Find out more about Papaya Global Can You Reprint P60 ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and trusted approach of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Staff member Portal provides workers 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 provided in various languages.
Benefits Administration
Papaya Global helps business provide competitive advantages packages to global workers no matter the number of employees in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every nation, create local accounts and have a minimum variety of staff members.
The HR abilities provided by International HR encompass numerous functions such as keeping an eye on trip time, making sure compliance, facilitating the procedure of inviting new staff members and bidding farewell to departing ones, using a protected online platform for keeping employees' files, and providing support for work allow treatments in case your staff members require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall employment costs dispersed per place, total employment expenses per cycle and a lot more.
Globally, I have shown management and strategic expertise in guiding massive populations of over 100,000 employees across 170 nations. Presently, I am responsible for overseeing payroll methods, as pointed out by Mark. My role includes managing and establishing external collaborations, supporting Business customers, and providing advisory services. In addition, 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 included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in offering 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 introduce himself. Good day to all, no matter your place. It's a pleasure to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The complexities and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I have actually type of had a range of different functions on the company side and likewise on the vendor side from a payroll perspective so truly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody comes from and I really 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 drizzling here it's extremely very uninspiring and I wish I was elsewhere at this moment in time fine so let's get going 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 separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll likewise review a wrap-up and that should leave his time at the very 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 Global workforces become more and more common and managing them ends up being a growing number of complex Worldwide companies are looking to discover Solutions and brand-new ways to streamline processes especially from a payroll and cross-border payment standpoint many organizations keep separate savings account just for payroll while some have numerous accounts in various countries does it make good sense for business to preserve separate savings account in some cases in different countries it does however just for payroll exists a much better method what role do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies simplify the episode complex procedures of
Ensuring accurate, effective, and prompt payroll payments is a complex challenge for organizations operating internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll expenses to optimize working capital, and find how improving worldwide payroll payments can change them from a troublesome job into a strategic asset.
Managing payroll internationally is a difficult job due to various regulations, compliance requirements, data security issues, and banking rules. The sheer number of employees and companies contributes to the complexity, with an estimated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems typically result in manual procedures, data silos, and an absence of combination, resulting in inconsistencies and inefficiencies. Regardless of residing in a period of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar objectives to offer insights and solutions to streamline and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more a company invests in international payroll the less of a picture they see a lack of presence likewise reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide businesses have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes inadequately communicated hires and terminations along with lack management and system setups and then when you round everything off and the information is shipped to the incorrect place the average cost 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 smoothly if they rely on the required 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 challenges business face when they're paying to workers or otherwise that's a great question I always toss this back and say what is it what does not need to be included right and what does
it need 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 customer's own in-country account so there's complexity wherever you look ideal ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if but 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 recognition that payroll payments are absolutely essential and innovation is enabling us to sort of progress with that it likewise also to add to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and financing teams work more detailed together than ever um I'm constantly amazed when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high worth on well-being and the compensation landscape is ending up being significantly elaborate. Organizations are continually presenting brand-new benefits and payment choices, which adds to the general intricacy. Large corporations frequently divide their payroll and payment processing into separate teams, which can lead to inefficiencies and bottlenecks. In my viewpoint, this does not have to be the case. In today's technically innovative period, there's no validation for maintaining troublesome treatments. Payroll, the company's greatest cost, should be processed properly and on time. Even small hold-ups can adversely affect employees' well-being and have significant effects. Therefore, it's vital to prioritize precise and timely payments.
payroll group get um so I'm not sure anybody on this kind of webinar has 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 eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the very first International Payments very first payroll payment solution is an excellent initial step um providing an end-to-end payroll service for your staff members globally again I believe is another big um procedure again lining up and ensuring you have standardization International processes all of those things are absolutely essential to success success of organizations and decreasing the variety of tools platforms and checking account they need for their Worldwide 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 have actually never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how important 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 simple as possible for everybody that's associated with those processes and likewise so picture sorry I'm just 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'm sure we're talking about hundreds of thousands possibly Millions picture getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task attempting to clean all those up for sure oh definitely 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 check out them and in fact see what was going on and type of shot to get back to everybody so moving on appearance why do business pick to main different savings account there are businesses out there doing exactly this for specific nations and I've worked in a company or lots of services doing exactly that I can say it doesn't constantly feel effective and it does create more work I know we're not purposely doing that we're not creating extra work for any person where we do not need to and anyone that's dealing with 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 believe numerous factors one is it's the standard I think individuals have got so utilized to we need a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have actually 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 think this is a procedure that needs taking a look at it requires altering but eventually individuals are really stuck with what they're familiar
with right um modification is a difficult thing we all don't like change um so I think it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having keeping multiple bank accounts but there's a substantial amount of intricacy chooses setting up a savings account preserving it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the complexity is big however I believe the sincere answer is change um individuals haven't had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I believe you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might nearly be determined to be the next Century or two there is a lot to track and this method does pose several difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you should have a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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