Find out more about Papaya Global Payroll Hours Of Support ... 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 obtained a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Staff member Portal provides staff members with the ability to access and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive advantages plans to international employees despite the variety of workers in the business. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source regional benefits companies in every nation, create local accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total employment expenses distributed per place, total employment expenses per cycle and far more.
Worldwide, I have demonstrated management and tactical expertise in guiding massive populations of over 100,000 workers across 170 countries. Currently, I are accountable for managing payroll techniques, as pointed out by Mark. My function includes managing and establishing external partnerships, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment services for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've kind of had a range of various roles on the provider side and likewise on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type 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 extremely really bleak and I wish I was elsewhere at this moment in time all right 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
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll likewise go over a wrap-up and that needs to leave his time at the extremely really 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 workforces become a growing number of typical and managing them ends up being a growing number of complex Global organizations are looking to discover Solutions and new methods to streamline processes specifically from a payroll and cross-border payment perspective numerous organizations preserve separate checking account just for payroll while some have multiple accounts in different countries does it make sense for companies to keep separate savings account in some cases in various countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies streamline the episode complex procedures of
Making sure accurate, efficient, and prompt payroll payments is a complex obstacle for businesses running internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll costs to optimize working capital, and find how enhancing global payroll payments can transform them from a challenging task into a tactical asset.
Managing payroll worldwide is a daunting job due to various regulations, compliance requirements, information security concerns, and banking rules. The sheer number of staff members and services adds to the complexity, with an estimated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems typically lead to manual procedures, information silos, and a lack of combination, causing inconsistencies and inadequacies. Despite residing in an age of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to provide insights and solutions to simplify and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more a service invests in international payroll the less of an image they see an absence of visibility also encompasses payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of worldwide businesses have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors inadequately interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is delivered to the incorrect location the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they depend on the essential multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what does not require to be consisted of best and what does
it require 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 time frames there's payment abilities 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 ideal eventually developing a knowledge base is definitely important but everywhere you look with payroll payment they resemble extremely payments no if however 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 basic and technology is allowing us to kind of progress with that it also too to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely necessary that payroll and financing teams work more detailed together than ever um I'm constantly impressed when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often 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 people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on well-being and the settlement landscape is becoming progressively elaborate. Services are continually presenting brand-new benefits and payment alternatives, which adds to the general complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to inadequacies and bottlenecks. In my opinion, this does not have to hold true. In today's technically sophisticated period, there's no reason for keeping cumbersome treatments. Payroll, the company's most significant expense, must be processed correctly and on time. Even minor hold-ups can negatively impact staff members' well-being and have significant effects. For that reason, it's crucial to focus on accurate and timely payments.
payroll group get um so I'm unsure anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle all of us find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely vital that all of this things is done correctly so leveraging the first Global Payments very first payroll payment solution is an excellent primary step um supplying an end-to-end payroll option for your employees globally again I think is another huge um procedure once again lining up and ensuring you have standardization International processes all of those things are absolutely crucial to success success of services and minimizing the variety of tools platforms and savings account they require for their Global payroll too could not 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 do not anticipate to you do get the odd five or 10 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 think any of us are really doing that for for the thanks
anyway we understand how how essential 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 everyone that's involved in those processes and also so picture sorry I'm simply I was just gon na state picture the quantity 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 possibly Millions picture getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and actually see what was going on and type of try to return to everybody so proceeding look why do companies choose to main separate bank accounts there are companies out there doing exactly this for particular nations and I've worked in a company or numerous services doing precisely that I can state it does not constantly feel effective and it does produce more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not need to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of reasons one is it's the standard I think individuals have actually got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have 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 requires looking at it needs changing but ultimately individuals are very stuck with what they recognize
with right um change is a tough thing all of us don't like change um so I believe it's just kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having keeping several checking account however there's a huge quantity of complexity opts for establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for specific individuals so the complexity is substantial however I believe the sincere response is modification um individuals have not had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to change but we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century or so there is a lot to keep an eye on and this approach does posture a number of obstacles um so Johnny could you tell us about those challenges yeah naturally so there's a range right there is so
I just recently made a change to our Business 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 actually gained another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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