Find out more about Papaya Global Payroll Advances ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and reliable approach of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll procedure, conserving me a considerable amount of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
Employee Website
Workers have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work files. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business offer competitive benefits bundles to international employees no matter the number of staff members in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source local benefits suppliers in every nation, create local accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, overall employment expenses distributed per area, overall employment expenses per cycle and a lot more.
Globally, I have actually shown management and tactical competence in guiding large-scale populations of over 100,000 staff members across 170 nations. Presently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function involves handling and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. Additionally, 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 included on the prominent Time 100 list of the most influential business worldwide. We specialize in providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and decided to type of make a real go at that over the last five or six years where I've kind of had a variety of different roles on the provider side and likewise on the vendor side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everyone another couple of uh well among 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 simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very gloomy and I wish I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies keep separate
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is especially useful for global organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining separate savings account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and timely payroll payments is a complex challenge for companies operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, find out how business anticipate payroll expenses to enhance working capital, and discover how streamlining worldwide payroll payments can change them from a difficult task into a strategic possession.
Handling payroll internationally is a complicated task due to numerous regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of employees and companies adds to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems often result in manual procedures, information silos, and a lack of combination, resulting in disparities and inadequacies. In spite of residing in a period of technological improvements, 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 supply insights and services 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 services say they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly 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 properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of global companies 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 due to time reporting bad HCM data data entry mistakes inadequately communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the information is delivered to the wrong place the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they rely on the required multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a good question I constantly toss this back and state what is it what doesn't need to be included best and what does
it need to be thought of there's differing 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 capabilities 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 client's own in-country account so there's complexity any place you look best ultimately building a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 definitely basic and innovation is allowing us to sort of move on with that it also also to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely vital that payroll and financing groups work closer together than ever um I'm constantly astonished when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation 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 procedure it's the point of information collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being offered by businesses across the world so again you're simply seeking to add more and more payments to this currently complex landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine obstacles or genuine difficult kind of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would absolutely say that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding details into the next function as it were that's in fact handling the payment side of things however 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 need to create extra handoffs in the processes that we run in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and an era that you know that we are working in today there is no reason why we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any business has from an expense point of view from an effect viewpoint on employees it is absolutely 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 need to be done right it has the most significant detrimental impact on individuals's wellness and numerous other elements if people aren't paid uh I have actually always been amazed coming into this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done properly so leveraging the very first International Payments very first payroll payment option is a great primary step um providing an end-to-end payroll option for your workers globally once again I believe is another huge um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely essential to success success of organizations and minimizing the number of tools platforms and savings account they need for their Worldwide 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 ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're suggested to be um I do not believe any of us are actually doing that for for the thanks
anyhow we know how how important 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 everybody that's associated with those procedures and likewise so imagine sorry I'm just I was just gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions imagine getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and actually see what was going on and sort of shot to return to everybody so moving on look why do companies select to primary different bank accounts there are businesses out there doing precisely this for specific countries and I have actually operated in a service or numerous organizations doing precisely that I can state it doesn't always feel efficient and it does produce more work I know we're not intentionally doing that we're not creating additional work for anyone where we don't have to and anyone that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the requirement I think individuals have got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I think this is a procedure that needs looking at it requires changing however eventually people are very stuck with what they're familiar
with right um change is a challenging thing we all don't like modification um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having preserving numerous checking account but there's a huge amount of intricacy opts for establishing a savings account maintaining it ensuring it can send International transfers guaranteeing it's established with the best user accesses for specific individuals so the complexity is huge but I think the truthful answer is change um people haven't had the ability to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to monitor and this technique does posture several obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I simply did you switched 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 employees you are worthy of a corner workplace with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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