Find out more about Papaya Global P32 Report ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and trustworthy technique of making payments to our 10,000 employees worldwide.}
The advanced international payroll management app streamlines my payroll process, conserving me a considerable quantity of time each month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Employee Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The website is offered in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to global employees despite the variety of staff members in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every country, create regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total work expenses distributed per place, overall employment costs per cycle and much more.
Internationally, I have shown leadership and strategic knowledge in assisting large-scale populations of over 100,000 workers across 170 countries. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My role includes handling and developing external collaborations, supporting Business clients, and supplying advisory services. In addition, 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 the majority of prominent business worldwide we offer payroll payments and workforce management to all worker key ins over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent night depending upon where you are in the world it's charming 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 been 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 difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of different roles on the service provider side and likewise on the vendor side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind 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 drizzling here it's very very bleak and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies maintain separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical property uh we'll likewise go over a wrap-up and that should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more common and handling them becomes more and more complex International organizations are seeking to discover Solutions and brand-new ways to simplify procedures especially from a payroll and cross-border payment standpoint numerous companies preserve separate checking account just for payroll while some have several accounts in various nations does it make sense for companies to keep different savings account sometimes in different countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies streamline the episode complex procedures of
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for organizations operating internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how companies forecast payroll costs to enhance working capital, and discover how improving global payroll payments can transform them from a burdensome job into a tactical property.
Managing payroll globally is a challenging task due to various regulations, compliance requirements, information security issues, and banking rules. The large number of staff members and services contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems often result in manual procedures, information silos, and a lack of combination, causing inconsistencies and inadequacies. Regardless of residing in a period of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to provide insights and solutions to simplify and optimize international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of a photo they see an absence of visibility also encompasses payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide organizations have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes improperly interacted hires and terminations along with lack management and system setups and then when you round all of it off and the data is delivered to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they rely on the essential several procedures 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 obstacles business face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and say what is it what does not require to be consisted of right and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy anywhere you look best ultimately constructing a knowledge base is absolutely important however everywhere you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you 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 definitely fundamental and technology is enabling us to sort of progress with that it also too to add to that payroll and finance require to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is definitely vital that payroll and financing teams work better together than ever um I'm always astonished when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on well-being and the settlement landscape is becoming increasingly complex. Organizations are constantly presenting brand-new benefits and payment choices, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my opinion, this does not have to hold true. In today's highly advanced age, there's no reason for maintaining cumbersome procedures. Payroll, the company's biggest expenditure, need to be processed properly and on time. Even small delays can negatively impact workers' wellness and have far-reaching repercussions. For that reason, it's critical to prioritize accurate and timely payments.
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just observe when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally also. For that reason, it is essential to ensure that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Utilizing the first Global Payments first payroll payment solution is a great initial action towards supplying a thorough payroll option for employees worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and bank accounts necessary for global payroll are crucial factors in accomplishing organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things do not go as prepared. Ultimately, we do not do it for the appreciation.
anyway 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 everyone that's involved in those procedures and also so imagine sorry I'm simply 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 make certain we're speaking about hundreds of thousands potentially Millions imagine getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and kind of shot to return to everyone so carrying on look why do companies pick to main separate bank accounts there are businesses out there doing precisely this for specific nations and I have actually worked in a service or numerous services doing exactly that I can state it doesn't constantly feel effective and it does create more work I know we're not purposely doing that we're not developing extra work for anybody where we don't need to and anyone 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 quantity that we are I think lots of factors one is it's the requirement I think individuals have got so used to we need a new checking account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I think this is a process that needs taking a look at it needs altering however ultimately people are very stuck to what they recognize
with best um change is a difficult thing all of us do not like change um so I think it's simply 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 understand clearly the benefits of having keeping numerous savings account however there's a big quantity of complexity opts for setting up a checking account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for private people so the intricacy is substantial but I think the honest response is change um individuals have not been able to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking 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 however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century approximately there is a lot to keep track of and this method does pose numerous obstacles um so Johnny could you inform us about those difficulties yeah obviously 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 handle our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your achievements.
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