Find out more about Papaya Global Cupport ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to handling payments. This provides us with a secure and dependable technique of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
Employee Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive benefits packages to international staff members despite the number of employees in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages service providers in every country, create regional accounts and have a minimum number of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, overall work expenses dispersed per area, total employment costs per cycle and much more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across business handling and building external relationships supporting Enterprise customers and solutions in addition to acting as a consultant for those of you that do not understand who papaya International is papaya is the very 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 labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's an enjoyment to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of different roles on the company side and likewise on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it remains 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 very really gloomy and I wish I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies keep separate
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly useful for global companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also provide a wrap-up of the bottom lines 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 businesses running internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, find out how business anticipate payroll costs to enhance working capital, and find how streamlining international payroll payments can change them from a challenging task into a strategic asset.
Handling payroll worldwide is a difficult task due to numerous policies, compliance requirements, information security issues, and banking guidelines. The sheer variety of workers and companies contributes to the intricacy, with an estimated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems often result in manual procedures, information silos, and an absence of integration, leading to disparities and inadequacies. Regardless of residing in an era of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to provide insights and services to simplify and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization spends on international payroll the less of a photo they see a lack of visibility likewise extends to payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal almost half of global services have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors inadequately communicated hires and terminations in addition to lack management and system setups and after that when you round it all off and the data is shipped to the incorrect location the typical cost of an international data 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 do not run smoothly if they count on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're making payments to workers or otherwise that's an excellent concern I always throw this back and state what is it what doesn't require to be consisted of best and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 intricacy any place you look ideal ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and innovation is enabling us to type of move on with that it also as well to add to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and finance groups work closer together than ever um I'm always impressed when individuals say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on well-being and the payment landscape is becoming increasingly detailed. Organizations are continuously presenting brand-new advantages and payment alternatives, which adds to the general intricacy. Big corporations often divide their payroll and payment processing into separate teams, which can result in inadequacies and bottlenecks. In my viewpoint, this doesn't need to hold true. In today's highly sophisticated age, there's no reason for preserving troublesome procedures. Payroll, the company's biggest expense, need to be processed properly and on time. Even minor hold-ups can adversely affect workers' well-being and have far-reaching effects. 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 correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle all of us hear about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment option is a great primary step um providing an end-to-end payroll solution for your staff members worldwide again I think is another huge um procedure again aligning and ensuring you have standardization Global procedures all of those things are definitely crucial to success success of businesses and minimizing the variety of tools platforms and checking account they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I do not 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 also so think of sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting 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 require days of the week to attempt to look through them and really see what was going on and sort of shot to return to everyone so proceeding look why do business select to primary separate bank accounts there are companies out there doing exactly this for particular nations and I have actually operated in an organization or many organizations doing exactly that I can state it doesn't constantly feel efficient and it does create more work I understand we're not intentionally doing that we're not creating extra work for anyone where we don't have to and any person that's handling that process 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 many reasons one is it's the requirement I think individuals have actually got so used to we require a new checking account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a procedure that needs taking a look at it requires altering but eventually individuals are extremely stuck to what they recognize
with ideal um modification is a hard thing we all do not like modification um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having keeping several savings account however there's a huge amount of complexity opts for establishing a checking account maintaining it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for specific individuals so the intricacy is huge however I think the sincere answer is change um people have not been able to change or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century approximately there is a lot to monitor and this approach does pose a number of obstacles um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you are worthy of a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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