Find out more about Papaya Global Payroll Tutorial ... 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 acquired a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a secure and trusted method of paying to our 10,000 employees worldwide.}
The cutting-edge international payroll management app enhances my payroll procedure, saving me a significant amount of time every month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Worker Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and work files. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive benefits bundles to international staff members despite the number of staff members in the company. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source regional benefits suppliers in every country, produce local accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total work costs distributed per location, overall employment costs per cycle and far more.
Globally, I have demonstrated management and tactical competence in guiding large-scale populations of over 100,000 workers across 170 nations. Presently, I are accountable for overseeing payroll methods, as pointed out by Mark. My role includes handling and developing external collaborations, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a satisfaction to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment services for the past seven years. The complexities and difficulties of this field have actually always mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I have actually sort of had a variety of various functions on the supplier side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite 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 originates from and I truly 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 very very dreary and I want I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies keep separate
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of preserving different bank accounts for payroll in various nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex obstacle for companies operating globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to enhance working capital, and find how simplifying global payroll payments can transform them from a challenging job into a tactical asset.
Handling payroll globally is an overwhelming task due to different policies, compliance requirements, data security concerns, and banking guidelines. The sheer variety of staff members and services contributes to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual procedures, information silos, and a lack of combination, resulting in inconsistencies and inefficiencies. In spite of residing in an age of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to provide insights and services to simplify and optimize global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization invests in global payroll the less of an image they see a lack of exposure also encompasses payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of worldwide businesses have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors poorly interacted hires and terminations along with absence management and system setups and then when you round everything off and the data is shipped to the incorrect location 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 money all over the world payroll and payments do not run efficiently if they rely on the essential several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles business face when they're making payments 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 included right and what does
it need to be thought of there's differing Bank information 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 have to pay from the client's own in-country account so there's intricacy anywhere you look ideal ultimately building a knowledge base is absolutely crucial however all over you look with payroll payment they are like very 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 permitting us to kind of progress 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 absolutely necessary that payroll and finance teams work better together than ever um I'm constantly amazed when individuals say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate 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 frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on well-being and the settlement landscape is ending up being increasingly complex. Services are continuously introducing new benefits and payment options, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's highly advanced period, there's no justification for preserving troublesome treatments. Payroll, the company's biggest cost, should be processed correctly and on time. Even slight hold-ups can adversely impact employees' wellness and have far-reaching repercussions. For that reason, it's crucial to focus on accurate and prompt payments.
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody 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 go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's viewed externally also. Therefore, it is necessary to ensure that jobs like Wi-Fi Worldwide and other important matters are done properly. Utilizing the very first Global Payments first payroll payment option is a great initial action towards supplying a detailed payroll solution for workers worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and bank accounts needed for global payroll are essential factors in attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things don't go as planned. Eventually, we don't do it for the appreciation.
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 easy as possible for everybody that's associated with those processes and also so picture sorry I'm simply I was simply gon na say think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and type of shot to return to everybody so moving on appearance why do business choose to main different savings account there are companies out there doing exactly this for specific nations and I've operated in a service or lots of organizations doing exactly that I can state it does not constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing extra work for any person where we do not need to and anybody that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think lots of reasons one is it's the requirement I think individuals have got so used to we need a new savings account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I think this is a process that requires taking a look at it needs altering however ultimately people are really stuck with what they recognize
with ideal um modification is a tough thing all of us don't like modification um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the advantages of having maintaining numerous bank accounts however there's a substantial amount of intricacy goes with setting up a checking account maintaining it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for individual people so the complexity is substantial but I believe the honest answer is change um individuals haven't had the ability to alter or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what could almost be determined to be the next Century approximately there is a lot to keep an eye on and this method does pose numerous obstacles um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.
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