Find out more about Papaya Global Payroll Paid Time Off ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly committed to handling payments. This provides us with a secure and trusted method of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax statements and work documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to global employees regardless of the number of employees in the business. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source local benefits companies in every nation, develop local accounts and have a minimum variety of workers.
The HR capabilities supplied by Worldwide HR encompass various functions such as monitoring vacation time, guaranteeing compliance, helping with the process of inviting new employees and bidding goodbye to leaving ones, using a protected online platform for storing employees' documents, and providing support for work allow treatments in case your staff members require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, total work costs dispersed per place, total employment expenses per cycle and a lot more.
Internationally, I have shown management and strategic knowledge in guiding massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for managing payroll techniques, as pointed out by Mark. My role involves handling and establishing external partnerships, supporting Business customers, and providing 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 influential business worldwide. We specialize in offering payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's an enjoyment to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have actually always mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of different functions on the service provider side and likewise on the vendor side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everyone another couple 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 fascinating and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody 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 drizzling here it's really extremely uninspiring and I wish I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially beneficial for global companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and prompt payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, learn how companies forecast payroll expenses to enhance working capital, and find how enhancing international payroll payments can change them from a difficult job into a tactical asset.
Handling payroll worldwide is a challenging task due to various regulations, compliance requirements, data security concerns, and banking guidelines. The large variety of workers and organizations adds to the complexity, with an estimated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and a lack of integration, causing disparities and ineffectiveness. Regardless of living in an age of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to offer insights and services to simplify and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more a service spends on global payroll the less of a photo they see a lack of presence likewise reaches payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide companies 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 due to time reporting bad HCM data data entry mistakes improperly interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the information is shipped to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they rely on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're making payments to employees or otherwise that's a great concern I always throw this back and state what is it what does not need to be included right and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity any place you look ideal ultimately constructing a knowledge base is definitely important 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 look at the sort 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 definitely essential and technology is enabling us to kind of progress with that it also also to contribute to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work better together than ever um I'm constantly surprised when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate 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 often split and cut up um ultimately it's payroll is an end-to-end process 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 contemporary world places a high value on wellness and the payment landscape is becoming progressively detailed. Organizations are continuously presenting brand-new benefits and payment alternatives, which adds to the general complexity. Big corporations often divide their payroll and payment processing into separate teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this does not need to hold true. In today's highly advanced age, there's no validation for maintaining cumbersome procedures. Payroll, the business's most significant expense, should be processed properly and on time. Even small delays can negatively impact workers' wellness and have far-reaching effects. For that reason, it's critical to prioritize accurate and prompt payments.
payroll group get um so I'm unsure anyone on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an important cycle we all hear about it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment service is an excellent initial step um offering an end-to-end payroll solution for your employees globally once again I believe is another huge um process once again aligning and ensuring you have standardization Global procedures all of those things are definitely crucial to success success of organizations and minimizing the variety of tools platforms and bank accounts they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone rather where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how crucial a role 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 involved in those procedures and likewise so picture sorry I'm just I was just gon na say imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions envision getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and really see what was going on and type of try to get back to everyone so carrying on appearance why do companies select to main separate checking account there are businesses out there doing precisely this for specific countries and I've operated in an organization or lots of services doing exactly that I can say it doesn't always feel efficient and it does produce more work I know we're not intentionally doing that we're not developing additional work for anyone where we don't have to and anybody that's managing that process 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 believe many factors one is it's the standard I believe individuals have actually got so utilized to we require a brand-new savings account we open an entity and appropriately 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 just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I believe this is a process that needs looking at it requires altering but ultimately people are very stuck with what they recognize
with right um modification is a hard thing all of us do not like change um so I think it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having preserving numerous savings account but there's a substantial quantity of complexity goes with establishing a checking account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for private people so the intricacy is substantial however I believe the honest response is change um people haven't been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could practically be figured out to be the next Century or two there is a lot to track and this technique does position several obstacles um so Johnny could you inform us about those challenges yeah obviously so there's a range right there is so
I simply did you switched 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 Worldwide staff members you should have a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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