Find out more about Papaya Global Remote Jobs ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This offers us with a protected and dependable method of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, conserving me a significant amount of time every month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Worker Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive advantages packages to international staff members regardless of the variety of employees in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source regional advantages suppliers in every nation, produce local accounts and have a minimum variety of workers.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need 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 distributed per location, overall work costs per cycle and a lot more.
environments across the globe I offered management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business managing and structure external relationships supporting Business clients and options along with acting as a consultant for those of you that don't understand who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in offering payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a pleasure to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past seven 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 six years where I have actually kind of had a range of various functions on the company side and likewise on the supplier side from a payroll perspective so really anticipating this discussion today um and yeah thank you quite for your time everybody 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 nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everybody 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 really really dreary and I want I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business preserve separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being 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.
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in adequate in one country however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most importantly policies compliance information security and banking rules then there are the large numbers they include more intricacy the international Labor force is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the world in the traditional payroll design there's often a frustrating variety of different systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or really really fundamental there's no genuine consistency framework we're residing in an age of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind each time I I believe
about it to give 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 sleepless nights and rather frankly the more a service spends on worldwide payroll the less of an image they see an absence of exposure also extends to payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of global services have actually expressed 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 because of time reporting bad HCM information data entry errors inadequately interacted hires and terminations along with lack management and system configurations and after that when you round all of it off and the data is delivered to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they rely on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles company face when they're making payments to employees or otherwise that's a good concern I constantly toss this back and say what is it what doesn't need to be included right and what does
it require to be thought of there's differing 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 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 client's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is definitely vital however everywhere you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is allowing us to sort of progress with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely important that payroll and finance teams work more detailed together than ever um I'm constantly surprised when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on well-being and the payment landscape is becoming progressively intricate. Companies are continuously presenting brand-new benefits and payment options, which adds to the total intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can lead to inadequacies and traffic jams. In my opinion, this does not have to hold true. In today's technically sophisticated era, there's no justification for maintaining cumbersome procedures. Payroll, the company's most significant expenditure, should be processed properly and on time. Even small hold-ups can adversely affect staff members' well-being and have significant consequences. Therefore, it's important to focus on accurate and timely payments.
payroll group get um so I'm not sure anyone on this type of webinar has been informed 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 but ultimately 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 deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment solution is a fantastic initial step um providing an end-to-end payroll service for your staff members globally once again I believe is another huge um procedure again aligning and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of businesses and minimizing the variety of tools platforms and bank accounts they require for their Global 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've never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how crucial 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 simple as possible for everybody that's involved in those processes and also so envision sorry I'm just I was just gon na say think of the amount 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 hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing 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 look through them and in fact see what was going on and kind of shot to return to everyone so proceeding appearance why do companies choose to main separate savings account there are organizations out there doing precisely this for specific countries and I've operated in a company or numerous services doing precisely that I can say it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for any person where we do not need to and any person that's managing that process 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 believe lots of factors one is it's the standard I believe people have got so utilized to we need a brand-new checking account we open an entity and appropriately 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 just been the standard and the norm individuals have adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I believe this is a procedure that requires looking at it requires changing but eventually individuals are extremely stuck with what they're familiar
with ideal um modification is a tough thing we all don't like modification um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having keeping several bank accounts however there's a big amount of intricacy chooses establishing a checking account keeping it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for individual people so the intricacy is big but I believe the honest answer is change um people haven't had the ability to change or haven't had always 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 believe it is understanding you understand and there is an element of resistance to alter but we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century approximately there is a lot to monitor and this technique does position a number of challenges um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you should have a corner office with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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