Find out more about Reprint P45 Papaya Global ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and secure and trusted approach of making payments to our 10,000 employees worldwide.}
The advanced global payroll management app streamlines my payroll process, conserving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
Staff member Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive benefits packages to worldwide staff members regardless of the variety of staff members in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the need to source local benefits suppliers in every nation, produce local accounts and have a minimum variety of workers.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall work costs dispersed per area, overall work expenses per cycle and far more.
Globally, I have actually shown leadership and strategic expertise in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for supervising payroll techniques, as mentioned by Mark. My function includes handling and developing external partnerships, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and workforce management services to workers 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, regardless of your place. It's a satisfaction to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually constantly captivated me.
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I've type of had a range of different functions on the provider side and likewise on the supplier side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone comes 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 really dreary and I wish I was elsewhere at this moment in time alright so let's begin our program 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 different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll likewise discuss a wrap-up which should leave his time at the very really 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 a growing number of common and managing them ends up being increasingly more complex International organizations are aiming to discover Solutions and brand-new methods to enhance processes particularly from a payroll and cross-border payment perspective lots of organizations maintain separate savings account just for payroll while some have numerous accounts in different nations does it make good sense for companies to maintain separate savings account in some cases in various countries it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business simplify the episode complex procedures of
Guaranteeing accurate, effective, and timely payroll payments is a complex challenge for companies operating worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, discover how business anticipate payroll costs to optimize working capital, and find how enhancing global payroll payments can change them from a troublesome task into a tactical property.
Handling payroll worldwide is an overwhelming task due to different guidelines, compliance requirements, information security concerns, and banking guidelines. The large number of staff members and services adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual procedures, data silos, and a lack of combination, leading to disparities and inadequacies. In spite of residing in a period of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to supply insights and options to simplify and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more a company spends on global payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of international companies have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes badly interacted hires and terminations along with lack management and system setups and after that when you round all of it off and the data is delivered to the wrong location the average cost of a global 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 efficiently if they count on the required multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're paying to staff members or otherwise that's an excellent question I always toss this back and state what is it what does not need to be included right and what does
it need to be thought about 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 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 wherever you look best ultimately constructing a knowledge base is definitely critical however everywhere you look with payroll payment they are like incredibly payments no if however some babies 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 fundamental and innovation is permitting us to kind of progress with that it also also to contribute to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely vital that payroll and finance groups work better together than ever um I'm always surprised when people say I have actually divided payroll and payment um if you stroll 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 a market accept that why our payroll and payments so often 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 anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on well-being and the payment landscape is ending up being progressively intricate. Businesses are constantly introducing new benefits and payment options, which adds to the general complexity. Large corporations typically divide their payroll and payment processing into different groups, which can lead to inadequacies and bottlenecks. In my opinion, this does not need to be the case. In today's highly advanced age, there's no reason for preserving troublesome treatments. Payroll, the company's biggest cost, must be processed properly and on time. Even minor delays can adversely affect employees' well-being and have far-reaching effects. For that reason, it's vital to focus on precise and timely payments.
payroll group get um so I'm not sure anybody on this kind of webinar has actually been told 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 workers or not um however eventually payroll is such an important cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely vital that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment service is a fantastic initial step um providing an end-to-end payroll option for your employees worldwide again I think is another big um procedure once again lining up and ensuring you have standardization International procedures all of those things are absolutely key to success success of services and decreasing the number of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyhow 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 processes and also so think of sorry I'm simply I was just gon na say think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and really see what was going on and kind of try to return to everyone so proceeding appearance why do companies pick to primary different checking account there are businesses out there doing exactly this for specific countries and I've worked in an organization or many services doing precisely that I can say it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating extra work for anybody where we don't have to and any person 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 amount that we are I think many factors one is it's the requirement I think individuals have got so used 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 number of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to add 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 process that needs looking at it requires changing however eventually people are very stuck with what they're familiar
with right um modification is a difficult thing all of us don't like modification um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having preserving numerous bank accounts but there's a huge amount of intricacy goes with setting up a bank account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for specific individuals so the intricacy is big but I believe the sincere response is change um people have not had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might practically be figured out to be the next Century approximately there is a lot to keep track of and this technique does present several obstacles um so Johnny could you tell us about those obstacles yeah obviously so there's a variety right there is so
I just did you switched 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 workers you deserve a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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