Find out more about Papaya Global Gibraltar ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This provides us with a protected and dependable method of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app improves my payroll process, conserving me a substantial amount of time monthly. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Employee Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and work documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business provide competitive advantages plans to international workers despite the variety of workers in the business. The company can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source regional advantages providers in every country, develop local accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work expenses distributed per location, overall work expenses per cycle and much more.
Worldwide, I have demonstrated leadership and tactical competence in guiding large-scale populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for supervising payroll techniques, as pointed out by Mark. My role includes handling and developing external partnerships, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for a lot of influential business on the planet we offer payroll payments and workforce management to all employee types in over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon excellent evening depending upon where you remain in the world it's lovely to satisfy you and thank you quite 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 industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've kind of had a variety of various functions on the service provider side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right 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 kind of let them do that so it 'd be quite intriguing 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 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 drizzling here it's really extremely dreary and I want I was somewhere else at this moment in time all right 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 Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and timely payroll payments is a complex difficulty for companies operating internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, find out how business anticipate payroll expenses to optimize working capital, and discover how improving global payroll payments can transform them from a challenging task into a strategic property.
Handling payroll worldwide is a challenging job due to different policies, compliance requirements, data security issues, and banking rules. The sheer number of staff members and services contributes to the intricacy, with an estimated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems typically result in manual processes, data silos, and an absence of combination, leading to disparities and ineffectiveness. Regardless of residing in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to supply insights and options to streamline 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 Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a company invests in international payroll the less of a picture they see an absence of visibility also reaches payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of global businesses have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors improperly interacted hires and terminations as well as lack management and system setups and then when you round it all off and the information is shipped to the wrong location the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they depend on the needed several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles company face when they're making payments to staff members or otherwise that's an excellent concern I always throw this back and say what is it what doesn't need to be included right 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 time frames 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 customer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is absolutely important but all over you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to type of progress with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely necessary that payroll and financing groups work more detailed together than ever um I'm always amazed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide 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 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 but also paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on wellness and the settlement landscape is ending up being significantly elaborate. Companies are constantly presenting new advantages and payment alternatives, which adds to the total complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and traffic jams. In my opinion, this does not need to be the case. In today's highly innovative era, there's no validation for maintaining troublesome treatments. Payroll, the company's greatest cost, should be processed correctly and on time. Even minor delays can adversely impact staff members' well-being and have significant consequences. For that reason, it's critical to focus on accurate and timely payments.
payroll group get um so I'm unsure anyone on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an essential cycle we all find out about it when it goes wrong 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 view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment option is an excellent initial step um supplying an end-to-end payroll solution for your staff members internationally once again I believe is another big um process again aligning and ensuring you have standardization International processes all of those things are definitely crucial to success success of businesses and decreasing the number of tools platforms and savings 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 don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyway we understand how how important a role 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 everyone that's involved in those processes and also so picture sorry I'm simply I was just gon na state think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting task trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and really see what was going on and kind of try to return to everyone so moving on look why do business select to main different checking account there are companies out there doing precisely this for particular countries and I've operated in a business or numerous services doing exactly that I can state it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not producing additional work for any person where we do not have to and anyone that's dealing with that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe many reasons one is it's the standard I believe people have got so utilized to we require a brand-new savings account we open an entity and appropriately so you require 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 standard and the norm the people have adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I believe this is a process that requires taking a look at it needs changing but ultimately individuals are extremely stuck with what they recognize
with right um change is a tough thing we all don't like change um so I think it's simply 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 comprehend undoubtedly the benefits of having maintaining several bank accounts but there's a big amount of complexity goes with establishing a checking account maintaining it ensuring it can send International transfers ensuring it's established with the best user accesses for specific individuals so the intricacy is big however I think the sincere answer is modification um individuals have not had the ability to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century or two there is a lot to keep an eye on and this technique does present several obstacles um so Johnny could you tell us about those challenges yeah of course so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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