Find out more about Papaya Global Payroll Features ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and trustworthy method of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Employee Portal provides employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global helps business use competitive benefits bundles to international employees regardless of the variety of employees in the company. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source regional benefits providers in every country, develop regional accounts and have a minimum number of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall employment costs dispersed per location, overall employment expenses per cycle and much more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business managing and structure external relationships supporting Business customers and solutions in addition to serving as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of different roles 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 quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually 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 drizzling here it's very extremely bleak and I want I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why business preserve different
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and prompt payroll payments is a complex difficulty for organizations operating internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, find out how companies forecast payroll expenses to enhance working capital, and find how streamlining international payroll payments can change them from a troublesome job into a tactical asset.
Handling payroll globally is a difficult job due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The large number of workers and businesses contributes to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems often result in manual procedures, data silos, and an absence of integration, resulting in disparities and inadequacies. Despite living in an era of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to provide insights and services to streamline and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service spends on international payroll the less of an image they see a lack of presence likewise reaches payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of global companies have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes inadequately communicated hires and terminations as well as lack management and system configurations and then when you round all of it off and the information is shipped to the incorrect location the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they depend on the essential several 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 company face when they're paying to staff members or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be consisted of ideal and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 wherever you look ideal ultimately developing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like incredibly payments no if but some babies 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 absolutely basic and innovation is permitting us to kind of move on with that it also too to contribute to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely important that payroll and finance teams work more detailed together than ever um I'm always amazed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often 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 anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on well-being and the settlement landscape is becoming significantly intricate. Services are continuously presenting brand-new advantages and payment choices, which contributes to the total intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can cause inadequacies and traffic jams. In my viewpoint, this does not have to hold true. In today's highly sophisticated age, there's no justification for preserving troublesome treatments. Payroll, the business's biggest expenditure, must be processed properly and on time. Even small delays can negatively affect employees' well-being and have significant repercussions. For that reason, it's important to focus on precise and prompt payments.
payroll team get um so I'm not sure anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but eventually payroll is such an important cycle all of us hear 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 think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done correctly so leveraging the very first International Payments first payroll payment option is a great first step um offering an end-to-end payroll solution for your staff members internationally once again I believe is another substantial um process again lining up and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of companies and minimizing the number of tools platforms and savings account they need for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually 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 rather where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand how how important a function it is which'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 everybody that's involved in those procedures and likewise so envision sorry I'm simply I was simply gon na say think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however 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 was the case um you 'd need days of the week to try to look through them and in fact see what was going on and type of shot to return to everybody so proceeding look why do companies pick to primary separate checking account there are businesses out there doing precisely this for specific countries and I have actually operated in an organization or many services doing precisely that I can say it does not constantly feel efficient and it does develop more work I know we're not purposely doing that we're not creating additional work for anyone where we don't have to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think many factors one is it's the standard I think individuals have got so utilized to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I think this is a process that needs taking a look at it requires changing but ultimately individuals are really stuck to what they recognize
with ideal um modification is a tough thing we all do not like modification um so I think it's just sort 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 obviously the advantages of having keeping several bank accounts but there's a substantial amount of complexity goes with setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for individual individuals so the intricacy is huge however I believe the honest response is change um individuals have not been able to change or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is understanding you understand and there is an element of resistance to alter however we have actually 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 know what might almost be figured out to be the next Century or two there is a lot to track and this approach does position numerous difficulties um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I recently made a change 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 actually acquired another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 workers 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 more detailed, considering your accomplishments.
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