Find out more about Papaya Global Russia ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a secure and dependable method of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Worker Website
Employees have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to global employees despite the number of staff members in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every country, produce local accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total employment costs distributed per place, total work costs per cycle and much more.
Internationally, I have demonstrated leadership and tactical know-how in assisting large-scale populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for managing payroll techniques, as discussed by Mark. My function includes managing and developing external partnerships, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to meet 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 market, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually kind of had a range of different functions on the provider side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine 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 fine so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical asset uh we'll likewise discuss a recap which must leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of common and managing them ends up being a growing number of complicated International companies are looking to discover Solutions and new methods to streamline processes especially from a payroll and cross-border payment viewpoint numerous organizations keep separate bank account just for payroll while some have numerous accounts in different nations does it make good sense for business to keep separate bank accounts often in different countries it does however just for payroll exists a better method what role do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies streamline the episode complex procedures of
Ensuring precise, effective, and prompt payroll payments is a complex challenge for organizations running globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to enhance working capital, and discover how simplifying worldwide payroll payments can transform them from a challenging job into a tactical possession.
Handling payroll globally is an overwhelming job due to numerous regulations, compliance requirements, data security concerns, and banking rules. The sheer number of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems often lead to manual processes, data silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. In spite of residing in an era of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to provide insights and services to simplify and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that gives me sleepless nights and quite honestly the more an organization spends on global payroll the less of a photo they see a lack of presence also encompasses payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide companies have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors improperly interacted hires and terminations in addition to absence 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 an international data 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 do not run efficiently if they rely on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're paying to workers or otherwise that's a great question I constantly toss this back and say what is it what doesn't require to be consisted of best and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 customer's own in-country account so there's complexity any place you look right ultimately building a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type 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 absolutely essential and innovation is allowing us to type of move forward with that it also too to add to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely essential that payroll and finance groups work more detailed together than ever um I'm constantly amazed when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on wellness and the compensation landscape is becoming progressively detailed. Services are continually presenting new advantages and payment options, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into different groups, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technically advanced period, there's no justification for preserving troublesome treatments. Payroll, the company's most significant cost, must be processed properly and on time. Even minor delays can adversely affect staff members' well-being and have significant repercussions. For that reason, it's important to prioritize accurate and timely payments.
payroll team get um so I'm unsure anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle we all find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done properly so leveraging the very first International Payments first payroll payment service is an excellent initial step um offering an end-to-end payroll option for your workers worldwide once again I believe is another big um process once again lining up and guaranteeing you have standardization International processes all of those things are absolutely essential to success success of services and reducing the number of tools platforms and bank accounts they require for their International payroll too couldn't 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 thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know 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 simple as possible for everybody that's associated with those processes 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 quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating 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 need days of the week to attempt to look through them and actually see what was going on and sort of shot to return to everybody so carrying on appearance why do companies select to primary different checking account there are services out there doing exactly this for particular countries and I've worked in a company or many businesses doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not intentionally doing that we're not creating additional work for anybody where we do not have to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I think people have got so utilized to we require a new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs changing however eventually people are really stuck to what they're familiar
with best um modification is a tough thing all of us don't like change um so I believe it's simply 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 benefits of having keeping several savings account however there's a huge quantity of intricacy goes with setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private people so the complexity is big but I think the honest response is modification um individuals have not had the ability to alter or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what might almost be identified to be the next Century approximately there is a lot to keep track of and this approach does present several obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I just 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 actually acquired another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your accomplishments.
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