Find out more about Papaya Global Payroll Partner ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a secure and trustworthy approach of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
The Staff member Website offers workers with the ability to access and view crucial files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive benefits packages to international employees regardless of the number of workers in the business. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source local benefits providers in every nation, create regional accounts and have a minimum number of employees.
The HR abilities offered by International HR incorporate numerous functions such as keeping track of vacation time, ensuring compliance, facilitating the procedure of inviting new workers and bidding farewell to departing ones, using a secure online platform for storing workers' files, and supplying assistance for work permit treatments in case your workers require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, overall employment costs dispersed per area, total work costs per cycle and much more.
environments around the world I supplied leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark said I work across the business handling and building external relationships supporting Enterprise customers and services along with functioning as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As an international business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a satisfaction to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of various roles on the company side and also on the supplier side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds approximately to join all of us 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 just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really extremely bleak and I wish I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical asset uh we'll also discuss a wrap-up which needs to leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of typical and handling them ends up being increasingly more complex Worldwide organizations are wanting to discover Solutions and new methods to enhance processes specifically from a payroll and cross-border payment viewpoint numerous organizations maintain different bank account just for payroll while some have multiple accounts in different nations does it make sense for companies to keep different bank accounts in some cases in various nations it does but just for payroll exists a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies simplify the episode complex processes of
Guaranteeing precise, efficient, and prompt payroll payments is a complex challenge for businesses operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll costs to enhance working capital, and find how streamlining international payroll payments can transform them from a difficult task into a tactical possession.
Handling payroll globally is an overwhelming task due to numerous guidelines, compliance requirements, information security concerns, and banking rules. The large variety of workers and services adds to the complexity, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Traditional payroll systems often lead to manual procedures, data silos, and an absence of combination, causing disparities and inadequacies. Despite living in a period of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to supply insights and services to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization spends on global payroll the less of a picture they see a lack of exposure also reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal almost half of global organizations have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes poorly interacted hires and terminations as well as lack management and system configurations and after that when you round all of it off and the information is shipped to the wrong location the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they depend on the required multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles organization face when they're making payments to workers or otherwise that's a good question I always throw this back and say what is it what does not require to be consisted of ideal and what does
it require 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 have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is definitely critical but all over you look with payroll payment they are like 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 acknowledgment that payroll payments are definitely essential and innovation is permitting us to sort of progress with that it also too to contribute to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm constantly amazed when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't 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 procedure it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high worth on well-being and the payment landscape is ending up being progressively complex. Organizations are continuously introducing new advantages and payment alternatives, which adds to the overall intricacy. Large corporations often divide their payroll and payment processing into different groups, which can lead to inadequacies and bottlenecks. In my opinion, this does not need to hold true. In today's technically innovative era, there's no reason for preserving troublesome treatments. Payroll, the business's biggest expense, need to be processed correctly and on time. Even minor delays can adversely affect workers' well-being and have significant repercussions. For that reason, it's critical to prioritize precise and timely payments.
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just see when things fail. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally as well. For that reason, it is necessary to make sure that tasks like Wi-Fi International and other important matters are done correctly. Utilizing the first Worldwide Payments first payroll payment solution is a great initial action towards offering a thorough payroll solution for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account essential for worldwide payroll are crucial consider attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as prepared. Eventually, we don't do it for the appreciation.
anyway 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 easy as possible for everyone that's associated with those processes and likewise so imagine sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean all those up for sure oh definitely I can't think of 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 really see what was going on and sort of shot to return to everyone so moving on appearance why do companies choose to primary separate bank accounts there are organizations out there doing exactly this for particular countries and I have actually operated in an organization or lots of services doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not developing extra work for anyone where we don't have to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the requirement I believe individuals have actually got so utilized to we require a new savings account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I believe this is a procedure that needs looking at it requires altering however eventually people are really stuck with what they're familiar
with ideal um modification is a difficult thing all of us don't like modification um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having keeping multiple savings account however there's a substantial amount of complexity opts for establishing a bank account maintaining it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific individuals so the intricacy is huge however I believe the sincere answer is change um individuals have not had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to track and this approach does posture numerous challenges um so Johnny could you inform us about those difficulties yeah of course so there's a range right there is so
I simply did you switched our Enterprise 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 Global employees you should have a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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