Find out more about Papaya Global Us ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and secure and trustworthy method of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Staff member Website
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and work documents. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive benefits packages to worldwide workers regardless of the variety of staff members in the company. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local benefits suppliers in every country, produce regional accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities 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 provides you insights into workforce spending, labor force diversity, total work costs dispersed per place, overall work expenses per cycle and far more.
Internationally, I have demonstrated management and tactical knowledge in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Presently, I am responsible for managing payroll methods, as discussed by Mark. My role involves handling and developing external partnerships, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce 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 company. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The intricacies and challenges of this field have always mesmerized me.
payroll payments and decided to type 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 functions on the service provider side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely extremely dreary and I wish I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a tactical possession uh we'll also discuss a recap and that should leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more common and handling them ends up being increasingly more complicated Global companies are wanting to find Solutions and brand-new methods to enhance processes specifically from a payroll and cross-border payment viewpoint numerous companies keep separate savings account just for payroll while some have numerous accounts in different countries does it make good sense for business to maintain different bank accounts sometimes in various countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies simplify the episode complex procedures of
Ensuring precise, efficient, and timely payroll payments is a complex challenge for businesses operating worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, find out how business forecast payroll expenses to enhance working capital, and find how streamlining international payroll payments can transform them from a burdensome job into a tactical asset.
Handling payroll internationally is an overwhelming job due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The large number of workers and companies adds to the complexity, with an approximated 3.5 billion people in the international labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual procedures, information silos, and an absence of integration, leading to disparities and ineffectiveness. In spite of residing in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to provide insights and options to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more an organization invests in international payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of international companies have actually revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors poorly interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is shipped to the wrong place the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they depend on the necessary 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 difficulties service face when they're making payments to employees or otherwise that's a good concern I constantly throw this back and say what is it what doesn't need to be consisted of right and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 consumer's own in-country account so there's intricacy wherever you look ideal ultimately building a knowledge base is definitely important however all over you look with payroll payment they resemble 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 definitely essential and technology is permitting us to sort of progress with that it also also to contribute to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely vital that payroll and finance groups work better together than ever um I'm constantly surprised when people state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically 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 wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on well-being and the compensation landscape is becoming increasingly elaborate. Organizations are continually introducing brand-new benefits and payment alternatives, which adds to the general complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn't need to hold true. In today's technically innovative period, there's no validation for preserving cumbersome procedures. Payroll, the business's biggest expense, should be processed correctly and on time. Even small hold-ups can adversely affect workers' well-being and have significant consequences. Therefore, it's crucial to prioritize accurate and timely payments.
The payroll group might not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just observe when things go wrong. However, when things go right, it's seen as just a routine task. This is how it's perceived externally as well. Therefore, it is necessary to ensure that tasks like Wi-Fi Global and other vital matters are done properly. Utilizing the first International Payments very first payroll payment option is an excellent initial step towards providing a thorough payroll option for workers worldwide. Standardization, international procedures, and minimizing the number of tools, platforms, and savings account essential for international payroll are crucial consider attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things do not go as prepared. Eventually, we do not do it for the appreciation.
anyhow we understand how how important 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 simple as possible for everybody that's involved in those procedures and likewise so picture sorry I'm simply I was just gon na say think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and sort of try to return to everyone so proceeding appearance why do companies choose to primary different bank accounts there are companies out there doing precisely this for particular nations and I've worked in a service or numerous businesses doing precisely that I can say it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not developing extra work for any person where we don't have to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the requirement I think people have actually got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I think this is a process that needs looking at it requires changing but eventually individuals are extremely stuck to what they're familiar
with right um change is a challenging thing all of us don't like change um so I believe it's simply 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 understand clearly the advantages of having maintaining numerous bank accounts however there's a huge amount of intricacy chooses establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for private people so the complexity is big but I think the sincere response is modification um people haven't had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century or two there is a lot to keep an eye on and this approach does posture a number of challenges um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I just did you switched our Business 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 staff members you are worthy of a corner office with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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