Find out more about Papaya Global Cjrs ... 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 acquired a separate Chief Financial Officer specifically committed to managing payments. This offers us with a secure and reputable approach of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, conserving me a substantial quantity of time each month. With its easy to use user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
Employee Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to international staff members no matter the number of employees in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source local benefits providers in every country, develop regional accounts and have a minimum variety of workers.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total work costs distributed per location, overall work expenses per cycle and a lot more.
Internationally, I have actually shown management and strategic competence in assisting massive populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for overseeing payroll methods, as mentioned by Mark. My function involves handling and establishing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I've type of had a variety of various roles on the service provider side and also on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting 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 everybody originates from and I actually 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 really very gloomy and I want I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business preserve different
checking account payroll virtual wallets versus payroll bank accounts 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 likewise review a wrap-up and that must leave his time at the very very 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 International workforces end up being increasingly more common and handling them ends up being increasingly more intricate Worldwide companies are looking to discover Solutions and brand-new ways to improve procedures particularly from a payroll and cross-border payment perspective many organizations keep different checking account just for payroll while some have multiple accounts in different countries does it make sense for companies to maintain different bank accounts often in different nations it does but just for payroll is there a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international companies streamline the episode complex procedures of
Ensuring precise, efficient, and timely payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and discover how simplifying global payroll payments can transform them from a difficult task into a strategic asset.
Managing payroll worldwide is a difficult job due to various regulations, compliance requirements, data security concerns, and banking guidelines. The large number of workers and businesses adds to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems typically lead to manual procedures, information silos, and a lack of integration, leading to inconsistencies and ineffectiveness. Regardless of living in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to provide insights and services to streamline and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more a service spends on international payroll the less of an image they see a lack of exposure also extends to payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of international services have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors badly communicated hires and terminations as well as absence management and system setups and then when you round it all off and the information is delivered to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they count on the necessary several 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 challenges service face when they're paying to workers or otherwise that's an excellent concern I always toss this back and say what is it what doesn't need to be included ideal 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 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 intricacy any place you look right ultimately building a knowledge base is absolutely important however everywhere you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 essential and technology is permitting us to sort of move on with that it also also to add to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is definitely essential that payroll and financing groups work closer together than ever um I'm constantly impressed when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are however also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on wellness and the compensation landscape is ending up being significantly complex. Businesses are constantly introducing brand-new benefits and payment alternatives, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my viewpoint, this does not need to be the case. In today's highly innovative era, there's no validation for maintaining troublesome treatments. Payroll, the business's most significant expenditure, must be processed properly and on time. Even small delays can adversely impact workers' wellness and have significant consequences. Therefore, it's important to focus on accurate and timely payments.
payroll team get um so I'm not sure anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe 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 things is definitely essential that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment option is an excellent primary step um providing an end-to-end payroll option for your employees internationally again I think is another huge um process once again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely crucial to success success of organizations and decreasing the variety of tools platforms and checking account they require for their Global 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 ever had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyhow we understand 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 simple as possible for everybody that's associated with those processes and also so envision 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'm sure we're speaking about numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting task attempting to clean 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 need days of the week to try to check out them and in fact see what was going on and type of shot to get back to everyone so proceeding look why do companies choose to primary separate checking account there are organizations out there doing exactly this for specific nations and I have actually operated in a service or numerous services doing exactly that I can state it doesn't always feel effective and it does develop more work I know we're not purposely doing that we're not developing extra work for anybody where we don't have to and anyone 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 numerous factors one is it's the requirement I think individuals have actually got so used to we need a brand-new savings account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I think this is a procedure that requires looking at it needs altering however ultimately people are extremely stuck with what they recognize
with right um change is a hard thing all of us do not like modification um so I believe it's just kind 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 understand obviously the advantages of having preserving several savings account but there's a big quantity of complexity chooses establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the complexity is huge but I believe the honest response is change um people haven't been able to alter or have not had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to change but we've constantly done it that way is no real 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 determined to be the next Century or two there is a lot to monitor and this technique does present several obstacles um so Johnny could you inform us about those challenges yeah obviously 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 Global staff members you deserve a corner office with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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