Find out more about Xero Payroll Papaya Global ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to managing payments. This provides us with a secure and trustworthy method of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Staff member Website offers workers with the ability to access and view important files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to global workers regardless of the number of employees in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source regional advantages service providers in every country, develop local accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work expenses dispersed per location, total employment costs per cycle and a lot more.
Globally, I have demonstrated management and strategic know-how in guiding massive populations of over 100,000 staff members across 170 countries. Presently, I are accountable for overseeing payroll techniques, as mentioned by Mark. My function includes managing 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 supplier.
As a worldwide business, we are honored to be consisted of 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 mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I've sort of had a variety of different roles on the supplier side and likewise on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone 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 raining here it's really extremely dreary and I wish I was elsewhere at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya International payroll payments as a strategic asset uh we'll likewise discuss a wrap-up which needs to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of common and managing them becomes a growing number of complex Global companies are looking to find Solutions and brand-new ways to enhance processes especially from a payroll and cross-border payment perspective many companies keep separate checking account just for payroll while some have numerous accounts in various countries does it make good sense for companies to maintain different checking account in some cases in various countries it does but just for payroll exists a better method what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies simplify the episode complex procedures of
Guaranteeing accurate, effective, and timely payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, find out how business anticipate payroll expenses to optimize working capital, and find how improving international payroll payments can transform them from a troublesome task into a strategic property.
Handling payroll internationally is a challenging job due to numerous policies, compliance requirements, information security concerns, and banking rules. The large number of workers and services adds to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. In spite of residing in a period of technological developments, 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 supply insights and services to streamline and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that gives me sleep deprived nights and rather frankly the more a business spends on global payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide 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 mistakes are due to time reporting bad HCM data data entry errors badly interacted hires and terminations in addition to absence management and system configurations and then when you round all of it off and the data is delivered to the incorrect place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they rely on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're making payments to workers or otherwise that's a good concern I constantly toss this back and say what is it what does not require to be included best and what does
it need to be thought of there's differing Bank details 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they are like incredibly payments no if however some children 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is allowing us to kind of move on with that it also too to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely vital that payroll and finance groups work closer together than ever um I'm constantly impressed when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work 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 process it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on well-being and the payment landscape is ending up being progressively complex. Organizations are continually presenting brand-new benefits and payment options, which adds to the total complexity. Big corporations frequently divide their payroll and payment processing into separate groups, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't need to hold true. In today's technologically advanced era, there's no reason for keeping cumbersome treatments. Payroll, the company's biggest expenditure, must be processed correctly and on time. Even slight hold-ups can adversely impact staff members' wellness and have significant consequences. Therefore, it's important to focus on precise and prompt payments.
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only notice when things go wrong. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally as well. For that reason, it is important to make sure that jobs like Wi-Fi International and other crucial matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment service is a terrific initial step towards supplying a thorough payroll solution for staff members worldwide. Standardization, worldwide processes, and minimizing the number of tools, platforms, and bank accounts essential for international payroll are key consider attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as prepared. Eventually, we don't do it for the thankfulness.
anyway we know how how crucial 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 people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that many thank you keeps in mind um I mean 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 absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and sort of try to return to everyone so proceeding appearance why do business pick to main separate checking account there are organizations out there doing precisely this for specific nations and I've worked in a business or lots of companies doing exactly 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 creating additional work for anyone where we do not need to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the standard I think individuals have got so used 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 think it's just been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I think this is a process that requires taking a look at it requires changing however eventually people are really stuck with what they recognize
with right um change is a hard thing we all don't like modification um so I believe it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having preserving several savings account but there's a huge amount of intricacy goes with establishing a savings account preserving it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is huge however I think the sincere response is modification um people haven't been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change but we have actually always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century or two there is a lot to track and this technique does position a number of obstacles um so Johnny could you inform us about those obstacles yeah of course so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of 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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