Find out more about Papaya Global Payroll Vacation ... 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 specifically devoted to handling payments. This supplies us with a safe and secure and reputable method of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Employee Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive benefits bundles to worldwide staff members despite the number of employees in the business. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local benefits suppliers in every country, produce local accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment expenses distributed per location, overall work costs per cycle and much more.
Internationally, I have demonstrated management and strategic know-how in assisting large-scale populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function involves managing 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 solutions provider.
business to make the time 100 list for a lot of prominent companies on the planet we provide payroll payments and labor force management to all staff member enters over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon excellent night depending upon where you are in the world it's charming to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've sort of had a variety of different roles on the company side and likewise on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everybody another couple of uh well one of 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 quite intriguing and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everybody comes from and I truly 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 raining here it's really really dreary and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies maintain separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a strategic possession uh we'll likewise discuss a wrap-up and that needs to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being a growing number of common and managing them ends up being a growing number of intricate Worldwide organizations are aiming to find Solutions and brand-new methods to simplify processes specifically from a payroll and cross-border payment perspective many companies keep separate bank account just for payroll while some have several accounts in different countries does it make sense for business to keep different savings account in some cases in various countries it does however just for payroll exists a better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business enhance the episode complex processes of
Making sure accurate, efficient, and prompt payroll payments is a complex difficulty for companies running worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, learn how business anticipate payroll costs to optimize working capital, and discover how streamlining global payroll payments can transform them from a difficult job into a tactical property.
Managing payroll worldwide is a complicated task due to different regulations, compliance requirements, information security concerns, and banking guidelines. The sheer variety of employees and companies contributes to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems frequently lead to manual processes, information silos, and a lack of combination, leading to disparities and ineffectiveness. Regardless of living in an era of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to offer insights and services to simplify and optimize global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more a company spends on worldwide payroll the less of a picture they see a lack of presence also reaches payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of global companies have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors improperly communicated hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is delivered to the incorrect location 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 cash around the globe payroll and payments do not run efficiently if they depend on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges company face when they're paying to employees or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't need to be consisted of best and what does
it require to be considered there's varying 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 abilities 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 customer's own in-country account so there's intricacy wherever you look right eventually building a knowledge base is definitely critical but all over you look with payroll payment they resemble extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link 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 allowing us to sort of move on with that it also also to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm constantly impressed when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from computation 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 likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on well-being and the settlement landscape is ending up being increasingly intricate. Companies are continually introducing new advantages and payment options, which adds to the general complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can result in inadequacies and traffic jams. In my viewpoint, this does not have to hold true. In today's technologically advanced period, there's no validation for preserving troublesome procedures. Payroll, the company's biggest expenditure, need to be processed properly and on time. Even minor delays can negatively impact staff members' wellness and have significant consequences. Therefore, it's vital to prioritize precise and prompt payments.
payroll team get um so I'm not exactly sure anyone on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle we all find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe 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 things is definitely vital that all of this things is done properly so leveraging the very first International Payments very first payroll payment option is a fantastic primary step um supplying an end-to-end payroll solution for your staff members worldwide again I think is another big um procedure again lining up and ensuring you have standardization Global processes all of those things are absolutely essential to success success of companies and decreasing the variety of tools platforms and savings account they need for their Worldwide 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 do not expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone rather where they're implied to be um I do not believe any of us are actually doing that for for the thanks
anyway we know how how important a role 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 everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was simply gon na say envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that lots of thank you keeps in mind um I suggest 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 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 in fact see what was going on and kind of try to get back to everyone so carrying on appearance why do companies select to main different checking account there are businesses out there doing exactly this for specific nations and I have actually worked in a company or many services doing exactly that I can say it doesn't constantly feel effective and it does produce more work I know we're not deliberately doing that we're not producing extra work for anyone where we do not need to and anybody that's managing that procedure 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 think numerous factors one is it's the requirement I believe individuals have actually got so used to we need a brand-new checking 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 think it's simply been the standard and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and many 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 really stuck to what they're familiar
with best um change is a hard thing all of us do not like change um so I believe it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having preserving several bank accounts but there's a big quantity of intricacy chooses establishing a bank account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for private individuals so the complexity is huge but I think the sincere answer is modification um people haven't had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might almost be figured out to be the next Century or so there is a lot to monitor and this technique does pose several obstacles um so Johnny might you inform us about those difficulties yeah obviously so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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