Find out more about Papaya Global Ltd. ... 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 obtained a separate Chief Financial Officer particularly committed to handling payments. This supplies us with a secure and reliable method of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll procedure, conserving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Staff member Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and employment files. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to worldwide employees despite the variety of employees in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source regional benefits companies in every nation, develop regional accounts and have a minimum variety of staff members.
The HR abilities supplied by Global HR incorporate different functions such as keeping an eye on getaway time, guaranteeing compliance, helping with the process of welcoming new employees and bidding farewell to leaving ones, using a safe and secure online platform for keeping workers' files, and supplying support for work permit procedures in case your employees require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, total employment costs distributed per location, overall work costs per cycle and far more.
Internationally, I have actually demonstrated management and strategic knowledge in guiding massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role includes managing and developing external partnerships, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The intricacies and challenges of this field have constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of various roles on the provider side and also on the supplier side from a payroll point of view so really anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everybody another number of uh well among 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 quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everyone comes from and I really 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 raining here it's extremely extremely bleak and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why business keep separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining different checking account for payroll in various nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and prompt payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll costs to optimize working capital, and discover how streamlining worldwide payroll payments can change them from a difficult task into a strategic asset.
Managing payroll globally is a challenging job due to different guidelines, compliance requirements, information security concerns, and banking guidelines. The large variety of employees and organizations contributes to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically lead to manual processes, information silos, and a lack of combination, causing inconsistencies and inadequacies. Despite residing in a period of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to offer insights and solutions to simplify and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that gives me sleepless nights and rather frankly the more a company spends on global payroll the less of an image they see an absence of visibility also encompasses payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide businesses have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors inadequately interacted hires and terminations as well as lack management and system setups and after that when you round all of it off and the data is shipped to the wrong place the typical cost 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 all over the world payroll and payments do not run smoothly if they rely on the needed numerous procedures 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 making payments to staff members or otherwise that's an excellent concern I always toss this back and say what is it what doesn't require to be consisted of ideal and what does
it require to be thought of 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy wherever you look best eventually developing a knowledge base is absolutely crucial however all over you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and innovation is permitting us to type of move on with that it also as well to add to that payroll and finance need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is definitely necessary that payroll and financing groups work closer together than ever um I'm always astonished when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide 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 process it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high worth on wellness and the compensation landscape is becoming progressively intricate. Companies are continuously presenting new benefits and payment choices, which adds to the overall complexity. Large corporations often divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my viewpoint, this does not have to hold true. In today's highly sophisticated period, there's no reason for keeping troublesome procedures. Payroll, the company's greatest expense, need to be processed correctly and on time. Even small hold-ups can adversely impact workers' wellness and have far-reaching effects. For that reason, it's vital to prioritize accurate and timely payments.
payroll group get um so I'm not exactly sure anyone on this sort of webinar has actually 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 however eventually payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment option is a great first step um offering an end-to-end payroll service for your staff members globally again I believe is another big um procedure again lining up and guaranteeing you have standardization International procedures all of those things are definitely key to success success of businesses and lowering the number of tools platforms and bank accounts they need for their Worldwide payroll too could not 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 5 or ten or whatever it might be with the with the the problems where things have not gone quite where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we understand 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 imagine 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 people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and really see what was going on and kind of shot to get back to everybody so proceeding appearance why do business select to primary separate savings account there are businesses out there doing exactly this for particular nations and I've operated in a company or many companies doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not purposely doing that we're not producing extra work for anybody where we don't need to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the standard I believe individuals have actually got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll functions however there are a number 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 gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I believe this is a procedure that requires looking at it requires changing but eventually people are very stuck with what they're familiar
with best um change is a tough thing all of us do not like modification um so I believe it's just type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having maintaining multiple bank accounts however there's a big amount of intricacy opts for establishing a checking account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for private individuals so the intricacy is huge however I believe the truthful answer is modification um individuals have not had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I believe it is understanding you understand and there is a component of resistance to alter however we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century or so there is a lot to keep an eye on and this approach does pose numerous challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a range right there is so
I simply did you switched our Enterprise 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 staff members you deserve a corner office with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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