Find out more about Papaya Global British Virgin Islands ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and trustworthy approach of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Staff member Website offers workers with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Advantages Administration
Papaya Global assists business provide competitive benefits packages to global workers despite the number of workers in the company. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source regional advantages suppliers in every nation, develop regional accounts and have a minimum variety of employees.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total work expenses dispersed per place, total employment costs per cycle and a lot more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and building external relationships supporting Enterprise customers and solutions in addition to functioning as an advisor for those of you that do not know who papaya International is papaya is the very first payroll and payments
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned 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 pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have actually always mesmerized me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of various roles on the supplier side and likewise on the vendor side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or so to join we all 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 already just to hear where everyone 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 sunshine is it it's not no it's it's drizzling here it's extremely very uninspiring and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business preserve separate
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining different checking account for payroll in different countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex challenge for services running worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, find out how business forecast payroll costs to optimize working capital, and find how simplifying worldwide payroll payments can change them from a challenging job into a strategic asset.
Handling payroll worldwide is a challenging job due to various policies, compliance requirements, data security issues, and banking guidelines. The sheer variety of staff members and organizations adds to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and an absence of integration, resulting in disparities and ineffectiveness. Despite living in an era of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to provide insights and solutions to simplify and optimize international payroll payments.
about it to provide 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 rather frankly the more a service spends on international payroll the less of a photo they see a lack of presence likewise extends to payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction almost half of international businesses have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes badly interacted hires and terminations along with lack management and system configurations and after that when you round everything off and the information is shipped 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 don't run efficiently if they count on the needed numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're paying to staff members or otherwise that's a great question I always toss this back and state what is it what does not need to be consisted of right and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 intricacy wherever you look ideal eventually building a knowledge base is absolutely critical however all over you look with payroll payment they resemble incredibly payments no if however some children 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 think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to type of move on with that it likewise as well to add to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely vital that payroll and finance teams work more detailed together than ever um I'm always astonished when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market 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 information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on well-being and the settlement landscape is ending up being increasingly complex. Businesses are constantly introducing new advantages and payment options, which adds to the general intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can result in inadequacies and bottlenecks. In my opinion, this does not need to hold true. In today's technologically sophisticated period, there's no reason for preserving troublesome treatments. Payroll, the company's greatest expenditure, need to be processed properly and on time. Even minor delays can adversely impact staff members' well-being and have significant repercussions. For that reason, it's critical to focus on accurate and timely payments.
payroll group get um so I'm unsure anybody on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle we all become aware of it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely vital that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment option is a great initial step um providing an end-to-end payroll service for your staff members internationally once again I believe is another huge um procedure once again lining up and guaranteeing you have standardization International processes all of those things are absolutely essential to success success of organizations and reducing the number of tools platforms and bank accounts they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyhow 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 easy as possible for everybody that's involved in those processes and also so picture sorry I'm simply I was simply gon na state picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and in fact see what was going on and kind of shot to get back to everyone so carrying on appearance why do business select to primary different savings account there are organizations out there doing exactly this for specific nations and I have actually worked in a business or numerous organizations doing exactly that I can state it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not creating additional work for any person where we do not need to and anyone that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the standard I believe individuals have actually got so used to we require a new bank account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply 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 taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I think this is a process that requires looking at it needs changing however eventually people are extremely stuck to what they're familiar
with right um change is a difficult thing all of us don't like change um so I think it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having keeping numerous savings account however there's a huge amount of complexity goes with setting up a checking account preserving it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for private individuals so the intricacy is substantial however I think the truthful response is change um individuals have not been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to change however we've always done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what might almost be determined to be the next Century or two there is a lot to keep an eye on and this technique does posture several obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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