Find out more about Papaya Global Peo ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and trustworthy method of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app improves my payroll procedure, saving me a substantial amount of time monthly. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Employee Portal
Workers have access to a Staff member 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 phone.
Advantages Administration
Papaya Global helps companies use competitive benefits packages to global workers no matter the number of employees in the company. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional advantages suppliers in every country, create local accounts and have a minimum number of workers.
The HR capabilities supplied by Global HR incorporate various functions such as keeping an eye on vacation time, ensuring compliance, helping with the process of inviting new employees and bidding goodbye to departing ones, offering a safe online platform for storing workers' documents, and providing assistance for work permit procedures in case your employees need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total work expenses dispersed per place, overall work costs per cycle and much more.
Globally, I have demonstrated leadership and strategic knowledge in directing large-scale populations of over 100,000 employees across 170 nations. Currently, I am responsible for managing payroll strategies, as discussed by Mark. My role includes managing and developing external partnerships, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
company to make the time 100 list for a lot of prominent business in the world we provide payroll payments and labor force management to all staff member types in over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon great night depending on where you remain in the world it's beautiful to fulfill 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've 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 fascinated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've kind of had a variety of various roles on the company side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind 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 actually 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 very extremely gloomy and I want I was elsewhere at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business maintain separate
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is especially useful for global organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and prompt payroll payments is a complex challenge for businesses running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, discover how business anticipate payroll costs to enhance working capital, and discover how improving worldwide payroll payments can transform them from a burdensome job into a tactical possession.
Handling payroll globally is an overwhelming job due to numerous regulations, compliance requirements, data security concerns, and banking guidelines. The large variety of staff members 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 organizations worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and an absence of combination, resulting in inconsistencies and inefficiencies. In spite of residing in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to supply insights and solutions to simplify and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a service invests in international payroll the less of an image they see an absence of presence likewise extends to payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal almost half of international services have actually revealed 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 due to time reporting poor HCM information data entry mistakes poorly interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is shipped to the wrong place the average expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they depend on the necessary numerous 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 challenges company face when they're paying to employees or otherwise that's an excellent concern I constantly throw this back and state what is it what does not need to be consisted of best and what does
it need to be considered there's differing 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 abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is definitely important however everywhere you look with payroll payment they are like incredibly payments no if but some children 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 think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to kind of move forward with that it also as well to add to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely important that payroll and finance groups work more detailed together than ever um I'm constantly impressed when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to contribute to kind of the level of complexity there's increasingly more advantages being organ or being used by companies across the world so again you're simply seeking to include increasingly more payments to this currently intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real difficulties or genuine difficult type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce extra handoffs while doing sos that we operate in they just make them more timely they make them less effective and they do not make them what they need to be in in an era of tech and an age that you understand that we are operating in today there is no reason why we are still making this as difficult as it needs to be agreed and rightly as you said payroll is the single most significant liability that any company has from an expense perspective from an effect viewpoint on staff members it is absolutely crucial that it's done correctly 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 most significant detrimental effect on individuals's wellness and lots of other elements if people aren't paid uh I've always been amazed entering this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this type 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 staff members or not um but ultimately payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I think 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 stuff is definitely essential that all of this things is done correctly so leveraging the very first International Payments first payroll payment option is a fantastic primary step um offering an end-to-end payroll option for your workers internationally again I think is another substantial um process once again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely key to success success of businesses and lowering the number of tools platforms and checking account 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've never had a hundred thousand of them within a payroll cycle do not expect 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 suggested to be um I do not think any of us are in fact doing that for for the thanks
anyhow we understand how how important 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 easy as possible for everybody that's associated with those procedures and also so imagine sorry I'm simply I was just gon na say envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task attempting to clean 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 try to check out them and actually see what was going on and sort of shot to get back to everyone so proceeding look why do business select to primary separate savings account there are businesses out there doing precisely this for particular nations and I have actually worked in a company or numerous businesses doing exactly that I can state it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not producing additional work for anyone where we don't have to and anybody that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the requirement I think individuals have actually got so used to we need a new checking account we open an entity and rightly 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 embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs altering however eventually individuals are extremely stuck to what they recognize
with best um modification is a challenging thing we all don't like modification um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having maintaining multiple bank accounts but there's a big quantity of intricacy chooses setting up a savings account keeping it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is big but I think the truthful response is modification um individuals haven't been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change however we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could practically be determined to be the next Century approximately there is a lot to monitor and this method does present a number of obstacles um so Johnny could you inform us about those challenges yeah of course so there's a range 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 Worldwide employees you deserve a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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