Find out more about Non Papaya Global Payroll ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to handling payments. This provides us with a secure and trustworthy approach of paying to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, saving me a significant amount of time every month. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Worker Website supplies staff members with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to worldwide employees regardless of the variety of workers in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the need to source regional advantages service providers in every country, produce local accounts and have a minimum number of employees.
The HR abilities provided by International HR incorporate numerous functions such as keeping track of holiday time, making sure compliance, assisting in the procedure of welcoming brand-new workers and bidding farewell to leaving ones, offering a safe online platform for keeping workers' documents, and supplying assistance for work allow procedures in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall employment costs dispersed per area, total employment costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical expertise in directing large-scale populations of over 100,000 workers across 170 nations. Presently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My role includes handling and establishing external collaborations, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We focus on offering payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I have actually type of had a variety of different roles on the company side and likewise on the vendor side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely very bleak and I want I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business preserve different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical possession uh we'll also discuss a recap which must leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more typical and handling them ends up being more and more intricate Worldwide organizations are seeking to discover Solutions and brand-new ways to streamline processes particularly from a payroll and cross-border payment standpoint lots of organizations preserve separate checking account just for payroll while some have multiple accounts in various nations does it make sense for business to maintain different bank accounts often in different countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business enhance the episode complex processes of
Ensuring accurate, effective, and timely payroll payments is a complex obstacle for companies operating globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to optimize working capital, and discover how streamlining international payroll payments can change them from a burdensome job into a tactical asset.
Managing payroll internationally is a complicated job due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The large variety of workers and companies adds to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual procedures, information silos, and a lack of combination, resulting in disparities and ineffectiveness. In spite of residing in an era of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to offer insights and services to simplify and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization spends on international payroll the less of a picture they see an absence of presence also encompasses payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction nearly half of international services have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors improperly communicated hires and terminations in addition to absence management and system setups and after that when you round it all off and the information is shipped to the wrong location the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they count on the required several 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 challenges company face when they're paying to employees or otherwise that's a great concern I always 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 of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities 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 anywhere you look right ultimately developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble super payments no if but some babies 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 recognition that payroll payments are definitely basic and technology is allowing us to kind of progress with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm always amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from calculation 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 procedure it's the point of data 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-day world places a high value on well-being and the payment landscape is becoming progressively detailed. Organizations are continuously presenting brand-new advantages and payment choices, which adds 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 opinion, this does not have to hold true. In today's technologically innovative period, there's no reason for maintaining cumbersome treatments. Payroll, the business's most significant expenditure, must be processed correctly and on time. Even minor hold-ups can adversely impact workers' wellness and have significant effects. For that reason, it's vital to focus on accurate and timely payments.
payroll group get um so I'm not sure anybody on this kind of webinar has 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 staff members or not um but eventually payroll is such an important cycle all of us find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely vital that all of this things is done correctly so leveraging the first Global Payments first payroll payment option is an excellent initial step um providing an end-to-end payroll solution for your workers globally again I think is another huge um process again lining up and guaranteeing you have standardization International processes all of those things are absolutely key to success success of companies and reducing the variety of tools platforms and savings account they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather 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 know 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 easy as possible for everybody that's associated with those procedures and likewise so imagine sorry I'm just I was simply gon na say imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job attempting to clean all those up for sure oh absolutely I can't imagine 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 actually see what was going on and sort of try to get back to everyone so moving on appearance why do companies pick to main separate savings account there are companies out there doing exactly this for particular nations and I've operated in a company or numerous services doing precisely that I can say it does not constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not developing additional work for anybody where we don't have to and any person that's managing that process 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 standard I believe individuals have actually got so used to we require a new checking account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other methods um to to kind of do it so I think there's a variety I believe this is a process that needs looking at it needs changing however ultimately individuals are extremely stuck to what they recognize
with ideal um change is a challenging thing we all don't like change um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having preserving multiple savings account but there's a huge quantity of complexity opts for setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private individuals so the complexity is big however I think the honest answer is change um individuals haven't had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century or two there is a lot to keep track of and this technique does position several challenges um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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