Find out more about Papaya Global Gdpr Compliance ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a protected and trusted technique of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Staff member Website supplies workers with the ability to gain access to and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to global workers regardless of the variety of staff members in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local benefits service providers in every nation, develop local accounts and have a minimum number of staff members.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall employment costs dispersed per location, overall work expenses per cycle and much more.
environments around the world I provided management and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout the business managing and building external relationships supporting Business clients and services in addition to functioning as an advisor for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of different functions on the service provider side and also on the supplier side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone originates from and I really 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 raining here it's really really dreary and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic asset uh we'll also review a recap which needs to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being a growing number of common and handling them ends up being more and more complex International organizations are seeking to find Solutions and brand-new methods to enhance procedures particularly from a payroll and cross-border payment perspective lots of companies keep separate checking account just for payroll while some have several accounts in different nations does it make good sense for companies to preserve separate checking account in some cases in various nations it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international business enhance the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, learn how companies forecast payroll expenses to enhance working capital, and find how improving global payroll payments can change them from a difficult job into a strategic property.
Managing payroll worldwide is a complicated job due to numerous regulations, compliance requirements, information security concerns, and banking rules. The large variety of staff members and services adds to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and an absence of combination, resulting in disparities and inefficiencies. Regardless of living in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to offer 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 just 11 of services say they have Workforce data in real time that's another number that provides me sleepless nights and rather frankly the more a company invests in international payroll the less of a picture they see an absence of presence also extends to payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of worldwide companies have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes inadequately communicated hires and terminations in addition to lack management and system setups and after that when you round it all off and the information is shipped to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they rely on the needed several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're paying to workers or otherwise that's an excellent question I always throw this back and say what is it what doesn't need to be consisted of best and what does
it need to be thought about there's differing Bank information 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity any place you look ideal ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to kind of progress with that it likewise also to add to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work better together than ever um I'm always surprised when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not 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 often 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 but likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on wellness and the settlement landscape is becoming progressively complex. Businesses are continually presenting new advantages and payment alternatives, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into different groups, which can cause ineffectiveness and traffic jams. In my opinion, this does not have to hold true. In today's technically advanced period, there's no reason for preserving troublesome procedures. Payroll, the business's greatest expenditure, should be processed correctly and on time. Even small delays can negatively affect workers' well-being and have far-reaching consequences. Therefore, it's crucial to focus on accurate and timely payments.
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just discover when things fail. However, when things go right, it's seen as just a regular task. This is how it's perceived externally also. For that reason, it is essential to ensure that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment service is a fantastic initial step towards providing an extensive payroll option for staff members worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and bank accounts necessary for international payroll are crucial factors in achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things do not go as prepared. Eventually, we don't do it for the thankfulness.
anyhow we know how how important 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 everyone that's involved in those processes and also so imagine sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions picture getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job trying to clean 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 try to browse them and actually see what was going on and type of shot to get back to everyone so proceeding appearance why do business pick to primary different bank accounts there are companies out there doing exactly this for particular countries and I've worked in a company or numerous businesses 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 extra work for any person where we don't have to and anybody that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I think people have got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually adopted 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 many other methods um to to type of do it so I think there's a range I think this is a process that needs looking at it needs altering but eventually people are really stuck with what they're familiar
with right um change is a tough thing all of us do not like change um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having keeping numerous checking account but there's a huge quantity of intricacy chooses establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the intricacy is substantial but I believe the sincere response 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 other than opening a bank account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century approximately there is a lot to monitor and this technique does present numerous obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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