Find out more about Papaya Global Kraków ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a secure and trustworthy method of paying to our 10,000 employees worldwide.}
The innovative global payroll management app enhances my payroll process, saving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Staff member Portal supplies employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Advantages Administration
Papaya Global helps business provide competitive benefits packages to international staff members no matter the number of employees in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every nation, produce regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall employment expenses distributed per area, total employment expenses per cycle and a lot more.
Globally, I have actually shown leadership and tactical know-how in assisting massive populations of over 100,000 staff members throughout 170 nations. Currently, I are accountable for supervising payroll strategies, as discussed by Mark. My function includes handling and developing external partnerships, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
company to make the time 100 list for a lot of prominent companies in the world we supply payroll payments and workforce management to all staff member types in over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon great evening depending upon where you are 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've been in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of different functions on the supplier side and also on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or two to join we all 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 simply to hear where everyone is um it's nice to to type of like see where everybody comes 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 really dreary and I want I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why business preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical asset uh we'll likewise discuss a recap which needs to leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of typical and managing them ends up being increasingly more complex International companies are looking to find Solutions and new ways to improve procedures specifically from a payroll and cross-border payment perspective lots of companies keep separate bank account just for payroll while some have several accounts in different countries does it make sense for companies to keep different checking account often in various nations it does but just for payroll is there a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational business simplify the episode complex processes of
Guaranteeing accurate, efficient, and timely payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, find out how business forecast payroll costs to optimize working capital, and find how improving worldwide payroll payments can change them from a troublesome task into a strategic asset.
Handling payroll internationally is a daunting task due to various policies, compliance requirements, data security concerns, and banking guidelines. The large variety of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically result in manual processes, information silos, and a lack of combination, leading to disparities and inadequacies. Regardless of residing in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to supply insights and services to simplify and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in worldwide payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of global businesses have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors inadequately interacted hires and terminations along with lack management and system configurations and after that when you round everything off and the information is shipped to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're paying to staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't need to be consisted of right and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity wherever you look ideal eventually constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort 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 fundamental and technology is allowing us to sort of progress with that it likewise too to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup processes is absolutely essential that payroll and finance teams work more detailed together than ever um I'm constantly amazed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work 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 frequently 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 people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more important to add to sort of the level of complexity there's increasingly more advantages being organ or being used by services throughout the world so once again you're simply aiming to include increasingly more payments to this currently complicated landscape so if you sort of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine challenges or genuine tough type of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding details into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to develop extra handoffs at the same times that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and a period that you understand that we are working in today there is no reason why we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any company has from an expense point of view from an effect viewpoint on staff members it is absolutely vital 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 damaging result on people's wellness and many other elements if individuals aren't paid uh I've always been amazed entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just observe when things fail. However, when things go right, it's seen as just a regular job. This is how it's perceived externally too. Therefore, it is important to ensure that jobs like Wi-Fi Global and other essential matters are done correctly. Using the very first Global Payments very first payroll payment option is a fantastic preliminary step towards offering a comprehensive payroll solution for workers worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and savings account necessary for global payroll are key consider accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyway we understand 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 everyone that's involved in those processes and also so imagine sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and in fact see what was going on and kind of try to return to everyone so carrying on look why do companies select to primary separate checking account there are businesses out there doing precisely this for specific nations and I've operated in a company or numerous businesses doing exactly that I can state it does not always feel effective and it does produce more work I know we're not purposely doing that we're not producing extra work for anyone where we don't have to and anyone that's managing 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 believe lots of factors one is it's the requirement I believe individuals have got so utilized to we need a 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 think it's simply been the requirement and the norm the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I think this is a procedure that requires looking at it requires changing however ultimately people are very stuck with what they recognize
with right um change is a tough thing all of us don't like modification um so I think it's just kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having preserving numerous bank accounts but there's a substantial amount of intricacy chooses establishing a checking account preserving it ensuring it can send International transfers ensuring it's established with the right user accesses for private individuals so the complexity is big however I believe the sincere answer is modification um individuals haven't been able to alter or have not had always the knowledge to actually make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to track and this technique does position numerous difficulties um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this improved ability, I have successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.
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