Find out more about Papaya Global Kiribati ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and reliable technique of paying to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app simplifies my payroll procedure, conserving me a substantial quantity of time each month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Employee Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment files. The website is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive benefits bundles to global staff members regardless of the variety of employees in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the need to source regional advantages service providers in every country, create regional accounts and have a minimum variety of workers.
The HR abilities supplied by Global HR include various functions such as keeping track of vacation time, making sure compliance, helping with the procedure of inviting brand-new employees and bidding goodbye to departing ones, offering a secure online platform for keeping workers' files, and offering support for work permit treatments in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work costs dispersed per place, overall work costs per cycle and a lot more.
Worldwide, I have actually shown leadership and strategic competence in directing massive populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for supervising payroll strategies, as mentioned by Mark. My role involves managing and developing external partnerships, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We focus on providing payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment services for the past seven years. The complexities and challenges of this field have actually always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of different roles on the provider side and also on the vendor side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everybody 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 sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely gloomy and I want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical possession uh we'll also go over a wrap-up and that ought to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of common and managing them ends up being more and more complex Global organizations are wanting to discover Solutions and new ways to simplify processes especially from a payroll and cross-border payment standpoint numerous companies keep different bank account just for payroll while some have multiple accounts in various nations does it make good sense for companies to keep separate savings account sometimes in various nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets also called virtual wallets play in helping international business streamline the episode complex processes of
Ensuring accurate, efficient, and prompt payroll payments is a complex difficulty for organizations running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, find out how companies anticipate payroll expenses to enhance working capital, and discover how enhancing global payroll payments can transform them from a challenging job into a strategic property.
Handling payroll worldwide is a difficult job due to different regulations, compliance requirements, information security issues, and banking rules. The sheer variety of workers and organizations contributes to the complexity, with an estimated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems often lead to manual processes, data silos, and a lack of combination, resulting in inconsistencies and inefficiencies. In spite of living in an era of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to provide insights and solutions to simplify and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that provides me sleepless nights and quite honestly the more an organization spends on global payroll the less of a photo they see an absence of presence also extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide organizations have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors improperly interacted hires and terminations as well as lack management and system setups and then when you round everything off and the data is shipped to the incorrect location the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they count on the required multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business face when they're making payments to workers or otherwise that's an excellent question I always toss this back and state 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 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 customer's own in-country account so there's complexity any place you look right eventually constructing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble super payments no if however some babies 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 believe there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to sort of move forward with that it also also to add to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely vital that payroll and financing groups work more detailed together than ever um I'm constantly astonished when people say I have actually 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 estimation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high value on well-being and the settlement landscape is becoming significantly complex. Services are constantly presenting new advantages and payment alternatives, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into separate teams, which can cause ineffectiveness and bottlenecks. In my opinion, this does not have to be the case. In today's highly sophisticated age, there's no reason for keeping troublesome procedures. Payroll, the company's most significant expenditure, should be processed correctly and on time. Even minor delays can adversely affect staff members' wellness and have significant repercussions. Therefore, it's important to focus on precise and timely payments.
payroll team get um so I'm unsure anyone on this sort of webinar has been informed thank you for processing my payroll properly 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 eventually payroll is such an important cycle all of us become aware of it when it fails everybody 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 also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment service is a great first step um supplying an end-to-end payroll service for your workers internationally once again I believe is another substantial um process once again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely key to success success of organizations and decreasing the number of tools platforms and bank accounts they need for their Worldwide 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 don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're indicated to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand 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 simple as possible for everyone that's involved in those procedures and also so envision sorry I'm just I was just gon na state imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and kind of try to return to everyone so proceeding appearance why do companies select to primary different savings account there are services out there doing precisely this for particular countries and I have actually worked in a company or many services doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not producing extra work for anybody where we do not have to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the standard I think people have got so utilized to we require a new bank account we open an entity and rightly so you need 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 adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires changing but ultimately people are very stuck with what they're familiar
with best um change is a hard thing we all do not like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having maintaining multiple bank accounts however there's a substantial amount of intricacy chooses establishing a checking account preserving it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for private people so the intricacy is huge however I think the sincere response is change um individuals have not been able to change or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century or two there is a lot to monitor and this technique does present numerous difficulties um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I just 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 staff members you should have a corner workplace with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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