Find out more about Papaya Global How To Pause Automatic Payroll ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a protected and reliable approach of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app streamlines my payroll procedure, saving me a significant quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Staff member Website provides employees with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to international staff members despite the number 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 requirement to source regional benefits companies in every nation, produce regional accounts and have a minimum number of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total work expenses dispersed per area, overall employment costs per cycle and far more.
environments around the world I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across business handling and structure external relationships supporting Enterprise customers and services as well as acting as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of 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 company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have always captivated me.
payroll payments and chose to sort of make a real go at that over the last five or six years where I've kind of had a variety of various functions on the supplier side and likewise on the supplier side from a payroll point of view so actually anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or so 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 fascinating and I can see it going on already simply to hear where everybody 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 certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very really gloomy and I wish I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business preserve different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll likewise discuss a wrap-up and that must leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more common and handling them becomes increasingly more complex International organizations are looking to discover Solutions and brand-new ways to simplify procedures particularly from a payroll and cross-border payment standpoint numerous companies preserve separate bank account just for payroll while some have several accounts in different nations does it make sense for companies to preserve different bank accounts in some cases in different nations it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies simplify the episode complex procedures of
Guaranteeing accurate, effective, and prompt payroll payments is a complex challenge for businesses running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll costs to optimize working capital, and discover how streamlining worldwide payroll payments can transform them from a difficult job into a strategic possession.
Managing payroll globally is a difficult job due to numerous regulations, compliance requirements, data security concerns, and banking guidelines. The large variety of workers and services adds to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and an absence of combination, leading to disparities and ineffectiveness. Despite living in an age of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to provide insights and services to streamline and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more a service invests in international payroll the less of a picture they see a lack of visibility likewise extends to payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the transaction nearly half of global services have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors badly interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the information is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be included right and what does
it need to be considered there's varying Bank details 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 need to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is absolutely important but all over you look with payroll payment they are like super payments no if but some infants 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 acknowledgment that payroll payments are definitely basic and technology is enabling us to sort of progress with that it likewise also to add to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely necessary that payroll and financing teams work more detailed together than ever um I'm always impressed when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often 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 people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more essential to add to sort of the level of intricacy there's increasingly more benefits being organ or being used by services across the world so again you're just looking to add increasingly more payments to this already complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine challenges or real challenging sort of pay uses to play to pay people I think yeah I imply over the last well yeah a number of decades I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to create additional handoffs in the processes that we run in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and a period that you know that we are working in today there is no reason we are still making this as hard as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any service has from an expense perspective from an impact viewpoint on workers it is definitely vital 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 have to be done right it has the greatest destructive result on people's wellness and numerous other aspects if people aren't paid uh I have actually always been impressed entering into this Market sort of the last five to 10 years is how little thanks the
payroll team get um so I'm unsure anybody on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the very first International Payments first payroll payment option is an excellent initial step um supplying an end-to-end payroll service for your workers worldwide again I think is another big um process once again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of services and minimizing the number of tools platforms and savings account they need for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyhow we know 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 easy as possible for everyone that's associated with those processes and also so imagine sorry I'm just I was just gon na say envision the quantity 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 hundreds of thousands possibly Millions picture getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and actually see what was going on and type of try to get back to everyone so proceeding appearance why do companies select to primary different checking account there are businesses out there doing precisely this for particular countries and I have actually worked in a business or lots of companies doing exactly that I can state it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not producing extra work for anyone where we don't have to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the standard I believe individuals have got so used to we need a new bank account we open an entity and appropriately so you need 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 standard and the norm individuals have actually embraced and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I believe this is a procedure that needs looking at it needs changing but eventually people are extremely stuck with what they're familiar
with best um change is a difficult thing we all don't like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having preserving multiple savings account however there's a big quantity of intricacy chooses establishing a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the complexity is big but I believe the sincere answer is modification um individuals have not had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I think 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 looking at the the benefits and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century or so there is a lot to keep an eye on and this method does posture numerous difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this improved ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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