Find out more about Papaya Global Bangalore Salary ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly committed to handling payments. This provides us with a protected and reputable method of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and contractors
The Worker Website offers staff members with the capability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to global staff members no matter the number of employees in the business. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source regional benefits companies in every nation, produce regional accounts and have a minimum number of employees.
The HR abilities offered by International HR include different functions such as monitoring vacation time, making sure compliance, assisting in the procedure of welcoming brand-new staff members and bidding goodbye to leaving ones, using a protected online platform for saving employees' documents, and offering support for work allow procedures in case your staff members require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, overall employment expenses distributed per location, total employment costs per cycle and far more.
Globally, I have demonstrated management and tactical know-how in assisting massive populations of over 100,000 workers throughout 170 nations. Currently, I are accountable for managing payroll techniques, as discussed by Mark. My role includes managing and developing external partnerships, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The complexities and challenges of this field have constantly 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 variety of various roles on the service provider side and likewise on the supplier side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody 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 extremely bleak and I wish I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why business maintain separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining separate savings account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and prompt payroll payments is a complex challenge for companies operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, learn how companies forecast payroll costs to enhance working capital, and discover how enhancing worldwide payroll payments can change them from a troublesome job into a tactical property.
Managing payroll internationally is a daunting task due to different policies, compliance requirements, data security concerns, and banking guidelines. The sheer number of employees and organizations contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of combination, leading to disparities and inefficiencies. Regardless of living in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to offer insights and solutions to streamline and optimize global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more a business invests in international payroll the less of an image they see an absence of visibility also encompasses payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the transaction nearly half of global companies have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes badly communicated hires and terminations along with lack management and system configurations and after that when you round all of it off and the data is shipped to the incorrect place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they rely on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles company face when they're paying to workers or otherwise that's a good concern I constantly toss this back and say what is it what doesn't require to be included right and what does
it need 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 amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy anywhere you look right eventually developing a knowledge base is definitely crucial but all over you look with payroll payment they resemble incredibly payments no if but 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 acknowledgment that payroll payments are definitely essential and innovation is enabling us to sort of move on with that it also too to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely imperative that payroll and finance groups work better together than ever um I'm always amazed when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually 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 but also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on wellness and the compensation landscape is ending up being progressively detailed. Companies are constantly introducing new benefits and payment alternatives, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into separate teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this does not need to hold true. In today's technologically advanced period, there's no justification for keeping troublesome procedures. Payroll, the company's greatest expenditure, need to be processed properly and on time. Even slight delays can negatively impact employees' well-being and have significant consequences. For that reason, it's critical to focus on accurate and timely payments.
payroll team get um so I'm not sure anyone on this kind of webinar has been informed 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 ultimately payroll is such an important cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong but 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 also like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment service is an excellent primary step um offering an end-to-end payroll option for your workers internationally again I believe is another substantial um procedure again lining up and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of companies and minimizing the number of tools platforms and savings account 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 ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyhow we know how how essential 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 also so imagine sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task 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 try to look through them and really see what was going on and kind of shot to return to everybody so proceeding look why do business choose to primary separate bank accounts there are companies out there doing exactly this for specific countries and I have actually operated in an organization or numerous companies doing precisely that I can state it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not developing extra work for anybody where we do not need to and anyone that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe many reasons one is it's the standard I think individuals have actually got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I think this is a procedure that requires looking at it needs altering but eventually individuals are very stuck with what they're familiar
with ideal um modification is a challenging thing we all don't like modification um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping multiple savings account however there's a big amount of intricacy opts for setting up a checking account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for individual people so the complexity is substantial but I believe the sincere answer is change um people haven't been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century approximately there is a lot to monitor and this method does pose several difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I just did you changed our Enterprise 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 International staff members you deserve a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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