Find out more about Papaya Global Bosnia And Herzegovina ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and trustworthy technique of making payments to our 10,000 workers worldwide.}
The innovative worldwide payroll management app streamlines my payroll procedure, conserving me a substantial quantity of time monthly. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Employee Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive benefits plans to international employees despite the variety of workers in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source local advantages companies in every country, create local accounts and have a minimum number of staff members.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall work expenses dispersed per area, total employment costs per cycle and far more.
Internationally, I have demonstrated management and tactical expertise in assisting massive populations of over 100,000 staff members across 170 countries. Currently, I am responsible for managing payroll methods, as mentioned by Mark. My role involves handling and establishing external collaborations, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to fulfill you and thank you for your important 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 industry, I have actually concentrated on payroll and payment services for the past seven years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've type of had a variety of various functions 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 very much for your time everyone all right thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes 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 raining here it's really very dreary and I wish I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why business keep separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of keeping different bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex obstacle for companies running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, discover how companies forecast payroll expenses to enhance working capital, and discover how streamlining international payroll payments can transform them from a burdensome task into a strategic possession.
Handling payroll worldwide is a complicated task due to numerous regulations, compliance requirements, information security concerns, and banking rules. The large variety of workers and organizations adds to the intricacy, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems frequently lead to manual procedures, data silos, and an absence of combination, resulting in inconsistencies and inefficiencies. Regardless of residing in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to supply insights and options to simplify and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of an image they see a lack of exposure also encompasses payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide services have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors poorly interacted hires and terminations along with lack management and system configurations and then when you round everything off and the data is delivered to the wrong place the average 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 required several 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 difficulties business face when they're paying to employees or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't require to be included right and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 customer's own in-country account so there's complexity any place you look best ultimately building a knowledge base is definitely important however everywhere you look with payroll payment they are like very 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 believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to sort of move forward with that it likewise also to add to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely vital that payroll and financing teams work better together than ever um I'm always amazed when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not 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 typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to add to sort of the level of complexity there's more and more advantages being organ or being used by companies across the world so once again you're simply wanting to add more and more payments to this currently intricate landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or genuine challenging kind of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding information into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to produce additional 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 an era of tech and a period that you understand that we are operating in today there is no reason why we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single biggest liability that any organization has from an expense perspective from an impact viewpoint on workers it is absolutely critical that it's done properly and on time so what we mean 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 damaging impact on people's wellness and numerous other aspects if people aren't paid uh I have actually always been impressed entering into this Market sort of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done correctly so leveraging the very first Global Payments first payroll payment option is a terrific first step um supplying an end-to-end payroll service for your employees internationally again I think is another huge um process once again lining up and ensuring you have standardization Global procedures all of those things are definitely crucial to success success of businesses and reducing the number of tools platforms and checking account they need 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 ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone rather where they're implied to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 easy as possible for everybody that's associated with those processes and likewise so picture sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing job trying to clean all those up for sure oh definitely I can't imagine 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 actually see what was going on and type of shot to get back to everybody so proceeding appearance why do business choose to main separate savings account there are services out there doing precisely this for specific countries and I have actually operated in a company or many organizations doing exactly that I can say it does not always feel efficient and it does create more work I know we're not deliberately doing that we're not creating additional work for any person where we do not need to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the standard I believe people have got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I believe this is a process that requires taking a look at it requires changing however ultimately people are extremely stuck to what they recognize
with ideal um modification is a challenging thing all of us do not like change um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having maintaining numerous bank accounts but there's a big quantity of intricacy chooses establishing a checking account maintaining it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private people so the intricacy is huge but I believe the truthful answer is modification um people haven't had the ability to alter or have not had always the understanding to actually make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or two there is a lot to track and this approach does position a number of difficulties um so Johnny might you tell us about those difficulties 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you deserve a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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