Find out more about Papaya Global Payroll Benefits ... We now have the ability 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 specifically dedicated to managing payments. This provides us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Employee Portal offers workers with the ability to access and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global helps business use competitive advantages packages to worldwide workers no matter the variety of staff members in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source local advantages companies in every nation, produce local accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall work expenses distributed per place, total employment expenses per cycle and much more.
Worldwide, I have shown leadership and tactical knowledge in assisting massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for managing payroll techniques, as discussed by Mark. My role includes handling and developing external collaborations, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for the majority of prominent companies on the planet we supply payroll payments and workforce management to all staff member enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon excellent evening depending on where you remain in the world it's lovely to satisfy 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 been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually type of had a variety of various functions on the supplier side and also on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very uninspiring and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a strategic property uh we'll likewise discuss a wrap-up which must leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more common and managing them becomes a growing number of intricate Worldwide companies are wanting to find Solutions and new methods to enhance procedures particularly from a payroll and cross-border payment viewpoint many organizations preserve different savings account just for payroll while some have numerous accounts in various countries does it make sense for companies to preserve separate savings account in some cases in different countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international companies enhance the episode complex procedures of
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how business anticipate payroll costs to optimize working capital, and find how streamlining worldwide payroll payments can change them from a troublesome job into a strategic possession.
Managing payroll globally is a difficult task due to various policies, compliance requirements, information security concerns, and banking rules. The sheer variety of employees and businesses adds 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 organizations worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and a lack of integration, causing inconsistencies and inefficiencies. Despite living in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to supply insights and options to simplify and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that offers me sleepless nights and rather honestly the more a business spends on global payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of international companies have actually revealed that they don't 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 poor HCM data data entry errors improperly communicated hires and terminations as well as lack management and system setups and then when you round all of it off and the information is delivered to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they depend on the necessary numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they're making payments to workers or otherwise that's a great concern I constantly throw this back and state what is it what does not require to be included ideal and what does
it require to be thought about there's differing 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 customer's own in-country account so there's complexity wherever you look ideal ultimately developing a knowledge base is absolutely crucial however everywhere you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort 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 fundamental and innovation is permitting us to type of progress with that it also also to contribute to that payroll and finance need to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm always amazed when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation 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 ultimately 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 also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on wellness and the payment landscape is becoming increasingly elaborate. Companies are constantly presenting new benefits and payment alternatives, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into different teams, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technically innovative period, there's no reason for preserving cumbersome treatments. Payroll, the company's most significant cost, should be processed properly and on time. Even minor hold-ups can adversely affect workers' well-being and have significant repercussions. For that reason, it's important to focus on precise and prompt payments.
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only notice when things fail. However, when things go right, it's viewed as just a regular task. This is how it's perceived externally as well. For that reason, it is necessary to ensure that tasks like Wi-Fi International and other vital matters are done correctly. Using the first Global Payments very first payroll payment option is a fantastic preliminary action towards providing a thorough payroll option for staff members worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and savings account required for global payroll are key factors in achieving business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
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 everybody that's involved in those procedures and likewise so imagine sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions picture getting that numerous 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 absolutely be a fascinating task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and kind of try to return to everyone so carrying on look why do business select to main different savings account there are organizations out there doing precisely this for specific countries and I have actually operated in a business or lots of companies doing precisely that I can say it doesn't constantly feel effective and it does create more work I understand we're not deliberately doing that we're not producing additional work for any person where we don't have to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe 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 believe people have actually got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll functions 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 embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and many other methods um to to kind of do it so I think there's a range I believe this is a procedure that requires looking at it requires changing however eventually people are extremely stuck to what they recognize
with ideal um modification is a challenging thing all of us don't like modification um so I believe it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having maintaining numerous savings account but there's a big amount of intricacy goes with setting up a bank account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for specific people so the complexity is big however I think the truthful response is change um people have not had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I think it is understanding you know and there is a component of resistance to alter but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to monitor and this technique does position a number of obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I recently made a modification 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 acquired another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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