Find out more about Papaya Global Bonus Payroll ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and secure and dependable technique of paying 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 professionals
The Staff member Portal supplies workers with the ability to access and view important 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 different languages.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to global staff members despite the number of workers in the business. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every country, develop 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 employees' documents and migration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, overall work expenses dispersed per location, overall employment expenses per cycle and a lot more.
Worldwide, I have demonstrated leadership and strategic competence in directing massive populations of over 100,000 workers across 170 nations. Currently, I are accountable for supervising payroll techniques, as mentioned by Mark. My function includes handling and establishing external partnerships, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for a lot of prominent companies worldwide we provide payroll payments and workforce management to all employee types in over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good evening depending on where you remain in the world it's lovely to meet you and thank you quite 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 market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually type of had a range of different functions on the company side and also on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or so to join we all 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 simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually 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 raining here it's really really bleak and I wish I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies maintain separate
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how business forecast payroll expenses to optimize working capital, and find how simplifying international payroll payments can transform them from a troublesome task into a strategic asset.
Managing payroll internationally is an overwhelming job due to various regulations, compliance requirements, information security concerns, and banking guidelines. The sheer variety of staff members and businesses contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and a lack of integration, resulting in disparities and ineffectiveness. In spite of residing in an era of technological developments, payroll management has actually 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 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 only 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 a business spends on global payroll the less of a photo they see a lack of exposure likewise reaches payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of global companies have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors improperly interacted hires and terminations as well as lack management and system setups and after that when you round it all off and the data is shipped to the wrong location the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they depend on the essential 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 obstacles organization face when they're making payments to workers or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be included ideal and what does
it need to be thought about there's varying Bank information 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 client's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is definitely critical but 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 kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is enabling us to kind of move forward with that it also too to contribute to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely essential that payroll and finance groups work closer together than ever um I'm always astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation 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 procedure it's the point of data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on well-being and the payment landscape is becoming significantly elaborate. Businesses are continually introducing brand-new advantages and payment alternatives, which contributes to the overall complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can cause ineffectiveness and bottlenecks. In my viewpoint, this does not need to be the case. In today's technologically sophisticated period, there's no reason for keeping cumbersome procedures. Payroll, the business's greatest cost, need to be processed properly and on time. Even minor hold-ups can negatively affect employees' well-being and have significant consequences. For that reason, it's critical to prioritize accurate and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody 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 individuals only see when things go wrong. However, when things go right, it's seen as just a routine job. This is how it's perceived externally too. For that reason, it is necessary to ensure that jobs like Wi-Fi Worldwide and other important matters are done correctly. Using the first International Payments very first payroll payment service is an excellent initial action towards supplying a comprehensive payroll solution for staff members worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and bank accounts essential for worldwide payroll are crucial factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyway 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 simple as possible for everybody that's involved in those procedures and likewise so think of sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions picture getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and really see what was going on and kind of shot to get back to everybody so carrying on look why do companies select to primary different checking account there are companies out there doing exactly this for particular countries and I've worked in a business or many businesses doing exactly that I can say it does not constantly feel efficient and it does create more work I understand we're not intentionally doing that we're not producing additional work for anyone where we do not need to and anybody that's handling 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 believe numerous factors one is it's the standard I think people have actually got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to type of do it so I think there's a range I believe this is a procedure that needs looking at it requires changing however ultimately individuals are really stuck to what they're familiar
with ideal um change is a hard thing we all don't like change um so I think 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 understand obviously the benefits of having maintaining several savings account however there's a substantial quantity of complexity goes with establishing a savings account preserving it ensuring it can send International transfers ensuring it's established with the ideal user accesses for private people so the intricacy is huge but I think the sincere answer is modification um individuals haven't been able to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to change however we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might almost be identified to be the next Century approximately there is a lot to keep track of and this method does pose numerous obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this boosted ability, I have actually effectively secured payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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