Find out more about Papaya Global Payroll Vs Square Payroll ... 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 actually acquired a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a secure and reliable technique of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and contractors
The Employee Portal provides workers with the ability to access and view essential files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global assists companies provide competitive advantages plans to worldwide workers despite the variety of employees in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source regional benefits suppliers in every country, develop local accounts and have a minimum variety of staff members.
The HR abilities offered by International HR include various functions such as keeping track of holiday time, guaranteeing compliance, facilitating the procedure of inviting brand-new staff members and bidding goodbye to departing ones, providing a safe and secure online platform for keeping workers' documents, and supplying assistance for work allow treatments in case your staff members need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall work expenses distributed per place, overall work expenses per cycle and much more.
Globally, I have demonstrated management and strategic proficiency in directing massive populations of over 100,000 workers throughout 170 nations. Currently, I am responsible for managing payroll strategies, as pointed out by Mark. My function includes managing and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment 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 decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have actually always mesmerized me.
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually type of had a variety of different roles on the company side and also on the vendor side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely very dreary and I want I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why business keep different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex difficulty for services operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, find out how business forecast payroll expenses to enhance working capital, and discover how streamlining international payroll payments can transform them from a burdensome task into a strategic possession.
Handling payroll internationally is a daunting task due to various regulations, compliance requirements, information security concerns, and banking guidelines. The sheer number of employees and businesses adds to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual procedures, data silos, and an absence of integration, leading to disparities and inadequacies. Regardless of living in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to provide insights and services to streamline and optimize international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization spends on international payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide organizations 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 errors are due to time reporting poor HCM data data entry errors poorly communicated hires and terminations along with lack management and system configurations and after that when you round it all off and the information is delivered to the wrong place the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they depend on the necessary multiple processes 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 difficulties service face when they're paying to staff members or otherwise that's a good question I always throw this back and say what is it what doesn't require to be included ideal and what does
it need 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 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 customer's own in-country account so there's complexity wherever you look ideal eventually constructing a knowledge base is absolutely important but all over you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind of link 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 sort of progress with that it likewise too to add to that payroll and financing require to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely vital that payroll and financing teams work better together than ever um I'm constantly surprised when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate 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 typically split and cut up um ultimately it's payroll is an end-to-end procedure 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 3rd parties so with the
The modern-day world places a high value on wellness and the compensation landscape is ending up being increasingly intricate. Companies are continuously presenting brand-new benefits and payment alternatives, which contributes to the total intricacy. Big corporations frequently divide their payroll and payment processing into separate teams, which can result in inadequacies and bottlenecks. In my opinion, this doesn't need to be the case. In today's highly innovative period, there's no justification for maintaining troublesome procedures. Payroll, the business's most significant cost, must be processed properly and on time. Even slight hold-ups can negatively affect staff members' well-being and have significant effects. Therefore, it's vital to focus on accurate and prompt payments.
payroll team get um so I'm unsure anybody on this sort of webinar has 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 staff members or not um but ultimately payroll is such a crucial 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is a great primary step um offering an end-to-end payroll solution for your workers internationally once again I think is another big um procedure again lining up and ensuring you have standardization International procedures all of those things are absolutely key to success success of services and lowering the number 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 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 don't anticipate 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 quite where they're suggested to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand how how crucial 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 easy as possible for everyone that's associated with those procedures and likewise so think of sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and really see what was going on and sort of try to return to everybody so carrying on look why do business select to primary different checking account there are companies out there doing precisely this for specific countries and I have actually worked in a business or lots of businesses doing exactly that I can state it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not developing extra work for any person where we don't need to and anybody that's managing 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 many reasons one is it's the standard I believe people have got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that individuals 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 think this is a process that requires taking a look at it needs altering but ultimately people are very stuck with what they recognize
with right um modification is a difficult thing all of us do not like change um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having keeping several bank accounts but there's a big quantity of intricacy opts for establishing a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private individuals so the complexity is big but I think the truthful response is change um individuals haven't been able to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might practically be figured out to be the next Century or so there is a lot to monitor and this technique does posture several difficulties um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this boosted ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is better, considering your achievements.
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