Find out more about Papaya Global Computer Requirements ... 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 acquired a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a secure and trusted method of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and specialists
The Employee Website provides employees with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global assists business provide competitive benefits bundles to worldwide employees no matter the number of staff members in the business. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source local benefits providers in every nation, create regional accounts and have a minimum variety of employees.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total work costs dispersed per area, total work costs per cycle and a lot more.
Worldwide, I have actually shown management and tactical knowledge in assisting large-scale populations of over 100,000 employees across 170 nations. Currently, I are accountable for supervising payroll strategies, as discussed by Mark. My function involves handling and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a pleasure 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 focused on payroll and payment options for the past 7 years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of different functions on the supplier side and also on the vendor side from a payroll point of view so actually anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating 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 everybody comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very extremely bleak and I wish I was elsewhere at this moment in time okay so let's get started 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
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and prompt payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business forecast payroll expenses to enhance working capital, and find how simplifying worldwide payroll payments can transform them from a burdensome task into a strategic possession.
Handling payroll internationally is a daunting task due to numerous guidelines, compliance requirements, data security issues, and banking guidelines. The large variety of workers and organizations contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently result in manual processes, data silos, and a lack of integration, causing disparities and ineffectiveness. Regardless of living in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to offer insights and options to streamline and enhance worldwide payroll payments.
about it to provide you a concept 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 provides me sleepless nights and rather honestly the more a business invests in worldwide payroll the less of a photo they see an absence of exposure also encompasses payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of global services have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes inadequately communicated hires and terminations as well as lack management and system configurations and then when you round everything off and the data is shipped to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they count on the required multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're making payments to employees or otherwise that's a great concern I always throw this back and say what is it what does not require to be consisted of ideal and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 consumer's own in-country account so there's complexity wherever you look right eventually building a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is allowing us to kind of move on with that it also as well to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely imperative that payroll and finance teams work more detailed together than ever um I'm constantly amazed when individuals state 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 divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on wellness and the compensation landscape is becoming progressively detailed. Companies are continuously introducing new advantages and payment choices, which adds to the total complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can cause inefficiencies and bottlenecks. In my viewpoint, this does not need to be the case. In today's technically advanced period, there's no reason for keeping cumbersome procedures. Payroll, the company's biggest expenditure, must be processed correctly and on time. Even slight delays can negatively impact staff members' wellness and have significant effects. Therefore, it's important to prioritize precise and timely payments.
payroll team get um so I'm not exactly sure anyone on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment solution is a terrific primary step um offering an end-to-end payroll solution for your employees internationally again I think is another substantial um procedure again lining up and ensuring you have standardization International procedures all of those things are absolutely key to success success of companies and decreasing the variety of tools platforms and savings account they need for their Worldwide payroll too could not 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 thousand of them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we understand how how essential a role 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 simple as possible for everyone that's associated with those procedures and also so picture sorry I'm simply 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'm sure we're discussing hundreds of thousands possibly Millions think of getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and really see what was going on and type of try to return to everybody so carrying on look why do business select to primary different checking account there are organizations out there doing precisely this for particular nations and I have actually worked in an organization or lots of businesses doing exactly that I can state it doesn't always feel effective and it does produce more work I know we're not deliberately doing that we're not producing extra work for anybody where we don't have to and anyone that's managing 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 believe numerous factors one is it's the standard I think individuals have got so utilized to we require a new bank account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I think this is a procedure that requires taking a look at it needs changing but eventually individuals are really stuck with what they recognize
with best um change is a hard thing all of us do not like modification um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having keeping multiple checking account however there's a substantial quantity of intricacy opts for setting up a savings account keeping it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the complexity is substantial but I think the sincere answer is modification um individuals have not had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be identified to be the next Century approximately there is a lot to monitor and this technique does pose a number of difficulties um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you are worthy of a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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