Find out more about Affordable Hr Streamlining With Papaya Global ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and reliable approach of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
Employee Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive advantages plans to worldwide employees regardless of the number of staff members in the business. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local advantages service providers in every country, produce regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall employment expenses dispersed per area, total employment expenses per cycle and far more.
environments around the world I supplied management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business managing and structure external relationships supporting Business customers and solutions as well as acting as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian discussed, 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 complexities and difficulties of this field have actually always captivated me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've kind of had a variety of different functions on the provider side and likewise on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really very dreary and I want I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies keep different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a tactical possession uh we'll also discuss a wrap-up which should leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more common and handling them becomes more and more complicated Global organizations are seeking to discover Solutions and new ways to streamline procedures especially from a payroll and cross-border payment perspective lots of organizations keep separate bank account just for payroll while some have multiple accounts in various countries does it make sense for companies to maintain separate checking account often in different nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational companies simplify the episode complex procedures of
Making sure precise, effective, and prompt payroll payments is a complex obstacle for companies operating internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, learn how business anticipate payroll expenses to optimize working capital, and discover how streamlining worldwide payroll payments can transform them from a challenging job into a strategic possession.
Handling payroll globally is a complicated task due to different regulations, compliance requirements, information security concerns, and banking rules. The large variety of employees and services contributes to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently lead to manual processes, information silos, and an absence of combination, resulting in disparities and inefficiencies. Regardless of residing in an age of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to offer insights and options to streamline and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a business spends on global payroll the less of a picture they see an absence of visibility also reaches payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide companies have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors badly communicated hires and terminations along with absence management and system setups and after that when you round it all off and the information is delivered to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they rely on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties company face when they're making payments to employees or otherwise that's a good question I always toss this back and state what is it what does not need to be consisted of ideal and what does
it require to be thought of 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 need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity any place you look ideal eventually developing a knowledge base is definitely critical however all over you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to sort of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance groups work more detailed together than ever um I'm constantly surprised when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide 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 any place they are however also paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on well-being and the settlement landscape is becoming progressively intricate. Organizations are continually introducing new benefits and payment options, which adds to the total complexity. Large corporations often divide their payroll and payment processing into separate groups, which can result in inefficiencies and bottlenecks. In my viewpoint, this does not have to be the case. In today's technologically innovative period, there's no justification for preserving troublesome treatments. Payroll, the business's biggest expense, need to be processed correctly and on time. Even slight delays can negatively affect employees' well-being and have far-reaching repercussions. For that reason, it's crucial to focus on accurate and prompt payments.
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just see when things fail. However, when things go right, it's viewed as just a routine job. This is how it's perceived externally also. For that reason, it is important to ensure that tasks like Wi-Fi Global and other essential matters are done correctly. Utilizing the very first Worldwide Payments very first payroll payment service is a terrific initial action towards providing a detailed payroll option for employees worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and checking account required for worldwide payroll are essential factors in accomplishing organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things don't go as planned. Eventually, we don't do it for the thankfulness.
anyhow we understand 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 involved in those processes and also so envision sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions envision getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and kind of try to get back to everyone so proceeding look why do companies choose to primary different savings account there are businesses out there doing precisely this for particular nations and I have actually worked in a business or lots of businesses doing exactly that I can say it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not developing additional work for anyone where we do not need to and anybody that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous factors one is it's the requirement I think individuals have got so used to we need a new checking account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I think this is a process that needs looking at it requires changing however eventually individuals are extremely stuck with what they recognize
with ideal um change is a challenging thing we all don't like change um so I think it's just kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having keeping numerous savings account but there's a big amount of complexity chooses establishing a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is huge however I think the truthful answer is modification um individuals haven't had the ability to change or have not had always the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century or two there is a lot to keep an eye on and this method does present a number of difficulties um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I just recently made a modification to our Enterprise 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 enhanced ability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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