Find out more about Papaya Global Austin Tx ... 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 acquired a different Chief Financial Officer particularly devoted to managing payments. This provides us with a secure and dependable approach of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
Worker Website
Workers have access to an Employee Portal where they can view their pay slips, wage and tax statements and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive advantages plans to worldwide staff members regardless of the number of staff members in the company. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits providers in every country, develop regional accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, overall employment costs distributed per location, total work expenses per cycle and a lot more.
Globally, I have demonstrated management and strategic competence in directing large-scale populations of over 100,000 workers across 170 nations. Presently, I am responsible for managing payroll methods, as pointed out by Mark. My function includes managing and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. 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 actually focused on payroll and payment solutions for the past seven years. The complexities and challenges 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 six years where I have actually type of had a variety of various roles on the provider side and likewise on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everybody another couple of uh well one of 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 quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody comes from and I truly 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 extremely really bleak and I wish I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya Global payroll payments as a tactical property uh we'll likewise discuss a wrap-up and that should leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of typical and managing them ends up being more and more intricate International organizations are aiming to find Solutions and brand-new ways to streamline processes specifically from a payroll and cross-border payment viewpoint lots of organizations preserve separate bank account just for payroll while some have numerous accounts in various nations does it make good sense for business to maintain separate savings account in some cases in various countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international business improve the episode complex procedures of
Making sure accurate, efficient, and timely payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, find out how business forecast payroll expenses to enhance working capital, and discover how streamlining international payroll payments can change them from a troublesome job into a strategic possession.
Managing payroll internationally is a challenging job due to various regulations, compliance requirements, data security concerns, and banking rules. The sheer number of employees and services adds to the complexity, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often lead to manual processes, data silos, and a lack of integration, causing disparities and ineffectiveness. Despite residing in a period of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to supply insights and options to streamline and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that offers me sleepless nights and quite frankly the more a service invests in worldwide payroll the less of an image they see a lack of visibility also reaches payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of international companies have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes poorly interacted hires and terminations in addition to absence management and system configurations and then when you round all of it off and the information is delivered to the wrong place the average 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 around the world payroll and payments do not run smoothly if they rely on the essential numerous 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 challenges service face when they're paying to staff members or otherwise that's a great concern I constantly toss this back and state what is it what does not need to be consisted of ideal and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 have to pay from the consumer's own in-country account so there's intricacy any place you look ideal eventually constructing a knowledge base is absolutely important but all over 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 sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to type of progress with that it likewise also to add to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and financing teams work better together than ever um I'm constantly amazed when people say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they split 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 data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on well-being and the payment landscape is becoming progressively elaborate. Companies are continuously introducing brand-new benefits and payment choices, which contributes to the overall complexity. Large corporations often divide their payroll and payment processing into different groups, which can cause inefficiencies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's highly advanced age, there's no validation for keeping troublesome procedures. Payroll, the company's most significant expenditure, need to be processed correctly and on time. Even slight delays can negatively impact employees' wellness and have far-reaching effects. Therefore, it's vital to focus on accurate and timely payments.
payroll group get um so I'm uncertain anybody on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle we all hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment option is a terrific primary step um supplying an end-to-end payroll option for your staff members worldwide again I believe is another big um process again lining up and ensuring you have standardization International procedures all of those things are definitely crucial to success success of companies and minimizing the variety of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten 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 really doing that for for the thanks
anyway we know how how important a function 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 everybody that's associated with those procedures and also so think of sorry I'm simply I was just gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions picture getting that numerous 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 definitely be a fascinating job attempting to clean all those up for sure oh absolutely 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 browse them and really see what was going on and type of shot to get back to everyone so proceeding look why do business pick to main separate savings account there are services out there doing exactly this for specific nations and I've operated in a service or lots of companies doing precisely that I can state it doesn't constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not producing extra work for any person where we don't need to and any person that's dealing with 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 quantity that we are I believe numerous factors one is it's the requirement I believe individuals have actually got so used to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and many other methods um to to type of do it so I think there's a variety I think this is a procedure that needs looking at it needs altering but ultimately individuals are really stuck to what they're familiar
with ideal um modification is a difficult thing we all don't like change um so I think it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having maintaining numerous bank accounts however there's a big quantity of intricacy opts for establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for specific individuals so the complexity is big however I believe the honest response is modification um individuals haven't been able to alter or have not had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might almost be identified to be the next Century or two there is a lot to track and this approach does pose several obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I just did you switched our Enterprise 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 employees you deserve a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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