Find out more about Papaya Global גיוס ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a protected and trustworthy approach of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Employees have access to a Worker Portal where they can view their pay slips, wage and tax statements and work files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive benefits packages to worldwide staff members no matter the variety of staff members in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source regional benefits providers in every country, create local accounts and have a minimum variety of workers.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total work costs distributed per location, total employment costs per cycle and much more.
environments around the world I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and structure external relationships supporting Business customers and options as well as functioning as an advisor for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We focus on providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment services for the past seven years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of various functions on the provider side and also on the vendor side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather 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 everybody comes from and I truly do hope it's much sunnier than it is 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 really really gloomy and I wish I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies keep separate
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and prompt payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, find out how companies forecast payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a difficult job into a strategic asset.
Handling payroll internationally is a complicated task due to numerous policies, compliance requirements, data security issues, and banking guidelines. The sheer variety of staff members and services contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems often lead to manual procedures, data silos, and a lack of integration, resulting in disparities and inefficiencies. Despite living in an era of technological developments, payroll management has been sluggish 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 options to simplify and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more a business invests in global payroll the less of an image they see an absence of presence also encompasses payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide services have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes inadequately interacted hires and terminations along with lack management and system configurations and then when you round all of it off and the information is delivered to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the necessary several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles company face when they're making payments to staff members or otherwise that's a good question I always toss this back and state what is it what doesn't need to be included ideal and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 wherever you look ideal ultimately constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 fundamental and innovation is enabling us to kind of move on with that it also too to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and finance teams work closer together than ever um I'm constantly astonished when people state I've split payroll and payment um if you walk 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 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 any place they are but also paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on well-being and the compensation landscape is becoming progressively detailed. Businesses are continually presenting new advantages and payment choices, which adds to the overall intricacy. Large corporations often divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's highly innovative period, there's no validation for keeping cumbersome procedures. Payroll, the business's greatest expense, should be processed correctly and on time. Even small hold-ups can adversely impact employees' well-being and have far-reaching effects. Therefore, it's vital to prioritize accurate and timely payments.
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only discover when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally as well. Therefore, it is necessary to guarantee that jobs like Wi-Fi Global and other vital matters are done correctly. Utilizing the first Global Payments very first payroll payment option is a great preliminary step towards supplying a comprehensive payroll service for staff members worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and savings account needed for international payroll are essential factors in achieving business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyway 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 associated with those procedures and likewise so imagine sorry I'm just I was just gon na state imagine 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 hundreds of thousands potentially Millions think of getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and in fact see what was going on and kind of try to return to everyone so moving on appearance why do business choose to main different savings account there are services out there doing precisely this for specific nations and I've operated in a service or numerous businesses doing exactly that I can say it doesn't always feel efficient and it does create more work I know we're not deliberately doing that we're not creating extra work for anybody where we don't have to and any person that's managing 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 quantity that we are I think numerous reasons one is it's the requirement I think individuals have actually got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have embraced 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 kind of do it so I believe there's a range I think this is a process that requires taking a look at it needs changing but ultimately individuals are really stuck with what they recognize
with ideal um change is a challenging thing we all don't like change um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having keeping numerous savings account however there's a big amount of intricacy opts for setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for private individuals so the complexity is huge but I believe the honest response is change um individuals haven't had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or two there is a lot to monitor and this technique does present several obstacles um so Johnny could you tell us about those obstacles yeah naturally so there's a range right there is so
I just did you switched our Business 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 Global employees you should have a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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