Find out more about Rollback Papaya Global ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to managing payments. This offers us with a secure and trusted approach of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app streamlines my payroll process, saving me a significant quantity of time every month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Worker Portal provides workers with the capability to access and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global assists business provide competitive benefits packages to international workers no matter the variety of staff members in the business. The business can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source local benefits companies in every nation, produce regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall employment costs dispersed per place, total work costs per cycle and far more.
Worldwide, I have actually demonstrated leadership and tactical know-how in assisting massive populations of over 100,000 employees across 170 countries. Currently, I am responsible for managing payroll strategies, as discussed by Mark. My function involves managing and developing external partnerships, supporting Enterprise clients, and offering advisory services. In addition, 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 distinguished Time 100 list of the most prominent business 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 discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and difficulties of this field have actually always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually type of had a range of various roles on the company side and likewise on the vendor side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody comes from and I really do hope it's much sunnier than it remains 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 gloomy and I wish I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic asset uh we'll also go over a wrap-up which should leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become increasingly more common and handling them ends up being more and more complex Global organizations are wanting to find Solutions and new methods to enhance processes specifically from a payroll and cross-border payment viewpoint many organizations maintain separate savings account just for payroll while some have several accounts in different countries does it make sense for companies to maintain different bank accounts sometimes in different nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies streamline the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for businesses operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, find out how business anticipate payroll costs to optimize working capital, and discover how streamlining worldwide payroll payments can change them from a difficult job into a tactical possession.
Managing payroll globally is an overwhelming job due to various guidelines, compliance requirements, data security issues, and banking guidelines. The sheer variety of staff members and services adds to the complexity, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and an absence of integration, resulting in disparities and ineffectiveness. In spite of residing in an era of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to offer insights and services to streamline and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more an organization spends on global payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide services have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes improperly communicated hires and terminations in addition to lack management and system setups and after that when you round all of it 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 once payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they count on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges organization face when they're paying to workers or otherwise that's a good question I constantly toss this back and say what is it what doesn't require to be included right and what does
it need to be thought about there's differing Bank details 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 need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is definitely critical but all over you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in 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 innovation is allowing us to type of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is absolutely important that payroll and financing teams work closer together than ever um I'm always surprised when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from estimation 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 individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on wellness and the compensation landscape is becoming significantly elaborate. Services are constantly presenting new advantages and payment alternatives, which adds to the overall complexity. Large corporations often divide their payroll and payment processing into separate groups, which can lead to inadequacies and traffic jams. In my opinion, this does not have to be the case. In today's highly innovative era, there's no reason for preserving troublesome procedures. Payroll, the company's biggest cost, must be processed properly and on time. Even small hold-ups can adversely affect employees' well-being and have far-reaching repercussions. Therefore, it's important to prioritize accurate and prompt payments.
payroll group get um so I'm not exactly sure anyone on this kind of webinar has 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 staff members or not um however ultimately payroll is such a crucial 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 just a tick box workout and I believe that's how it's seen from the external consider as 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 properly so leveraging the first Worldwide Payments very first payroll payment option is an excellent first step um supplying an end-to-end payroll service for your workers globally once again I believe is another substantial um process once again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely crucial to success success of businesses and reducing the variety 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 ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
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 easy as possible for everybody that's involved in those processes and also so picture sorry I'm just I was simply gon na say envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions imagine getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and really see what was going on and type of shot to get back to everybody so proceeding appearance why do companies select to primary separate bank accounts there are organizations out there doing precisely this for particular countries and I've worked in a service or lots of organizations doing exactly that I can state it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not developing additional work for anyone where we don't have to and anybody that's dealing with that procedure 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 numerous factors one is it's the requirement I believe individuals have got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll purposes but 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 actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I believe this is a process that requires looking at it needs changing however ultimately individuals are really stuck to what they're familiar
with right um change is a hard thing all of us do not like change um so I believe 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 stuff um I understand clearly the benefits of having preserving numerous bank accounts however there's a huge quantity of intricacy goes with establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the intricacy is huge however I think the truthful response is modification um people have not been able to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to monitor and this technique does present numerous obstacles um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your accomplishments.
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