Find out more about Papaya Global Delete Unpaid Payroll ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to handling payments. This supplies us with a secure and trustworthy method of making payments to our 10,000 employees 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 interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Staff member Website
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax statements 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 helps companies offer competitive benefits packages to worldwide staff members no matter the variety of employees in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source local benefits companies in every country, create regional accounts and have a minimum number of staff members.
The HR abilities supplied by International HR incorporate different functions such as keeping track of trip time, guaranteeing compliance, facilitating the process of welcoming new staff members and bidding goodbye to departing ones, using a secure online platform for saving employees' documents, and offering support for work allow treatments in case your staff members need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall employment expenses dispersed per area, overall employment costs per cycle and a lot more.
Internationally, I have demonstrated leadership and tactical expertise in assisting massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll strategies, as discussed by Mark. My function includes handling and establishing external partnerships, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a global company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The complexities and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I've kind of had a range of various roles on the service provider side and likewise on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely really bleak and I wish 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 Global payroll why companies preserve separate
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is especially helpful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex obstacle for organizations running globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how business anticipate payroll expenses to enhance working capital, and find how enhancing global payroll payments can change them from a challenging job into a strategic asset.
Handling payroll worldwide is a daunting task due to different policies, compliance requirements, information security concerns, and banking rules. The large number of staff members and services contributes to the complexity, with an estimated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of combination, resulting in inconsistencies and inefficiencies. In spite of residing in an era of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to supply insights and options to simplify and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a company invests in international payroll the less of a picture they see an absence of visibility also encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide services have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes badly communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is shipped to the incorrect location the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they rely on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're paying to staff members or otherwise that's a great question I always throw this back and say what is it what does not require to be included best and what does
it need to be thought about there's differing Bank information 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 complexity any place you look right eventually developing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and innovation is permitting us to kind of progress with that it likewise also to add to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is absolutely necessary that payroll and financing groups work closer together than ever um I'm always impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession 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 frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more important to add to sort of the level of intricacy there's more and more benefits being organ or being used by businesses throughout the world so again you're simply wanting to include a growing number of payments to this already complex landscape so if you sort of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine challenges or real difficult type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of decades I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we operate in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and a period that you know that we are operating in today there is no reason that we are still making this as hard as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any company has from an expense viewpoint from an effect viewpoint on staff members it is absolutely important that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest harmful effect on individuals's wellness and lots of other factors if individuals aren't paid uh I've constantly been impressed entering this Market kind of the last five to 10 years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just notice when things go wrong. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's perceived externally as well. For that reason, it is vital to make sure that tasks like Wi-Fi International and other essential matters are done properly. Using the first Worldwide Payments very first payroll payment option is a fantastic initial step towards offering a comprehensive payroll service for workers worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account necessary for global payroll are crucial factors in attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyway 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 associated with those processes and also so imagine sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task trying to clean all those up for sure oh absolutely I can't think of 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 really see what was going on and type of try to get back to everybody so carrying on appearance why do business pick to main separate savings account there are services out there doing exactly this for particular nations and I have actually operated in a business or numerous services doing precisely that I can state it doesn't always feel efficient and it does develop more work I know we're not intentionally doing that we're not developing extra work for any person where we do not have to and anybody that's managing 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 reasons one is it's the standard I believe people have got so used to we require a new savings account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have 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 numerous other methods um to to type of do it so I believe there's a range I believe this is a process that needs looking at it needs changing but ultimately individuals are very stuck to what they're familiar
with best um modification is a challenging thing all of us don't 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 great deal of track of stuff um I comprehend clearly the benefits of having keeping several bank accounts however there's a substantial amount of intricacy goes with setting up a checking account preserving it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private people so the intricacy is substantial but I believe the sincere response is change um people haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we've constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century approximately there is a lot to track and this approach does present a number of difficulties um so Johnny could you inform us about those difficulties yeah obviously 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you deserve a corner workplace with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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