Find out more about Papaya Global Company ... 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 gotten a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a safe and secure and reputable approach of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app simplifies my payroll process, conserving me a substantial amount of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Staff member Portal offers staff members with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global helps business use competitive benefits packages to global staff members despite the variety of employees in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional benefits providers in every nation, create regional accounts and have a minimum variety of employees.
The HR capabilities offered by Global HR encompass various functions such as keeping track of holiday time, guaranteeing compliance, helping with the procedure of welcoming new workers and bidding goodbye to leaving ones, providing a safe and secure online platform for saving workers' files, and supplying assistance for work allow treatments in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, overall employment costs dispersed per place, total work expenses per cycle and much more.
Internationally, I have actually demonstrated leadership and strategic know-how in directing massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My role involves managing and establishing external partnerships, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for many prominent companies in the world we offer payroll payments and workforce management to all employee enters over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon great evening depending upon where you remain in the world it's beautiful 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 particularly working on the payroll and payment sector for over 7 years um I was amazed by the complexity the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've kind of had a variety of various roles on the supplier side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I truly 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 all right so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why business keep separate
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is especially helpful for worldwide companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different savings account for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, find out how companies forecast payroll costs to optimize working capital, and discover how simplifying worldwide payroll payments can change them from a burdensome task into a tactical asset.
Handling payroll globally is a challenging task due to various policies, compliance requirements, data security issues, and banking guidelines. The sheer variety of workers and organizations adds to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently result in manual procedures, information silos, and an absence of integration, resulting in disparities and inadequacies. In spite of residing in an era of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to offer insights and services to simplify and enhance 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 Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a business spends on worldwide payroll the less of an image they see an absence of presence also extends to payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal almost half of global companies have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors badly interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the data is delivered to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they rely on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're paying to staff members or otherwise that's a great question I constantly throw this back and say what is it what doesn't require to be included ideal and what does
it require to be considered there's differing Bank details 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 wherever you look ideal eventually developing a knowledge base is absolutely crucial but all over you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind 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 essential and innovation is permitting us to kind of move on with that it likewise also to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely crucial that payroll and financing groups work closer together than ever um I'm always surprised when individuals state 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 occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on wellness and the settlement landscape is becoming progressively complex. Businesses are continuously presenting new benefits and payment alternatives, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into separate groups, which can cause inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's technically sophisticated age, there's no reason for preserving cumbersome treatments. Payroll, the company's greatest expense, need to be processed correctly and on time. Even small hold-ups can adversely affect employees' well-being and have significant repercussions. Therefore, it's critical to prioritize precise and timely payments.
The payroll team might not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just discover when things fail. However, when things go right, it's seen as just a regular task. This is how it's viewed externally as well. For that reason, it is vital to ensure that tasks like Wi-Fi International and other essential matters are done properly. Using the very first Global Payments very first payroll payment option is a great preliminary action towards supplying a comprehensive payroll solution for staff members worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and checking account needed for worldwide payroll are crucial factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive 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 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 everyone that's involved in those processes and likewise so think of sorry I'm just I was just 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'm sure we're talking about numerous thousands possibly Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task trying to clean up 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 really see what was going on and kind of try to return to everybody so carrying on appearance why do business select to main separate savings account there are organizations out there doing precisely this for specific countries and I have actually worked in a business or numerous businesses doing precisely that I can say it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not creating additional work for anyone where we don't need to and any person that's managing that procedure 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 believe lots of reasons one is it's the requirement I believe people have actually got so utilized to we require a new bank account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have actually adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other methods um to to sort of do it so I think there's a range I think this is a process that requires taking a look at it needs altering however eventually individuals are extremely stuck with what they recognize
with best um change is a challenging thing all of us do not like modification um so I believe it's just type of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having keeping several bank accounts but there's a substantial amount of intricacy chooses establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is huge however I believe the sincere response is modification um individuals haven't had the ability to alter or have not had always the understanding to actually make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I think it is knowledge 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 advantages and the possibilities of carrying on and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to monitor and this technique does position a number of challenges um so Johnny could you inform us about those challenges yeah of course so there's a range right there is so
I just 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 staff members you are worthy of a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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