Find out more about Papaya Global Courses Dublin ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a secure and trusted technique of making payments to our 10,000 workers worldwide.}
The innovative global payroll management app simplifies my payroll process, conserving me a substantial quantity of time monthly. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Employee Portal provides staff members with the capability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to worldwide workers regardless of the variety of employees in the company. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local advantages providers in every country, create regional accounts and have a minimum number of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, total employment expenses distributed per location, overall employment expenses per cycle and far more.
environments across the globe I supplied leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work across the business handling and structure external relationships supporting Enterprise clients and options along with serving as an advisor for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment services for the past seven years. The complexities and obstacles of this field have always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of various functions on the company side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely uninspiring and I want I was somewhere else at this moment in time alright 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 preserve separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is especially beneficial for international organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most notably policies compliance information security and banking rules then there are the large numbers they include further intricacy the worldwide Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the traditional payroll model there's typically an overwhelming variety of different systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in big quantities and or extremely very standard there's no genuine consistency structure we're residing in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a company spends on international payroll the less of an image they see a lack of presence also extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of international services have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is shipped to the wrong place the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they rely on the required multiple processes 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 obstacles business face when they're paying to workers or otherwise that's a good question I always throw this back and say what is it what doesn't require to be consisted of right and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 customer's own in-country account so there's complexity wherever you look ideal eventually developing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you 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 fundamental and technology is permitting us to sort of move forward with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely necessary that payroll and financing groups work better together than ever um I'm constantly surprised when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from calculation 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 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 modern-day world positions a high value on wellness and the payment landscape is becoming progressively intricate. Organizations are constantly introducing brand-new advantages and payment options, which adds to the overall complexity. Large corporations often divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technically innovative era, there's no validation for keeping cumbersome procedures. Payroll, the company's greatest expenditure, should be processed correctly and on time. Even small delays can adversely affect employees' wellness and have far-reaching repercussions. For that reason, it's crucial to focus on accurate and timely payments.
payroll team get um so I'm not sure anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important 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 just a tick box exercise 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 important that all of this things is done properly so leveraging the first International Payments very first payroll payment option is an excellent first step um providing an end-to-end payroll option for your employees worldwide again I believe is another huge um process again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely essential to success success of organizations and lowering the variety of tools platforms and bank accounts they need for their Worldwide 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've never ever had a hundred thousand of them within a payroll cycle do not anticipate 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 quite where they're meant to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we know how how crucial a role 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 simple as possible for everybody that's associated with those procedures and likewise so think of sorry I'm just I was simply gon na state envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and really see what was going on and sort of shot to return to everyone so carrying on look why do companies choose to primary different bank accounts there are services out there doing exactly this for particular nations and I've worked in a business or lots of businesses doing precisely that I can state it doesn't constantly feel effective and it does produce more work I know we're not purposely doing that we're not creating additional work for any person where we don't need to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of factors one is it's the requirement I think individuals have got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll functions however 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 adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I believe this is a procedure that needs looking at it needs changing but ultimately individuals are very stuck to what they recognize
with right um modification is a challenging thing all of us do not like change um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having keeping multiple checking account but there's a big amount of complexity opts for setting up a checking account preserving it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for private individuals so the complexity is huge however I believe the honest response is change um individuals haven't been able to change or have not had always the knowledge to really make that change into alternate Solutions aside from 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 a component of resistance to change but 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 understand what might practically be identified to be the next Century or so there is a lot to keep an eye on and this method does pose several challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I simply did you switched 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 Global staff members you are worthy of a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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