Find out more about Papaya Global Payroll Partner Edition ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a protected and reliable method of paying to our 10,000 employees worldwide.}
The cutting-edge international payroll management app simplifies my payroll procedure, saving me a substantial quantity of time every month. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Worker Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to global staff members despite the variety of employees in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source local benefits companies in every nation, create local accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall employment costs distributed per location, total work costs per cycle and a lot more.
Worldwide, I have actually shown management and tactical expertise in directing large-scale populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for managing payroll strategies, as pointed out by Mark. My function includes handling and developing external partnerships, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and labor force management services to workers in more than 160 countries. 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 company. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everybody 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 quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone comes 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 really very uninspiring and I wish I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies maintain separate
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex obstacle for companies operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to enhance working capital, and find how streamlining global payroll payments can transform them from a troublesome job into a tactical property.
Managing payroll globally is a complicated job due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The large variety of workers and organizations adds to the complexity, with an estimated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often result in manual processes, information silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. Despite living in a period of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to provide 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 only 11 of businesses state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more an organization invests in worldwide payroll the less of an image they see a lack of presence also extends to payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of global businesses have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes inadequately interacted hires and terminations in addition to absence management and system setups and after that when you round it all off and the information is delivered to the incorrect place the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the essential numerous procedures 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 obstacles organization face when they're paying to staff members or otherwise that's a good concern I always throw this back and state what is it what does not need to be included best and what does
it need to be thought about there's differing 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 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 customer's own in-country account so there's complexity any place you look right eventually building a knowledge base is absolutely vital but all over you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to type of move forward with that it also too to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is absolutely essential that payroll and financing teams work more detailed together than ever um I'm always surprised when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation 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 eventually it's payroll is an end-to-end process it's the point of information 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-day world positions a high worth on well-being and the settlement landscape is becoming increasingly detailed. Services are continually introducing new benefits and payment options, which contributes to the overall complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can result in ineffectiveness and traffic jams. In my opinion, this doesn't need to hold true. In today's technologically innovative period, there's no validation for keeping troublesome treatments. Payroll, the company's most significant cost, must be processed correctly and on time. Even minor delays can adversely affect employees' well-being and have significant consequences. Therefore, it's vital to prioritize precise and prompt payments.
payroll group get um so I'm uncertain anyone on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle we all become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I think 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 crucial that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment solution is a fantastic primary step um providing an end-to-end payroll service for your employees globally once again I believe is another substantial um process again aligning and ensuring you have standardization International processes all of those things are absolutely crucial to success success of organizations and decreasing the number of tools platforms and checking account they require for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyhow we understand how how important 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 everybody that's associated with those procedures and also so envision sorry I'm just I was just gon na say imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions envision getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean all those up for sure oh absolutely I can't think of 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 really see what was going on and kind of shot to return to everybody so proceeding look why do business select to main separate savings account there are companies out there doing exactly this for specific nations and I have actually operated in a business or numerous businesses doing exactly that I can say it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not producing extra work for anybody where we do not have to and anybody that's managing 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 quantity that we are I think many factors one is it's the requirement I believe people have got so used to we require a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that requires looking at it requires changing but eventually people are really stuck with what they recognize
with ideal um modification is a challenging thing all of us do not like modification um so I think it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having maintaining numerous bank accounts however there's a big quantity of intricacy goes with setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the intricacy is big however I think the honest answer is modification um individuals have not had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be determined to be the next Century or two there is a lot to monitor and this approach does present several difficulties um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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