Find out more about Papaya Global How To Use ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and secure and reliable technique of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Worker Website supplies staff members with the ability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages plans to global employees despite the number of workers in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source regional benefits providers in every country, develop local accounts and have a minimum number of staff members.
The HR capabilities offered by Worldwide HR encompass different functions such as keeping track of getaway time, ensuring compliance, helping with the procedure of inviting brand-new workers and bidding goodbye to leaving ones, using a secure online platform for storing workers' documents, and offering assistance for work allow procedures in case your staff members need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total work expenses distributed per location, overall employment expenses per cycle and much more.
Worldwide, I have shown leadership and tactical competence in directing large-scale populations of over 100,000 staff members across 170 countries. Currently, I am responsible for managing payroll methods, as discussed by Mark. My function includes managing and establishing external partnerships, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and labor force 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, despite your place. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. 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 intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually sort of had a range of various functions on the company side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating 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 everyone originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really extremely bleak and I wish I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business keep different
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is particularly useful for global companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and prompt payroll payments is a complex obstacle for businesses operating worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, find out how business anticipate payroll costs to enhance working capital, and find how enhancing global payroll payments can change them from a difficult task into a tactical asset.
Managing payroll worldwide is a daunting task due to numerous guidelines, compliance requirements, information security issues, and banking rules. The large variety of staff members and companies contributes to the intricacy, with an estimated 3.5 billion individuals in the worldwide labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of integration, causing inconsistencies and ineffectiveness. In spite of living in an era of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to provide insights and solutions to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that offers me sleepless nights and quite honestly the more a business invests in international payroll the less of a picture they see a lack of presence also extends to payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide companies have expressed that they do not 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 bad HCM data information entry mistakes improperly interacted hires and terminations along with lack management and system configurations and then when you round everything off and the information is shipped to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they rely on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties company face when they're paying to employees or otherwise that's an excellent concern I constantly toss this back and say what is it what does not require 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 country there's payment amount of time 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 client's own in-country account so there's intricacy any place you look ideal ultimately developing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is allowing us to type of move on with that it likewise as well 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 essential that payroll and finance teams work better together than ever um I'm constantly astonished when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate 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 frequently split and cut up um eventually it's payroll is an end-to-end procedure 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 well-being and the settlement landscape is ending up being increasingly elaborate. Businesses are continually introducing brand-new benefits and payment alternatives, which adds to the general intricacy. Large corporations typically divide their payroll and payment processing into separate groups, which can cause ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's highly advanced period, there's no justification for preserving troublesome treatments. Payroll, the business's greatest cost, must be processed correctly and on time. Even slight delays can negatively impact employees' wellness and have significant repercussions. For that reason, it's important to prioritize precise and timely payments.
payroll team get um so I'm unsure anybody on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle we all hear about it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment option is a great initial step um offering an end-to-end payroll option for your employees internationally once again I believe is another substantial um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely essential to success success of services and minimizing the variety of tools platforms and checking account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten 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 don't think any of us are in fact doing that for for the thanks
anyway we know how how important 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 involved in those procedures and also so envision sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and really see what was going on and kind of try to return to everybody so carrying on look why do business choose to primary separate checking account there are organizations out there doing precisely this for specific nations and I have actually operated in a company or lots of companies doing precisely that I can say it does not constantly feel effective and it does create more work I know we're not purposely doing that we're not developing extra work for anyone where we don't have to and anybody 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 amount that we are I think lots of reasons one is it's the standard I think people have got so utilized to we need a new checking account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that people have actually looked 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 believe this is a process that needs taking a look at it requires altering but eventually individuals are extremely stuck to what they recognize
with best um modification is a hard thing we all don't like change um so I think it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having maintaining numerous bank accounts however there's a substantial quantity of intricacy opts for establishing a bank account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is big but I believe the truthful answer is modification um people have not been able to change or have not had always the understanding to actually make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change but we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could practically be identified to be the next Century or two there is a lot to keep an eye on and this approach does pose numerous difficulties um so Johnny could you inform us about those obstacles yeah of course so there's a variety right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner office with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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