Find out more about Papaya Global And Papaya Global50 What Adifference ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and secure and trusted approach of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Staff member Website provides staff members with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to worldwide staff members regardless of the variety of workers in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source regional advantages suppliers in every country, develop regional accounts and have a minimum variety of staff members.
The HR capabilities offered by Global HR include various functions such as keeping an eye on holiday time, guaranteeing compliance, facilitating the process of inviting brand-new staff members and bidding farewell to departing ones, providing a secure online platform for saving workers' documents, and supplying assistance for work permit treatments in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall employment expenses dispersed per area, overall work expenses per cycle and far more.
Worldwide, I have shown leadership and strategic competence in assisting large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll strategies, as mentioned by Mark. My function includes managing and developing external collaborations, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
company to make the time 100 list for most prominent business in the world we supply payroll payments and workforce management to all employee types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon excellent night depending upon where you remain in the world it's beautiful to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I have actually type of had a range of different functions on the service provider side and also on the supplier side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely very uninspiring and I wish 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 obstacle years of managing Worldwide payroll why companies maintain separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a tactical asset uh we'll also go over a wrap-up which must leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of common and handling them ends up being increasingly more intricate International companies are aiming to discover Solutions and brand-new methods to simplify procedures particularly from a payroll and cross-border payment standpoint lots of organizations keep different bank account just for payroll while some have several accounts in various countries does it make sense for business to keep different checking account often in various countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business streamline the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to optimize working capital, and discover how simplifying international payroll payments can transform them from a troublesome job into a strategic possession.
Handling payroll worldwide is a complicated job due to numerous policies, compliance requirements, data security concerns, and banking guidelines. The sheer number of workers and companies adds to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual procedures, information silos, and an absence of combination, resulting in disparities and ineffectiveness. Despite living in an era of technological developments, 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 global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service spends on international payroll the less of a picture they see a lack of presence also encompasses payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the transaction almost half of international services have actually 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 bad HCM data information entry mistakes inadequately communicated hires and terminations along with absence management and system configurations and after that when you round all of it off and the data is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they count on the necessary numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles company face when they're paying to employees or otherwise that's a good question I always throw this back and state what is it what does not require to be consisted of ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 anywhere you look right ultimately building a knowledge base is absolutely vital however all over you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to sort of move on with that it also as well to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work more detailed together than ever um I'm always astonished when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on well-being and the compensation landscape is ending up being significantly complex. Organizations are continuously presenting new benefits and payment choices, which contributes to the overall intricacy. Big corporations often divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my opinion, this does not have to be the case. In today's technologically innovative age, there's no validation for keeping cumbersome procedures. Payroll, the business's greatest expenditure, need to be processed properly and on time. Even minor hold-ups can negatively affect employees' wellness and have significant repercussions. For that reason, it's critical to focus on precise and prompt payments.
payroll group get um so I'm uncertain anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle we all hear about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe 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 things is definitely important that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment solution is a fantastic primary step um offering an end-to-end payroll option for your staff members globally again I believe is another big um process once again lining up and guaranteeing you have standardization International procedures all of those things are definitely key to success success of businesses and lowering the variety of tools platforms and savings 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 had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone quite where they're suggested to be um I do not think any of us are actually doing that for for the thanks
anyway we understand how how important a role it is which'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 involved in those processes and also so envision sorry I'm simply I was just gon na say picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and sort of try to return to everybody so proceeding appearance why do business select to primary different checking account there are companies out there doing precisely this for particular nations and I've worked in an organization or numerous services doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not producing extra work for any person where we don't need to and anyone that's handling 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 think many factors one is it's the requirement I believe people have got so used to we require a brand-new checking account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have adopted and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it needs changing however eventually individuals are extremely stuck to what they're familiar
with right um change is a tough thing all of us do not like modification um so I think it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having preserving several savings account however there's a substantial quantity of intricacy goes with setting up a bank account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is big however I believe the truthful response is modification um people haven't had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could almost be identified to be the next Century approximately there is a lot to keep track of and this method does position a number of obstacles um so Johnny could you inform us about those difficulties 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 manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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