Find out more about Https Calendly Com Michael Nierstedt Papaya Global Hourly Payroll ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a secure and reputable technique of paying to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
The Staff member Website supplies employees with the ability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global helps companies use competitive benefits plans to global staff members no matter the number of employees in the company. The company can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source regional benefits providers in every country, develop local accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, total employment expenses dispersed per area, total work expenses per cycle and a lot more.
Internationally, I have actually demonstrated management and strategic knowledge in directing large-scale populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for supervising payroll strategies, as pointed out by Mark. My function involves managing and developing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment 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 years of experience in the payments market, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've type of had a range of various roles on the service provider side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply give everyone another couple 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 quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really very dreary and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why business keep separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly useful for global companies with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, find out how companies forecast payroll expenses to enhance working capital, and discover how improving global payroll payments can transform them from a difficult job into a tactical possession.
Managing payroll internationally is an overwhelming task due to different regulations, compliance requirements, information security issues, and banking guidelines. The large variety of staff members and businesses adds to the complexity, with an approximated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and a lack of integration, resulting in inconsistencies and inadequacies. In spite of living in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to supply insights and solutions to simplify 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 companies say they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more a company spends on global payroll the less of a picture they see an absence of visibility also encompasses payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide organizations have actually revealed that they do not 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 errors inadequately interacted hires and terminations along with lack management and system setups and then when you round everything off and the data is delivered to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they count on the necessary numerous procedures 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 obstacles organization face when they're paying to employees or otherwise that's a good concern I always throw this back and say what is it what does not need to be consisted of ideal and what does
it need to be thought about there's differing Bank information 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 capabilities 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 best ultimately constructing a knowledge base is absolutely vital but everywhere 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 kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to kind of move forward with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is absolutely essential that payroll and finance teams work more detailed together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more essential to add to sort of the level of complexity there's more and more advantages being organ or being used by companies throughout the world so again you're just wanting to include increasingly more payments to this already intricate landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine difficult kind of pay uses to play to pay people I think yeah I imply over the last well yeah a couple of years I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding information into the next function as it were that's really managing the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to create extra handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and a period that you understand that we are operating in today there is no reason that we are still making this as difficult as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any company has from a cost viewpoint from an effect viewpoint on workers it is definitely crucial that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive result on people's wellness and many other elements if individuals aren't paid uh I have actually constantly been astonished entering this Market type of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only see when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally also. For that reason, it is necessary to ensure that jobs like Wi-Fi Global and other essential matters are done correctly. Utilizing the very first Global Payments very first payroll payment option is a terrific initial step towards providing a detailed payroll solution for workers worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and savings account required for global payroll are crucial factors in achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things do not go as prepared. Ultimately, we do not do it for the appreciation.
anyway we know how how important a function it is which'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 procedures and likewise so picture sorry I'm just I was just gon na state picture the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that numerous thank you keeps in mind um I mean 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 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 in fact see what was going on and kind of try to return to everybody so moving on look why do business select to main different checking account there are companies out there doing exactly this for specific nations and I have actually worked in an organization or numerous services doing precisely that I can say it does not constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not developing additional work for any person where we don't have to and any person that's handling 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 amount that we are I believe many reasons one is it's the standard I believe people have got so utilized to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have 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 needs taking a look at it needs altering but eventually individuals are really stuck to what they're familiar
with ideal um modification is a hard thing all of us do not like modification um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having keeping numerous checking account but there's a huge quantity of complexity goes with establishing a savings account maintaining it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the complexity is substantial however I think the truthful response is modification um people haven't had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to keep track of and this approach does present a number of difficulties um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I simply 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 workers you should have a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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