paying to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app enhances my payroll process, saving me a significant amount of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
The Employee Website supplies staff members with the capability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive advantages packages 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, dental and maternity leave while eliminating the need to source regional advantages companies in every nation, develop regional accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total work expenses dispersed per area, overall work costs per cycle and far more.
Globally, I have shown leadership and strategic know-how in directing large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role includes handling and developing external partnerships, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for most prominent companies worldwide we supply payroll payments and workforce management to all worker key ins 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 present yourself obviously thank you good morning great afternoon excellent evening depending upon where you remain in the world it's lovely to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was interested by the complexity the problem in all of the above of
payroll payments and chose to sort 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 likewise on the vendor side from a payroll viewpoint so truly looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it is 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 really uninspiring and I wish I was somewhere else at this moment in time alright so let's start 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 business preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic possession uh we'll likewise go over a wrap-up and that needs to leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become more and more common and managing them becomes increasingly more complex International organizations are aiming to discover Solutions and brand-new methods to simplify procedures especially from a payroll and cross-border payment viewpoint lots of companies keep separate bank account just for payroll while some have several accounts in various countries does it make good sense for companies to maintain different savings account in some cases in different nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international business simplify the episode complex processes of
Making sure accurate, effective, and timely payroll payments is a complex challenge for companies operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll expenses to optimize working capital, and find how simplifying international payroll payments can transform them from a challenging task into a tactical asset.
Handling payroll globally is a complicated job due to different policies, compliance requirements, information security concerns, and banking rules. The sheer 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 businesses worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of integration, leading to disparities and ineffectiveness. Regardless of residing in a period of technological improvements, 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 options to simplify and enhance worldwide 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 data in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization invests in worldwide payroll the less of a photo they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the transaction nearly half of international organizations have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors improperly interacted hires and terminations in addition to lack management and system setups and after that when you round everything off and the data is shipped to the wrong place the average expense of a worldwide 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 globe payroll and payments don't run smoothly if they rely on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges company face when they're paying to employees or otherwise that's a good question I always throw this back and say what is it what does not need to be included ideal and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 customer's own in-country account so there's intricacy any place you look best eventually developing a knowledge base is absolutely vital however all over you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to type of move forward with that it also also to add to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and finance groups work better together than ever um I'm constantly amazed when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure 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 contemporary world places a high value on wellness and the settlement landscape is ending up being increasingly intricate. Organizations are constantly introducing new advantages and payment options, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can result in inefficiencies and traffic jams. In my opinion, this doesn't need to be the case. In today's technically advanced age, there's no justification for keeping cumbersome treatments. Payroll, the business's biggest cost, should be processed correctly and on time. Even minor delays can negatively impact workers' well-being and have significant consequences. For that reason, it's critical to prioritize accurate and prompt payments.
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's seen as just a routine task. This is how it's perceived externally as well. For that reason, it is important to make sure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Using the first International Payments very first payroll payment service is a great initial step towards offering a detailed payroll option for staff members worldwide. Standardization, international processes, and lowering the variety of tools, platforms, and checking account necessary for global payroll are crucial factors in attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyhow we understand 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 simply I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions imagine getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job trying to clean 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 sort of try to get back to everyone so proceeding appearance why do companies pick to primary different savings account there are companies out there doing exactly this for specific nations and I've worked in a business or many organizations doing exactly that I can state it does not always feel effective and it does create more work I know we're not deliberately doing that we're not producing additional work for anybody where we do not need to and anyone that's managing 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 quantity that we are I think numerous reasons one is it's the standard I believe people have actually got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll functions but 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 actually embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I think this is a process that needs looking at it needs changing but ultimately people are very stuck with what they recognize
with best um modification is a challenging thing we all don't like change um so I believe it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having keeping numerous checking account but there's a big quantity of intricacy goes with establishing a savings account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for private individuals so the complexity is substantial however I think the sincere answer is change um individuals haven't had the ability to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to change but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century or so there is a lot to keep track of and this approach does pose numerous challenges um so Johnny might you tell us about those challenges yeah naturally so there's a variety right there is so
I just recently made a change to our Business 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 acquired another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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