Find out more about Papaya Global Configuration File ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a safe and trusted method of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app simplifies my payroll procedure, conserving me a substantial quantity of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
The Worker Portal supplies staff members with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to international staff members regardless of the variety of staff members in the company. The business can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local benefits suppliers in every country, develop local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall employment expenses distributed per location, total work expenses per cycle and a lot more.
Globally, I have shown leadership and tactical expertise in guiding large-scale populations of over 100,000 staff members across 170 nations. Currently, I are accountable for managing payroll methods, as mentioned by Mark. My function includes managing and establishing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
company to make the time 100 list for many influential business worldwide we supply payroll payments and workforce management to all worker key ins over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon good evening depending on where you are in the world it's lovely to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually type of had a range of different roles 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 very much for your time everybody all right thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains 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 extremely extremely dreary and I wish I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic property uh we'll also review a recap which must leave his time at the extremely 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 typical and handling them ends up being a growing number of complicated Worldwide companies are seeking to find Solutions and brand-new methods to enhance processes particularly from a payroll and cross-border payment viewpoint numerous organizations keep different savings account just for payroll while some have multiple accounts in various nations does it make good sense for business to keep different checking account sometimes in various countries it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business streamline the episode complex processes of
Ensuring accurate, effective, and timely payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, learn how business anticipate payroll expenses to optimize working capital, and find how simplifying international payroll payments can transform them from a troublesome task into a tactical asset.
Handling payroll worldwide is a challenging job due to various guidelines, compliance requirements, information security concerns, and banking rules. The large number of staff members and organizations contributes to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Traditional payroll systems often result in manual procedures, information silos, and a lack of integration, leading to disparities and inadequacies. Despite residing in an era of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to offer insights and services to simplify and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more a company invests in global payroll the less of an image they see a lack of presence also encompasses payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide companies have actually expressed that they don't 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 information information entry errors improperly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the data is shipped to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they rely on the essential several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges service face when they're making payments to staff members or otherwise that's an excellent question I always toss 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 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 capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy any place you look right eventually developing a knowledge base is absolutely vital but all over you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind 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 technology is enabling us to sort of move forward with that it also as well to add to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing groups work better together than ever um I'm constantly astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from computation 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 process it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on wellness and the compensation landscape is becoming significantly complex. Businesses are continuously presenting brand-new advantages and payment choices, which adds to the total complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can cause inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's highly innovative period, there's no reason for maintaining cumbersome treatments. Payroll, the company's most significant expense, need to be processed properly and on time. Even small delays can negatively impact employees' well-being and have far-reaching consequences. For that reason, it's crucial to prioritize accurate and timely payments.
payroll team get um so I'm not sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle all of us hear 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 exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is a terrific initial step um supplying an end-to-end payroll option for your employees globally once again I believe is another substantial um process again lining up and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of services and reducing the number of tools platforms and checking account they need for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone quite where they're meant to be um I do not believe any of us are actually doing that for for the thanks
anyway 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 simple as possible for everybody that's involved in those procedures and likewise so think of sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing task attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and in fact see what was going on and sort of try to return to everyone so carrying on appearance why do companies choose to main different bank accounts there are organizations out there doing exactly this for specific countries and I've operated in a service or numerous businesses doing exactly that I can state it does not always feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing extra work for any person where we don't need to and any person that's dealing with that procedure 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 reasons one is it's the requirement I think individuals have got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I believe this is a procedure that requires taking a look at it needs changing however ultimately people are very stuck with what they recognize
with ideal um modification is a challenging thing all of us don't like modification um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having maintaining multiple savings account but there's a substantial quantity of complexity opts for establishing a savings account preserving it guaranteeing it can send International transfers ensuring it's established with the right user accesses for private individuals so the intricacy is big but I believe the honest answer is change um individuals haven't had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change but we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century or so there is a lot to track and this method does position a number of obstacles um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just did you switched our Enterprise 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 Worldwide staff members you are worthy of a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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