Find out more about Papaya Global Payroll Entering ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and reliable technique of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Staff member Website
Staff members have access to a Worker Website where they can view their pay slips, wage and tax declarations and work files. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive advantages packages to worldwide employees regardless of the variety of employees in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every nation, create local accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total employment costs dispersed per area, overall employment expenses per cycle and a lot more.
Globally, I have actually shown leadership and strategic competence in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for managing payroll strategies, as discussed by Mark. My function involves handling and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options 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 supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past 7 years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I've type of had a range of different functions on the company side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody originates 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 raining here it's extremely really uninspiring and I wish I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies preserve separate
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is particularly beneficial for international organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic asset 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.
Ensuring precise, efficient, and timely payroll payments is a complex difficulty for companies running globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, discover how business anticipate payroll expenses to optimize working capital, and discover how improving global payroll payments can change them from a troublesome job into a strategic asset.
Managing payroll worldwide is a complicated task due to different regulations, compliance requirements, data security concerns, and banking rules. The sheer number of workers 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 businesses worldwide.
Traditional payroll systems often result in manual procedures, data silos, and an absence of combination, causing disparities and inadequacies. In spite of residing in a period of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to provide insights and solutions to simplify 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 companies say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization invests in worldwide payroll the less of a picture they see an absence of presence likewise encompasses payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of global services have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors inadequately interacted hires and terminations along with absence management and system setups and after that when you round all of it off and the information is delivered to the wrong location the average expense of an international 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 don't run efficiently if they rely on the required numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're paying to employees or otherwise that's a good concern I always toss this back and state what is it what does not need to be included ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan 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 customer's own in-country account so there's intricacy anywhere you look right eventually constructing a knowledge base is definitely important but everywhere you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to sort of progress with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely essential that payroll and finance teams work more detailed together than ever um I'm constantly amazed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession 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 frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on wellness and the settlement landscape is ending up being increasingly elaborate. Businesses are constantly introducing new benefits and payment options, which adds to the overall complexity. Big corporations frequently divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my opinion, this does not have to hold true. In today's highly innovative era, there's no reason for keeping troublesome procedures. Payroll, the business's most significant expense, should be processed correctly and on time. Even minor delays can adversely affect staff members' well-being and have far-reaching repercussions. Therefore, it's important to focus on accurate and timely payments.
payroll group get um so I'm not sure anyone on this kind of webinar has been told 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 eventually payroll is such a crucial cycle all of us hear about it when it goes wrong 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 consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment service is a fantastic initial step um providing an end-to-end payroll option for your employees internationally again I believe is another big um process once again aligning and guaranteeing you have standardization Global processes all of those things are definitely key to success success of companies and decreasing the number of tools platforms and checking account they require 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 had a hundred countless 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 problems where things have not gone quite where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we understand how how essential 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 also so think of sorry I'm simply I was just gon na state think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions picture getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and sort of shot to return to everybody so proceeding appearance why do companies choose to primary separate checking account there are businesses out there doing exactly this for specific countries and I have actually worked in a service or many services doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for anyone where we do not have to and any person that's dealing with that procedure 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 believe numerous factors one is it's the standard I believe people have actually got so used to we require a brand-new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I believe this is a process that requires taking a look at it needs changing however eventually individuals are really stuck to what they're familiar
with right um change is a difficult thing we all do not like change um so I believe it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having keeping several checking account however there's a substantial amount of intricacy opts for setting up a checking account keeping it ensuring it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the intricacy is substantial however I think the honest response is change um individuals have not been able to change or haven't had always the understanding to actually make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century or two there is a lot to keep track of and this approach does pose a number of difficulties um so Johnny might you inform us about those difficulties yeah obviously 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 tasks on one platform. It seems like our CFO has gained another CFO, and with this improved capability, I have successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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