Find out more about Papaya Global Software Prices ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and trustworthy method of paying to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Employee Portal
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive advantages bundles to worldwide workers no matter the variety of workers in the company. The company can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source regional advantages companies in every country, create regional accounts and have a minimum variety of workers.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total work expenses distributed per place, total employment expenses per cycle and a lot more.
Worldwide, I have shown leadership and strategic know-how in guiding massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for managing payroll techniques, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out 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 industry, I have concentrated on payroll and payment options for the past 7 years. The complexities and obstacles of this field have actually always mesmerized me.
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 different functions on the supplier side and also on the supplier side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everyone 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 rather 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 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 sunshine is it it's not no it's it's drizzling here it's extremely extremely dreary and I want I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya International payroll payments as a tactical possession uh we'll likewise discuss a wrap-up and that should leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being a growing number of common and handling them becomes more and more complex Global organizations are seeking to find Solutions and brand-new methods to improve procedures especially from a payroll and cross-border payment viewpoint numerous companies keep separate checking account just for payroll while some have multiple accounts in different countries does it make sense for business to keep separate checking account often in different countries it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international business streamline the episode complex procedures of
Making sure precise, efficient, and timely payroll payments is a complex challenge for businesses running internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, find out how business forecast payroll expenses to optimize working capital, and discover how improving global payroll payments can transform them from a troublesome job into a strategic asset.
Handling payroll globally is a daunting job due to numerous regulations, compliance requirements, information security concerns, and banking rules. The large variety of workers and companies adds to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual procedures, information silos, and a lack of integration, causing disparities and inadequacies. In spite of residing in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to offer insights and services to simplify and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that gives me sleepless nights and quite honestly the more a business spends on worldwide payroll the less of a picture they see a lack of visibility also encompasses payroll payments and inability to properly 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 require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors badly interacted hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is shipped to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they depend on the essential multiple 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 obstacles service face when they're making payments to staff members or otherwise that's an excellent concern I constantly throw this back and state what is it what does not need to be consisted of ideal and what does
it require to be considered there's varying 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 capabilities 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 customer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is definitely important however everywhere you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 definitely basic and innovation is enabling us to sort of move on with that it likewise too to add to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is absolutely imperative that payroll and financing groups work more detailed together than ever um I'm constantly amazed when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation 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 frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on well-being and the settlement landscape is ending up being progressively detailed. Companies are continually introducing brand-new advantages and payment alternatives, which contributes to the total intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to ineffectiveness and traffic jams. In my viewpoint, this does not need to hold true. In today's technologically sophisticated period, there's no reason for preserving cumbersome procedures. Payroll, the company's greatest expense, must be processed properly and on time. Even minor hold-ups can negatively impact staff members' well-being and have far-reaching consequences. Therefore, it's critical to focus on precise and prompt payments.
The payroll team may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just notice when things go wrong. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's viewed externally also. Therefore, it is essential to guarantee that tasks like Wi-Fi Global and other essential matters are done properly. Utilizing the first International Payments first payroll payment service is a fantastic preliminary action towards providing an extensive payroll option for workers worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and bank accounts required for international payroll are essential factors in attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things don't go as planned. Ultimately, we don't do it for the appreciation.
anyway we understand how how essential 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 everyone that's associated with those processes and likewise so imagine sorry I'm simply 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 discussing numerous thousands possibly Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task attempting to clean up all those up for sure oh definitely I can't think of 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 type of try to get back to everyone so carrying on appearance why do business pick to main different savings account there are organizations out there doing exactly this for particular nations and I have actually operated in a service or numerous organizations doing precisely that I can say it does not always feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing additional work for any person where we don't need to and anybody that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many factors one is it's the requirement I think individuals have actually got so utilized to we need a brand-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 just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I think this is a procedure that requires looking at it needs changing but ultimately individuals are very stuck with what they recognize
with best um modification is a tough thing we all don't like modification um so I believe it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having preserving multiple bank accounts however there's a substantial amount of intricacy opts for setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private individuals so the complexity is huge but I believe the sincere response is change um individuals have not been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century or two there is a lot to track and this method does posture a number of obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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