Find out more about Papaya Global Change Pension Rates ... 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 obtained a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and secure and trustworthy approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive benefits packages to worldwide staff members despite the variety of workers in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source local benefits providers in every nation, produce regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, overall work costs distributed per area, total work costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and strategic knowledge in directing large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My function involves handling and establishing external collaborations, supporting Business clients, and providing 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 the majority of influential business on the planet we offer payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great night depending on where you are in the world it's charming to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually sort of had a range of different roles on the provider side and likewise on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already simply 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 is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really gloomy and I wish I was somewhere else at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a tactical asset uh we'll also discuss a recap 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 relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of common and managing them ends up being more and more intricate Global organizations are aiming to find Solutions and new methods to improve processes especially from a payroll and cross-border payment standpoint numerous organizations maintain different checking account just for payroll while some have multiple accounts in various nations does it make sense for business to preserve different checking account often in different nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies enhance the episode complex procedures of
Making sure accurate, effective, and timely payroll payments is a complex obstacle for companies operating globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, discover how business forecast payroll costs to enhance working capital, and discover how streamlining international payroll payments can transform them from a challenging job into a tactical possession.
Managing payroll globally is a daunting job due to various guidelines, compliance requirements, data security issues, and banking rules. The large number of employees and organizations contributes to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and a lack of combination, resulting in inconsistencies and inefficiencies. Despite residing in an age of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to supply insights and solutions to simplify and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force data in real time that's another number that offers me sleepless nights and rather honestly the more an organization spends on global payroll the less of a picture they see a lack of exposure also extends to payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of global companies have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors inadequately interacted hires and terminations as well as absence management and system setups and then when you round it all off and the information is shipped to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they depend on the required several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're paying to employees or otherwise that's a good concern I constantly toss this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be thought about there's varying Bank information 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 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 customer's own in-country account so there's intricacy anywhere you look best ultimately developing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you 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 definitely fundamental and innovation is permitting 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 Savings account Particulars varying banking requirements and setup processes is absolutely crucial that payroll and finance groups work better together than ever um I'm constantly impressed when people say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate 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 frequently 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 people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on well-being and the compensation landscape is becoming significantly complex. Companies are continually introducing brand-new benefits and payment alternatives, which contributes to the general complexity. Big corporations often divide their payroll and payment processing into separate groups, which can result in ineffectiveness and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technically advanced age, there's no validation for maintaining cumbersome treatments. Payroll, the business's biggest expense, need to be processed correctly and on time. Even slight delays can adversely affect staff members' well-being and have significant consequences. Therefore, it's important to focus on precise and prompt payments.
payroll team get um so I'm not sure anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all become aware of it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done correctly so leveraging the first International Payments very first payroll payment option is a terrific first step um supplying an end-to-end payroll option for your staff members worldwide once again I think is another big um process once again aligning and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of companies and decreasing the variety of tools platforms and checking account they need for their International payroll too could not 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 countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're meant to be um I don't believe any of us are actually doing that for for the thanks
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 everybody that's involved in those procedures and also so think of sorry I'm just I was simply gon na say envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions think of getting that many 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 absolutely be an interesting job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and kind of shot to return to everyone so proceeding look why do companies select to primary separate checking account there are services out there doing precisely this for specific nations and I've operated in an organization or lots of services doing exactly that I can say it doesn't always feel efficient and it does create more work I know we're not purposely doing that we're not creating additional work for anybody where we don't need to and anyone 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 lots of factors one is it's the requirement I believe people have got so used to we require a new bank account we open an entity and rightly 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 simply been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I believe this is a process that needs looking at it needs changing but ultimately individuals are extremely stuck to what they're familiar
with best um modification is a tough thing we all do not like change um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having keeping several savings account however there's a substantial quantity of intricacy goes with establishing a checking account preserving it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for private individuals so the complexity is substantial however I think the sincere answer is modification um people have not been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is knowledge you understand and there is an element of resistance to change but we have actually constantly 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 could nearly be figured out to be the next Century or so there is a lot to keep an eye on and this technique does position several difficulties um so Johnny could you tell us about those challenges yeah obviously so there's a range 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 Global workers you are worthy of a corner office with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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