Find out more about Papaya Global Questions ... 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 obtained a separate Chief Financial Officer particularly dedicated to managing payments. This supplies us with a safe and trustworthy method of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
Staff member Website
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax declarations and work documents. The website is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to international employees no matter the number of employees in the company. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local benefits providers in every country, produce local accounts and have a minimum variety of workers.
The HR capabilities supplied by Worldwide HR incorporate numerous functions such as keeping track of holiday time, making sure compliance, helping with the process of welcoming brand-new workers and bidding goodbye to leaving ones, using a protected online platform for storing workers' files, and providing assistance for work allow procedures in case your workers require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work expenses dispersed per place, total work expenses per cycle and far more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout business managing and building external relationships supporting Business clients and solutions along with acting as a consultant for those of you that don't know who papaya International is papaya is the first payroll and payments
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We focus on providing payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment services for the past seven years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I have actually type of had a range of different functions on the supplier side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it is 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 extremely very bleak and I want I was elsewhere at this moment in time fine 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 handling Worldwide payroll why business keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical asset uh we'll also review a recap and that needs to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more common and managing them ends up being a growing number of complicated Worldwide organizations are looking to discover Solutions and new ways to enhance processes especially from a payroll and cross-border payment viewpoint lots of organizations keep different bank account just for payroll while some have multiple accounts in various countries does it make good sense for business to preserve different bank accounts in some cases in different nations it does but just for payroll exists a much better way what role do virtual accounts and digital wallets also called virtual wallets play in helping multinational business improve the episode complex procedures of
Ensuring accurate, effective, and timely payroll payments is a complex challenge for businesses operating worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll costs to optimize working capital, and discover how improving international payroll payments can transform them from a difficult task into a strategic property.
Managing payroll worldwide is a challenging job due to numerous policies, compliance requirements, data security concerns, and banking rules. The large number of staff members and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently lead to manual procedures, information silos, and a lack of combination, causing disparities and inefficiencies. Despite residing in an era of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to provide insights and solutions to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that provides me sleep deprived nights and rather honestly the more a company spends on global payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of international companies have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes badly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the data is delivered to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they rely on the essential several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles company face when they're paying to employees or otherwise that's a great question I constantly throw this back and say what is it what doesn't need to be consisted of best and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 client's own in-country account so there's complexity any place you look best ultimately building a knowledge base is definitely vital but all over you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to type of move forward with that it also as well to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and finance groups work closer together than ever um I'm always amazed when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on wellness and the payment landscape is becoming increasingly elaborate. Organizations are continually introducing new benefits and payment choices, which adds to the general complexity. Big corporations often divide their payroll and payment processing into separate groups, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's highly advanced age, there's no validation for preserving troublesome treatments. Payroll, the business's greatest cost, must be processed properly and on time. Even minor hold-ups can adversely impact employees' well-being and have significant consequences. Therefore, it's crucial to focus on precise and timely payments.
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just see when things fail. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's perceived externally too. For that reason, it is vital to make sure that jobs like Wi-Fi International and other vital matters are done properly. Using the first Worldwide Payments very first payroll payment service is a great initial step towards offering a thorough payroll solution for staff members worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and checking account needed for worldwide payroll are key factors in accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few grievances when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we know how how crucial a function 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 associated with those procedures and likewise so picture sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task attempting to clean all those up for sure oh definitely I can't picture 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 sort of try to return to everybody so proceeding look why do companies choose to primary different savings account there are organizations out there doing exactly this for specific nations and I've worked in a business or numerous organizations doing exactly that I can say it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not developing extra work for anybody where we do not 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 believe lots of reasons one is it's the requirement I think individuals have actually got so utilized to we need a new savings 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 simply been the requirement and the standard individuals have adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I believe this is a process that requires taking a look at it needs altering but eventually individuals are extremely stuck with what they recognize
with right um modification is a challenging thing all of us don't like change um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having preserving several bank accounts however there's a big amount of intricacy opts for establishing a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the best user accesses for specific people so the complexity is big but I think the sincere response is change um individuals haven't been able to change or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change however we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century or so there is a lot to keep an eye on and this method does pose numerous challenges um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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