Find out more about Papaya Global Payroll Fica ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to managing payments. This provides us with a secure and reputable approach of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Employee Website
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to worldwide employees no matter the number of employees in the company. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source regional advantages providers in every nation, create local accounts and have a minimum number of workers.
The HR capabilities supplied by Worldwide HR incorporate different functions such as keeping an eye on getaway time, making sure compliance, helping with the procedure of inviting new staff members and bidding farewell to leaving ones, offering a safe online platform for storing workers' documents, and supplying support for work permit treatments in case your workers need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total employment costs dispersed per area, total employment costs per cycle and much more.
Internationally, I have demonstrated management and strategic competence in assisting large-scale populations of over 100,000 workers across 170 nations. Currently, I am responsible for overseeing payroll methods, as discussed by Mark. My role includes managing and developing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We focus on providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a pleasure to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment services for the past seven years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've sort of had a variety of different functions on the service provider side and likewise on the supplier side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everybody 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 interesting and I can see it going on currently 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 remains 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 very really gloomy and I want I was somewhere else at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies keep different
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is especially beneficial for international organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and timely payroll payments is a complex difficulty for businesses operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, learn how companies anticipate payroll costs to optimize working capital, and discover how enhancing worldwide payroll payments can transform them from a challenging task into a tactical property.
Managing payroll internationally is an overwhelming task due to various regulations, compliance requirements, information security concerns, and banking guidelines. The large variety of staff members and businesses contributes to the complexity, with an approximated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently result in manual processes, data silos, and a lack of integration, causing inconsistencies and inefficiencies. In spite of living in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to offer insights and solutions to streamline and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization invests in global payroll the less of a picture they see an absence of exposure also extends to payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of international businesses have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors badly interacted hires and terminations along with lack management and system setups and after that when you round it all off and the information is shipped to the incorrect location the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they depend on the necessary several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to staff members or otherwise that's an excellent concern I constantly throw this back and say what is it what does not need to be consisted of ideal and what does
it require to be thought about there's varying 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 abilities 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 consumer's own in-country account so there's complexity any place you look ideal ultimately building a knowledge base is absolutely vital however all over you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to sort of progress with that it likewise too to add to that payroll and financing need to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely crucial that payroll and financing groups work closer together than ever um I'm constantly impressed when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on well-being and the settlement landscape is ending up being increasingly intricate. Companies are constantly presenting new benefits and payment options, which adds to the general intricacy. Big corporations often divide their payroll and payment processing into separate groups, which can result in inadequacies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's highly advanced period, there's no validation for keeping cumbersome procedures. Payroll, the business's most significant expenditure, need to be processed correctly and on time. Even slight delays can adversely affect staff members' wellness and have significant effects. Therefore, it's vital to focus on accurate and prompt payments.
payroll group get um so I'm uncertain anyone on this sort 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 employees or not um but eventually payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think 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 stuff is absolutely important that all of this things is done correctly so leveraging the very first Global Payments first payroll payment solution is a terrific primary step um providing an end-to-end payroll service for your workers worldwide again I believe is another big um process again aligning and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of businesses and reducing the number of tools platforms and savings account they need for their International 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 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 problems where things haven't gone rather where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how essential a role it is which'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 procedures and also so picture sorry I'm just I was simply gon na state think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions imagine getting that lots of thank you keeps in mind um I indicate 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 picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and type of try to return to everybody so proceeding appearance why do business choose to main different savings account there are organizations out there doing exactly this for particular countries and I've operated in a business or lots of companies doing precisely that I can state it doesn't constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not producing additional work for any person 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 believe numerous factors one is it's the standard I believe people have got so utilized to we need a new checking account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I think this is a process that needs looking at it requires changing however ultimately individuals are really stuck to what they're familiar
with ideal um modification is a tough thing we all do not like modification um so I think 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 understand undoubtedly the benefits of having preserving several bank accounts but there's a substantial amount of intricacy goes with establishing a checking account keeping it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for private individuals so the intricacy is huge but I believe the honest answer is modification um individuals haven't had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to change however we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might almost be identified to be the next Century approximately there is a lot to track and this method does posture several obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just 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 Worldwide staff members you are worthy of a corner office with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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