Find out more about Papaya Global Payroll Demo ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This provides us with a secure and dependable 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 control panel for my payroll, EOR and specialists
The Staff member Website provides staff members with the capability to access and view important files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global helps business use competitive benefits packages to global workers no matter the variety of staff members in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every country, produce regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall employment costs distributed per place, overall employment expenses per cycle and a lot more.
Globally, I have shown management and tactical proficiency in guiding large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for overseeing payroll strategies, as discussed by Mark. My role involves handling and developing external collaborations, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to meet 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 concentrated on payroll and payment services for the past 7 years. The intricacies and challenges of this field have actually always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of different roles on the company side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates from and I really 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 drizzling here it's extremely really dreary and I wish I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business keep different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different savings account for payroll in different nations, 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 also provide a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and timely payroll payments is a complex obstacle for services running globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, find out how business anticipate payroll expenses to enhance working capital, and find how improving global payroll payments can transform them from a troublesome task into a strategic asset.
Managing payroll internationally is an overwhelming task due to numerous regulations, compliance requirements, information security concerns, and banking guidelines. The large variety of workers and companies adds to the complexity, with an estimated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of integration, leading to inconsistencies and ineffectiveness. In spite of living in an era of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to provide insights and services to streamline and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more a business invests in global payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of international services 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 due to time reporting bad HCM information data entry mistakes inadequately communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is delivered to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they rely on the required several 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 challenges organization face when they're making payments to employees or otherwise that's a good question I constantly toss this back and say what is it what does not need to be included right 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 nation there's payment amount of time there's payment capabilities 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 client's own in-country account so there's complexity any place you look ideal eventually constructing a knowledge base is definitely critical however all over you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to type of progress with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely essential that payroll and finance teams work better together than ever um I'm always impressed when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on wellness and the settlement landscape is becoming progressively elaborate. Organizations are constantly introducing brand-new advantages and payment choices, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into separate teams, which can cause inefficiencies and traffic jams. In my opinion, this doesn't have to be the case. In today's highly advanced age, there's no justification for preserving cumbersome treatments. Payroll, the business's greatest expenditure, must be processed properly and on time. Even small hold-ups can adversely impact employees' wellness and have significant effects. For that reason, it's important to focus on accurate and timely payments.
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone 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 people only notice when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's viewed externally as well. Therefore, it is essential to guarantee that tasks like Wi-Fi International and other important matters are done correctly. Using the first Worldwide Payments first payroll payment service is a fantastic preliminary step towards supplying a comprehensive payroll service for staff members worldwide. Standardization, global processes, and reducing the number of tools, platforms, and checking account essential for global payroll are crucial factors in attaining organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things do not go as planned. Eventually, we don't do it for the thankfulness.
anyway we understand how how crucial 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 easy as possible for everybody that's associated with those processes and also so think of sorry I'm just I was just gon na say envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions imagine getting that lots of 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 interesting task trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and really see what was going on and kind of try to return to everybody so moving on look why do business select to primary different bank accounts there are businesses out there doing exactly this for specific countries and I've worked in a service or lots of services doing precisely that I can say it does not always feel effective and it does create more work I know we're not purposely doing that we're not producing extra work for anyone where we do not have to and any person that's managing that process 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 requirement I believe people have actually got so used to we need a brand-new checking account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I believe this is a process that requires taking a look at it requires altering but ultimately individuals are extremely stuck with what they recognize
with ideal um modification is a hard thing all of us do not like modification um so I believe it's simply sort 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 understand clearly the benefits of having keeping multiple bank accounts but there's a big amount of complexity goes with establishing a bank account keeping it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific individuals so the complexity is substantial however I believe the sincere answer is modification um individuals have not had the ability to change or haven't had always the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've always done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be identified to be the next Century or so there is a lot to keep track of and this technique does pose numerous difficulties um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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