Find out more about Papaya Global Coronavirus Ssp ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a protected and dependable method of making payments to our 10,000 staff members worldwide.}
The advanced global payroll management app improves my payroll process, saving me a substantial quantity of time each month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Staff member Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment documents. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive advantages bundles to international workers regardless of the number of staff members in the business. The company can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source local advantages providers in every country, create regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment costs dispersed per area, overall work expenses per cycle and much more.
Worldwide, I have actually shown leadership and strategic proficiency in assisting massive populations of over 100,000 workers across 170 nations. Currently, I are accountable for overseeing payroll methods, as pointed out by Mark. My role involves managing and developing external collaborations, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for the majority of influential companies worldwide we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great evening depending upon where you remain in the world it's lovely to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've sort of had a variety of different functions on the service provider side and also on the supplier side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I actually 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 really extremely uninspiring and I want I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies maintain separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly useful for global companies with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to enhance working capital, and find how streamlining global payroll payments can change them from a challenging job into a strategic property.
Managing payroll internationally is a difficult task due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The large number of staff members and businesses adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and an absence of combination, leading to inconsistencies and inefficiencies. Despite residing in an era of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to supply insights and solutions to streamline and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of a picture they see a lack of visibility likewise extends to payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes poorly interacted hires and terminations in addition to absence management and system setups and after that when you round it all off and the data is shipped to the wrong place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they depend on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're making payments to workers or otherwise that's a great question I constantly throw this back and say what is it what doesn't require to be consisted of right 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 nation 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 complexity any place you look ideal eventually building a knowledge base is absolutely critical but everywhere you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort 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 allowing us to sort of move forward with that it also also to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and financing teams work closer together than ever um I'm constantly amazed when people say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split 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 likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on wellness and the payment landscape is ending up being progressively complex. Companies are continually introducing new benefits and payment options, which adds to the overall intricacy. Large corporations typically divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my opinion, this does not have to hold true. In today's technologically sophisticated age, there's no justification for preserving troublesome procedures. Payroll, the company's biggest expenditure, need to be processed correctly and on time. Even minor hold-ups can adversely affect workers' wellness and have significant consequences. Therefore, it's critical to focus on precise and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only see when things go wrong. However, when things go right, it's seen as simply a regular job. This is how it's perceived externally as well. For that reason, it is important to make sure that jobs like Wi-Fi International and other vital matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment solution is a great initial action towards supplying a detailed payroll option for employees worldwide. Standardization, worldwide processes, and lowering the variety of tools, platforms, and checking account needed for international payroll are crucial factors in attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things do not go as planned. Ultimately, we do not do it for the gratitude.
anyhow we know 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 processes and likewise so think of sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see the number of 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 browse them and really see what was going on and type of try to get back to everybody so proceeding look why do companies choose to main separate bank accounts there are organizations out there doing exactly this for particular countries and I've operated in a business or numerous businesses doing precisely that I can say it does not constantly feel efficient and it does create more work I know we're not purposely doing that we're not developing additional work for any person where we do not have to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the standard I think people have got so utilized to we need a new bank account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I believe this is a process that requires taking a look at it needs altering however eventually people are really stuck with what they're familiar
with ideal um modification is a difficult thing all of us do not like modification um so I think it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having preserving several savings account however there's a big amount of complexity chooses setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is big but I believe the truthful answer is modification um people have not had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we've constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century or two there is a lot to keep an eye on and this technique does pose numerous difficulties um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this improved ability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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