Find out more about Papaya Global Payroll Agent Information For Edd ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and trusted technique of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app enhances my payroll process, conserving me a significant quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Staff member Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment files. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive benefits plans to global workers no matter the variety of staff members in the company. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local benefits companies in every country, produce local accounts and have a minimum variety of employees.
The HR abilities offered by Worldwide HR incorporate various functions such as keeping an eye on holiday time, guaranteeing compliance, helping with the process of inviting new workers and bidding farewell to leaving ones, providing a secure online platform for keeping employees' files, and supplying support for work allow procedures in case your staff members need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work expenses dispersed per location, total work costs per cycle and a lot more.
Globally, I have shown management and tactical knowledge in directing large-scale populations of over 100,000 employees across 170 nations. Currently, I are accountable for managing payroll techniques, as discussed by Mark. My role involves handling and developing external collaborations, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We concentrate on offering 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 introduce himself. Good day to all, regardless of your location. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really extremely gloomy and I wish I was elsewhere 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 challenge years of handling International payroll why companies maintain different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic possession uh we'll likewise go over 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 officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more typical and handling them becomes increasingly more complicated Worldwide organizations are seeking to discover Solutions and brand-new ways to enhance procedures especially from a payroll and cross-border payment perspective lots of organizations maintain separate checking account just for payroll while some have multiple accounts in various nations does it make good sense for business to preserve separate savings account often in various countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business simplify the episode complex procedures of
Making sure accurate, effective, and timely payroll payments is a complex difficulty for companies running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, learn how companies forecast payroll costs to enhance working capital, and discover how simplifying international payroll payments can transform them from a troublesome task into a tactical asset.
Handling payroll internationally is an overwhelming job due to various guidelines, compliance requirements, information security issues, and banking rules. The large number of staff members and services adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual processes, data silos, and an absence of combination, leading to inconsistencies and ineffectiveness. Despite living in an era of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to offer insights and solutions to simplify and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a business spends on worldwide payroll the less of an image they see a lack of presence likewise encompasses payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal almost half of worldwide 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 mistakes are because of time reporting poor HCM information data entry errors inadequately communicated hires and terminations as well as absence management and system setups and after that when you round it all off and the information is shipped to the wrong location the average expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they depend on the needed several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges service face when they're making payments to staff members or otherwise that's an excellent question I always toss this back and say what is it what doesn't need to be included ideal and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 consumer's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is definitely vital but everywhere you look with payroll payment they are like extremely 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 believe there's now a bit more recognition that payroll payments are definitely basic and technology is permitting us to sort of move on with that it also as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is absolutely necessary that payroll and financing teams work more detailed together than ever um I'm always surprised when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work 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 typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more essential to contribute to type of the level of complexity there's a growing number of benefits being organ or being offered by services throughout the world so once again you're simply looking to add a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine challenges or real difficult sort of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would certainly say that the larger a business 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 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 doesn't necessarily require to be the case you know long gone are the times where we require to create extra handoffs at the same times that we operate in they simply make them more timely they make them less effective 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 operating in today there is no reason why we are still making this as difficult as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any organization has from a cost viewpoint from an impact viewpoint on employees it is definitely critical that it's done correctly and on time so what we mean 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 people's wellness and lots of other aspects if people aren't paid uh I've 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 unsure anybody on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle we all hear about it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box workout 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 things is absolutely vital that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment service is a great primary step um providing an end-to-end payroll option for your staff members internationally once again I believe is another huge um process once again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely essential to success success of businesses and minimizing the number of tools platforms and bank accounts they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're meant to be um I do not believe any of us are actually doing that for for the thanks
anyway we know how how crucial 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 easy as possible for everybody that's involved in those procedures and also so picture sorry I'm just I was just gon na say envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job attempting to clean up all those up for sure oh definitely 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 browse them and really see what was going on and kind of shot to get back to everyone so carrying on look why do companies select to main separate checking account there are businesses out there doing precisely this for particular nations and I've operated in a service or many companies doing exactly that I can say it doesn't constantly feel efficient and it does create more work I know we're not purposely doing that we're not producing additional work for anyone where we don't need to and any person 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 quantity that we are I think lots of factors one is it's the requirement I think individuals have actually got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually embraced 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 numerous other ways um to to kind of do it so I think there's a range I believe this is a process that needs looking at it needs altering but eventually people are really stuck to what they recognize
with best um modification is a challenging thing we all do not like change um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having keeping multiple savings account but there's a huge quantity of intricacy goes with setting up a bank account preserving it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the intricacy is substantial however I believe the honest response is change um individuals have not been able to change or haven't had necessarily the understanding to truly make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might almost be figured out to be the next Century approximately there is a lot to monitor and this approach does position a number of obstacles um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this boosted capability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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