Find out more about Papaya Global Payroll Twitter ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and trustworthy approach of paying to our 10,000 workers worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, conserving me a considerable amount of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Staff member Website
Employees have access to a Worker Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to international staff members no matter the number of workers in the business. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local advantages service providers in every country, create regional accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, overall work costs dispersed per place, overall work costs per cycle and far more.
Internationally, I have shown management and tactical competence in directing massive populations of over 100,000 staff members throughout 170 nations. Presently, I am responsible for supervising payroll strategies, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Enterprise customers, and supplying 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 consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on supplying payroll and labor force management services to staff members 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 location. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually type of had a range of various roles on the supplier side and likewise on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to sort 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 drizzling here it's extremely really bleak and I want I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Global payroll payments as a tactical asset uh we'll also discuss a wrap-up which ought to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become increasingly more typical and handling them becomes a growing number of complicated Worldwide organizations are wanting to find Solutions and brand-new ways to enhance processes particularly from a payroll and cross-border payment viewpoint numerous companies preserve separate savings account just for payroll while some have numerous accounts in different nations does it make sense for business to maintain separate checking account often in different countries it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies improve the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for services running globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how business forecast payroll costs to enhance working capital, and find how improving worldwide payroll payments can transform them from a difficult task into a strategic asset.
Managing payroll globally is an overwhelming task due to numerous policies, compliance requirements, information security concerns, and banking rules. The large variety of workers and businesses adds to the intricacy, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems often lead to manual processes, information silos, and a lack of integration, causing disparities and inadequacies. Regardless of living in an era of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to provide insights and solutions to streamline and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that offers me sleepless nights and rather frankly the more a service spends on global payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of global organizations have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes badly communicated hires and terminations in addition to lack management and system configurations and then when you round all of it off and the information is delivered to the incorrect place the typical expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the necessary several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're paying to employees or otherwise that's an excellent question I always toss this back and state what is it what does not require to be included ideal and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer'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 are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the kind 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 type of move forward with that it also too to add to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely imperative that payroll and financing teams 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 does not operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on well-being and the payment landscape is ending up being progressively elaborate. Organizations are continually introducing new advantages and payment options, which contributes to the general complexity. Large corporations frequently divide their payroll and payment processing into separate groups, which can lead to inefficiencies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's highly advanced period, there's no validation for preserving troublesome treatments. Payroll, the company's greatest cost, should be processed correctly and on time. Even small delays can negatively impact workers' well-being and have far-reaching effects. Therefore, it's crucial to focus on precise and timely payments.
payroll team get um so I'm not exactly sure anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment option is a great first step um providing an end-to-end payroll option for your employees worldwide once again I believe is another substantial um procedure once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely crucial to success success of companies and minimizing the number of tools platforms and bank accounts they require for their International payroll too couldn't 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 thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyway we know how how important 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 simple as possible for everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and actually see what was going on and sort of shot to return to everybody so proceeding appearance why do business pick to main different savings account there are services out there doing precisely this for specific countries and I have actually operated in a business or many businesses doing exactly that I can state it does not always feel effective and it does develop more work I know we're not intentionally doing that we're not developing additional work for any person where we do not need to and anyone that's handling 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 quantity that we are I think numerous reasons one is it's the standard I think people have actually got so utilized to we need a new savings account we open an entity and rightly so you need 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 standard and the norm the people have embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I think this is a process that requires looking at it requires changing but eventually people are really stuck with what they're familiar
with ideal um modification is a challenging thing we all do not like modification um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having maintaining multiple bank accounts however there's a substantial amount of intricacy opts for establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is big but I think the sincere answer is modification um individuals haven't been able to change or have not had always the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be identified to be the next Century or two there is a lot to monitor and this technique does position several difficulties um so Johnny could you inform 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 seems like our CFO has actually gotten another CFO, and with this improved ability, I have effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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