Find out more about Papaya Global Salary Sacrifice Pension ... 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 actually acquired a separate Chief Financial Officer particularly devoted to managing payments. This offers us with a protected and dependable approach of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll process, conserving me a significant amount 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 specialists.
The Employee Portal provides employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global assists business use competitive benefits plans to international employees no matter the variety of workers in the business. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source local benefits providers in every country, create regional accounts and have a minimum number of employees.
The HR capabilities supplied by Global HR include numerous functions such as keeping an eye on getaway time, ensuring compliance, assisting in the process of welcoming brand-new employees and bidding goodbye to departing ones, providing a protected online platform for saving employees' files, and providing assistance for work allow procedures in case your employees need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, total work expenses dispersed per area, total employment costs per cycle and much more.
Internationally, I have shown management and tactical knowledge in assisting massive populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role includes handling and developing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The complexities and challenges of this field have actually always captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of different roles on the service provider side and also on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everyone comes from and I truly 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 drizzling here it's extremely very gloomy and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for companies running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, find out how business anticipate payroll costs to enhance working capital, and discover how simplifying global payroll payments can transform them from a burdensome job into a strategic asset.
Handling payroll globally is a daunting job due to different regulations, compliance requirements, information security issues, and banking rules. The sheer variety of staff members and companies adds to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently result in manual procedures, data silos, and a lack of combination, resulting in disparities and inefficiencies. Despite residing in a period of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives 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 just 11 of organizations state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization invests in global payroll the less of an image they see an absence of visibility also reaches payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the transaction almost half of international companies have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors inadequately communicated hires and terminations in addition to lack management and system setups and then when you round it all off and the data is shipped to the wrong place the typical cost of a global data 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 smoothly if they depend on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're making payments to workers 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 ideal and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 customer's own in-country account so there's intricacy any place you look best ultimately constructing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is allowing us to kind of move forward with that it likewise also to add to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm constantly surprised when people say I have actually 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 calculation 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 procedure it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more important to contribute to sort of the level of complexity there's a growing number of benefits being organ or being provided by companies throughout the world so once again you're just looking to add a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine difficulties or real tough sort of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of years I would certainly say that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding details into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we require to develop additional handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you know that we are operating in today there is no reason we are still making this as challenging as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any service has from a cost point of view from an effect perspective on workers it is absolutely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant destructive impact on individuals's wellness and many other factors if people aren't paid uh I've constantly been amazed coming into this Market kind of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only discover when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally as well. Therefore, it is essential to guarantee that jobs like Wi-Fi International and other essential matters are done correctly. Using the first Global Payments first payroll payment solution is a terrific initial step towards providing a thorough payroll solution for employees worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and savings account necessary for international payroll are key consider achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things do not go as prepared. Eventually, we don't do it for the gratitude.
anyway we know how how important 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 easy as possible for everyone that's associated with those procedures and also so picture sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions picture getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job trying to clean all those up for sure oh absolutely 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 try to check out them and in fact see what was going on and type of shot to get back to everybody so proceeding look why do companies pick to main separate savings account there are services out there doing precisely this for particular nations and I've operated in a company or numerous companies doing precisely that I can state it doesn't constantly feel efficient and it does create more work I know we're not intentionally doing that we're not developing additional work for anybody where we do not need to and anybody that's handling 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 believe many reasons one is it's the standard I think individuals have got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I think this is a process that requires looking at it requires altering however eventually people are extremely stuck to what they recognize
with ideal um modification is a difficult thing all of us do not like modification um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping several savings account but there's a big amount of complexity opts for establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is huge however I think the truthful answer is modification um people have not been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've 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 could almost be figured out to be the next Century approximately there is a lot to monitor and this method does pose numerous challenges um so Johnny could you tell us about those obstacles yeah of course so there's a variety 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you are worthy of a corner office with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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