Find out more about Papaya Global Deel ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and secure and reliable technique of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
The Worker Portal offers employees with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to international employees no matter the variety of staff members in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source regional benefits suppliers in every country, produce regional accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, total employment expenses dispersed per place, total employment expenses per cycle and a lot more.
Internationally, I have shown leadership and strategic know-how in guiding large-scale populations of over 100,000 workers throughout 170 countries. Presently, I am responsible for overseeing payroll methods, as discussed 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 services supplier.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I've kind of had a variety of various roles on the provider side and also on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everyone another couple 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 quite interesting 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 really do hope it's much sunnier than it is 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 very really uninspiring and I wish I was elsewhere at this moment in time all right so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya International payroll payments as a strategic asset uh we'll likewise discuss a recap which should leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more typical and handling them ends up being increasingly more complicated Worldwide companies are aiming to find Solutions and brand-new ways to improve processes especially from a payroll and cross-border payment standpoint many companies maintain separate savings account just for payroll while some have several accounts in different nations does it make good sense for companies to preserve separate savings account in some cases in different nations it does however just for payroll exists a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies improve the episode complex procedures of
Making sure precise, efficient, and timely payroll payments is a complex challenge for services running worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to enhance working capital, and discover how simplifying global payroll payments can transform them from a difficult task into a tactical asset.
Managing payroll internationally is a daunting task due to various regulations, compliance requirements, data security issues, and banking rules. The sheer variety of staff members and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and a lack of combination, resulting in inconsistencies and ineffectiveness. In spite of residing in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to offer insights and solutions to simplify and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization spends on global payroll the less of a picture they see an absence of exposure likewise reaches payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the transaction almost half of global organizations have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors inadequately communicated hires and terminations as well as absence management and system configurations and after that when you round everything off and the information is shipped to the incorrect location the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they count on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're paying to workers or otherwise that's a good question I always throw this back and say what is it what does not need to be consisted of right 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 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 customer's own in-country account so there's intricacy anywhere you look right eventually building a knowledge base is absolutely critical but all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to type of progress with that it also as well to add to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely essential that payroll and finance groups work more detailed together than ever um I'm always amazed when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so often 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 puts a high worth on wellness and the payment landscape is becoming progressively complex. Organizations are continually presenting new advantages and payment options, which adds to the overall intricacy. Large corporations frequently divide their payroll and payment processing into separate groups, which can result in ineffectiveness and traffic jams. In my opinion, this does not need to hold true. In today's highly innovative era, there's no reason for preserving troublesome procedures. Payroll, the company's greatest expenditure, must be processed properly and on time. Even slight hold-ups can adversely affect workers' well-being and have far-reaching effects. For that reason, it's vital to focus on accurate and timely payments.
payroll team get um so I'm uncertain anyone on this type of webinar has actually been told 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 however eventually payroll is such an important cycle we all hear about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment option is an excellent first step um offering an end-to-end payroll option for your employees internationally once again I think is another big um process again aligning and guaranteeing you have standardization International processes all of those things are absolutely crucial to success success of organizations and minimizing the number of tools platforms and checking account they need for their Worldwide 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've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we know how how important a function 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 involved in those procedures and also so envision sorry I'm just I was just gon na state imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions think of getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and in fact see what was going on and sort of try to return to everybody so carrying on look why do companies pick to main different checking account there are services out there doing exactly this for specific nations and I have actually worked in a business or lots of services doing precisely that I can say it does not constantly feel effective and it does create more work I understand we're not purposely doing that we're not producing additional work for any person where we don't have to and anyone that's dealing with that procedure 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 believe numerous reasons one is it's the standard I believe individuals have got so utilized to we require a new checking 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 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 individuals have actually looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that needs looking at it requires altering but ultimately people are extremely stuck to what they recognize
with right um change is a challenging thing all of us do not like modification um so I believe 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 clearly the advantages of having keeping multiple savings account but there's a substantial quantity of complexity opts for establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for private people so the intricacy is huge but I believe the honest response is change um individuals haven't had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be figured out to be the next Century approximately there is a lot to keep track of and this technique does position numerous obstacles um so Johnny might you tell us about those obstacles 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 feels like our CFO has acquired another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your achievements.
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