Find out more about Papaya Global Backdated Pay Rise ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and reputable method of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll process, saving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Worker Portal
Staff members have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to international workers no matter the variety of staff members in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source local benefits suppliers in every country, create regional accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work costs distributed per area, overall employment costs per cycle and much more.
Internationally, I have actually demonstrated leadership and tactical proficiency in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for overseeing payroll techniques, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. 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 a satisfaction to fulfill 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 industry, I have actually concentrated on payroll and payment services for the past seven years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of various roles on the provider side and also on the supplier 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 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 currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely dreary and I want I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies preserve different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll also review a recap and that ought to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more common and managing them ends up being a growing number of complicated International organizations are seeking to find Solutions and brand-new ways to improve procedures particularly from a payroll and cross-border payment viewpoint numerous organizations preserve different bank account just for payroll while some have several accounts in different countries does it make good sense for business to maintain separate checking account in some cases in various countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international business simplify the episode complex processes of
Guaranteeing accurate, efficient, and timely payroll payments is a complex difficulty for services operating globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to enhance working capital, and discover how simplifying international payroll payments can change them from a challenging job into a tactical possession.
Managing payroll internationally is a daunting job due to different regulations, compliance requirements, data security concerns, and banking rules. The sheer number of workers and services adds to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems typically result in manual procedures, information silos, and a lack of combination, causing inconsistencies and inadequacies. Regardless of residing in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to offer insights and options to streamline 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 Labor force data in real time that's another number that provides me sleepless nights and quite frankly the more an organization invests in worldwide payroll the less of an image they see an absence of visibility also extends to payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of international businesses have revealed that they do not 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 bad HCM information information entry errors improperly communicated hires and terminations in addition to lack management and system setups and after that when you round it all off and the data is delivered to the incorrect location the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently 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 needs to be factored into the difficulties service face when they're paying to workers or otherwise that's a good concern I always throw this back and state what is it what does not require to be included 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 country 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 have to pay from the client's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is definitely important but all over you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind 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 basic and innovation is permitting us to type of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely important that payroll and financing groups work better together than ever um I'm always impressed 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 profession 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 people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on well-being and the payment landscape is becoming progressively detailed. Businesses are continually presenting new benefits and payment choices, which contributes to the overall complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this does not need to hold true. In today's technologically sophisticated period, there's no justification for preserving troublesome treatments. Payroll, the business's most significant cost, must be processed correctly and on time. Even slight hold-ups can negatively affect workers' well-being and have far-reaching repercussions. For that reason, it's crucial to prioritize precise and timely payments.
payroll group get um so I'm unsure anybody on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle we all become aware of it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment option is a fantastic first step um supplying an end-to-end payroll service for your workers globally again I think is another big um process once again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of services and lowering the number of tools platforms and checking account they require 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 have actually never had a hundred thousand of them within a payroll cycle do not anticipate 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 rather where they're implied to be um I do not think any of us are really doing that for for the thanks
anyhow 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 simple as possible for everyone that's associated with those processes and likewise so picture sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job attempting to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and really see what was going on and kind of shot to get back to everybody so carrying on look why do business pick to primary separate savings account there are companies out there doing precisely this for specific countries and I have actually worked in an organization or many services doing exactly that I can state it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not developing extra work for anybody where we do not need to and anybody that's dealing with that procedure 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 lots of factors one is it's the requirement I think people have got so used to we need a new checking account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I think this is a procedure that needs looking at it requires altering however eventually people are really stuck to what they're familiar
with best um modification is a challenging thing all of us don't like modification um so I believe it's just kind 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 undoubtedly the benefits of having maintaining several bank accounts however there's a huge amount of complexity opts for establishing a checking account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is huge however I think the truthful answer is modification um individuals haven't had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change but we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century approximately there is a lot to monitor and this technique does present numerous challenges um so Johnny might you tell us about those challenges yeah of course so there's a variety 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 tasks on one platform. It seems like our CFO has gotten another CFO, and with this improved capability, I have successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your accomplishments.
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