Find out more about Papaya Global Money Transfer ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to handling payments. This provides us with a protected and trustworthy method of making payments to our 10,000 employees worldwide.}
The cutting-edge international payroll management app streamlines my payroll process, saving me a considerable quantity of time every month. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Employee Website
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive benefits bundles to international workers despite the number of employees in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source local benefits companies in every country, develop local accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work expenses dispersed per place, overall employment expenses per cycle and much more.
Internationally, I have actually shown management and strategic expertise in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll techniques, as discussed by Mark. My function involves managing and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We focus on providing payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to satisfy you and thank you for your important 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 solutions for the past 7 years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I've kind of had a range of different functions on the service provider side and also on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really 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 very bleak and I wish I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies maintain separate
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is especially helpful for worldwide companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic possession for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for services running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, discover how companies forecast payroll costs to enhance working capital, and discover how simplifying worldwide payroll payments can change them from a difficult task into a strategic asset.
Managing payroll globally is a complicated job due to different regulations, compliance requirements, information security issues, and banking rules. The large number of workers and services contributes to the complexity, with an estimated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently lead to manual procedures, information silos, and an absence of combination, leading to inconsistencies and inefficiencies. Despite living in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to offer insights and services to streamline and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization invests in worldwide payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of international companies have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors poorly interacted hires and terminations in addition to absence management and system configurations and then when you round everything off and the data is delivered to the incorrect place the average expense of an international 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 do not run smoothly if they rely on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're paying to employees or otherwise that's an excellent concern I constantly throw this back and state what is it what does not need to be included ideal and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities 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 complexity anywhere you look right ultimately constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to type of progress with that it likewise also to add to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely necessary that payroll and financing groups work better together than ever um I'm always amazed when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 any place they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on well-being and the payment landscape is ending up being significantly detailed. Businesses are constantly introducing brand-new advantages and payment alternatives, which contributes to the general intricacy. Large corporations frequently divide their payroll and payment processing into separate teams, which can result in inadequacies and traffic jams. In my opinion, this doesn't need to be the case. In today's technologically innovative period, there's no reason for preserving cumbersome treatments. Payroll, the business's greatest expense, need to be processed correctly and on time. Even slight hold-ups can negatively affect staff members' wellness and have far-reaching effects. Therefore, it's important to prioritize accurate and timely payments.
payroll group get um so I'm uncertain anyone on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an important cycle we all find out about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this things is done properly so leveraging the very first International Payments first payroll payment solution is a fantastic primary step um offering an end-to-end payroll service for your workers internationally once again I think is another huge um process again aligning and ensuring you have standardization Global procedures all of those things are absolutely essential to success success of businesses and lowering the number of tools platforms and bank accounts they require for their International 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 had a hundred countless them within a payroll cycle do not anticipate 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 quite where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how essential 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 involved in those procedures and likewise so think of sorry I'm simply I was just gon na say envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many 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 was the case um you 'd need days of the week to try to check out them and actually see what was going on and type of shot to return to everybody so carrying on look why do companies select to main separate checking account there are organizations out there doing precisely this for specific nations and I've operated in a business or many services doing precisely that I can say it doesn't constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anyone where we don't have to and any person 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 think lots of reasons one is it's the requirement I believe people have got so used to we require a new checking account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and many other ways 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 needs changing but ultimately people are extremely stuck with what they're familiar
with right um modification is a tough thing we all do not like modification um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having maintaining numerous bank accounts but there's a substantial amount of complexity chooses establishing a savings account keeping it ensuring it can send out International transfers ensuring it's established with the right user accesses for specific people so the intricacy is huge but I think the sincere response is change um people haven't had the ability to change or have not had always the understanding to really make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be determined to be the next Century or two there is a lot to keep an eye on and this method does pose several difficulties um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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