Find out more about Papaya Global Payroll Report ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a protected and trustworthy approach of paying to our 10,000 staff members worldwide.}
The advanced global payroll management app simplifies my payroll procedure, saving me a considerable quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Employee Website
Employees have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment documents. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive advantages packages to global staff members no matter the variety of employees in the business. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source local advantages companies in every nation, create regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total work expenses distributed per location, total employment expenses per cycle and a lot more.
Internationally, I have actually shown leadership and tactical expertise in assisting massive populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for supervising payroll strategies, as pointed out by Mark. My function includes managing and establishing external collaborations, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on offering payroll and labor force management services to employees 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, no matter your location. It's an enjoyment to fulfill you and thank you for your valuable 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 actually focused on payroll and payment options for the past seven years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of different functions on the supplier side and also on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds or two to join all of us 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 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 extremely very uninspiring and I wish I was elsewhere at this moment in time all right 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 handling International payroll why business preserve separate
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is especially useful for global organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for businesses operating worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, discover how business anticipate payroll expenses to enhance working capital, and find how improving global payroll payments can transform them from a challenging job into a tactical possession.
Handling payroll internationally is a complicated task due to various policies, compliance requirements, data security concerns, and banking rules. The large variety of employees and services contributes to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems often lead to manual processes, information silos, and a lack of combination, leading to inconsistencies and ineffectiveness. In spite of living in an age of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to provide insights and solutions to streamline and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization spends on global payroll the less of a photo they see a lack of visibility also encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of global organizations have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes improperly interacted hires and terminations in addition to lack management and system configurations and then when you round it all off and the data is delivered to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they rely on the necessary several 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 challenges service face when they're making payments to employees or otherwise that's a good concern I always throw this back and state what is it what does not need to be included right and what does
it need to be considered there's varying 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 capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link 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 sort of progress with that it also as well to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely imperative that payroll and finance groups work better together than ever um I'm always impressed when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically 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 however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on wellness and the payment landscape is becoming progressively complex. Businesses are constantly introducing new benefits and payment options, which contributes to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't have to be the case. In today's technologically innovative era, there's no justification for keeping cumbersome procedures. Payroll, the business's greatest expense, must be processed properly and on time. Even slight hold-ups can adversely impact staff members' wellness and have significant consequences. For that reason, it's vital to prioritize accurate and timely payments.
payroll team get um so I'm unsure anybody on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important 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 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 also like why WI-Fi Global why all of this things is definitely vital that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment service is a great primary step um offering an end-to-end payroll option for your workers internationally again I believe is another big um procedure once again lining up and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of organizations and reducing the variety of tools platforms and checking account they need for their Worldwide 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 expect 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 quite where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyhow we know 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 everybody that's involved in those processes and also so picture sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions picture getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task attempting to clean 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 need days of the week to try to check out them and actually see what was going on and sort of shot to get back to everybody so proceeding look why do business select to primary different checking account there are companies out there doing precisely this for particular nations and I have actually operated in a service or many services doing precisely that I can state it does not always feel efficient and it does create more work I know we're not purposely doing that we're not producing additional work for anyone where we do not have to and anybody that's managing that process 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 lots of reasons one is it's the standard I believe individuals have actually got so used to we need a new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to add to that people have 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 range I believe this is a process that requires taking a look at it requires altering however ultimately people are really stuck with what they're familiar
with best um change is a challenging thing we all don't like modification um so I believe it's just type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having maintaining numerous savings account however there's a huge quantity of complexity opts for establishing a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for individual individuals so the intricacy is substantial but I think the honest response is change um individuals have not been able to alter or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century or two there is a lot to keep an eye on and this approach does posture a number of difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this boosted capability, I have actually effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your achievements.
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