Find out more about Chose Papaya Global ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and trustworthy method of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Employee Portal supplies staff members with the ability to access and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to worldwide workers despite the number of employees in the company. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source local benefits service providers in every country, create local accounts and have a minimum variety of workers.
The HR capabilities provided by Global HR incorporate different functions such as keeping track of trip time, guaranteeing compliance, facilitating the process of welcoming brand-new workers and bidding farewell to departing ones, providing a safe online platform for keeping workers' documents, and offering support for work permit treatments in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, total work expenses distributed per place, total work expenses per cycle and far more.
Worldwide, I have actually demonstrated management and strategic knowledge in assisting massive populations of over 100,000 staff members across 170 countries. Currently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function includes managing and establishing external partnerships, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
company to make the time 100 list for many prominent companies in the world we offer payroll payments and labor force management to all worker key ins over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon great evening depending upon where you remain in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of different roles on the company side and likewise on the supplier side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely very dreary and I want I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies keep different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical possession uh we'll likewise review a recap which should leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more common and managing them ends up being increasingly more complicated Global companies are looking to discover Solutions and new ways to streamline processes particularly from a payroll and cross-border payment perspective many organizations keep different bank account just for payroll while some have numerous accounts in various nations does it make good sense for business to keep separate savings account in some cases in different countries it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies improve the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex difficulty for organizations operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll costs to optimize working capital, and discover how enhancing international payroll payments can transform them from a challenging task into a tactical possession.
Handling payroll globally is an overwhelming job due to different guidelines, compliance requirements, data security concerns, and banking rules. The sheer variety of employees and organizations adds to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems often lead to manual processes, information silos, and an absence of combination, leading to disparities and inadequacies. Despite residing in an era of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to provide insights and solutions to simplify and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite frankly the more a company invests in worldwide payroll the less of an image they see an absence of presence likewise encompasses payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of international services have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors badly communicated hires and terminations along with lack management and system configurations and then when you round everything off and the information is shipped to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they rely on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're making payments to employees or otherwise that's a great question I always toss this back and say what is it what doesn't require to be included right and what does
it need to be thought of there's varying 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 abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity wherever you look right ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is permitting us to type of move forward with that it also too to add to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is absolutely important that payroll and finance groups work closer together than ever um I'm constantly astonished when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession 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 ultimately 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 likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on well-being and the compensation landscape is ending up being progressively intricate. Businesses are continually introducing new benefits and payment choices, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technologically advanced period, there's no validation for maintaining cumbersome procedures. Payroll, the business's most significant expenditure, need to be processed properly and on time. Even small hold-ups can adversely impact workers' wellness and have far-reaching consequences. Therefore, it's vital to prioritize precise and timely payments.
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only discover when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally too. For that reason, it is necessary to ensure that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Using the very first International Payments very first payroll payment service is a terrific initial step towards offering an extensive payroll service for employees worldwide. Standardization, international procedures, and minimizing the number of tools, platforms, and checking account necessary for global payroll are essential consider accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as planned. Eventually, we do not do it for the appreciation.
anyhow we understand how how essential 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 easy as possible for everybody that's involved in those procedures and also so imagine sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task attempting to clean all those up for sure oh definitely I can't think of 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 actually see what was going on and sort of try to get back to everybody so carrying on appearance why do business select to main separate bank accounts there are services out there doing precisely this for particular countries and I have actually worked in an organization or lots of companies doing exactly that I can say it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not producing additional work for anyone where we don't need to and anybody that's handling 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 amount that we are I think lots of factors one is it's the standard I think individuals have actually got so used to we need a new checking account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a process that needs taking a look at it requires changing but eventually people are extremely stuck to what they recognize
with ideal um change is a difficult thing all of us don't like change um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having maintaining several checking account but there's a big quantity of intricacy opts for establishing a bank account preserving it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private individuals so the intricacy is huge but I think the honest response is modification um individuals have not had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change but we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be determined 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 challenges yeah obviously so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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