Find out more about Papaya Global Payroll Submit Time ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to handling payments. This provides us with a secure and reputable approach of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app improves my payroll procedure, saving me a considerable quantity of time every month. With its easy to use interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
The Worker Portal supplies staff members with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Benefits Administration
Papaya Global assists business use competitive advantages packages to global staff members regardless of the variety of workers in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source regional benefits service providers in every nation, develop local accounts and have a minimum number of workers.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall work expenses distributed per area, overall employment costs per cycle and much more.
Internationally, I have demonstrated leadership and strategic know-how in guiding massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for overseeing payroll methods, as pointed out by Mark. My function involves handling and establishing external collaborations, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for a lot of influential business in the world we supply payroll payments and workforce management to all employee enters over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon good evening depending on where you remain in the world it's charming to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've sort of had a variety of different roles on the company side and likewise on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just give 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 kind of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely dreary and I wish I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why business preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a tactical property uh we'll likewise discuss a wrap-up which should leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on transferring 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 intricate International companies are looking to discover Solutions and new methods to improve procedures particularly from a payroll and cross-border payment standpoint numerous organizations preserve different savings account just for payroll while some have multiple accounts in various nations does it make sense for business to maintain different bank accounts in some cases in various countries it does but just for payroll is there a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international companies improve the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to optimize working capital, and find how streamlining global payroll payments can transform them from a difficult task into a tactical asset.
Managing payroll internationally is a complicated job due to numerous guidelines, compliance requirements, information security concerns, and banking rules. The large variety of workers and businesses adds to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems often lead to manual processes, information silos, and a lack of integration, resulting in inconsistencies and inefficiencies. Regardless of living in a period of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to provide insights and options to streamline and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a service invests in international payroll the less of an image they see an absence of visibility also extends to payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the transaction nearly half of global companies have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations along with absence management and system configurations and then when you round it all off and the data is shipped to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they depend on the essential multiple processes systems and partners it is just not possible so Johnny from a payments point of view 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 great concern I constantly toss this back and state what is it what doesn't require to be included ideal and what does
it require to be thought of there's varying Bank details 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity anywhere you look right eventually building a knowledge base is absolutely vital however all over you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and innovation is permitting us to kind of progress with that it also also to add to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and finance teams work better together than ever um I'm constantly impressed when individuals 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 occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of crucial to add to kind of the level of intricacy there's increasingly more advantages being organ or being provided by businesses across the world so again you're simply wanting to add a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine difficulties or real challenging type of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a number of years I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding details into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce extra handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single biggest liability that any company has from a cost point of view from an impact viewpoint on staff members it is absolutely vital that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the greatest harmful effect on individuals's well-being and numerous other aspects if individuals aren't paid uh I have actually always been surprised coming into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this kind of webinar has 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 goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done correctly so leveraging the very first Global Payments first payroll payment service is a fantastic first step um offering an end-to-end payroll solution for your employees globally once again I think is another huge um process again aligning and guaranteeing you have standardization International procedures all of those things are definitely key to success success of organizations and reducing the number of tools platforms and checking account they require for their Global 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've never ever had a hundred countless 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 rather where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyhow we understand how how important 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 simple as possible for everyone that's associated with those processes and likewise so think of sorry I'm just I was simply gon na state think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job trying to clean up all those up for sure oh definitely 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 actually see what was going on and sort of shot to return to everyone so moving on appearance why do companies pick to primary separate checking account there are companies out there doing precisely this for particular countries and I have actually worked in a company or numerous organizations doing exactly that I can say it doesn't always feel effective and it does develop more work I understand we're not deliberately doing that we're not creating extra work for anybody 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 amount that we are I believe many factors one is it's the requirement I believe individuals have actually got so utilized to we require a brand-new savings account we open an entity and rightly so you need 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 actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I think this is a procedure that requires looking at it needs altering but eventually individuals are very stuck with what they're familiar
with best um modification is a difficult thing we all do not like modification um so I think it's just sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having maintaining numerous savings account but there's a big quantity of intricacy opts for setting up a savings account keeping it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for private individuals so the complexity is substantial but I believe the honest response is modification um people have not had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could almost be identified to be the next Century or two there is a lot to monitor and this approach does posture numerous obstacles um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide 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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