Find out more about Papaya Global Payroll Discount Code ... 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 actually acquired a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a secure and trustworthy method of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Employee Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work documents. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business provide competitive benefits plans to worldwide employees no matter the variety of employees in the business. The business can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source regional benefits service providers in every nation, create local accounts and have a minimum number of staff members.
The HR capabilities offered by International HR encompass numerous functions such as keeping track of getaway time, guaranteeing compliance, facilitating the procedure of inviting new staff members and bidding farewell to leaving ones, using a protected online platform for storing employees' documents, and offering support for work permit procedures in case your staff members require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall employment expenses dispersed per location, overall employment costs per cycle and far more.
Worldwide, I have demonstrated leadership and tactical expertise in guiding massive populations of over 100,000 employees across 170 countries. Currently, I are accountable for managing payroll methods, as discussed by Mark. My role includes handling and establishing 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 solutions company.
business to make the time 100 list for many prominent companies in the world we provide payroll payments and labor force management to all employee types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon good evening depending on where you are in the world it's lovely to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I've type of had a variety of various functions on the company side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone comes 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 extremely dreary and I want I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll likewise discuss a wrap-up which should leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more common and managing them becomes a growing number of complicated Worldwide companies are seeking to discover Solutions and brand-new methods to streamline procedures especially from a payroll and cross-border payment standpoint numerous organizations preserve separate checking account just for payroll while some have multiple accounts in various countries does it make good sense for companies to keep separate bank accounts in some cases in different nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational companies simplify the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, learn how companies anticipate payroll costs to optimize working capital, and find how streamlining international payroll payments can change them from a troublesome task into a strategic asset.
Handling payroll globally is a difficult task due to numerous guidelines, compliance requirements, data security issues, and banking guidelines. The sheer variety of staff members and companies contributes to the complexity, with an approximated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems typically lead to manual processes, information silos, and a lack of combination, leading to disparities and inefficiencies. Despite residing in a period of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to provide insights and solutions to simplify and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more an organization invests in global payroll the less of a picture they see an absence of visibility also reaches payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide businesses have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly communicated hires and terminations as well as lack management and system setups and then when you round everything off and the data is delivered to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they depend on the necessary 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 service face when they're making payments to workers or otherwise that's a good concern I always throw this back and state what is it what does not need to be included right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look right ultimately developing a knowledge base is definitely vital but everywhere you look with payroll payment they are like super payments no if but some infants 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 believe there's now a bit more recognition that payroll payments are definitely essential and innovation is allowing us to kind of move forward with that it also also to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely important that payroll and financing teams work closer together than ever um I'm always impressed when people 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 profession 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 frequently 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 wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more essential to contribute to sort of the level of intricacy there's increasingly more advantages being organ or being used by businesses throughout the world so again you're just seeking to add a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real obstacles or genuine tough kind of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would absolutely say that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that does not always require to be the case you know long gone are the times where we need to develop extra handoffs at the same times that we operate in they just make them more prompt they make them less effective and they do not make them what they need to be in in a period of tech and an era that you know that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single biggest liability that any company has from a cost perspective from an impact viewpoint on workers it is absolutely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging impact on individuals's wellness and numerous other factors if individuals aren't paid uh I have actually constantly been amazed entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just see when things go wrong. However, when things go right, it's seen as just a routine job. This is how it's viewed externally also. For that reason, it is necessary to ensure that jobs like Wi-Fi Global and other vital matters are done correctly. Using the first Worldwide Payments first payroll payment option is a terrific preliminary action towards providing a comprehensive payroll solution for workers worldwide. Standardization, international procedures, and lowering the number of tools, platforms, and bank accounts essential for global payroll are key consider accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyhow we know 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 simple as possible for everyone that's involved in those processes and likewise so think of sorry I'm just I was simply gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and sort of shot to get back to everyone so proceeding look why do business pick to primary separate savings account there are services out there doing precisely this for specific countries and I have actually worked in a business or many companies doing exactly that I can say it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not creating extra work for anyone where we don't need to and anyone that's handling 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 believe lots of reasons one is it's the requirement I believe people have got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I think this is a procedure that requires taking a look at it requires altering however eventually people are extremely stuck with what they recognize
with ideal um change is a difficult thing we all do not like modification um so I think it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having maintaining numerous checking account but there's a huge amount of intricacy opts for setting up a checking account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private people so the intricacy is huge however I believe the honest response is modification um people haven't had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or so there is a lot to track and this approach does posture several obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I recently made a change to our Business 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 actually acquired another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your achievements.
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