Find out more about Papaya Global Hr 40M 45M ... 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 acquired a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and reputable approach of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app improves my payroll procedure, conserving me a significant amount of time monthly. With its easy to use interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Staff member Portal supplies employees with the ability to access and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies provide competitive benefits plans to worldwide workers regardless of the number of workers in the company. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source regional advantages companies in every country, develop local accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work expenses distributed per area, total work costs per cycle and much more.
Globally, I have shown management and tactical competence in guiding massive populations of over 100,000 workers across 170 nations. Currently, I are accountable for overseeing payroll techniques, as discussed by Mark. My function involves managing and establishing external collaborations, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for the majority of influential business on the planet we provide payroll payments and labor force management to all worker key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good night depending upon where you are in the world it's charming to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually kind of had a variety of various roles on the supplier side and also on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it remains 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 really extremely uninspiring and I want I was elsewhere at this moment in time fine so let's get going 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 business keep different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic asset uh we'll likewise review a wrap-up which needs to leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of typical and managing them ends up being more and more complicated Worldwide companies are aiming to discover Solutions and new ways to enhance processes specifically from a payroll and cross-border payment standpoint lots of companies keep separate checking account just for payroll while some have several accounts in various nations does it make good sense for companies to keep different checking account in some cases in different countries it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies simplify the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for services operating internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to enhance working capital, and discover how improving worldwide payroll payments can transform them from a difficult task into a tactical possession.
Handling payroll internationally is a complicated task due to different policies, compliance requirements, data security concerns, and banking guidelines. The large variety of employees and organizations adds to the complexity, with an estimated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems frequently result in manual processes, information silos, and an absence of combination, leading to inconsistencies and inadequacies. Despite living in an age of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to supply insights and services to simplify 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 businesses say they have Workforce information in real time that's another number that offers me sleepless nights and quite frankly the more a business invests in worldwide payroll the less of an image they see a lack of exposure also extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of international organizations have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors improperly communicated hires and terminations in addition to lack management and system setups and then when you round it all off and the data is shipped to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they rely on the needed multiple 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 organization face when they're making payments to staff members or otherwise that's a great concern I constantly throw this back and say what is it what does not need to be included right and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is definitely important but all over you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 basic and innovation is allowing us to sort of move forward with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely essential that payroll and finance groups work more detailed together than ever um I'm always impressed when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession 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 often 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 anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to add to type of the level of complexity there's increasingly more benefits being organ or being used by companies throughout the world so once again you're simply aiming to include more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real challenges or real difficult kind of pay uses to play to pay people I believe yeah I mean over the last well yeah a couple of decades I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding details into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we require to create additional handoffs in the processes that we run in they simply make them more timely they make them less efficient and they do not make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason we are still making this as hard as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any company has from an expense point of view from an impact point of view on staff members it is definitely critical that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive impact on individuals's wellness and lots of other factors if people aren't paid uh I have actually constantly been impressed entering this Market sort of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anyone on this type 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 workers or not um however eventually payroll is such a crucial cycle we all become aware of it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise 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 stuff is definitely important that all of this things is done properly so leveraging the very first International Payments very first payroll payment option is a terrific first step um supplying an end-to-end payroll service for your staff members internationally once again I believe is another big um procedure again lining up and ensuring you have standardization Global procedures all of those things are definitely key to success success of organizations and reducing the number of tools platforms and savings account they need for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how important 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 also so envision sorry I'm just I was just gon na say envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions picture getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job 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 was the case um you 'd need days of the week to attempt to check out them and really see what was going on and kind of try to return to everyone so moving on appearance why do business pick to primary separate bank accounts there are services out there doing exactly this for specific nations and I've operated in a business or many companies doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating extra work for anybody where we do not have to and anybody that's handling 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 quantity that we are I think numerous reasons one is it's the requirement I believe people have actually got so used to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I think this is a process that requires looking at it requires changing but eventually individuals are really stuck to what they're familiar
with best um change is a tough thing we all don't like change um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having preserving numerous bank accounts but there's a substantial quantity of complexity chooses setting up a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is big however I think the truthful response is modification um people haven't had the ability to alter or have not had always the knowledge to really 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 an element of resistance to change however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century approximately there is a lot to keep track of and this technique does position several difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a variety 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 Worldwide employees you should have a corner workplace with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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