Find out more about Papaya Global Poland ... 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 actually acquired a separate Chief Financial Officer particularly committed to managing payments. This offers us with a protected and trustworthy method of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll process, conserving me a significant amount of time every month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Worker Website offers employees with the capability to gain access to and view essential 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 different languages.
Advantages Administration
Papaya Global assists business offer competitive advantages packages to worldwide workers despite the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional advantages providers in every nation, create local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total work costs dispersed per area, total employment expenses per cycle and much more.
Globally, I have demonstrated leadership and tactical knowledge in directing large-scale populations of over 100,000 staff members across 170 nations. Currently, I are accountable for supervising payroll techniques, as pointed out by Mark. My role includes handling and establishing 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 services supplier.
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to satisfy you and thank you for your valuable 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 options for the past seven years. The complexities and challenges of this field have actually always captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've type of had a range of various functions on the provider side and also on the vendor side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everyone 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 interesting and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it is 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 really really gloomy and I want I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business maintain separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of preserving different savings account for payroll in different countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for businesses running internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how companies forecast payroll costs to optimize working capital, and discover how simplifying worldwide payroll payments can transform them from a challenging job into a strategic asset.
Handling payroll globally is a difficult job due to numerous guidelines, compliance requirements, data security issues, and banking guidelines. The sheer number of staff members and services adds to the complexity, with an approximated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently lead to manual procedures, information silos, and a lack of integration, leading to disparities and inefficiencies. Regardless of residing in an era of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to supply insights and solutions to streamline and optimize worldwide payroll payments.
about it to offer 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 frankly the more a service spends on worldwide payroll the less of a picture they see an absence of presence likewise reaches payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of global companies have actually expressed 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 due to time reporting poor HCM data information entry errors badly communicated hires and terminations as well as lack management and system setups and then when you round it all off and the information is delivered to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they depend on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties business face when they're paying to workers or otherwise that's a good concern I constantly toss this back and state what is it what doesn't require to be included right and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities 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 any place you look best eventually developing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like extremely 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is allowing us to sort of progress with that it also too to add to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely vital that payroll and financing groups work closer together than ever um I'm constantly impressed when individuals say 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 occupation would they split the payroll payment from computation 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 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 third parties so with the
The modern world places a high value on well-being and the settlement landscape is becoming progressively detailed. Services are continuously presenting new advantages and payment options, which adds to the general complexity. Large corporations often divide their payroll and payment processing into different teams, which can cause ineffectiveness and traffic jams. In my opinion, this doesn't have to hold true. In today's highly sophisticated period, there's no justification for maintaining troublesome procedures. Payroll, the company's most significant expense, should be processed properly and on time. Even slight hold-ups can negatively affect workers' wellness and have significant repercussions. For that reason, it's crucial to focus on precise and prompt payments.
The payroll group might not have 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 workers or not. Payroll is an essential cycle, and people only notice when things fail. However, when things go right, it's viewed as simply a routine task. This is how it's perceived externally as well. Therefore, it is essential to ensure that jobs like Wi-Fi International and other important matters are done properly. Using the first International Payments very first payroll payment solution is a terrific preliminary step towards providing a detailed payroll solution for staff members worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and checking account necessary for international payroll are essential factors in achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyhow we understand 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 simple as possible for everybody that's associated with those processes and also so picture sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating task trying 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 need days of the week to try to check out them and really see what was going on and type of shot to return to everyone so moving on appearance why do business choose to main separate savings account there are services out there doing precisely this for particular countries and I have actually worked in an organization or numerous companies doing precisely that I can state it doesn't constantly feel efficient and it does develop more work I know we're not purposely doing that we're not producing additional work for anyone where we do not have to and anyone that's managing 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 think lots of reasons one is it's the requirement I believe people have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals 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 lots of other ways um to to sort of do it so I believe there's a range I think this is a process that requires taking a look at it requires changing but ultimately individuals are really stuck to what they're familiar
with right um modification is a difficult thing all of us do not like modification um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having keeping several checking account but there's a huge amount of intricacy opts for establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for private individuals so the intricacy is big however I think the sincere response is modification um individuals haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a savings 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 alter however we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might nearly be identified to be the next Century or two there is a lot to monitor and this technique does present several difficulties um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a modification to our Business 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 acquired another CFO, and with this improved capability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your achievements.
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