Find out more about Papaya Global Hr Software For Efficiency ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly committed to handling payments. This offers us with a secure and trustworthy technique of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, saving me a substantial amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Employee Portal
Employees have access to a Worker Website where they can see their pay slips, wage and tax statements and employment files. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to international staff members no matter the number of staff members in the business. The business can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source local advantages companies in every country, develop local accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment expenses dispersed per place, total employment costs per cycle and far more.
Internationally, I have shown management and tactical know-how in directing large-scale populations of over 100,000 employees across 170 nations. Currently, I am responsible for managing payroll methods, as mentioned by Mark. My role involves managing and developing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on providing payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The complexities and difficulties of this field have actually always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I've type of had a range of various functions on the company side and likewise on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or two 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 already simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I actually 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 very extremely gloomy and I want I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll also discuss a wrap-up which must leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of common and handling them becomes more and more intricate Global companies are seeking to find Solutions and new ways to streamline procedures specifically from a payroll and cross-border payment viewpoint many companies keep different bank account just for payroll while some have numerous accounts in various nations does it make sense for companies to preserve separate bank accounts in some cases in different countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies enhance the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for companies running internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to enhance working capital, and find how streamlining international payroll payments can transform them from a troublesome job into a tactical property.
Handling payroll globally is a difficult job due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The sheer variety of employees and organizations adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often result in manual processes, information silos, and an absence of combination, leading to inconsistencies and ineffectiveness. Regardless of living in an era of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to provide insights and services to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state 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 a picture they see a lack of visibility also encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of international companies have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes poorly interacted hires and terminations as well as absence management and system setups and after that when you round it all off and the information is shipped to the incorrect location the average expense of a worldwide data 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 don't run efficiently if they depend 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 requires to be factored into the obstacles company face when they're making payments to staff members or otherwise that's a good concern I constantly toss this back and say what is it what doesn't need to be consisted of best 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 nation there's payment timespan there's payment abilities 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 consumer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is definitely important however everywhere you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type 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 basic and technology is allowing us to sort of move forward with that it also also to contribute to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm constantly impressed when people 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 split the payroll payment from calculation 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 information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to add to kind of the level of intricacy there's increasingly more advantages being organ or being used by services across the world so once again you're just aiming to include more and more payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine obstacles or genuine tough sort of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of years I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding details into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to develop extra handoffs in the processes that we operate in they just make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and a period that you understand that we are operating in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from a cost point of view from an impact viewpoint on employees it is absolutely vital that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful result on individuals's well-being and lots of other factors if people aren't paid uh I've always been impressed entering this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this type of webinar has 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 employees or not um but eventually payroll is such a crucial cycle all of us find out about 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 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 things is definitely vital that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment option is a fantastic initial step um offering an end-to-end payroll solution for your employees internationally again I believe is another substantial um procedure once again aligning and ensuring you have standardization International processes all of those things are definitely essential to success success of organizations and reducing the variety of tools platforms and checking 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 have actually never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 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 really doing that for for the thanks
anyhow we know 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 easy as possible for everyone that's involved in those processes and likewise so imagine sorry I'm simply I was just gon na say envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and in fact see what was going on and sort of try to return to everyone so proceeding appearance why do business choose to primary separate checking account there are companies out there doing exactly this for particular nations and I have actually worked in an organization or lots of businesses doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not developing additional work for any person where we do not need to and anybody that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think many factors one is it's the standard I believe individuals have actually got so used to we require a brand-new checking account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think 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 individuals have actually looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I believe this is a procedure that requires taking a look at it requires changing but eventually individuals are very stuck with what they're familiar
with ideal um modification is a challenging thing we all do not like modification um so I think it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having maintaining several savings account however there's a big amount of complexity chooses setting up a checking account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual people so the complexity is huge however I believe the truthful response is modification um people have not had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change however we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century or two there is a lot to track and this technique does present several challenges um so Johnny could you inform us about those challenges 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 International workers you should have 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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