Find out more about Papaya Global Payroll How To Lay Off Employee ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and reliable technique of making payments to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll procedure, saving me a substantial amount of time monthly. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
The Worker Portal offers employees with the capability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global helps business provide competitive advantages packages to international employees despite the variety of workers in the company. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source local benefits companies in every nation, develop local accounts and have a minimum number of workers.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall work costs distributed per place, total employment costs per cycle and far more.
Worldwide, I have actually demonstrated management and tactical proficiency in assisting large-scale populations of over 100,000 staff members across 170 nations. Currently, I are accountable for supervising payroll techniques, as pointed out by Mark. My role includes managing and developing external collaborations, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We focus on providing payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and difficulties of this field have actually constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of various roles on the service provider side and also 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 alright thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very uninspiring and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why business keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic possession uh we'll likewise discuss a wrap-up which 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 International labor forces end up being more and more typical and handling them ends up being increasingly more complex International organizations are seeking to discover Solutions and new ways to enhance procedures specifically from a payroll and cross-border payment standpoint many companies keep different bank account just for payroll while some have multiple accounts in different countries does it make good sense for business to keep separate bank accounts in some cases in various nations it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in helping international business enhance the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how business anticipate payroll expenses to enhance working capital, and discover how simplifying global payroll payments can change them from a challenging job into a tactical asset.
Managing payroll globally is an overwhelming job due to various policies, compliance requirements, data security issues, and banking rules. The large number of employees and services contributes to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and a lack of combination, causing disparities and ineffectiveness. Regardless of residing in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to supply insights and services to simplify and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more a service spends on global payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction nearly half of global companies have 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 because of time reporting bad HCM data data entry errors improperly interacted hires and terminations in addition to absence management and system configurations and then when you round all of it off and the data is shipped to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they depend on the needed several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're paying to employees or otherwise that's a great question I always throw this back and state what is it what does not require to be included ideal 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 timespan 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 intricacy anywhere you look ideal ultimately constructing a knowledge base is definitely important however all over you look with payroll payment they are like very payments no if but some infants 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 believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to sort of progress with that it also too to add to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely essential that payroll and financing groups work more detailed together than ever um I'm constantly impressed when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation 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 process it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high worth on wellness and the compensation landscape is becoming significantly detailed. Businesses are continuously introducing brand-new benefits and payment choices, which adds to the total complexity. Big corporations frequently divide their payroll and payment processing into different teams, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technologically innovative era, there's no reason for keeping troublesome treatments. Payroll, the company's biggest cost, must be processed properly and on time. Even small delays can adversely impact workers' wellness and have far-reaching repercussions. Therefore, it's critical to prioritize accurate and timely payments.
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people only observe when things fail. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally too. For that reason, it is important to make sure that tasks like Wi-Fi International and other essential matters are done correctly. Utilizing the first Global Payments very first payroll payment option is a fantastic initial step towards supplying an extensive payroll service for workers worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and checking account essential for international payroll are essential consider attaining service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyhow 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 easy as possible for everyone that's involved in those procedures and also so envision sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the quantity of people 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 interesting task trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and in fact see what was going on and kind of shot to return to everyone so moving on look why do business pick to primary different bank accounts there are services out there doing exactly this for particular countries and I have actually operated in a business or many businesses doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not developing extra work for any person where we don't have to and any person that's managing 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 amount that we are I believe many reasons one is it's the standard I believe individuals have actually got so utilized to we need a new checking 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 just been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a range I think this is a process that needs taking a look at it requires altering but eventually individuals are extremely stuck to what they're familiar
with ideal um modification is a challenging thing we all don't like modification um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having maintaining numerous bank accounts but there's a big quantity of intricacy goes with setting up a checking account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for individual individuals so the intricacy is huge however I believe the honest answer is change um individuals haven't been able to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could almost be determined to be the next Century approximately there is a lot to keep an eye on and this approach does position numerous challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise 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 gained another CFO, and with this improved capability, I have effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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