Find out more about Papaya Global Unicorn ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly devoted to managing payments. This provides us with a protected and trustworthy technique of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
The Employee Portal provides staff members with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global assists business use competitive benefits packages to global staff members despite the variety of employees in the business. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local benefits companies in every country, produce local accounts and have a minimum number of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total employment expenses dispersed per place, overall employment expenses per cycle and far more.
Worldwide, I have actually demonstrated leadership and tactical competence in guiding large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for supervising payroll strategies, as discussed 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 solutions service provider.
business to make the time 100 list for a lot of prominent companies worldwide we provide payroll payments and labor force management to all employee key ins over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good night depending on where you are in the world it's lovely to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've sort of had a variety of various roles on the provider side and likewise on the vendor side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I truly 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 very bleak 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 difficulty years of handling International payroll why companies keep separate
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is particularly helpful for worldwide companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also supply a recap 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 challenge for businesses running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll costs to enhance working capital, and find how simplifying global payroll payments can change them from a troublesome task into a tactical asset.
Handling payroll internationally is a challenging job due to numerous policies, compliance requirements, data security concerns, and banking guidelines. The large variety of staff members and companies contributes to the complexity, with an approximated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically result in manual processes, data silos, and a lack of integration, leading to inconsistencies and inefficiencies. In spite of residing in an era of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to supply insights and options 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 Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more a company spends on international payroll the less of a picture they see an absence of exposure also extends to payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of global businesses have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes poorly communicated hires and terminations as well as absence management and system setups and then when you round it all off and the information is shipped to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments don't 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 needs to be factored into the difficulties service face when they're making payments to employees or otherwise that's a great question 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 about there's varying 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 need to pay from the client's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is definitely critical however all over you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to kind of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely imperative that payroll and financing groups work closer together than ever um I'm constantly impressed when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't 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 frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on well-being and the payment landscape is becoming progressively complex. Services are continually presenting new advantages and payment options, which contributes to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can result in inefficiencies and traffic jams. In my viewpoint, this does not need to hold true. In today's technologically sophisticated period, there's no justification for maintaining cumbersome procedures. Payroll, the business's greatest expenditure, need to be processed correctly and on time. Even minor delays can adversely affect employees' well-being and have far-reaching consequences. For that reason, it's crucial to focus on precise and timely payments.
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just discover when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally also. For that reason, it is important to ensure that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment solution is a fantastic initial step towards supplying an extensive payroll service for employees worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and savings account needed for worldwide payroll are crucial consider achieving organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyhow we understand how how crucial a function 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 involved in those procedures and also so picture sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions envision getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and really see what was going on and kind of try to return to everybody so moving on look why do business pick to primary separate checking account there are companies out there doing exactly this for particular countries and I have actually worked in a company or many organizations doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not purposely doing that we're not developing additional work for anyone where we do not have to and anyone 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 think lots of factors one is it's the requirement I believe individuals have actually got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I believe this is a procedure that requires taking a look at it needs altering however ultimately people are extremely stuck to what they recognize
with ideal um modification is a hard thing all of us don't like modification um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having maintaining several savings account however there's a huge quantity of complexity goes with setting up a checking account preserving it ensuring it can send out International transfers ensuring it's established with the best user accesses for specific individuals so the intricacy is big but I believe the sincere answer is modification um people haven't had the ability to alter or have not had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you have actually struck 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 real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century approximately there is a lot to keep an eye on and this method does position a number of challenges um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your achievements.
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