Find out more about Papaya Global Payroll Set Up Departments ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a protected and trustworthy approach of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Employee Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive advantages bundles to worldwide employees regardless of the number of staff members in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source local advantages providers in every nation, produce local accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, overall work expenses dispersed per area, overall work expenses per cycle and a lot more.
Worldwide, I have shown management and strategic competence in guiding large-scale populations of over 100,000 staff members across 170 countries. Currently, I am responsible for supervising payroll methods, as pointed out by Mark. My function involves handling and developing external partnerships, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for most influential companies on the planet we provide payroll payments and labor force management to all employee types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon great evening depending on where you remain in the world it's charming to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I have actually type of had a variety of various roles on the service provider side and also on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely gloomy and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies preserve separate
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly useful for global companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different checking account for payroll in various countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to enhance working capital, and discover how simplifying international payroll payments can change them from a troublesome task into a tactical asset.
Handling payroll worldwide is a difficult task due to numerous regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of staff members and organizations adds to the complexity, with an approximated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and a lack of combination, causing inconsistencies and inadequacies. Despite living in a period of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to supply insights and services to streamline and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more a company invests in worldwide payroll the less of a photo they see a lack of presence also encompasses payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of global companies have 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 bad HCM information data entry mistakes inadequately communicated hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the information is delivered to the incorrect place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they rely on the essential numerous 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 obstacles service face when they're paying to staff members or otherwise that's a good question I always toss this back and say what is it what doesn't need 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 have to pay from the consumer's own in-country account so there's complexity anywhere you look ideal ultimately constructing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble super payments no if however some babies 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 recognition that payroll payments are absolutely essential and technology is permitting us to type of move forward with that it also as well to add to that payroll and financing require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely necessary that payroll and financing groups work more detailed together than ever um I'm always surprised when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on wellness and the settlement landscape is ending up being increasingly detailed. Businesses are constantly introducing new benefits and payment options, which contributes to the total complexity. Large corporations typically divide their payroll and payment processing into different teams, which can cause inadequacies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technologically sophisticated era, there's no justification for maintaining cumbersome procedures. Payroll, the company's biggest expenditure, need to be processed properly and on time. Even minor hold-ups can negatively impact workers' wellness and have far-reaching repercussions. For that reason, it's crucial to prioritize precise and prompt payments.
payroll team get um so I'm not sure anyone on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle we all become aware of it when it fails everyone jumps up and down when it fails but when it goes right it's simply 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 absolutely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment option is an excellent first step um supplying an end-to-end payroll option for your workers worldwide again I believe is another huge um process once again lining up and ensuring you have standardization International processes all of those things are absolutely key to success success of services and lowering the variety of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're meant to be um I do not think any of us are actually doing that for for the thanks
anyway 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 easy as possible for everyone that's involved in those processes and likewise so imagine sorry I'm simply I was just gon na state think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task trying to clean up all those up for sure oh definitely 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 try to look through them and in fact see what was going on and type of try to return to everyone so proceeding appearance why do business pick to main different savings account there are organizations out there doing precisely this for specific nations and I have actually operated in an organization or numerous organizations doing exactly that I can say it does not constantly feel efficient and it does develop more work I know we're not purposely doing that we're not creating extra work for anyone 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 numerous factors one is it's the requirement I think individuals have actually got so used to we require a new checking account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm 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 lots of other ways um to to type of do it so I believe there's a variety I think this is a procedure that needs looking at it requires altering however eventually people are very stuck to what they're familiar
with ideal um change is a tough thing all of us don't like change um so I think it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having preserving several checking account but there's a big amount of complexity opts for setting up a bank account keeping it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for individual individuals so the complexity is big however I believe the honest answer is modification um individuals have not had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions other than opening a checking account I believe you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change however we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be identified to be the next Century or two there is a lot to monitor and this approach does present a number of obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I just did you switched our Business 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 International employees you should have a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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