Find out more about Papaya Global South Korea ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly dedicated to managing payments. This supplies us with a secure and dependable approach of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app streamlines my payroll procedure, conserving me a considerable amount of time each month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Staff member Portal
Employees have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive advantages bundles to worldwide workers regardless of the number of employees in the business. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source regional benefits companies in every country, develop regional accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, total employment costs distributed per place, total employment expenses per cycle and much more.
Globally, I have shown management and strategic expertise in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for managing payroll methods, as mentioned by Mark. My role involves handling and establishing external collaborations, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for the majority of prominent business worldwide we provide payroll payments and workforce management to all worker key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great night depending upon where you are in the world it's lovely to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've kind of had a variety of various functions on the company side and also on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everyone another number of uh well one of 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 quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very really bleak and I wish I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies preserve separate
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will likewise offer a recap 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 difficulty for companies operating internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, find out how business anticipate payroll expenses to enhance working capital, and discover how simplifying worldwide payroll payments can transform them from a burdensome job into a strategic possession.
Handling payroll globally is a daunting task due to different regulations, compliance requirements, information security concerns, and banking guidelines. The large variety of workers and organizations adds to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems often lead to manual procedures, data silos, and an absence of integration, resulting in disparities and inadequacies. In spite of living in an age of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to supply insights and options to simplify and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more a business spends on worldwide payroll the less of a picture they see an absence of visibility also encompasses payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide businesses have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes inadequately interacted hires and terminations as well as absence management and system configurations and then when you round everything off and the data is delivered to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they count on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties company face when they're paying to employees or otherwise that's an excellent question I always toss this back and say what is it what doesn't require to be consisted of right and what does
it require to be thought of there's varying Bank details 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 need to pay from the customer's own in-country account so there's intricacy any place you look best ultimately developing a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble very 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 essential and innovation is allowing us to sort of move on with that it also as well to add to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely vital that payroll and finance groups work more detailed together than ever um I'm always astonished when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide 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 data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on well-being and the payment landscape is ending up being progressively complex. Companies are continuously presenting new benefits and payment choices, which adds to the general intricacy. Big corporations often divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to hold true. In today's technologically innovative era, there's no validation for keeping cumbersome procedures. Payroll, the company's biggest expenditure, should be processed correctly and on time. Even small hold-ups can negatively affect workers' well-being and have far-reaching effects. Therefore, it's important to focus on precise and prompt payments.
payroll team get um so I'm unsure anybody on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle all of us hear about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is a fantastic initial step um providing an end-to-end payroll option for your workers worldwide again I believe is another huge um process once again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely crucial to success success of businesses and decreasing the variety of tools platforms and bank accounts they need 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've never had a hundred thousand of 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 problems where things haven't gone quite where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyway we understand how how essential 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 easy as possible for everybody that's involved in those procedures and also so envision sorry I'm just I was simply gon na state envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions think of getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and type of try to return to everybody so carrying on look why do companies select to primary separate checking account there are businesses out there doing exactly this for specific countries and I have actually operated in a company or many businesses doing exactly that I can say it does not constantly feel effective and it does develop more work I know we're not purposely doing that we're not creating extra work for any person where we don't have to and any person 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 believe many factors one is it's the requirement I believe individuals have actually got so utilized to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I think this is a procedure that needs taking a look at it needs altering but eventually individuals are really stuck with what they recognize
with right um modification is a tough thing all of us don't like change um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having maintaining numerous checking account however there's a substantial quantity of complexity opts for establishing a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for specific individuals so the intricacy is substantial but I believe the truthful answer is modification um people haven't had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I think it is understanding you know and there is a component of resistance to alter however we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century or so there is a lot to keep track of and this method does position a number of obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you should have a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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