Find out more about Papaya Global Cleanup Tool ... 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 acquired a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and secure and reliable technique of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app improves my payroll procedure, conserving me a considerable quantity of time monthly. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
The Employee Website offers staff members with the capability to access and view important documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global assists business offer competitive advantages plans to global employees no matter the variety of employees in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source regional benefits providers in every nation, develop regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, total employment costs dispersed per area, overall work expenses per cycle and much more.
environments around the world I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business managing and structure external relationships supporting Business clients and services along with serving as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on supplying payroll and workforce management services to workers 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 satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment services for the past 7 years. The intricacies and challenges of this field have always captivated me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually type of had a range of various roles on the supplier side and likewise on the vendor side from a payroll viewpoint so really looking forward to this conversation 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 approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very very dreary and I want I was elsewhere at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic property uh we'll likewise review a wrap-up and that ought to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of common and managing them becomes increasingly more complicated Worldwide companies are wanting to discover Solutions and new ways to streamline procedures specifically from a payroll and cross-border payment viewpoint numerous organizations keep different checking account just for payroll while some have numerous accounts in different countries does it make good sense for companies to maintain separate checking account sometimes in different countries it does but just for payroll is there a much better way what role do virtual accounts and digital wallets also called virtual wallets play in assisting international companies streamline the episode complex procedures of
Making sure precise, effective, and timely payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how business forecast payroll costs to optimize working capital, and find how enhancing global payroll payments can transform them from a challenging job into a strategic possession.
Handling payroll worldwide is a daunting job due to different guidelines, compliance requirements, information security issues, and banking rules. The large number of employees and companies adds to the intricacy, with an estimated 3.5 billion people in the worldwide 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 integration, causing inconsistencies and inefficiencies. Regardless of residing in an era of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to supply insights and services to simplify and optimize global 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 offers me sleepless nights and quite honestly the more a service spends on international payroll the less of a photo they see a lack of presence also reaches payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the deal nearly half of global companies have expressed 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 because of time reporting bad HCM information data entry mistakes poorly interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the information is delivered to the incorrect place the typical expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they count on the essential numerous processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're paying to staff members or otherwise that's a great question I always toss this back and say what is it what does not require to be included best and what does
it require to be considered there's varying Bank details 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look best eventually building a knowledge base is definitely crucial but all over 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to type of move on with that it likewise too to add to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely essential that payroll and finance teams work closer together than ever um I'm constantly amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of essential to contribute to sort of the level of complexity there's increasingly more benefits being organ or being offered by companies across the world so once again you're simply wanting to add increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real challenges or real challenging kind of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a number of decades I would absolutely state that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding details into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and an age that you understand that we are operating in today there is no reason we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single most significant liability that any organization has from a cost point of view from an effect perspective on employees it is definitely critical that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the biggest damaging effect on individuals's well-being and lots of other factors if people aren't paid uh I've constantly been surprised entering this Market kind of the last five 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 actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just see when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's viewed externally too. For that reason, it is important to ensure that tasks like Wi-Fi International and other vital matters are done correctly. Utilizing the first Worldwide Payments first payroll payment option is a terrific preliminary action towards offering a detailed payroll service for employees worldwide. Standardization, global processes, and decreasing the number of tools, platforms, and checking account needed for worldwide payroll are essential consider attaining organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyhow 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 associated with those procedures and also so picture sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions picture getting that numerous 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 intriguing job attempting 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 attempt to look through them and really see what was going on and kind of try to get back to everybody so proceeding appearance why do business pick to main separate bank accounts there are organizations out there doing precisely this for specific countries and I have actually operated in an organization or numerous organizations doing precisely that I can say it does not always feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for anyone where we don't have to and anyone that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think numerous reasons one is it's the requirement I believe people have got so used to we require a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I think this is a process that requires looking at it needs changing but ultimately individuals are really stuck with what they're familiar
with right um modification is a hard thing all of us don't like modification um so I think it's simply sort of moving away from the norm 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 multiple bank accounts but there's a substantial quantity of complexity chooses establishing a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is substantial but I think the truthful response is modification um individuals haven't had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what could almost be identified to be the next Century or two there is a lot to track and this technique does present several challenges um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I simply did you changed 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 International staff members you are worthy of a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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