Find out more about Papaya Global Payroll Timing ... 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 actually gotten a separate Chief Financial Officer particularly committed to handling payments. This offers us with a safe and dependable technique of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app streamlines my payroll process, saving me a substantial quantity of time every month. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Worker Website
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax statements and work documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive benefits plans to worldwide employees no matter the variety of staff members in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits providers in every country, produce local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total employment costs dispersed per location, overall work costs per cycle and much more.
Internationally, I have actually demonstrated leadership and strategic know-how in guiding massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for supervising payroll strategies, as pointed out by Mark. My role includes managing and developing external collaborations, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. 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 complexities and challenges of this field have constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually kind of had a range of different roles on the supplier side and also on the vendor side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everyone originates from and I actually 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 drizzling here it's very very gloomy and I wish I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business keep different
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is particularly helpful for worldwide organizations with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined service. 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 likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for services running worldwide. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to optimize working capital, and find how improving worldwide payroll payments can transform them from a difficult task into a tactical property.
Handling payroll internationally is a complicated task due to different guidelines, compliance requirements, information security concerns, and banking rules. The large number of workers and businesses adds to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems typically result in manual procedures, data silos, and a lack of combination, causing inconsistencies and ineffectiveness. Despite living in a period of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to offer insights and options to streamline 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 businesses state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a company invests in global payroll the less of a photo they see an absence of presence also encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide businesses have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes inadequately communicated hires and terminations as well as lack management and system setups and after that when you round it all off and the data is shipped to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they depend on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges organization face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and say what is it what does not need to be consisted of right 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 amount of time 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 intricacy wherever you look right eventually constructing a knowledge base is definitely vital but all over you look with payroll payment they are like super payments no if however 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 innovation is allowing us to type of move forward with that it also also to add to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and financing groups work closer together than ever um I'm constantly amazed when individuals state 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 divide the payroll payment from estimation 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 process it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on wellness and the compensation landscape is becoming significantly complex. Companies are continuously introducing new advantages and payment choices, which adds to the total complexity. Big corporations frequently divide their payroll and payment processing into different teams, which can result in inadequacies and traffic jams. In my viewpoint, this does not need to be the case. In today's technologically innovative age, there's no validation for preserving troublesome procedures. Payroll, the business's most significant expenditure, should be processed correctly and on time. Even slight delays can negatively affect workers' well-being and have far-reaching repercussions. Therefore, it's vital to prioritize precise and timely payments.
payroll group get um so I'm not sure anyone on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle we all find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment solution is a great initial step um providing an end-to-end payroll solution for your workers globally again I believe is another huge um process once again lining up and guaranteeing you have standardization Global processes all of those things are absolutely essential to success success of organizations and decreasing the variety of tools platforms and checking account they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't 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 rather where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we know 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 involved in those processes and also so think of sorry I'm simply I was simply gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing 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 need days of the week to attempt to browse them and really see what was going on and kind of shot to get back to everybody so proceeding appearance why do business pick to main different checking account there are organizations out there doing precisely this for particular countries and I've worked in an organization or numerous businesses doing precisely that I can say it does not constantly feel effective and it does create more work I know we're not deliberately doing that we're not producing additional work for anybody where we do not need to and any person 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 think lots of factors one is it's the requirement I think people have actually got so utilized to we require a new savings account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have 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 lots of other ways um to to sort of do it so I think there's a variety I think this is a procedure that needs taking a look at it needs changing however eventually people are extremely stuck to what they recognize
with ideal um modification is a difficult thing all of us do not like modification um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having maintaining multiple savings account but there's a big amount of intricacy opts for establishing a bank account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is huge but I think the honest answer is modification um individuals have not had the ability to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter however we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might practically be figured out to be the next Century or two there is a lot to track and this method does position several obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this boosted capability, I have successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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