Find out more about Papaya Global And Pension Add On ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and reputable approach of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app improves my payroll process, conserving me a considerable quantity of time monthly. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
The Staff member Website provides staff members with the ability to access and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to international workers regardless of the variety of staff members in the company. The business can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages suppliers in every country, produce local accounts and have a minimum number of workers.
The HR abilities provided by Global HR include different functions such as monitoring getaway time, ensuring compliance, assisting in the process of welcoming new workers and bidding farewell to leaving ones, providing a secure online platform for storing employees' files, and offering support for work permit treatments in case your staff members need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total work expenses distributed per place, total employment costs per cycle and much more.
Internationally, I have actually shown leadership and strategic knowledge in directing large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for overseeing payroll strategies, as pointed out by Mark. My function involves managing and establishing 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 services provider.
company to make the time 100 list for most influential companies in the world we supply payroll payments and labor force management to all employee types in over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good night depending on where you are in the world it's beautiful to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the complexity 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 kind of had a range of various functions on the supplier side and also on the supplier side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting 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 really 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 dreary and I want I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why business maintain different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll likewise go over a recap and that ought to leave his time at the extremely 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 International workforces become more and more common and handling them becomes a growing number of intricate Global companies are looking to discover Solutions and new ways to improve procedures particularly from a payroll and cross-border payment viewpoint many companies keep different checking account just for payroll while some have several accounts in different countries does it make good sense for business to maintain different bank accounts in some cases in different nations it does however just for payroll is there a better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business enhance the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for services operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to enhance working capital, and discover how enhancing worldwide payroll payments can transform them from a troublesome job into a strategic property.
Managing payroll globally is a challenging job due to various policies, compliance requirements, information security issues, and banking guidelines. The sheer variety of workers and companies adds to the complexity, with an approximated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and a lack of combination, leading to disparities and inefficiencies. Despite living in a period of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to provide insights and solutions to streamline and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a service invests in global payroll the less of an image they see a lack of exposure also encompasses payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal almost half of international services have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry mistakes inadequately communicated hires and terminations as well as absence management and system setups and then when you round everything off and the data is shipped to the incorrect location the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they depend on the necessary multiple 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 organization face when they're paying to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what does not require to be consisted of right 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 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 need to pay from the client's own in-country account so there's intricacy any place you look best ultimately constructing a knowledge base is absolutely vital but all over 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 in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to kind of progress with that it also too to add to that payroll and finance need to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely vital that payroll and financing groups work better together than ever um I'm constantly impressed when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate 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 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 people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more crucial to add to type of the level of intricacy there's more and more advantages being organ or being used by companies across the world so once again you're just seeking to add more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real obstacles or genuine challenging kind of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding info into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we need to create additional handoffs at the same times that we operate in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an age of tech and a period that you understand that we are operating in today there is no reason that we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single biggest liability that any business has from a cost viewpoint from an effect viewpoint on workers it is absolutely vital that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant detrimental result on individuals's well-being and lots of other aspects if individuals aren't paid uh I have actually constantly been amazed entering this Market type of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just observe when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's perceived externally too. Therefore, it is necessary to make sure that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment service is an excellent initial step towards offering a comprehensive payroll option for employees worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and checking account required for worldwide payroll are essential consider accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things do not go as planned. Eventually, we don't do it for the appreciation.
anyway we know how how essential a function 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 likewise so imagine sorry I'm just I was just gon na state envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean 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 attempt to look through them and actually see what was going on and kind of shot to return to everybody so carrying on appearance why do business select to main separate checking account there are companies out there doing exactly this for particular nations and I've worked in a business or many companies doing precisely that I can state it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not producing extra work for anyone where we don't have to and anybody that's managing 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 amount that we are I think numerous reasons one is it's the requirement I believe individuals have got so used to we need a brand-new savings account we open an entity and appropriately 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 the people have embraced and continue to do over years and years gone past 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 believe there's a variety I believe this is a procedure that requires taking a look at it needs altering however eventually people are really stuck with what they recognize
with ideal um modification is a difficult thing all of us don't like modification um so I think it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having maintaining numerous savings account but there's a big quantity of complexity opts for setting up a checking account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific people so the intricacy is substantial however I believe the sincere response is change um individuals haven't been able to alter or have not had always the understanding to actually make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but 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 might almost be determined to be the next Century or so there is a lot to keep an eye on and this method does position numerous difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I just recently made a modification 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 boosted ability, I have actually successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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