Find out more about Papaya Global Pension Refund ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and secure and trusted technique of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app improves my payroll process, conserving me a significant quantity of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Staff member Website
Workers have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive advantages bundles to international staff members no matter the number of workers in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the requirement to source local advantages providers in every nation, create regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall employment costs dispersed per place, total work costs per cycle and much more.
Globally, I have shown leadership and tactical knowledge in guiding massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for overseeing payroll methods, as discussed by Mark. My role involves managing and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for most prominent companies on the planet we supply payroll payments and labor force management to all employee enters over 160 nations 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 great afternoon good night depending upon where you are in the world it's lovely to fulfill 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 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 complexity the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually type of had a variety of various functions on the company side and also on the vendor side from a payroll perspective so truly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I really 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 raining here it's extremely really uninspiring and I want I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical possession uh we'll likewise review a recap and that should leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more common and managing them ends up being a growing number of complicated International organizations are seeking to discover Solutions and brand-new methods to improve procedures especially from a payroll and cross-border payment viewpoint many organizations maintain separate checking account just for payroll while some have numerous accounts in various nations does it make good sense for companies to keep separate bank accounts often in various countries it does however just for payroll is there a better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international companies enhance the episode complex processes of
Making sure precise, effective, and timely payroll payments is a complex challenge for companies running internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, find out how companies forecast payroll expenses to optimize working capital, and find how simplifying worldwide payroll payments can change them from a difficult job into a tactical possession.
Handling payroll worldwide is a complicated task due to different guidelines, compliance requirements, data security concerns, and banking rules. The sheer variety of workers and businesses adds to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems often lead to manual processes, data silos, and an absence of combination, causing inconsistencies and inefficiencies. In spite of living in an age 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 aims to provide insights and solutions to streamline and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more a service spends on global payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of global businesses have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors poorly interacted hires and terminations along with lack management and system setups and then when you round it all off and the information is shipped to the incorrect location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's a good concern I constantly toss this back and say what is it what does not need to be included ideal and what does
it require to be thought of there's varying 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 abilities 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 consumer's own in-country account so there's complexity any place you look ideal eventually constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the kind 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 likewise also to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is definitely vital that payroll and finance teams work closer together than ever um I'm always impressed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on well-being and the payment landscape is becoming increasingly detailed. Businesses are continuously presenting brand-new advantages and payment alternatives, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can cause ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technically sophisticated era, there's no validation for maintaining troublesome procedures. Payroll, the company's most significant cost, should be processed properly and on time. Even minor hold-ups can adversely affect staff members' well-being and have far-reaching repercussions. For that reason, it's critical to focus on accurate and prompt payments.
payroll group get um so I'm not sure anyone on this kind of webinar has been informed thank you for processing my payroll correctly 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 all of us hear about it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done correctly so leveraging the first International Payments very first payroll payment solution is a great initial step um providing an end-to-end payroll solution for your workers globally once again I believe is another big um procedure once again lining up and ensuring you have standardization Global procedures all of those things are definitely key to success success of organizations and reducing the number of tools platforms and checking account they need for their Worldwide 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've never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're indicated to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand 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 everybody that's associated with those processes and also so think of sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job attempting to clean up 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 need days of the week to try to look through them and really see what was going on and kind of try to get back to everybody so proceeding look why do business pick to primary separate savings account there are organizations out there doing precisely this for particular countries and I've operated in a company or many organizations doing precisely that I can say it does not always feel efficient and it does develop more work I know we're not deliberately doing that we're not developing extra work for anyone where we do not have to and anybody that's dealing with 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 lots of factors one is it's the requirement I think individuals have actually got so used to we need a brand-new checking account we open an entity and rightly 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 simply been the standard and the norm the people have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I think this is a procedure that needs looking at it requires changing but eventually individuals are very stuck with what they recognize
with right um modification is a difficult thing we all don't like change um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having keeping numerous checking account but there's a substantial amount of complexity chooses setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is huge however I believe the truthful response is modification um individuals haven't had the ability to alter or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might almost be figured out 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 might you inform us about those challenges yeah naturally so there's a range right there is so
I just did you changed 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 staff members you deserve a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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