Find out more about Papaya Global Payroll Pronunciation ... We now have the ability to handle 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 committed to managing payments. This supplies us with a safe and secure and reliable method of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Worker Portal supplies staff members with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global helps companies offer competitive advantages bundles to global staff members regardless of the number of workers in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages companies in every nation, develop local accounts and have a minimum variety of workers.
The HR capabilities supplied by Worldwide HR incorporate numerous functions such as keeping track of getaway time, ensuring compliance, facilitating the procedure of welcoming brand-new employees and bidding farewell to leaving ones, offering a protected online platform for storing employees' files, and providing support for work permit procedures in case your workers need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall employment expenses distributed per area, overall employment expenses per cycle and a lot more.
Globally, I have shown leadership and tactical proficiency in directing large-scale populations of over 100,000 staff members across 170 nations. Currently, I am responsible for supervising payroll methods, as pointed out by Mark. My role includes managing and establishing external collaborations, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a global company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We specialize in offering payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite 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 organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've kind of had a variety of different functions on the service provider side and also on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to kind 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 sunshine is it it's not no it's it's drizzling here it's extremely extremely bleak and I wish 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 obstacle years of handling International payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly beneficial for international organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining separate checking account for payroll in different countries, virtual accounts and digital wallets use 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 tactical possession 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 payroll payments accurately effectively firmly and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in adequate in one nation but when you're doing it internationally it's next level and Beyond it becomes complex for a variety of factors most notably guidelines compliance data security and banking rules then there are the large numbers they include further intricacy the international Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll design there's frequently a frustrating variety of different systems resulting in lengthy manual procedures and silos the variety of Integrations could be non-existent in big amounts and or really really basic there's no real consistency structure we're residing in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that offers me sleepless nights and quite honestly the more a company invests in global payroll the less of an image they see a lack of presence likewise encompasses payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the transaction nearly half of international businesses have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes improperly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the information is delivered to the wrong location the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they rely on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're making payments to staff members or otherwise that's a great concern 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 about there's differing 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 have to pay from the consumer's own in-country account so there's complexity any place you look right eventually building a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble incredibly payments no if but some infants 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 acknowledgment that payroll payments are absolutely basic and innovation is allowing us to sort of move forward with that it also also to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work closer together than ever um I'm always surprised when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation 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 process it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on well-being and the payment landscape is becoming significantly detailed. Services are continuously introducing brand-new benefits and payment options, which adds to the overall intricacy. Large corporations often divide their payroll and payment processing into different groups, which can lead to inadequacies and bottlenecks. In my viewpoint, this does not need to be the case. In today's technically advanced age, there's no validation for keeping cumbersome treatments. Payroll, the business's greatest cost, should be processed properly and on time. Even slight hold-ups can negatively affect employees' well-being and have far-reaching repercussions. For that reason, it's vital to focus on precise and prompt payments.
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has 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 just notice when things fail. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally as well. For that reason, it is important to make sure that tasks like Wi-Fi Global and other essential matters are done correctly. Utilizing the very first Global Payments very first payroll payment option is a terrific initial action towards providing an extensive payroll option for workers worldwide. Standardization, global processes, and decreasing the number of tools, platforms, and bank accounts essential for worldwide payroll are key consider accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things do not go as prepared. Eventually, we don't do it for the appreciation.
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 processes and likewise so imagine sorry I'm simply I was just gon na state envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true 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 get back to everybody so carrying on appearance why do business choose to main different savings account there are services out there doing precisely this for specific countries and I have actually worked in a company or lots of services doing exactly that I can state it does not always feel efficient and it does create more work I know we're not purposely doing that we're not creating additional work for anyone where we do not need to and anyone that's managing 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 quantity that we are I believe numerous reasons one is it's the requirement I think individuals have got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires altering but eventually people are very stuck with what they're familiar
with best um modification is a hard thing we all don't like change um so I think it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having preserving several checking account but there's a big quantity of intricacy opts for establishing a bank account preserving it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for individual people so the intricacy is huge but I think the honest response is modification um people haven't been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you've struck the nail on the head I think it is knowledge you know 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 proceeding and moving into you understand what could practically be figured out to be the next Century or two there is a lot to monitor and this method does pose several difficulties um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I simply did you switched our Business 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 deserve a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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