Find out more about Papaya Global Attachment Of Earnings Report ... We now have the capability to handle 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 handling payments. This offers us with a safe and trusted technique of paying to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, saving me a significant quantity of time each month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Employee Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and work files. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive benefits packages to worldwide staff members despite the variety of staff members in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source regional benefits companies in every nation, develop local accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total employment costs dispersed per area, total work costs per cycle and far more.
Globally, I have actually demonstrated management and strategic expertise in directing massive populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for supervising payroll methods, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We focus on supplying 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 present himself. Good day to all, despite your location. It's an enjoyment to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The complexities and difficulties of this field have constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I've sort of had a variety of various functions on the service provider side and likewise on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I truly do hope it's much sunnier than it remains 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 really really dreary and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical possession uh we'll likewise go over a wrap-up which must leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being more and more typical and handling them becomes a growing number of complex International organizations are aiming to find Solutions and new ways to simplify processes especially from a payroll and cross-border payment perspective many companies keep different checking account just for payroll while some have several accounts in various nations does it make sense for business to maintain different bank accounts in some cases in different countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business simplify the episode complex procedures of
Making sure precise, efficient, and prompt payroll payments is a complex difficulty for companies operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, discover how companies anticipate payroll expenses to optimize working capital, and find how simplifying international payroll payments can change them from a troublesome task into a tactical possession.
Managing payroll internationally is a challenging job due to various guidelines, compliance requirements, data security issues, and banking rules. The sheer number of staff members and companies adds to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual processes, information silos, and a lack of integration, leading to inconsistencies and inefficiencies. In spite of living in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to provide insights and options to simplify and enhance worldwide 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 provides me sleep deprived nights and rather honestly the more an organization spends on global payroll the less of a picture they see an absence of exposure also extends to payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of global companies 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 errors are because of time reporting poor HCM information data entry errors poorly interacted hires and terminations as well as lack management and system setups and after that when you round it all off and the data is shipped to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they depend on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're paying to staff members or otherwise that's a great concern I always throw this back and state what is it what does not need to be consisted of ideal 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 amount of time 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 client's own in-country account so there's intricacy anywhere you look right eventually building a knowledge base is definitely important however everywhere you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort 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 absolutely essential and technology is enabling us to kind of move forward with that it also too to contribute to that payroll and finance require to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely important that payroll and finance teams work more detailed together than ever um I'm constantly astonished when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 people wherever they are but also paying statutory authorities and on statutory third parties so with the
The modern world places a high value on wellness and the compensation landscape is ending up being increasingly elaborate. Services are continuously presenting brand-new advantages and payment options, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this does not need to be the case. In today's technically advanced period, there's no justification for maintaining troublesome procedures. Payroll, the business's greatest expense, need to be processed correctly and on time. Even small delays can adversely impact employees' wellness and have far-reaching consequences. Therefore, it's important to prioritize precise and prompt payments.
payroll group get um so I'm unsure anyone on this sort of webinar has actually been told 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 staff members or not um however ultimately payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I think 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 absolutely crucial that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment service is a fantastic initial step um supplying an end-to-end payroll solution for your staff members globally once again I believe is another big um procedure once again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of services and lowering the variety of tools platforms and bank accounts they require for their Global payroll too couldn't 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 thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're meant to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how essential 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 simply I was just gon na state think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions think of getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and really see what was going on and kind of try to get back to everybody so moving on look why do business choose to main different savings account there are organizations out there doing exactly this for particular countries and I have actually operated in a service or numerous services doing exactly that I can state it does not always feel efficient and it does create more work I understand we're not intentionally doing that we're not developing additional work for anybody where we don't need to and any person that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the standard I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm the people have embraced and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I believe this is a process that needs taking a look at it requires altering however ultimately individuals are really stuck with what they're familiar
with right um change is a difficult thing we all do not like modification um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having maintaining numerous bank accounts but there's a big quantity of intricacy opts for setting up a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private people so the complexity is huge but I believe the honest response is change um people haven't had the ability to change or haven't had always the understanding to really make that change into alternate Solutions other than opening a bank account I believe you have actually 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 reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might almost be determined to be the next Century approximately there is a lot to track and this approach does present a number of challenges um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you deserve a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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