Find out more about Papaya Global Employer Of Record ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly committed to managing payments. This provides us with a protected and reputable method of paying to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
Employee Portal
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work files. The website is offered in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business offer competitive benefits packages to worldwide workers despite the number of employees in the business. The business can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source local benefits suppliers in every nation, produce local accounts and have a minimum variety of staff members.
The HR abilities supplied by International HR encompass different functions such as keeping an eye on getaway time, making sure compliance, assisting in the procedure of inviting brand-new staff members and bidding goodbye to leaving ones, using a secure online platform for keeping workers' files, and supplying assistance for work allow procedures in case your workers need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total work costs distributed per area, total employment costs per cycle and much more.
Worldwide, I have demonstrated leadership and tactical proficiency in guiding massive populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for supervising payroll methods, as discussed by Mark. My role involves 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 company.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's an enjoyment to satisfy you and thank you for your valuable 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 focused on payroll and payment solutions for the past 7 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 six years where I have actually kind of had a variety of various functions on the service provider side and likewise on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everybody another couple 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 type 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 sunlight is it it's not no it's it's raining here it's very really bleak and I wish I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially helpful for worldwide companies with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining different checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic property 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.
Ensuring accurate, efficient, and prompt payroll payments is a complex difficulty for organizations operating internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll expenses to enhance working capital, and discover how streamlining international payroll payments can change them from a burdensome task into a tactical property.
Managing payroll internationally is an overwhelming job due to different regulations, compliance requirements, information security issues, and banking guidelines. The sheer number of employees and companies adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Traditional payroll systems often lead to manual procedures, information silos, and a lack of combination, resulting in inconsistencies and inefficiencies. Despite living in an age of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to provide insights and services to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more a business spends on global payroll the less of an image they see an absence of presence likewise reaches payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the deal almost half of global organizations have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes improperly interacted hires and terminations in addition to lack management and system configurations and then when you round all of it off and the data is shipped to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they rely on the required numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they're paying to employees or otherwise that's a great question I always toss this back and state what is it what does not need to be consisted of best and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 consumer's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is definitely important but all over you look with payroll payment they are like extremely 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is enabling us to kind of move forward with that it also as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely essential that payroll and financing groups work more detailed together than ever um I'm always surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information 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 contemporary world positions a high value on well-being and the settlement landscape is becoming increasingly elaborate. Companies are continuously presenting new advantages and payment options, which contributes to the overall intricacy. Large corporations often divide their payroll and payment processing into different groups, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn't have to be the case. In today's highly innovative era, there's no justification for preserving troublesome procedures. Payroll, the company's biggest cost, need to be processed properly and on time. Even small delays can adversely impact workers' well-being and have far-reaching repercussions. Therefore, it's vital to focus on precise and prompt payments.
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only discover when things fail. However, when things go right, it's seen as simply a regular job. This is how it's perceived externally as well. For that reason, it is essential to guarantee that tasks like Wi-Fi Global and other essential matters are done properly. Utilizing the first Worldwide Payments first payroll payment service is a fantastic initial step towards supplying a thorough payroll option for workers worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and checking account needed for international payroll are key consider attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyway we understand how how crucial a role 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 everyone that's associated with those processes 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 make certain we're discussing numerous thousands possibly Millions envision 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 but it would absolutely be an intriguing task trying 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 attempt to check out them and really see what was going on and type of shot to return to everyone so moving on appearance why do business choose to primary different savings account there are services out there doing exactly this for particular nations and I have actually operated in a service or many organizations doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not creating extra work for anybody where we don't need to and anyone that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think lots of reasons one is it's the standard I think individuals have got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a range I believe this is a procedure that requires looking at it requires altering but eventually people are very stuck to what they're familiar
with right um modification is a challenging thing all of us don't like change um so I think it's just sort 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 advantages of having maintaining several savings account but there's a big quantity of intricacy goes with setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is big however I believe the honest response is modification um people have not had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter but 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 track and this approach does position a number of difficulties um so Johnny could you tell us about those challenges 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 seems like our CFO has actually gained another CFO, and with this enhanced capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.
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