Find out more about Papaya Global Payroll Agent ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and dependable technique of making payments to our 10,000 staff members worldwide.}
The innovative worldwide 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 effectively handles my payroll, EOR, and professionals.
Employee Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax statements and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business provide competitive advantages packages to global employees despite the variety of workers in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source local benefits companies in every country, create regional accounts and have a minimum variety of workers.
The HR abilities supplied by Global HR include different functions such as keeping track of trip time, making sure compliance, facilitating the process of inviting new employees and bidding farewell to departing ones, using a safe and secure online platform for storing employees' files, 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 offers you insights into labor force spending, labor force diversity, overall work costs dispersed per place, total work costs per cycle and a lot more.
Internationally, I have shown management and tactical competence in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I are accountable for managing payroll techniques, as mentioned by Mark. My role involves handling and developing external partnerships, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We specialize in supplying payroll and workforce 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 introduce himself. Good day to all, regardless of your place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or six years where I've type of had a range of various functions on the service provider side and likewise on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating 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 originates from and I actually 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 very gloomy and I wish I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies preserve separate
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining different checking account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic possession for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex challenge for services operating globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, learn how companies forecast payroll costs to enhance working capital, and find how enhancing global payroll payments can transform them from a troublesome task into a strategic possession.
Managing payroll worldwide is an overwhelming task due to different regulations, compliance requirements, data security concerns, and banking guidelines. The sheer number of workers and companies adds to the complexity, with an estimated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems typically result in manual procedures, data silos, and an absence of combination, leading to disparities and inefficiencies. Regardless of residing in an age of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to supply insights and options to simplify and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of a picture they see a lack of visibility also reaches payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide businesses have revealed that they don't 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 poor HCM data information entry mistakes poorly communicated hires and terminations in addition to lack management and system configurations and then when you round it all off and the data is shipped to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they depend on the needed multiple procedures 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 challenges service face when they're paying to employees or otherwise that's a great question I constantly throw this back and state what is it what does not 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 country there's payment time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look ideal ultimately building a knowledge base is absolutely vital however all over you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind 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 essential and technology is allowing us to type of progress with that it also also to add to that payroll and finance need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and financing teams work more detailed together than ever um I'm always amazed when people state I have actually 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 estimation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on wellness and the payment landscape is ending up being significantly elaborate. Companies are continually presenting brand-new advantages and payment alternatives, which adds to the total intricacy. Large corporations typically divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't have to hold true. In today's technically advanced period, there's no reason for maintaining cumbersome treatments. Payroll, the company's most significant cost, need to be processed correctly and on time. Even slight hold-ups can negatively affect employees' wellness and have far-reaching repercussions. For that reason, it's important to prioritize accurate and timely payments.
payroll team get um so I'm not exactly sure anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an essential cycle we all find out 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 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 stuff is done properly so leveraging the first International Payments first payroll payment option is an excellent primary step um offering an end-to-end payroll solution for your staff members internationally again I believe is another huge um process again aligning and ensuring you have standardization International procedures all of those things are absolutely essential to success success of organizations and decreasing the variety of tools platforms and checking account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I do not believe any of us are in fact 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 simple as possible for everyone that's associated with those processes and likewise so imagine sorry I'm simply I was simply gon na say think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions think of getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and actually see what was going on and sort of try to get back to everyone so proceeding appearance why do companies pick to primary separate bank accounts there are businesses out there doing precisely this for specific countries and I have actually operated in a company or lots of organizations doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not deliberately doing that we're not creating additional work for anybody where we do not have to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think 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 individuals have actually got so used to we need a brand-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 believe it's just been the standard and the standard the people have adopted and continue to do over years and years passed by to contribute to that people have actually 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 taking a look at it needs altering but ultimately individuals are very stuck with what they're familiar
with right um modification is a hard thing we all do not like change um so I think 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 understand certainly the benefits of having keeping multiple bank accounts but there's a substantial quantity of intricacy chooses establishing a savings account maintaining it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is big but I believe the honest response is change um individuals haven't been able to change or have not had always the understanding to really 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 knowledge you know and there is a component of resistance to change however we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could almost be figured out to be the next Century or two there is a lot to track and this method does present several difficulties um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering global 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 achievements.
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