Find out more about Papaya Global India Salary ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to handling payments. This provides us with a safe and secure and trusted technique of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
The Worker Portal supplies workers with the capability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global assists business use competitive advantages bundles to worldwide staff members no matter the variety of staff members in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the need to source regional advantages companies in every country, develop local accounts and have a minimum variety of employees.
The HR capabilities supplied by Worldwide HR include numerous functions such as keeping track of getaway time, ensuring compliance, facilitating the process of welcoming new workers and bidding goodbye to departing ones, offering a secure online platform for keeping workers' documents, and providing assistance for work allow procedures in case your employees require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, total work expenses distributed per location, overall employment expenses per cycle and much more.
environments around the world I offered leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business handling and structure external relationships supporting Enterprise customers and solutions in addition to serving as a consultant for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce 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 present himself. Good day to all, regardless of your location. It's a pleasure to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of different functions on the supplier side and likewise on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I actually 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 very really uninspiring and I want I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies maintain different
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is particularly useful for international organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate checking account for payroll in various nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and prompt payroll payments is a complex difficulty for companies operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, discover how business anticipate payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can change them from a troublesome task into a strategic asset.
Managing payroll internationally is a difficult job due to different regulations, compliance requirements, information security issues, and banking guidelines. The large number of workers and businesses adds to the intricacy, with an estimated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems often lead to manual procedures, information silos, and an absence of combination, resulting in disparities and inefficiencies. In spite of residing in an age of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to provide insights and services to simplify and enhance international payroll payments.
about it to give you a concept 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 sleepless nights and quite honestly the more a business spends on global payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide services have actually expressed that they do not 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 poor HCM data data entry mistakes poorly interacted hires and terminations along with absence management and system configurations and after that when you round it all off and the information is shipped to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they depend on the necessary 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 service face when they're making payments to workers or otherwise that's a great question I constantly toss this back and say what is it what does not need 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 country 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 need to pay from the client's own in-country account so there's intricacy any place you look best eventually developing a knowledge base is absolutely vital however all over you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type 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 technology is enabling us to kind of move forward with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely necessary that payroll and financing groups work closer together than ever um I'm always impressed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to contribute to sort of the level of complexity there's increasingly more benefits being organ or being used by organizations throughout the world so once again you're simply wanting to include increasingly more payments to this already complex landscape so if you type of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real obstacles or real challenging kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would certainly say that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we need to produce additional handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason why we are still making this as challenging as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any business has from an expense viewpoint from an impact point of view on staff members it is absolutely vital that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant detrimental effect on people's well-being and many other aspects if people aren't paid uh I've always been surprised entering this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle we all become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely crucial that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment option is an excellent primary step um supplying an end-to-end payroll option for your staff members globally once again I believe is another substantial um process again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely crucial to success success of organizations and reducing the number of tools platforms and bank accounts they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not believe any of us are actually doing that for for the thanks
anyhow we understand how how important 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 simple as possible for everybody that's associated with those procedures and also so picture sorry I'm just I was just gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many 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 imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and in fact see what was going on and sort of try to get back to everyone so carrying on look why do business select to main separate savings account there are services out there doing precisely this for particular nations and I have actually operated in a service or lots of businesses doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not developing extra work for anyone where we don't have to and anybody that's handling 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 many reasons one is it's the standard I believe people have got so utilized to we need 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 adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I think this is a process that needs looking at it requires changing however ultimately individuals are extremely stuck to what they recognize
with best um modification is a difficult thing all of us do not like change um so I believe it's simply type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having keeping multiple bank accounts however there's a big quantity of complexity goes with setting up a checking account maintaining it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for specific individuals so the intricacy is huge however I think the sincere answer is modification um people have not had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change but we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could practically be figured out to be the next Century or two there is a lot to keep an eye on and this approach does present a number of obstacles um so Johnny might you tell us about those difficulties yeah naturally so there's a variety 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 staff members you should have a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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