Find out more about Papaya Global Multi Company ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This provides us with a safe and secure and trustworthy technique of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Worker Website
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax statements and work files. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive benefits bundles to global staff members no matter the number of staff members in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local advantages companies in every nation, develop regional accounts and have a minimum number of workers.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall work costs distributed per location, total employment expenses per cycle and far more.
Worldwide, I have actually shown leadership and strategic knowledge in assisting large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for managing payroll methods, as discussed by Mark. My role includes managing and developing external partnerships, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
business to make the time 100 list for most influential business on the planet we provide payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent evening depending on where you are in the world it's beautiful to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I've kind of had a variety of various roles on the company side and likewise on the vendor side from a payroll perspective so really anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very really uninspiring and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a strategic asset uh we'll also review a recap and that must leave his time at the extremely really 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 Global labor forces become a growing number of typical and managing them ends up being more and more intricate International organizations are aiming to find Solutions and brand-new methods to simplify processes particularly from a payroll and cross-border payment perspective many companies preserve separate checking account just for payroll while some have several accounts in various countries does it make good sense for business to keep different checking account sometimes in various countries it does however just for payroll exists a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational companies improve the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to enhance working capital, and discover how improving worldwide payroll payments can change them from a difficult task into a tactical possession.
Managing payroll worldwide is a daunting job due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer number of staff members and businesses adds to the complexity, with an approximated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual processes, information silos, and a lack of integration, causing inconsistencies and inefficiencies. In spite of living in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to supply insights and options to streamline and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a company invests in worldwide payroll the less of a photo they see a lack of exposure likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide services have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors badly communicated hires and terminations as well as absence management and system configurations and then when you round all of it off and the data is delivered to the wrong place the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they count on the needed several processes 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 challenges organization face when they're making payments to employees or otherwise that's a great question I always toss this back and state what is it what doesn't require to be included right and what does
it require to be thought about there's varying 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 client's own in-country account so there's intricacy anywhere you look right eventually developing a knowledge base is definitely vital however all over you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort 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 definitely basic and innovation is allowing us to sort of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is absolutely important that payroll and finance groups work more detailed together than ever um I'm constantly impressed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high value on wellness and the payment landscape is becoming significantly complex. Companies are continuously introducing new benefits and payment options, which contributes to the total complexity. Big corporations frequently divide their payroll and payment processing into separate teams, which can cause ineffectiveness and traffic jams. In my viewpoint, this does not have to hold true. In today's highly sophisticated era, there's no reason for maintaining cumbersome procedures. Payroll, the business's most significant expense, need to be processed correctly and on time. Even slight delays can adversely impact staff members' wellness and have far-reaching effects. Therefore, it's critical to prioritize precise and prompt payments.
payroll group get um so I'm not sure anybody on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely important that all of this things is done properly so leveraging the very first International Payments first payroll payment solution is a great initial step um providing an end-to-end payroll option for your employees internationally again I believe is another substantial um process once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of businesses and lowering the variety of tools platforms and savings account they need 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 had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how crucial 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 simple as possible for everybody that's involved in those procedures and likewise so envision sorry I'm just I was simply gon na say picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions think of 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 all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and sort of shot to return to everyone so carrying on appearance why do business pick to primary separate checking account there are companies out there doing precisely this for particular countries and I have actually worked in a service or many services doing precisely that I can say it doesn't always feel efficient and it does create more work I know we're not purposely doing that we're not developing additional work for anyone where we don't have to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous factors one is it's the requirement I believe individuals have got so utilized to we require a new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to type of do it so I think there's a range I believe this is a process that requires looking at it requires altering however ultimately individuals are really stuck with what they recognize
with right um modification is a tough thing all of us don't like modification um so I believe it's just sort of moving away from the norm as we've 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 huge amount of complexity chooses setting up a checking account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the complexity is huge but I think the sincere response is modification um individuals have not been able to alter or have not had always the understanding to actually make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might almost be identified to be the next Century or so there is a lot to keep an eye on and this method does posture numerous challenges um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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