Find out more about Papaya Global Costa Rica ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and trustworthy method of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app improves my payroll procedure, saving me a significant amount of time every month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Employee Website
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive advantages plans to worldwide staff members no matter the number of staff members in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source regional benefits suppliers in every nation, develop regional accounts and have a minimum number of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall employment expenses distributed per location, overall work costs per cycle and much more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business handling and building external relationships supporting Enterprise customers and options as well as functioning as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's an enjoyment to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment services for the past seven years. The intricacies and challenges of this field have actually always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I've type of had a variety of different functions on the company side and also on the supplier side from a payroll point of view so truly eagerly 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 number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I really 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 extremely very uninspiring and I wish I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies keep separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is especially beneficial for international organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and prompt payroll payments is a complex difficulty for organizations operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to enhance working capital, and discover how enhancing global payroll payments can transform them from a difficult job into a tactical possession.
Handling payroll worldwide is a complicated job due to numerous policies, compliance requirements, information security issues, and banking guidelines. The large variety of workers and organizations adds to the complexity, with an estimated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual procedures, information silos, and an absence of combination, causing disparities and ineffectiveness. Regardless of living in a period of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to offer insights and options to streamline and enhance global payroll payments.
about it to give you a concept 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 provides me sleepless nights and quite honestly the more a service invests in international payroll the less of a photo they see a lack of exposure likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global organizations have actually revealed 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 due to time reporting poor HCM data information entry errors improperly communicated hires and terminations along with absence management and system configurations and after that when you round everything off and the information is delivered to the wrong location the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they depend on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles company face when they're paying to staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't need to be included right and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 client's own in-country account so there's intricacy anywhere you look best ultimately constructing a knowledge base is absolutely vital 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 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 definitely basic and technology is allowing us to sort of move on with that it also also to contribute to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely important that payroll and finance groups work closer together than ever um I'm always impressed when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of important to contribute to type of the level of complexity there's more and more benefits being organ or being offered by businesses across the world so once again you're simply wanting to add a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or real difficult sort of pay uses to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would absolutely state that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding information into the next function as it were that's really managing the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to develop additional handoffs while doing sos that we run in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in a period 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 appropriately as you said payroll is the single greatest liability that any organization has from an expense point of view from an effect viewpoint on employees it is absolutely important 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 need to be done right it has the greatest harmful effect on individuals's wellness and many other elements if people aren't paid uh I have actually constantly been amazed entering this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle all of us become aware of it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe 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 vital that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment option is a terrific initial step um providing an end-to-end payroll solution for your staff members worldwide once again I think is another substantial um process once again lining up and guaranteeing you have standardization International processes all of those things are definitely essential to success success of businesses 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 have actually never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I do not think any of us are really doing that for for the thanks
anyhow we understand how how essential 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 simple as possible for everybody that's involved in those processes and also so envision sorry I'm just I was simply gon na say envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job trying to clean up all those up for sure oh definitely 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 check out them and actually see what was going on and type of shot to get back to everybody so proceeding appearance why do companies choose to main different checking account there are services out there doing exactly this for particular nations and I've worked in a company or lots of organizations doing exactly that I can say it doesn't constantly feel efficient and it does create more work I understand we're not intentionally doing that we're not creating additional work for anyone where we do not have 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 think many factors one is it's the standard I believe individuals have actually got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have 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 many other methods um to to type of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs altering but ultimately people are extremely stuck with what they're familiar
with best um modification is a challenging thing all of us do not like change um so I think it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having preserving several checking account however there's a big amount of intricacy chooses setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity is huge but I think the honest response is modification um people haven't had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change however we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might almost be identified to be the next Century or two there is a lot to keep track of and this method does pose 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 simply did you changed our Enterprise 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 are worthy of a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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