Find out more about Papaya Global Core Payroll ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a protected and reliable approach of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app enhances my payroll process, conserving me a significant quantity of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
Employee Portal
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax declarations and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive benefits bundles to global staff members regardless of the variety of staff members in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every country, create local accounts and have a minimum number of workers.
The HR capabilities offered by Global HR include numerous functions such as monitoring getaway time, making sure compliance, facilitating the procedure of inviting new staff members and bidding farewell to departing ones, offering a protected online platform for saving workers' documents, and supplying assistance for work permit treatments in case your staff members need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total work expenses dispersed per place, total employment expenses per cycle and far more.
Globally, I have shown leadership and tactical know-how in directing massive populations of over 100,000 employees across 170 countries. Currently, I are accountable for overseeing payroll techniques, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We focus on offering payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to fulfill 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 industry, I have focused on payroll and payment services for the past 7 years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've sort of had a variety of different roles on the service provider side and also on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days 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 everyone is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely uninspiring and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies maintain separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Global payroll payments as a tactical asset uh we'll likewise review a wrap-up and that ought to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more typical and handling them becomes more and more intricate Worldwide organizations are aiming to discover Solutions and brand-new ways to simplify processes specifically from a payroll and cross-border payment viewpoint numerous companies maintain separate savings account just for payroll while some have several accounts in various countries does it make good sense for companies to keep different checking account often in various nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies streamline the episode complex procedures of
Ensuring accurate, efficient, and timely payroll payments is a complex difficulty for organizations running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to optimize working capital, and find how enhancing global payroll payments can transform them from a challenging job into a tactical property.
Managing payroll globally is an overwhelming task due to various policies, compliance requirements, data security issues, and banking rules. The large variety of workers and organizations adds to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and a lack of integration, leading to inconsistencies and inadequacies. In spite of living in an era of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to provide insights and solutions to streamline 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 say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite honestly the more a business spends on global payroll the less of a photo they see a lack of visibility also reaches payroll payments and failure to properly track these payments can lead to 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 procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors poorly interacted hires and terminations as well as lack management and system setups and after that when you round everything off and the data is delivered to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they count on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles service face when they're paying to workers or otherwise that's a good question I constantly throw this back and say what is it what doesn't need to be consisted of best 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 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 customer's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is absolutely crucial but all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to type of move on with that it likewise also to add to that payroll and financing need to work closer together um with varying Checking account Details varying banking requirements and setup procedures is absolutely crucial that payroll and financing teams work better together than ever um I'm constantly surprised when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on well-being and the settlement landscape is becoming progressively detailed. Companies are constantly presenting brand-new benefits and payment options, which contributes to the general intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technically advanced period, there's no justification for preserving troublesome procedures. Payroll, the company's greatest expense, need to be processed correctly and on time. Even slight delays can adversely affect employees' well-being and have far-reaching repercussions. For that reason, it's critical to prioritize accurate and timely payments.
payroll group get um so I'm unsure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an important cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment option is a great primary step um providing an end-to-end payroll service for your staff members globally again I think is another substantial um procedure again aligning and ensuring you have standardization Worldwide procedures all of those things are absolutely crucial to success success of businesses and reducing the variety of tools platforms and bank accounts they need for their Global 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 have actually never had a hundred thousand of them within a payroll cycle don't 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 don't think any of us are actually doing that for for the thanks
anyhow we understand how how important 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 easy as possible for everybody that's involved in those procedures and also so envision sorry I'm just I was just gon na state imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely 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 look through them and in fact see what was going on and kind of shot to return to everyone so proceeding look why do business pick to main different checking account there are companies out there doing exactly this for particular countries and I've operated in a business or lots of organizations doing precisely that I can say it doesn't always feel effective and it does create more work I understand we're not deliberately doing that we're not producing additional work for anybody where we do not have to and anyone that's dealing with 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 think lots of factors one is it's the standard I believe people have actually got so utilized to we require a new checking account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it requires altering however eventually people are extremely stuck to what they recognize
with best um change is a challenging thing all of us do not like modification um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having keeping numerous bank accounts but there's a big quantity of complexity goes with setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is huge but I believe the truthful answer is change um individuals haven't had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to change but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could practically be determined to be the next Century approximately there is a lot to keep track of and this method does position a number of obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just 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 staff members you deserve a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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