Find out more about Papaya Global Payroll Deduction Custom ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and secure and dependable method of making payments to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll process, conserving me a significant quantity of time each month. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Employee Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive advantages bundles to international employees despite the number of workers in the business. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source local advantages providers in every nation, develop regional accounts and have a minimum number of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work expenses distributed per area, overall employment expenses per cycle and much more.
Worldwide, I have actually shown leadership and strategic competence in assisting large-scale populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for managing payroll techniques, as pointed out by Mark. My role involves managing and establishing external collaborations, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services 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 labor force management services to employees 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, no matter your place. It's a pleasure to satisfy 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 concentrated on payroll and payment solutions for the past seven years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I have actually sort of had a variety of various roles on the service provider side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly 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 raining here it's really very bleak and I wish I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why business preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a tactical possession uh we'll likewise review a wrap-up and that ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being a growing number of common and managing them ends up being a growing number of intricate Global organizations are aiming to find Solutions and brand-new ways to streamline processes specifically from a payroll and cross-border payment viewpoint numerous companies maintain different checking account just for payroll while some have multiple accounts in different countries does it make sense for companies to keep separate checking account in some cases in different countries it does but 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 business streamline the episode complex procedures of
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a challenging task into a strategic property.
Managing payroll worldwide is an overwhelming task due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The large number of staff members and services adds to the intricacy, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems typically lead to manual procedures, information silos, and a lack of combination, leading to disparities and inefficiencies. Despite residing in an era of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to offer insights and services to streamline and optimize worldwide payroll payments.
about it to provide 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 gives me sleep deprived nights and quite honestly the more a company invests in global payroll the less of a photo they see a lack of exposure likewise extends to payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of international organizations have revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors improperly communicated hires and terminations in addition to lack management and system setups and after that when you round it all off and the data is delivered to the wrong place the typical expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they depend on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges business face when they're paying to employees or otherwise that's a great question I always toss this back and say what is it what does not require to be included right and what does
it need to be thought of there's differing Bank information 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 have to pay from the client's own in-country account so there's intricacy anywhere you look best ultimately building a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to type of move forward with that it also too to add to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm always impressed when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more important to add to kind of the level of complexity there's increasingly more benefits being organ or being provided by organizations across the world so again you're just aiming to include more and 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 certain but have you got any experience in kind of real challenges or genuine tough sort of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a number of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding information into the next function as it were that's really managing the payment side of things but 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 need to develop additional handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and a period that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any business has from a cost perspective from an impact point of view on employees it is definitely crucial that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental impact on individuals's well-being and lots of other aspects if people aren't paid uh I've always been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just see when things fail. Nevertheless, when things go right, it's seen as just a regular task. This is how it's viewed externally as well. Therefore, it is vital to ensure that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment option is an excellent preliminary step towards providing a detailed payroll service for workers worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and checking account necessary for international payroll are crucial consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyway we know how how crucial 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 everybody that's involved in those processes and also so picture sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions picture getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and sort of shot to return to everybody so proceeding appearance why do business select to primary different bank accounts there are companies out there doing exactly this for specific countries and I've worked in a business or lots of companies doing precisely that I can say it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not producing additional work for anybody where we don't have to and anyone that's managing that process 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 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 appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I believe this is a procedure that needs looking at it requires changing however ultimately people are very stuck with what they're familiar
with ideal um change is a difficult thing we all do not like change um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having preserving several savings account but there's a huge amount of intricacy goes with setting up a bank account keeping it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for individual people so the intricacy is big but I think the sincere response is modification um people haven't been able to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually struck the nail on the head I believe it is understanding you know and there is a component of resistance to change however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what might almost be figured out to be the next Century or two there is a lot to keep track of and this technique does position a number of difficulties um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I simply did you switched our Business 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 deserve a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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