Find out more about Papaya Global New Caledonia ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This provides us with a safe and reputable technique of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Staff member Portal provides workers with the ability to access and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global assists companies offer competitive benefits packages to global staff members no matter the variety of staff members in the company. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source local benefits providers in every country, create local accounts and have a minimum variety of employees.
The HR abilities supplied by Global HR include various functions such as keeping an eye on trip time, making sure compliance, assisting in the procedure of inviting new employees and bidding farewell to departing ones, offering a safe and secure online platform for saving employees' documents, and offering support for work permit procedures in case your staff members require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall employment costs dispersed per location, overall employment costs per cycle and far more.
Worldwide, I have demonstrated management and tactical competence in assisting massive populations of over 100,000 employees across 170 nations. Presently, I am responsible for supervising payroll strategies, as pointed out by Mark. My function includes handling and developing external collaborations, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or six years where I've sort of had a range of different functions on the company side and also on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just provide everybody another number of uh well one of 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 already just to hear where everyone is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely very bleak and I want I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business keep separate
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is especially beneficial for global organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining different checking account for payroll in various countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for businesses running globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how business forecast payroll costs to enhance working capital, and find how simplifying worldwide payroll payments can transform them from a troublesome task into a strategic property.
Handling payroll worldwide is a difficult job due to numerous policies, compliance requirements, data security issues, and banking rules. The large variety of employees and services adds to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently result in manual processes, data silos, and an absence of combination, causing disparities and inadequacies. Despite living in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to offer insights and options to simplify and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more a company spends on worldwide payroll the less of a photo they see an absence of visibility also reaches payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of international services 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 mistakes are because of time reporting bad HCM information information entry errors inadequately communicated hires and terminations as well as absence management and system setups and then when you round everything off and the data is delivered to the incorrect place 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 do not run smoothly if they rely on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're making payments to workers or otherwise that's an excellent concern I constantly throw this back and say what is it what does not need to be consisted of best and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 customer's own in-country account so there's intricacy wherever you look right ultimately constructing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to kind of progress with that it also as well to add to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely important that payroll and financing groups work more detailed together than ever um I'm constantly astonished when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on wellness and the compensation landscape is ending up being significantly intricate. Organizations are continuously presenting brand-new advantages and payment options, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into separate teams, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't need to hold true. In today's technically innovative era, there's no validation for maintaining troublesome treatments. Payroll, the business's biggest cost, need to be processed correctly and on time. Even small delays can adversely affect employees' well-being and have far-reaching repercussions. For that reason, it's vital to prioritize precise and prompt payments.
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's perceived externally too. Therefore, it is essential to make sure that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the first International Payments first payroll payment solution is a great preliminary action towards providing an extensive payroll solution for employees worldwide. Standardization, global processes, and decreasing the number of tools, platforms, and savings account necessary for global payroll are essential consider achieving organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things don't go as prepared. Eventually, we do not do it for the thankfulness.
anyway we know how how important 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 associated with those processes and likewise so envision sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and actually see what was going on and kind of shot to get back to everybody so carrying on appearance why do business select to primary separate bank accounts there are services out there doing exactly this for specific countries and I've worked in a business or numerous businesses doing precisely that I can say it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for anybody where we don't need to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of reasons one is it's the requirement I believe people have got so used to we need a new savings account we open an entity and appropriately so you require it for payroll functions 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 actually adopted and continue to do over years and years gone past 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 requires changing however eventually people are extremely stuck to what they recognize
with best um change is a challenging thing we all do not like modification um so I believe it's just type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having preserving multiple savings account however there's a substantial amount of complexity chooses setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the complexity is substantial however I think the truthful answer is change um individuals have not had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking 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've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century or so there is a lot to keep track of and this approach does present several challenges um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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