Find out more about Papaya Global Classroom Courses ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and reliable method of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Staff member Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment files. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive benefits plans to global staff members regardless of the number of workers in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source regional benefits suppliers in every nation, create regional accounts and have a minimum variety of employees.
The HR abilities supplied by Worldwide HR include numerous functions such as keeping an eye on getaway time, ensuring compliance, assisting in the process of welcoming new staff members and bidding goodbye to leaving ones, using a safe and secure online platform for keeping employees' files, and offering support for work permit procedures in case your workers require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total work costs distributed per area, total work costs per cycle and a lot more.
Globally, I have actually shown leadership and strategic know-how in assisting large-scale populations of over 100,000 staff members across 170 nations. Currently, I are accountable for supervising payroll methods, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've kind of had a range of different functions on the service provider side and likewise on the vendor side from a payroll perspective so actually 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 couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very very dreary and I want I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a tactical property uh we'll also discuss a wrap-up and that ought to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of typical and managing them becomes increasingly more complicated International organizations are looking to find Solutions and brand-new methods to improve processes specifically from a payroll and cross-border payment standpoint lots of companies maintain separate checking account just for payroll while some have numerous accounts in different nations does it make good sense for business to preserve different checking account often in different countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational business improve the episode complex procedures of
Making sure precise, efficient, and timely payroll payments is a complex challenge for services operating globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, learn how business anticipate payroll costs to optimize working capital, and find how enhancing worldwide payroll payments can transform them from a troublesome task into a strategic possession.
Handling payroll worldwide is a difficult task due to numerous guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer number of employees and services adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems typically result in manual procedures, data silos, and an absence of integration, leading to inconsistencies and ineffectiveness. Despite living in a period of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to supply insights and options to simplify and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more a company spends on international payroll the less of an image they see an absence of exposure also extends to payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the deal almost half of international services have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes poorly interacted hires and terminations along with lack management and system configurations and then when you round all of it off and the information is shipped to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they rely on the needed several 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 challenges organization face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and state what is it what doesn't need to be consisted of best and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 need to pay from the consumer's own in-country account so there's intricacy wherever you look right eventually developing a knowledge base is absolutely crucial however all over you look with payroll payment they are like incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort 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 fundamental and innovation is allowing us to kind of move forward with that it also too to add to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely important that payroll and financing teams work more detailed together than ever um I'm always impressed when individuals 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 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 procedure it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on well-being and the compensation landscape is becoming significantly intricate. Organizations are continuously introducing brand-new advantages and payment alternatives, which contributes to the general intricacy. Large corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this does not need to hold true. In today's technically advanced period, there's no justification for maintaining cumbersome treatments. Payroll, the company's biggest expenditure, must be processed properly and on time. Even slight hold-ups can negatively impact workers' well-being and have far-reaching consequences. Therefore, it's critical to prioritize precise and timely payments.
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just see when things fail. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. Therefore, it is vital to guarantee that jobs like Wi-Fi Worldwide and other important matters are done properly. Utilizing the very first Worldwide Payments first payroll payment solution is a terrific initial action towards providing a comprehensive payroll solution for workers worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and checking account needed for international payroll are crucial consider accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things do not go as planned. Ultimately, we don't do it for the gratitude.
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 simple as possible for everyone that's involved in those processes and likewise so think of sorry I'm simply I was simply gon na say picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating job trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and really see what was going on and kind of shot to get back to everyone so carrying on appearance why do business pick to main separate checking account there are services out there doing exactly this for particular nations and I've operated in an organization or numerous services doing exactly that I can state it doesn't constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not producing additional 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 believe 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 individuals have got so used to we need a new bank account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard the people have embraced 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 believe this is a procedure that needs looking at it needs changing but eventually people are really stuck with what they recognize
with ideal um change is a hard thing all of us don't like modification um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having maintaining several savings account but there's a big amount of complexity opts for establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for specific individuals so the complexity is substantial but I think the sincere response is modification um individuals have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or so there is a lot to track and this method does posture a number of obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your achievements.
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