Find out more about Papaya Global Courses Bristol ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and reputable technique of paying to our 10,000 employees worldwide.}
The innovative global payroll management app improves my payroll procedure, saving me a substantial amount of time each month. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
Worker Website
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment documents. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to worldwide employees no matter the variety of employees in the company. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source regional benefits companies in every country, develop local accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total employment expenses dispersed per location, overall employment costs per cycle and a lot more.
Globally, I have actually demonstrated management and strategic knowledge in assisting large-scale populations of over 100,000 staff members across 170 nations. Presently, I am responsible for managing payroll methods, as pointed out by Mark. My function includes handling and developing external partnerships, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for a lot of influential business worldwide we supply payroll payments and labor force management to all worker types in over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon excellent evening depending upon where you are in the world it's beautiful to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of various functions on the provider side and also on the supplier side from a payroll viewpoint so truly looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone 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 really really gloomy and I want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies keep different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a strategic possession uh we'll also go over a recap which should leave his time at the very 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 Worldwide workforces become a growing number of common and handling them becomes increasingly more complex Global companies are seeking to discover Solutions and brand-new methods to improve procedures especially from a payroll and cross-border payment standpoint lots of companies keep separate bank account just for payroll while some have several accounts in various nations does it make good sense for business to keep separate checking account in some cases in various countries it does but just for payroll is there a better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies improve the episode complex processes of
Making sure accurate, effective, and timely payroll payments is a complex challenge for services operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to optimize working capital, and find how streamlining global payroll payments can transform them from a difficult task into a strategic asset.
Handling payroll internationally is a daunting job due to various guidelines, compliance requirements, data security concerns, and banking rules. The large variety of staff members and services adds to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and a lack of integration, leading to disparities and inefficiencies. In spite of living in an age 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 goals to provide insights and options to streamline and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more an organization invests in international payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of international businesses have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors improperly communicated hires and terminations along with lack management and system setups and after that when you round everything off and the data is shipped to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they depend on the essential several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's an excellent concern I constantly throw this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 intricacy anywhere you look best eventually developing a knowledge base is absolutely vital but all over you look with payroll payment they are like very 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 between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is permitting us to type of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely crucial that payroll and finance teams work better together than ever um I'm always amazed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work 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 eventually 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 but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high value on well-being and the settlement landscape is ending up being progressively detailed. Services are continually introducing brand-new benefits and payment choices, which adds to the total intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can lead to inefficiencies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's highly innovative period, there's no reason for keeping cumbersome treatments. Payroll, the company's biggest expenditure, must be processed correctly and on time. Even slight delays can negatively affect staff members' well-being and have significant repercussions. For that reason, it's crucial to prioritize accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle we all hear about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise 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 important that all of this things is done correctly so leveraging the first International Payments very first payroll payment solution is a great initial step um supplying an end-to-end payroll option for your workers worldwide again I believe is another huge um procedure again lining up and guaranteeing you have standardization International procedures all of those things are absolutely essential to success success of businesses and lowering the number of tools platforms and savings account they need for their Worldwide 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 ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're suggested to be um I do not think any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 everybody that's involved in those procedures and likewise so think of sorry I'm just I was simply 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 make certain we're talking about hundreds of thousands possibly Millions think of getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and in fact see what was going on and sort of shot to return to everybody so moving on look why do business pick to primary separate savings account there are businesses out there doing exactly this for specific countries and I have actually operated in a business or numerous businesses doing precisely that I can say it doesn't constantly feel efficient and it does create more work I understand we're not intentionally doing that we're not creating additional work for anybody where we do not have to and anyone that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors 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 but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have embraced and continue to do over years and years passed by to add to that individuals 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 think this is a process that requires looking at it requires changing however ultimately people are very stuck to what they recognize
with best um modification is a difficult thing all of us don't like change 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 great deal of track of things um I comprehend undoubtedly the benefits of having maintaining numerous bank accounts but there's a huge amount of intricacy chooses establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the intricacy is big but I believe the sincere response is modification um people have not had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I believe you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century approximately there is a lot to monitor and this technique does pose a number of challenges um so Johnny might you tell us about those obstacles 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 handle our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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