Find out more about Papaya Global Address ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and dependable method of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app streamlines my payroll procedure, conserving me a substantial amount of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
The Staff member Website provides staff members with the capability to gain access to and view crucial 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 provide competitive advantages bundles to international workers no matter the variety of employees in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional advantages service providers in every country, develop regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall employment costs dispersed per location, total work costs per cycle and far more.
Worldwide, I have actually shown management and tactical know-how in directing large-scale populations of over 100,000 staff members across 170 nations. Presently, I am responsible for managing payroll strategies, as discussed by Mark. My function includes managing and developing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce 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 present himself. Good day to all, despite your place. It's a pleasure to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and chose to type of make a real go at that over the last 5 or six years where I have actually sort of had a variety of different roles on the supplier side and likewise on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind 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 originates 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 drizzling here it's very extremely gloomy and I wish I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies preserve different
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex difficulty for services operating globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to optimize working capital, and discover how streamlining global payroll payments can change them from a challenging task into a tactical asset.
Handling payroll globally is an overwhelming job due to numerous regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of staff members and companies adds to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often lead to manual procedures, information silos, and a lack of integration, causing disparities and inadequacies. Regardless of residing in an age of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to offer insights and options to streamline and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a company invests in global payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of global services have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors inadequately interacted hires and terminations in addition to absence management and system setups and after that when you round it all off and the data is shipped to the incorrect location the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they rely on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're making payments to workers or otherwise that's a great concern I always throw this back and state what is it what does not need to be consisted of ideal and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look best ultimately constructing a knowledge base is absolutely important however all over you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type 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 essential and technology is allowing us to type of progress 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 absolutely important that payroll and finance groups work closer together than ever um I'm always astonished when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market 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 individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on well-being and the settlement landscape is becoming increasingly complex. Businesses are continuously introducing new advantages and payment options, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's technically advanced age, there's no justification for keeping cumbersome treatments. Payroll, the business's biggest expenditure, need to be processed correctly and on time. Even minor delays can negatively affect employees' well-being and have significant consequences. Therefore, it's crucial to focus on precise and timely payments.
payroll team get um so I'm unsure anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle we all hear about it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external deem 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 International Payments first payroll payment solution is a fantastic first step um offering an end-to-end payroll service for your staff members internationally once again I believe is another substantial um process once again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely essential to success success of organizations and reducing the variety of tools platforms and checking account they require for their International 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've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone quite where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyway we understand 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 simple as possible for everybody that's involved in those procedures and likewise so picture sorry I'm just I was just gon na say think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and really see what was going on and type of shot to get back to everyone so carrying on appearance why do business select to main separate checking account there are companies out there doing exactly this for particular countries and I have actually worked in a company or numerous organizations doing precisely that I can say it does not always feel effective and it does create more work I understand we're not intentionally doing that we're not developing additional work for any person where we don't have to and anybody that's handling 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 believe numerous factors one is it's the requirement I think individuals have got so used to we require a new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a variety I believe this is a procedure that requires looking at it requires altering but eventually individuals are extremely stuck with what they're familiar
with best um change is a difficult thing we all don't like modification um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having maintaining several bank accounts however there's a huge amount of complexity goes with setting up a checking account maintaining it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is big but I believe the sincere response is change um people haven't been able to change or have not had always the knowledge to really make that change into alternate Solutions other than opening a savings account I think you've hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change but we've 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 could nearly be figured out to be the next Century or two there is a lot to monitor and this technique does posture a number of obstacles um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I recently made a change 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 gained another CFO, and with this enhanced ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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