Find out more about Papaya Global Payroll Hiring ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and dependable method of paying to our 10,000 employees worldwide.}
The advanced worldwide payroll management app simplifies my payroll process, conserving me a considerable amount of time monthly. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Staff member Website
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive benefits bundles to global workers regardless of the variety of workers in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source local benefits suppliers in every nation, develop local accounts and have a minimum number of staff members.
The HR abilities offered by International HR include various functions such as keeping track of holiday time, guaranteeing compliance, facilitating the procedure of inviting new workers and bidding farewell to leaving ones, providing a protected online platform for keeping workers' documents, and offering support for work permit treatments in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, total work costs dispersed per location, overall work costs per cycle and far more.
Internationally, I have shown leadership and tactical knowledge in directing massive populations of over 100,000 staff members across 170 nations. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function includes handling and developing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We focus on offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have focused on payroll and payment services for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually kind of had a range of different functions on the company side and likewise on the vendor side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating 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 everyone originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very very uninspiring and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies preserve different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is especially useful for international organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of keeping different savings account for payroll in different 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 becoming a strategic asset for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how business forecast payroll expenses to enhance working capital, and discover how enhancing global payroll payments can change them from a difficult job into a tactical possession.
Handling payroll worldwide is a difficult job due to numerous regulations, compliance requirements, data security concerns, and banking rules. The large number of staff members and companies adds to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems typically result in manual procedures, data silos, and an absence of combination, resulting in inconsistencies and inadequacies. Regardless of residing in an era of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to supply insights and solutions to simplify and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more a company spends on worldwide payroll the less of an image they see an absence of visibility also reaches payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the transaction nearly half of worldwide services have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes poorly interacted hires and terminations along with lack management and system configurations and after that when you round all of it off and the information is shipped to the incorrect place the typical cost 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 around the world payroll and payments do not run efficiently if they depend on the necessary numerous processes 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 difficulties organization face when they're making payments to employees or otherwise that's a great concern I always toss this back and say what is it what does not require to be consisted of right 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 country 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 client's own in-country account so there's complexity wherever you look best ultimately building a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type 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 kind of move on with that it also too to add to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely crucial that payroll and financing teams work more detailed together than ever um I'm always impressed when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation 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 often 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 anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more essential to contribute to kind of the level of complexity there's a growing number of benefits being organ or being offered by services throughout the world so once again you're simply aiming to include increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine challenges or genuine difficult kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would definitely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in a period of tech and an era that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any organization has from an expense perspective from an effect perspective on staff members it is definitely important that it's done correctly and on time so what we imply 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 effect on individuals's wellness and numerous other aspects if individuals aren't paid uh I've always been impressed coming into this Market type of the last five to ten years is how little thanks the
The payroll group may not have been thanked for properly 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 workers or not. Payroll is an essential cycle, and people only see when things go wrong. However, when things go right, it's seen as just a routine job. This is how it's perceived externally too. For that reason, it is important to ensure that tasks like Wi-Fi Global and other essential matters are done properly. Utilizing the very first Worldwide Payments first payroll payment option is a great initial step towards providing a thorough payroll solution for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and checking account needed for global payroll are key factors in attaining business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyway we know how how essential 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 easy as possible for everybody that's associated with those procedures and also so think of sorry I'm just I was just gon na say envision 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 speaking about numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and kind of try to return to everyone so moving on look why do companies select to main different bank accounts there are services out there doing exactly this for specific nations and I've worked in a company or numerous organizations doing exactly that I can state it doesn't constantly feel effective and it does develop more work I know we're not intentionally doing that we're not producing additional work for anyone where we don't need to and anyone that's managing 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 people have actually got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs looking at it requires changing however ultimately people are extremely stuck with what they recognize
with right um change is a tough thing we all do not like modification um so I believe it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having keeping several checking account but there's a big amount of complexity chooses setting up a checking account maintaining it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for specific people so the intricacy is huge however I think the honest answer is modification um individuals have not had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century approximately there is a lot to keep an eye on and this technique does posture numerous difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles 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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