Find out more about Papaya Global Wa Salary ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and reputable technique of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, saving me a significant quantity of time each month. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Employee Portal
Workers have access to an Employee Portal where they can view their pay slips, wage and tax statements and employment documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to worldwide staff members despite the number of employees in the business. The company can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source regional benefits providers in every nation, develop regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total employment expenses distributed per place, total employment costs per cycle and a lot more.
Globally, I have demonstrated management and tactical know-how in directing massive populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for overseeing payroll methods, as discussed by Mark. My role involves handling and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for most prominent companies in the world we provide payroll payments and workforce management to all worker key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon excellent evening depending upon where you remain in the world it's charming to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was interested by the complexity the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually sort of had a range of different roles on the supplier side and also on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or two 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 just to hear where everybody is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it is 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 bleak and I want I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies maintain different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll also go over a recap and that needs to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being increasingly more common and managing them becomes increasingly more complicated Global organizations are wanting to discover Solutions and new ways to enhance processes particularly from a payroll and cross-border payment viewpoint lots of companies preserve separate savings account just for payroll while some have multiple accounts in different nations does it make good sense for business to maintain separate bank accounts sometimes in various nations it does but just for payroll is there a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational business simplify the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex challenge for companies operating worldwide. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, find out how business forecast payroll costs to optimize working capital, and discover how improving international payroll payments can transform them from a troublesome job into a tactical possession.
Managing payroll worldwide is a daunting task due to different regulations, compliance requirements, data security issues, and banking rules. The large variety of workers and services contributes to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently result in manual processes, information silos, and a lack of integration, leading to inconsistencies and ineffectiveness. In spite of residing in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to provide insights and options to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that provides me sleepless nights and quite frankly the more a service spends on worldwide payroll the less of a photo they see a lack of presence likewise reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide businesses have revealed 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 data information entry errors badly interacted hires and terminations as well as absence management and system setups and then when you round it all off and the data is shipped to the wrong place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they rely on the required numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges company face when they're making payments to employees or otherwise that's an excellent question I always throw this back and say what is it what does not require to be consisted of best and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is definitely important however all over you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort 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 absolutely fundamental and innovation is enabling us to kind of move on with that it also too to add to that payroll and financing require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely vital that payroll and finance teams work closer together than ever um I'm constantly astonished when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more important to contribute to type of the level of complexity there's increasingly more benefits being organ or being used by organizations throughout the world so once again you're simply wanting to include more and more payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real obstacles or genuine difficult kind of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a couple of years I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding info into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to produce extra handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you know that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single biggest liability that any business has from a cost point of view from an impact point of view on workers it is definitely crucial that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant detrimental impact on people's well-being and numerous other factors if individuals aren't paid uh I have actually always been surprised entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just see when things fail. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally also. For that reason, it is important to make sure that tasks like Wi-Fi Global and other crucial matters are done correctly. Utilizing the very first International Payments first payroll payment option is a fantastic preliminary action towards providing a thorough payroll solution for workers worldwide. Standardization, international procedures, and reducing the number of tools, platforms, and savings account needed for worldwide payroll are crucial consider achieving business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyhow we understand how how essential 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 everyone that's associated with those processes and likewise so envision sorry I'm simply I was just gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions picture getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and actually see what was going on and sort of shot to return to everyone so carrying on look why do business pick to main different checking account there are services out there doing precisely this for specific nations and I have actually worked in a service or lots of businesses doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not deliberately doing that we're not producing extra work for anybody where we don't need to and any person that's dealing with that procedure 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 believe many reasons one is it's the standard I believe individuals have got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I believe this is a procedure that needs looking at it requires changing however ultimately individuals are extremely stuck to what they recognize
with right um modification is a tough thing all of us do not like change um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having maintaining several checking account however there's a huge amount of complexity goes with setting up a savings account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private people so the intricacy is substantial but I think the honest response is modification um individuals have not been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be determined to be the next Century approximately there is a lot to keep an eye on and this method does pose numerous difficulties um so Johnny might you inform us about those obstacles yeah naturally so there's a variety 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 International workers you are worthy of a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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