Find out more about Change Payroll Date Papaya Global ... 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 actually gotten a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and trusted technique of paying to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, conserving me a considerable amount of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Staff member Portal
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive benefits plans to international employees no matter the variety of staff members in the company. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source regional benefits suppliers in every country, create regional accounts and have a minimum variety of staff members.
The HR capabilities provided by Worldwide HR include various functions such as keeping an eye on holiday time, ensuring compliance, assisting in the process of inviting brand-new workers and bidding farewell to leaving ones, using a secure online platform for keeping employees' documents, and supplying assistance for work permit treatments in case your staff members require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, overall work expenses dispersed per location, total employment expenses per cycle and a lot more.
Globally, I have shown leadership and tactical know-how in directing massive populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for supervising payroll techniques, as pointed out by Mark. My role includes managing and developing external collaborations, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a global company, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We focus on providing payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to satisfy 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 decade of experience in the payments market, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and obstacles of this field have constantly captivated me.
payroll payments and decided to sort of make a real go at that over the last five or six years where I have actually type of had a variety of different roles on the company side and likewise on the supplier side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just give everyone another couple 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 just to hear where everyone is um it's nice to to kind 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 sunlight is it it's not no it's it's raining here it's really very dreary and I want I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why companies keep separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly beneficial for international organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of maintaining different savings account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex obstacle for organizations operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, learn how companies anticipate payroll expenses to enhance working capital, and find how enhancing international payroll payments can change them from a troublesome job into a tactical asset.
Handling payroll internationally is a complicated task due to various regulations, compliance requirements, data security issues, and banking guidelines. The sheer number of employees and organizations contributes to the complexity, with an approximated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual processes, information silos, and a lack of integration, causing disparities and inefficiencies. Regardless of residing in an era of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to supply insights and options to streamline and enhance global 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 information in real time that's another number that provides me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of an image they see a lack of presence also reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of global businesses have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes badly interacted hires and terminations as well as lack management and system setups and then when you round everything off and the information is shipped to the wrong place the average 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 around the world payroll and payments don't run efficiently if they count on the essential several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're making payments to workers or otherwise that's a good question I always throw this back and state what is it what doesn't require to be consisted of 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 abilities 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 consumer's own in-country account so there's intricacy any place you look ideal ultimately constructing a knowledge base is absolutely important but all over you look with payroll payment they are like super payments no if however some infants 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 acknowledgment that payroll payments are definitely essential and innovation is permitting us to sort of move forward with that it also as well to add to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely crucial that payroll and financing teams work better together than ever um I'm constantly surprised when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't 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 often 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 wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to add to type of the level of complexity there's a growing number of benefits being organ or being provided by businesses throughout the world so once again you're just aiming to add increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or real difficult kind of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would absolutely state that the larger an organization 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 details into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we need to develop extra handoffs while doing sos that we run in they just make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason why we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any company has from an expense viewpoint from an impact perspective on staff members it is absolutely vital that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant destructive impact on individuals's well-being and many other elements if people aren't paid uh I've always been amazed entering into this Market type of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just notice when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally as well. For that reason, it is vital to guarantee that tasks like Wi-Fi Global and other vital matters are done correctly. Using the first Worldwide Payments very first payroll payment solution is a great preliminary action towards supplying a detailed payroll option for workers worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and checking account needed for worldwide payroll are crucial factors in attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things do not go as prepared. Eventually, we do not do it for the gratitude.
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 simple as possible for everybody that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na say think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially 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 definitely be a fascinating task attempting to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and kind of try to return to everybody so carrying on appearance why do business pick to main different savings account there are organizations out there doing precisely this for particular nations and I've operated in a service or numerous companies doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anybody where we don't have to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the standard I believe individuals have actually got so utilized to we need a new checking account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and many other ways 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 changing but eventually people are very stuck to what they're familiar
with ideal um change is a hard thing all of us do not like modification um so I think it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having keeping multiple bank accounts but there's a substantial amount of complexity opts for setting up a bank account keeping it ensuring it can send International transfers ensuring it's established with the best user accesses for specific people so the complexity is substantial but I think the honest answer is modification um individuals haven't been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change but we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century or so there is a lot to track and this technique does position a number of difficulties um so Johnny might you tell us about those difficulties yeah of course 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 International workers you are worthy of a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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