Find out more about Papaya Global For Budget-friendly Compliance And Efficiency ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly committed to handling payments. This provides us with a protected and trustworthy method of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app improves my payroll process, saving me a significant quantity of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Worker Website
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to international workers regardless of the variety of workers in the company. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source regional benefits providers in every country, create local accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, total employment costs dispersed per area, overall work costs per cycle and much more.
Globally, I have actually demonstrated management and tactical knowledge in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for managing payroll methods, as discussed by Mark. My role involves handling and developing external collaborations, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a global business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's an enjoyment to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of various roles on the company side and also on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or so 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 fascinating and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine 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 all right so let's begin our program for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies maintain separate
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is particularly useful for international companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will also supply 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 difficulty for businesses running globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to optimize working capital, and find how streamlining global payroll payments can transform them from a troublesome task into a strategic possession.
Managing payroll globally is a difficult job due to various regulations, compliance requirements, data security issues, and banking rules. The sheer number of employees and services contributes to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual processes, information silos, and a lack of integration, leading to disparities and inefficiencies. In spite of living in a period of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to supply insights and solutions to simplify and optimize global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite frankly the more a business invests in international payroll the less of a picture they see an absence of presence likewise encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of global companies have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors inadequately interacted hires and terminations along with absence management and system setups and after that when you round everything off and the data is shipped to the wrong location the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they depend on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're making payments to staff members or otherwise that's a great concern I constantly throw this back and state what is it what doesn't need to be included best and what does
it require to be thought of 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 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 best eventually building a knowledge base is absolutely important however everywhere you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to kind of move forward with that it also also to add to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance teams work better together than ever um I'm always astonished when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation 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 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 anywhere they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on well-being and the payment landscape is becoming increasingly elaborate. Services are continuously introducing new benefits and payment choices, which contributes to the total complexity. Big corporations often divide their payroll and payment processing into different teams, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't have to be the case. In today's technologically advanced age, there's no reason for keeping troublesome procedures. Payroll, the company's most significant expenditure, should be processed correctly and on time. Even slight delays can negatively impact employees' wellness and have significant consequences. For that reason, it's vital to focus on precise and timely payments.
payroll group get um so I'm unsure anybody on this kind of webinar has actually been informed 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 workers or not um however eventually payroll is such an important cycle all of us hear about it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box workout and I believe 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 things is definitely crucial that all of this things is done properly so leveraging the first Global Payments first payroll payment service is an excellent initial step um providing an end-to-end payroll service for your staff members globally once again I believe is another big um process once again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely essential to success success of organizations and decreasing the variety of tools platforms and savings account they require for their Worldwide payroll too couldn't 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 don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not 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 crucial 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 everybody that's involved in those procedures and likewise so think of sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions imagine getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and kind of try to get back to everybody so carrying on look why do business pick to main separate bank accounts there are services out there doing exactly this for specific countries and I have actually operated in a business or many organizations doing precisely that I can say it does not always feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing additional work for anyone where we do not need to and anyone 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 amount that we are I believe numerous reasons one is it's the standard I believe individuals have got so used to we require a new savings account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires altering however ultimately individuals are really stuck with what they're familiar
with ideal um change is a difficult thing all of us do not like modification um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having keeping numerous savings account however there's a big quantity of intricacy goes with setting up a bank account maintaining it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the complexity is big however I think the sincere response is modification um people haven't been able to alter or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I think 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 have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be determined to be the next Century approximately there is a lot to keep an eye on and this method does posture a number of difficulties um so Johnny might you tell us about those difficulties yeah obviously so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you are worthy of a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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