Find out more about Papaya Global Cfo ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to handling payments. This offers us with a safe and secure and reliable approach of paying to our 10,000 employees worldwide.}
The innovative worldwide payroll management app simplifies my payroll process, conserving me a considerable quantity of time monthly. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Worker Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive advantages plans to international employees no matter the number of staff members in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every country, develop regional accounts and have a minimum number of employees.
The HR abilities supplied by International HR encompass various functions such as keeping an eye on trip time, guaranteeing compliance, assisting in the procedure of inviting new staff members and bidding goodbye to leaving ones, providing a safe and secure online platform for storing workers' documents, and offering assistance for work allow procedures in case your workers require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall work expenses dispersed per area, overall work costs per cycle and far more.
Globally, I have shown leadership and tactical knowledge in directing large-scale populations of over 100,000 employees across 170 countries. Presently, I are accountable for managing payroll methods, as discussed by Mark. My role involves handling and developing external partnerships, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
business to make the time 100 list for many prominent business on the planet we supply payroll payments and labor force management to all staff member types in over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon great evening depending on where you are in the world it's lovely to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and specifically working on the payroll and payment sector for over seven years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually type of had a range of various functions on the service provider side and also on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give 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 interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone 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 extremely really bleak and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business keep different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical possession uh we'll also discuss a wrap-up which needs to leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more common and managing them ends up being more and more complex Global companies are wanting to discover Solutions and brand-new ways to simplify procedures particularly from a payroll and cross-border payment standpoint lots of companies maintain different savings account just for payroll while some have multiple accounts in various countries does it make sense for companies to keep different savings account sometimes in various countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational companies simplify the episode complex processes of
Ensuring precise, effective, and prompt payroll payments is a complex difficulty for services operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, find out how companies forecast payroll expenses to enhance working capital, and discover how simplifying international payroll payments can change them from a burdensome task into a strategic asset.
Managing payroll globally is a difficult task due to various guidelines, compliance requirements, information security concerns, and banking rules. The large variety of employees and companies adds to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems frequently result in manual procedures, data silos, and an absence of integration, resulting in disparities and inadequacies. Regardless of living in a period of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to supply insights and options to streamline and optimize international payroll payments.
about it to give 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 provides me sleep deprived nights and quite honestly the more a service spends on global payroll the less of an image they see a lack of exposure also encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of global services have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes improperly communicated hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the incorrect location the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they depend on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they're making payments to staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't require to be consisted of ideal and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 client's own in-country account so there's intricacy any place you look right eventually developing a knowledge base is absolutely critical but all over you look with payroll payment they are like incredibly payments no if but some infants 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 absolutely fundamental and innovation is enabling us to kind of move forward with that it also too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely vital that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation 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 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 any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on wellness and the settlement landscape is ending up being progressively elaborate. Organizations are constantly presenting new benefits and payment alternatives, which contributes to the overall complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can lead to inefficiencies and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technologically sophisticated era, there's no justification for keeping cumbersome procedures. Payroll, the company's biggest cost, must be processed correctly and on time. Even small hold-ups can adversely impact workers' well-being and have significant repercussions. For that reason, it's vital to focus on accurate and timely payments.
payroll team get um so I'm unsure anyone on this sort of webinar has actually 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 employees or not um however ultimately payroll is such a crucial cycle we all find out 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 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 definitely essential that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment service is a terrific primary step um supplying an end-to-end payroll service for your workers worldwide once again I think is another big um process again lining up and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of services and lowering the variety of tools platforms and bank accounts they need for their International 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 had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyway we know how how essential 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 easy as possible for everyone that's associated with those procedures and likewise so imagine sorry I'm just I was just gon na state imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions think of getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task 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 require days of the week to try to browse them and in fact see what was going on and type of shot to return to everybody so moving on appearance why do business choose to primary different savings account there are organizations out there doing exactly this for specific nations and I have actually worked in an organization or lots of businesses doing exactly that I can state it does not always feel effective and it does develop more work I understand we're not intentionally doing that we're not creating additional work for anybody where we do not need to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the standard I believe people have got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I believe this is a process that requires taking a look at it requires changing however eventually people are really stuck with what they recognize
with ideal um modification is a hard thing all of us don't like modification um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having maintaining several bank accounts but there's a huge quantity of intricacy opts for establishing a checking account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for individual individuals so the complexity is big but I think the sincere response is change um individuals haven't been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter but we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to monitor and this technique does posture several obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I simply did you switched our Business 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 are worthy of a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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