Find out more about Papaya Global Payroll Estimator ... We now have the capability to handle 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 committed to handling payments. This provides us with a safe and dependable method of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Worker Website supplies workers with the capability to access and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global helps business use competitive advantages packages to international workers regardless of the number of workers in the company. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source regional benefits providers in every country, produce local accounts and have a minimum variety of staff members.
The HR capabilities supplied by Worldwide HR incorporate different functions such as keeping track of holiday time, making sure compliance, assisting in the procedure of welcoming brand-new staff members and bidding goodbye to leaving ones, providing a safe and secure online platform for storing employees' documents, and supplying support for work allow procedures in case your workers need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total work expenses distributed per place, overall employment expenses per cycle and a lot more.
Internationally, I have demonstrated management and tactical competence in guiding large-scale populations of over 100,000 employees across 170 nations. Presently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My role includes managing and developing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a pleasure to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have actually always mesmerized me.
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 range of different roles on the supplier side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it remains 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 really really bleak and I wish I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies preserve separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical asset uh we'll likewise discuss a recap and that ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being more and more common and handling them ends up being a growing number of intricate International companies are wanting to discover Solutions and new ways to streamline procedures particularly from a payroll and cross-border payment standpoint lots of organizations preserve different bank account just for payroll while some have several accounts in various nations does it make good sense for companies to maintain different bank accounts in some cases in different countries it does but just for payroll exists a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational business enhance the episode complex processes of
Guaranteeing precise, effective, and timely payroll payments is a complex difficulty for companies running internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, learn how companies forecast payroll expenses to optimize working capital, and discover how streamlining international payroll payments can transform them from a difficult job into a tactical possession.
Managing payroll internationally is a daunting job due to various guidelines, compliance requirements, information security issues, and banking guidelines. The large variety of workers and services contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems typically result in manual procedures, data silos, and a lack of combination, leading to disparities and inefficiencies. In spite of residing in a period of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to supply insights and solutions to streamline and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather frankly the more a service invests in global payroll the less of a picture they see an absence of presence also encompasses payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal almost half of worldwide companies have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors poorly communicated hires and terminations along with absence management and system configurations and then when you round all of it off and the information is delivered to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they count on the essential multiple processes 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 business face when they're making payments to employees or otherwise that's a great question I always toss this back and state what is it what doesn't require to be consisted of 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 need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look right ultimately building a knowledge base is definitely important but everywhere you look with payroll payment they resemble extremely payments no if however 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 recognition that payroll payments are definitely fundamental and technology is allowing us to type of move forward with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely vital that payroll and financing teams work closer together than ever um I'm constantly astonished when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market 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 any place they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on well-being and the payment landscape is ending up being progressively complex. Services are continuously introducing new advantages and payment alternatives, which adds to the overall intricacy. Large corporations frequently divide their payroll and payment processing into separate groups, which can cause inefficiencies and bottlenecks. In my viewpoint, this does not have to be the case. In today's technologically sophisticated age, there's no justification for keeping cumbersome procedures. Payroll, the business's most significant cost, need to be processed correctly and on time. Even minor hold-ups can adversely impact workers' well-being and have significant consequences. Therefore, it's important to prioritize accurate and prompt payments.
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just notice when things fail. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally too. For that reason, it is essential to guarantee that jobs like Wi-Fi Global and other vital matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment option is a great preliminary action towards providing a thorough payroll option for staff members worldwide. Standardization, global processes, and lowering the number of tools, platforms, and bank accounts essential for international payroll are crucial factors in attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things don't go as planned. Ultimately, we don't do it for the appreciation.
anyhow 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 associated with those procedures and also so think of sorry I'm just I was simply gon na state envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions envision getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and in fact see what was going on and sort of shot to get back to everyone so carrying on appearance why do companies choose to main different checking account there are organizations out there doing exactly this for particular countries and I've worked in a service or numerous organizations doing precisely that I can say it doesn't constantly feel effective and it does produce more work I know we're not purposely doing that we're not producing extra work for anyone where we don't need to and anyone that's dealing with 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 amount that we are I believe many reasons one is it's the requirement I think individuals have got so used to we require a new bank account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I believe this is a procedure that requires looking at it requires altering however ultimately individuals are really stuck with what they're familiar
with ideal um change is a hard thing we all don't like change um so I think it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having preserving several savings account but there's a substantial amount of intricacy opts for establishing a savings account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for specific people so the complexity is substantial but I believe the honest answer is modification um individuals haven't had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might almost be identified to be the next Century or two there is a lot to keep track of and this approach does position numerous challenges um so Johnny could you tell us about those obstacles yeah of course so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you should have a corner workplace with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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