Find out more about Papaya Global Israel Address ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and dependable method of making payments to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll procedure, 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 professionals.
The Staff member Portal offers workers with the ability to access and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits bundles to international employees regardless of the number of employees in the company. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every country, develop local accounts and have a minimum variety of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, total work costs dispersed per area, total employment expenses per cycle and much more.
Internationally, I have actually demonstrated management and strategic knowledge in guiding massive populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for supervising payroll methods, as mentioned by Mark. My function involves handling and developing external collaborations, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for many prominent companies on the planet we supply payroll payments and labor force management to all employee enters over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon good evening depending on where you are in the world it's charming to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually kind of had a range of different roles on the service provider side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very very gloomy and I want I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic asset uh we'll also review a wrap-up and that needs to leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more typical and managing them becomes increasingly more complex Global organizations are looking to discover Solutions and brand-new methods to improve procedures especially from a payroll and cross-border payment viewpoint many organizations preserve different savings account just for payroll while some have several accounts in various countries does it make sense for companies to preserve separate savings account in some cases in various countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping international business simplify the episode complex processes of
Ensuring precise, effective, and prompt payroll payments is a complex obstacle for companies operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, find out how business anticipate payroll expenses to enhance working capital, and find how simplifying worldwide payroll payments can change them from a troublesome job into a tactical asset.
Managing payroll worldwide is a daunting task due to different policies, compliance requirements, information security concerns, and banking rules. The sheer variety of employees and services contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and an absence of integration, causing inconsistencies and inefficiencies. Regardless of living in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to provide insights and services 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 businesses state they have Labor force data in real time that's another number that provides me sleepless nights and quite frankly the more a company invests in global payroll the less of a photo they see an absence of visibility also extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of global services have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes improperly communicated hires and terminations as well as lack management and system configurations and then when you round it all off and the information is delivered to the incorrect location the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they count on the needed 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 challenges service face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what does not require to be consisted of best and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation 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 need to pay from the consumer's own in-country account so there's complexity any place you look ideal eventually developing a knowledge base is absolutely vital however all over you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort 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 fundamental and technology is enabling us to type of move forward with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely necessary that payroll and finance groups work better together than ever um I'm constantly astonished when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more essential to add to type of the level of intricacy there's more and more advantages being organ or being used by businesses across the world so again you're just wanting to include increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real obstacles or real tough kind of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of years I would certainly state that the larger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding info into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we require to create additional handoffs in the processes that we operate in they just 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 era that you understand that we are working in today there is no reason that we are still making this as difficult as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any service has from a cost point of view from an impact point of view on workers it is definitely crucial 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 biggest destructive result on individuals's well-being and many other factors if individuals aren't paid uh I've always been amazed coming into this Market sort of the last 5 to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only notice when things go wrong. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's viewed externally also. Therefore, it is vital to guarantee that jobs like Wi-Fi Worldwide and other important matters are done properly. Using the first Global Payments very first payroll payment option is a fantastic preliminary step towards supplying a thorough payroll option for staff members worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and savings account needed for global payroll are essential factors in achieving organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things don't go as planned. Eventually, we don't do it for the gratitude.
anyhow we know how how essential 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 simple as possible for everybody that's associated with those processes and also so think of sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and in fact see what was going on and type of try to return to everyone so proceeding appearance why do companies choose to primary separate checking account there are companies out there doing exactly this for specific countries and I have actually worked in a business or many companies doing precisely that I can say it doesn't always feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing additional work for anybody where we don't need to and any person that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the requirement I believe individuals have got so utilized to we require a brand-new checking account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I think this is a process that requires taking a look at it needs altering however ultimately individuals are extremely stuck with what they're familiar
with ideal um change is a hard thing we all do not like modification um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having maintaining multiple savings account but there's a substantial quantity of intricacy chooses setting up a checking account preserving it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the complexity is substantial however I think the honest answer is modification um individuals have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could practically be determined to be the next Century or two there is a lot to track and this approach does pose a number of difficulties um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I simply did you changed our Enterprise 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 employees you are worthy of a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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