Find out more about Papaya Global Changing From 4 Weekly To Monthly ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and dependable method of paying to our 10,000 workers worldwide.}
The advanced international payroll management app enhances my payroll procedure, saving me a significant quantity of time every month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
The Worker Portal provides staff members with the ability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global assists business offer competitive benefits plans to international workers regardless of the variety of employees in the business. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source local benefits service providers in every country, develop local accounts and have a minimum variety of workers.
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 license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, overall employment expenses dispersed per area, total employment expenses per cycle and far more.
Internationally, I have shown management and tactical proficiency in assisting massive populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for supervising payroll techniques, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for many influential companies on the planet we supply payroll payments and labor force management to all staff member types in 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 of course thank you good morning great afternoon good night depending on where you remain in the world it's charming to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last five or 6 years where I have actually sort of had a range of different roles on the company side and also on the vendor side from a payroll point of view so really looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating 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 comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really very gloomy and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly helpful for international companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex difficulty for organizations running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, find out how companies anticipate payroll costs to enhance working capital, and find how streamlining global payroll payments can change them from a difficult task into a tactical asset.
Managing payroll globally is a challenging job due to various guidelines, compliance requirements, information security issues, and banking rules. The sheer variety of employees and businesses contributes to the intricacy, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems often lead to manual processes, data silos, and an absence of combination, resulting in disparities and ineffectiveness. Despite living in a period of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to supply insights and solutions to simplify and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service spends on worldwide payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide organizations have revealed 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 bad HCM data information entry mistakes poorly interacted hires and terminations in addition to lack management and system setups and then when you round everything off and the information is delivered to the wrong location 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 around the world payroll and payments don't run smoothly if they depend on the necessary numerous processes 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 company face when they're paying to employees or otherwise that's a good concern I always toss this back and say what is it what doesn't need to be consisted of right and what does
it need 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 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 developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 definitely basic and technology is enabling us to sort of progress with that it also as well to contribute to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely crucial that payroll and financing groups work better together than ever um I'm always impressed when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work 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 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 individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to add to type of the level of intricacy there's increasingly more advantages being organ or being used by companies across the world so again you're simply aiming to include more and more payments to this currently complex landscape so if you kind of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine obstacles or real tough type of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would absolutely say that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding details into the next function as it were that's actually managing the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to produce additional handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they don't make them what they need to be in in a period of tech and a period that you understand that we are working in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any company has from a cost point of view from an impact viewpoint on staff members it is definitely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging impact on people's wellness and numerous other factors if people aren't paid uh I have actually constantly been surprised entering into this Market kind of the last 5 to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's perceived externally as well. For that reason, it is important to guarantee that jobs like Wi-Fi Global and other crucial matters are done properly. Using the very first Worldwide Payments very first payroll payment solution is a great initial step towards supplying a thorough payroll option for staff members worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and savings account needed for worldwide payroll are key factors in accomplishing organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyhow we understand how how crucial a role 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 everyone that's involved in those procedures and likewise so imagine sorry I'm just I was just gon na say think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions imagine getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and kind of shot to return to everyone so proceeding look why do companies select to primary different checking account there are services out there doing precisely this for particular nations and I've worked in a service or lots of businesses doing exactly that I can state it doesn't always feel effective and it does create more work I know we're not deliberately doing that we're not creating additional work for any person where we don't have to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think 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 need a new checking 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 think it's simply been the requirement and the norm individuals have adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to sort of do it so I think there's a range I think this is a process that requires looking at it needs altering but ultimately individuals are extremely stuck with what they recognize
with right um change is a tough thing all of us don't 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 lot of track of things um I comprehend certainly the benefits of having maintaining multiple savings account however there's a big amount of complexity chooses setting up a checking account maintaining it ensuring it can send International transfers ensuring it's set up with the best user accesses for specific people so the intricacy is big but I believe the honest response is modification um people haven't been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be identified to be the next Century approximately there is a lot to track and this approach does posture several obstacles um so Johnny could you tell us about those obstacles 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'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 closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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