Find out more about Papaya Global Auto Enrolment Costs ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly committed to managing payments. This supplies us with a safe and secure and dependable method 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 control panel for my payroll, EOR and contractors
Employee Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies use competitive advantages bundles to international workers despite the variety of workers in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional advantages suppliers in every country, develop regional accounts and have a minimum number of staff members.
The HR abilities offered by Worldwide HR incorporate various functions such as keeping an eye on getaway time, making sure compliance, facilitating the process of inviting new employees and bidding goodbye to leaving ones, using a protected online platform for keeping employees' files, and providing assistance for work permit treatments in case your employees need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, overall employment costs dispersed per location, overall work costs per cycle and far more.
Worldwide, I have actually shown leadership and tactical proficiency in assisting large-scale populations of over 100,000 workers across 170 countries. Presently, I am responsible for supervising payroll strategies, as discussed by Mark. My role involves handling and developing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and labor force management services to workers 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, regardless of your location. It's a satisfaction to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of different functions on the supplier side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing 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 actually do hope it's much sunnier than it is 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 dreary and I wish I was elsewhere at this moment in time fine 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 managing Worldwide payroll why business keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll likewise discuss a recap and that needs to leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being a growing number of typical and handling them becomes a growing number of complicated Global companies are looking to find Solutions and brand-new ways to streamline processes particularly from a payroll and cross-border payment perspective lots of organizations preserve separate savings account just for payroll while some have multiple accounts in different nations does it make sense for business to preserve separate checking account in some cases in various nations it does but just for payroll is there a better way what role do virtual accounts and digital wallets also called virtual wallets play in helping multinational business streamline the episode complex procedures of
Ensuring accurate, effective, and timely payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to optimize working capital, and find how enhancing global payroll payments can transform them from a challenging job into a strategic property.
Handling payroll globally is a complicated task due to numerous guidelines, compliance requirements, information security issues, and banking rules. The sheer variety of staff members and services contributes to the complexity, with an estimated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and an absence of combination, causing disparities and inefficiencies. In spite of living in an age of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to provide insights and options to streamline and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that provides me sleep deprived nights and quite honestly the more a company spends on worldwide payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of international businesses have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes inadequately interacted hires and terminations in addition to lack management and system configurations and after that when you round everything off and the data is shipped to the incorrect location the typical expense of an international 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 efficiently if they count on the required several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles organization face when they're paying to staff members or otherwise that's a great question I constantly throw this back and say what is it what doesn't need to be included best and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 consumer's own in-country account so there's complexity anywhere you look right ultimately constructing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble incredibly payments no if however some infants 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 recognition that payroll payments are absolutely fundamental and innovation is enabling us to type of move forward with that it also too to add to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely necessary that payroll and finance teams work better together than ever um I'm always amazed when people say I've split payroll and payment um if you stroll down the street and asked anybody 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 an industry accept that why our payroll and payments so often 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 likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more important to contribute to type of the level of intricacy there's more and more advantages being organ or being used by companies throughout the world so once again you're simply looking to include increasingly more payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real challenges or genuine difficult sort of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would certainly say that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we require to develop additional handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they don't make them what they need to be in in an era of tech and an era that you understand that we are working in today there is no reason we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any company has from an expense perspective from an effect perspective on workers it is absolutely crucial that it's done properly and on time so what we mean 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 impact on people's well-being and numerous other aspects if people aren't paid uh I've constantly been amazed entering this Market kind of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just discover when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's viewed externally also. Therefore, it is necessary to make sure that tasks like Wi-Fi Global and other essential matters are done properly. Utilizing the very first International Payments very first payroll payment option is an excellent preliminary step towards providing an extensive payroll service for workers worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and savings account needed for worldwide payroll are essential factors in attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things do not go as prepared. Ultimately, we don't do it for the gratitude.
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 imagine sorry I'm simply I was simply gon na state envision 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 speaking about hundreds of thousands potentially Millions picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job 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 require days of the week to attempt to look through them and actually see what was going on and type of shot to get back to everyone so proceeding appearance why do business select to main different savings account there are companies out there doing exactly this for particular countries and I've operated in an organization or numerous services doing precisely that I can say it doesn't constantly feel effective and it does produce more work I know we're not deliberately doing that we're not producing additional work for anyone where we do not have to and anybody that's handling that process 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 numerous reasons one is it's the requirement I believe individuals have actually got so utilized 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 simply been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I think this is a procedure that requires taking a look at it needs altering however ultimately individuals are extremely stuck with what they're familiar
with best um change is a difficult thing all of us do not like change um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having maintaining numerous savings account but there's a substantial quantity of intricacy chooses setting up a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for specific people so the complexity is substantial but I believe the truthful answer is change um individuals haven't been able to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century approximately there is a lot to keep track of and this technique does present a number of difficulties um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I recently made a change to our Enterprise 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 actually gotten another CFO, and with this enhanced capability, I have effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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