Find out more about Papaya Global Mobile ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a secure and reliable approach of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Worker Portal supplies staff members with the capability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to international employees despite the variety of staff members in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local benefits companies in every country, develop local accounts and have a minimum number of employees.
The HR abilities offered by Worldwide HR include numerous functions such as keeping an eye on getaway time, ensuring compliance, facilitating the process of welcoming brand-new employees and bidding farewell to departing ones, providing a secure online platform for keeping workers' files, and providing support for work allow 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 spending, labor force variety, total employment expenses distributed per place, total work expenses per cycle and a lot more.
Worldwide, I have actually demonstrated management and strategic knowledge in guiding massive populations of over 100,000 employees across 170 countries. Currently, I are accountable for overseeing payroll methods, as discussed by Mark. My function includes managing and developing external partnerships, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for many influential companies worldwide we offer payroll payments and labor force management to all worker key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon great evening depending upon where you are in the world it's lovely to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually kind of had a variety of various functions on the company side and also on the vendor side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give 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 sort of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind 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 sunshine is it it's not no it's it's drizzling here it's really really bleak and I want I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies keep different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for services operating worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, learn how business forecast payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a troublesome task into a tactical asset.
Handling payroll internationally is a daunting job due to various guidelines, compliance requirements, information security issues, and banking rules. The large number of workers and services contributes to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically result in manual processes, data silos, and an absence of integration, resulting in inconsistencies and inefficiencies. In spite of residing in an age of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to supply insights and services to streamline and enhance international 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 information in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization spends on international payroll the less of an image they see an absence of visibility also extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal almost half of worldwide businesses have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors poorly communicated hires and terminations in addition to lack management and system configurations and after that when you round everything off and the information is delivered to the incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they rely on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges service face when they're paying to employees or otherwise that's an excellent concern I constantly throw this back and state what is it what does not need to be included right 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 timespan there's payment abilities 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 customer's own in-country account so there's intricacy any place you look right eventually building a knowledge base is absolutely vital however everywhere 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 type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is enabling us to sort of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely necessary that payroll and finance teams work closer together than ever um I'm always impressed when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation 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 any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on well-being and the compensation landscape is ending up being increasingly intricate. Organizations are continually introducing new benefits and payment choices, which adds to the general intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can lead to ineffectiveness and traffic jams. In my opinion, this does not need to hold true. In today's technically sophisticated age, there's no validation for maintaining cumbersome treatments. Payroll, the business's most significant expenditure, need to be processed properly and on time. Even small hold-ups can adversely affect employees' wellness and have significant consequences. For that reason, it's critical to prioritize precise and prompt payments.
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's viewed externally too. For that reason, it is vital to ensure that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment solution is a great preliminary action towards offering a thorough payroll option for staff members worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and checking account essential for global payroll are crucial consider achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as planned. Eventually, we do not do it for the appreciation.
anyhow 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 envision sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions imagine getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and really see what was going on and type of try to get back to everyone so carrying on look why do companies pick to main separate checking account there are companies out there doing precisely this for particular nations and I've operated in a company or numerous companies doing precisely that I can say it does not always feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra work for any person where we do not have to and any person that's managing that process 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 lots of reasons one is it's the requirement I think individuals have actually got so used to we need a new checking account we open an entity and rightly so you need it for payroll purposes but 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 actually adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I think this is a process that needs taking a look at it needs changing but eventually individuals are very stuck to what they're familiar
with ideal um change is a tough thing we all don't like modification um so I think it's simply kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having maintaining numerous savings account but there's a substantial amount of intricacy goes with establishing a savings account maintaining it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is huge however I believe the sincere response is modification um people have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might practically be determined to be the next Century or so there is a lot to keep track of 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 did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you deserve a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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