Find out more about Papaya Global Courses Classroom ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and reputable technique of paying to our 10,000 employees worldwide.}
The innovative international payroll management app enhances my payroll procedure, conserving me a considerable amount of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Worker Website
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment documents. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to global employees no matter the number of staff members in the business. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source local advantages suppliers in every country, develop local accounts and have a minimum number of workers.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, total work costs distributed per area, total employment expenses per cycle and a lot more.
Globally, I have demonstrated management and strategic competence in guiding massive populations of over 100,000 staff members throughout 170 nations. Presently, I am responsible for overseeing payroll techniques, as discussed by Mark. My function involves managing and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As an international business, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We specialize in offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment services for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I've sort of had a range of various roles on the service provider side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just provide everyone another number of uh well one of 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 just to hear where everyone 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 drizzling here it's extremely very uninspiring and I want I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is especially useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different checking account for payroll in different countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex obstacle for companies operating internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, learn how companies forecast payroll expenses to enhance working capital, and discover how improving worldwide payroll payments can change them from a troublesome job into a strategic property.
Handling payroll worldwide is an overwhelming job due to different regulations, compliance requirements, data security concerns, and banking rules. The large variety of employees and organizations adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual procedures, information silos, and a lack of combination, resulting in inconsistencies and inadequacies. Despite living in an age of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to provide insights and services to simplify and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force information in real time that's another number that provides me sleepless nights and rather honestly the more a company invests in international payroll the less of a picture they see a lack of presence likewise extends to payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of international services have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors poorly interacted hires and terminations along with lack management and system setups and then when you round everything off and the information is delivered to the incorrect location the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they count on the essential numerous 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 difficulties service face when they're paying to employees or otherwise that's a great concern I always toss this back and state what is it what does not need to be included right and what does
it require to be thought of there's differing 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 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 customer's own in-country account so there's complexity anywhere you look right ultimately building a knowledge base is definitely critical but all over you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 innovation is allowing us to type of move forward with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely important that payroll and financing teams work more detailed together than ever um I'm always impressed when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on well-being and the compensation landscape is becoming increasingly intricate. Businesses are continuously introducing brand-new benefits and payment alternatives, which contributes to the general intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can result in inadequacies and bottlenecks. In my opinion, this does not have to hold true. In today's highly innovative period, there's no reason for maintaining cumbersome treatments. Payroll, the company's biggest expenditure, need to be processed properly and on time. Even minor hold-ups can adversely impact employees' well-being and have far-reaching repercussions. Therefore, it's critical to focus on precise and prompt payments.
payroll group get um so I'm not sure anybody on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle all of us hear about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the very first Global Payments very first payroll payment service is an excellent first step um offering an end-to-end payroll solution for your workers worldwide once again I believe is another big um process once again lining up and ensuring you have standardization International procedures all of those things are absolutely crucial to success success of services and lowering the number of tools platforms and bank accounts they need for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyhow we know how how important 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 easy as possible for everyone that's involved in those procedures and likewise so think of sorry I'm just I was simply gon na say envision 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 possibly Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and in fact see what was going on and type of shot to get back to everyone so proceeding look why do companies pick to main different bank accounts there are companies out there doing exactly this for specific countries and I have actually operated in an organization or numerous businesses doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not producing additional work for anyone where we don't need to and anyone that's handling 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 quantity that we are I think lots of reasons one is it's the requirement I think individuals have actually got so utilized to we require a new checking account we open an entity and rightly so you need 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 standard and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I think this is a procedure that requires looking at it needs altering but eventually individuals are really stuck with what they recognize
with ideal um modification is a hard thing we all do not like modification um so I think it's just type of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having keeping multiple savings account however there's a big amount of complexity opts for establishing a savings account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is substantial however I believe the honest answer is change um individuals haven't been able to alter or have not had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century approximately there is a lot to keep track of and this technique does position numerous challenges um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this boosted ability, I have successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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