Find out more about Papaya Global Courses College ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and secure and reliable technique of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app enhances my payroll procedure, conserving me a substantial amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Employee Website offers staff members with the ability to access and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global assists business offer competitive benefits plans to worldwide workers no matter the variety of workers in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, create regional accounts and have a minimum number of workers.
The HR abilities provided by Global HR incorporate numerous functions such as keeping an eye on holiday time, making sure compliance, assisting in the process of welcoming new employees and bidding goodbye to departing ones, using a protected online platform for storing workers' documents, and supplying assistance for work allow procedures in case your employees need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall work expenses dispersed per place, overall employment costs per cycle and a lot more.
Globally, I have demonstrated leadership and tactical know-how in assisting massive populations of over 100,000 employees across 170 countries. Presently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role includes managing and establishing external collaborations, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's an enjoyment to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment services for the past seven years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've kind of had a range of various functions on the supplier side and also on the vendor side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everyone 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 already just to hear where everyone is um it's nice to to type of like see where everybody originates 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 extremely dreary and I wish I was elsewhere at this moment in time alright so let's start 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 different
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of maintaining different savings account 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 talk about why they are becoming a tactical possession for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure precise, effective, and timely payroll payments is a complex difficulty for organizations running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and discover how enhancing worldwide payroll payments can transform them from a challenging job into a strategic asset.
Managing payroll globally is a daunting task due to numerous regulations, compliance requirements, data security issues, and banking guidelines. The large variety of staff members and services contributes to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems often result in manual processes, information silos, and a lack of integration, leading to disparities and ineffectiveness. Despite residing in a period of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to offer insights and solutions to simplify and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a service invests in worldwide payroll the less of a photo they see a lack of presence also encompasses payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide services have actually expressed that they don't 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 bad HCM information information entry mistakes inadequately communicated hires and terminations as well as lack management and system configurations and after that when you round everything off and the data is delivered to the wrong place the typical cost of an international data 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 don't run efficiently if they rely on the necessary several 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 service face when they're making payments to workers or otherwise that's a good concern I constantly toss this back and say what is it what does not need to be consisted of right 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 amount of time 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 customer's own in-country account so there's complexity any place you look best eventually building a knowledge base is absolutely vital but all over you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type 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 kind of move on with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely imperative that payroll and finance teams work closer together than ever um I'm constantly amazed when people state I have actually 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 divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on wellness and the settlement landscape is ending up being increasingly complex. Companies are constantly introducing brand-new advantages and payment options, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and traffic jams. In my opinion, this does not have to be the case. In today's highly advanced era, there's no justification for maintaining cumbersome treatments. Payroll, the business's biggest cost, should be processed properly and on time. Even slight hold-ups can adversely impact staff members' wellness and have far-reaching repercussions. Therefore, it's important to prioritize accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic 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 find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box exercise 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 things is definitely important that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment solution is a great initial step um providing an end-to-end payroll option for your employees internationally once again I believe is another huge um process again lining up and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of companies and minimizing the variety of tools platforms and checking account they need for their Global 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 countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're indicated to be um I don't think any of us are in fact 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 everyone that's involved in those processes and also so picture sorry I'm just I was just gon na state envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and really see what was going on and type of try to return to everyone so proceeding look why do companies choose to main different bank accounts there are organizations out there doing exactly this for specific countries and I have actually worked in a company or numerous businesses doing precisely that I can say it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not producing extra work for any person where we do not 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 amount that we are I think numerous reasons one is it's the standard I think individuals have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and many other ways um to to type of do it so I think there's a variety I believe this is a process that requires looking at it requires altering however eventually people are extremely stuck to what they're familiar
with best um change is a difficult thing we all do not like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having preserving multiple savings account but there's a huge amount of intricacy chooses establishing a checking account keeping it ensuring it can send out International transfers ensuring it's established with the right user accesses for individual individuals so the complexity is big however I believe the sincere answer is change um people haven't been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what might practically be determined to be the next Century or two there is a lot to keep track of and this method does pose numerous challenges um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like 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 office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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