Find out more about Papaya Global Classroom Training ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and reputable approach of making payments to our 10,000 employees worldwide.}
The advanced international payroll management app enhances my payroll process, saving me a substantial amount of time every month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Worker Portal provides workers with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to global staff members despite the variety of employees in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local benefits providers in every nation, develop local accounts and have a minimum variety of workers.
The HR abilities supplied by Global HR encompass numerous functions such as monitoring trip time, making sure compliance, assisting in the process of welcoming new employees and bidding goodbye to departing ones, providing a secure online platform for saving employees' documents, and offering support for work permit treatments in case your staff members require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, total work costs distributed per location, overall work costs per cycle and a lot more.
Worldwide, I have actually demonstrated leadership and strategic knowledge in guiding massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My role involves managing and developing external partnerships, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on 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, regardless of your location. It's an enjoyment to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment options for the past seven years. The complexities and obstacles of this field have actually constantly captivated me.
payroll payments and chose 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 functions on the provider side and likewise on the vendor side from a payroll point of view so actually 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 give everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll type 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 sort of like see where everyone comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely gloomy and I want I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business preserve separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll likewise review a recap and that ought to leave his time at the really 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 Global labor forces end up being more and more typical and managing them becomes more and more complicated Global organizations are aiming to discover Solutions and new ways to simplify procedures especially from a payroll and cross-border payment viewpoint numerous companies keep separate savings account just for payroll while some have numerous accounts in various nations does it make good sense for business to keep different checking account sometimes in different nations it does however just for payroll is there a better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business improve the episode complex procedures of
Ensuring precise, effective, and timely payroll payments is a complex difficulty for services running worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, find out how business forecast payroll expenses to enhance working capital, and discover how enhancing international payroll payments can transform them from a burdensome job into a tactical possession.
Handling payroll internationally is a daunting job due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The large number of workers and organizations contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically lead to manual processes, information silos, and an absence of combination, causing inconsistencies and inefficiencies. Regardless of living in an era of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to offer insights and options to simplify and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a company invests in global payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal nearly half of worldwide companies have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes poorly communicated hires and terminations in addition to absence management and system configurations and then when you round everything off and the data is shipped to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they rely on the necessary several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties company face when they're paying to workers or otherwise that's a great concern I always toss this back and say what is it what doesn't need to be included best and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 right ultimately building a knowledge base is definitely important but everywhere 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 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 acknowledgment that payroll payments are definitely basic and innovation is permitting us to sort of progress with that it also too to contribute to that payroll and finance require to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely crucial that payroll and financing groups work more detailed together than ever um I'm always amazed when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high worth on wellness and the settlement landscape is becoming progressively elaborate. Organizations are continuously presenting brand-new advantages and payment alternatives, which adds to the general complexity. Big corporations often divide their payroll and payment processing into separate teams, which can cause inefficiencies and bottlenecks. In my opinion, this does not need to hold true. In today's highly sophisticated era, there's no justification for preserving cumbersome treatments. Payroll, the business's biggest expense, must be processed correctly and on time. Even small hold-ups can adversely impact employees' well-being and have far-reaching consequences. For that reason, it's critical to prioritize precise and timely payments.
payroll team get um so I'm not sure anybody on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe 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 things is absolutely crucial that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment option is a great primary step um offering an end-to-end payroll option for your employees internationally again I believe is another substantial um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of businesses and reducing the number of tools platforms and bank accounts they need for their International 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've never had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or 10 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 think any of us are actually doing that for for the thanks
anyhow we understand how how important a function it is and that'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 likewise so imagine sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many 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 picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and really see what was going on and type of try to return to everybody so moving on appearance why do business choose to main separate checking account there are companies out there doing precisely this for particular countries and I have actually operated in a business or numerous businesses doing exactly that I can state it does not constantly feel effective and it does produce more work I know we're not intentionally doing that we're not producing additional work for anybody where we don't need to and anybody that's dealing with that process 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 believe numerous reasons one is it's the standard I think people have got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I think this is a process that requires taking a look at it needs changing but eventually people are very stuck to what they're familiar
with best um change is a tough thing all of us do not like modification um so I believe it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having preserving several checking account but there's a big amount of intricacy chooses establishing a checking account preserving it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private people so the complexity is big but I believe the honest response is modification um individuals haven't been able to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be identified to be the next Century or two there is a lot to track and this method does posture a number of challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this improved ability, I have effectively secured payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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