Find out more about Papaya Global Payroll Tax Filings ... 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 acquired a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and dependable technique of making payments to our 10,000 staff members worldwide.}
The innovative international payroll management app streamlines my payroll procedure, saving me a substantial quantity of time every month. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Staff member Portal
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work files. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive benefits packages to global staff members regardless of the variety of staff members in the business. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source local benefits suppliers in every country, create regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, overall employment costs dispersed per location, total work costs per cycle and a lot more.
Internationally, I have demonstrated management and strategic competence in guiding large-scale populations of over 100,000 employees across 170 countries. Currently, I are accountable for supervising payroll methods, as pointed out by Mark. My function includes handling and establishing external partnerships, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As an international company, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We focus on supplying payroll and labor force management services to employees 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, no matter your place. It's an enjoyment 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 years of experience in the payments industry, I have focused on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of various functions on the service provider side and likewise on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very uninspiring and I want I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Global payroll payments as a tactical possession uh we'll also go over a wrap-up and that should leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more typical and handling them ends up being more and more complex International organizations are wanting to discover Solutions and new ways to streamline processes particularly from a payroll and cross-border payment perspective many organizations keep different savings account just for payroll while some have numerous accounts in different nations does it make good sense for business to preserve different checking account sometimes in various countries it does however just for payroll is there a better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business streamline the episode complex procedures of
Guaranteeing precise, efficient, and timely payroll payments is a complex obstacle for companies running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll expenses to enhance working capital, and find how enhancing global payroll payments can transform them from a troublesome job into a tactical property.
Managing payroll globally is a complicated task due to numerous policies, compliance requirements, information security issues, and banking guidelines. The large number of staff members and companies adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently lead to manual procedures, information silos, and a lack of combination, resulting in disparities and ineffectiveness. In spite of residing in a period of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to offer insights and options to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that offers me sleepless nights and rather honestly the more a company spends on international payroll the less of an image they see a lack of visibility likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction almost half of global organizations have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes inadequately interacted hires and terminations as well as absence management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the required numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't require to be included right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 intricacy any place you look best eventually constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble 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 recognition that payroll payments are absolutely fundamental and technology is allowing us to kind of move on with that it also also to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm always impressed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually 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 however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more important to add to sort of the level of complexity there's a growing number of advantages being organ or being provided by services throughout the world so once again you're just seeking to add more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine obstacles or genuine tough sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would absolutely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding info into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to create additional handoffs at the same times 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 an age of tech and an era that you understand that we are operating in today there is no reason why we are still making this as tough as it needs to be concurred and appropriately as you said payroll is the single biggest liability that any business has from an expense point of view from an impact perspective on staff members it is absolutely vital that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging result on people's well-being and lots of other elements if individuals aren't paid uh I've always been amazed entering into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment option is an excellent primary step um providing an end-to-end payroll service for your workers internationally once again I believe is another substantial um procedure again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of companies and lowering the variety of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in regards to 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 five or 10 or whatever it might be with the with the the problems where things have not gone quite where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyhow we understand how how essential a function 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 simple as possible for everyone that's associated with those processes and also so picture sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions picture getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting task trying 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 try to check out them and actually see what was going on and sort of try to return to everyone so carrying on appearance why do companies pick to main different bank accounts there are services out there doing precisely this for particular nations and I've worked in a service or many services doing exactly that I can say it does not constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not producing additional work for anyone where we don't have to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of factors one is it's the requirement I believe people have got so used to we require a new checking 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 simply been the standard and the norm individuals have embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs changing but eventually individuals are very stuck to what they recognize
with best um change is a difficult thing we all don't like modification um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having preserving multiple checking account but there's a huge quantity of complexity chooses establishing a savings account preserving it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for individual people so the complexity is huge however I believe the sincere response is modification um individuals have not been able to alter or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we have actually constantly 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 practically be determined to be the next Century or so there is a lot to keep an eye on and this technique does pose numerous obstacles um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your accomplishments.
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