Find out more about Papaya Global Costa Rica ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and secure and trusted approach of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Staff member Portal supplies staff members with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps business provide competitive benefits packages to global workers regardless of the number of staff members in the company. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional advantages suppliers in every nation, produce regional accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, overall employment costs distributed per area, total work expenses per cycle and much more.
environments across the globe I supplied management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise customers and services as well as acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a satisfaction to meet you and thank you for your important time. As Ian mentioned, 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 solutions for the past seven years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I have actually kind of had a range of various roles on the supplier side and also on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather intriguing 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 originates from and I really do hope it's much sunnier than it is 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 really gloomy and I want I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies preserve different
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is especially beneficial for global organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of keeping different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and prompt payroll payments is a complex difficulty for companies operating globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to enhance working capital, and discover how simplifying international payroll payments can transform them from a burdensome task into a tactical property.
Handling payroll globally is an overwhelming task due to various policies, compliance requirements, information security concerns, and banking guidelines. The large variety of workers and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and a lack of combination, causing inconsistencies and inefficiencies. In spite of residing in an era of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to supply insights and services to simplify and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more a company spends on international payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of global organizations have expressed 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 because of time reporting poor HCM data data entry errors improperly interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the data is delivered to the incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently 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 requires to be factored into the difficulties business face when they're making payments to employees or otherwise that's a great concern I always throw this back and say what is it what does not require to be consisted of right 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 need 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 eventually developing a knowledge base is absolutely vital but all over you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort 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 permitting us to kind of move on with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely vital that payroll and financing teams work better together than ever um I'm always amazed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often 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 people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high value on wellness and the compensation landscape is ending up being significantly elaborate. Businesses are continually presenting new advantages and payment alternatives, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into different groups, which can result in inadequacies and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's technically sophisticated era, there's no validation for keeping troublesome treatments. Payroll, the business's most significant expense, should be processed correctly and on time. Even slight delays can adversely affect staff members' wellness and have far-reaching effects. For that reason, it's vital to prioritize precise and prompt payments.
payroll team get um so I'm not exactly sure anyone on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely vital that all of this stuff is done correctly so leveraging the first International Payments first payroll payment solution is a fantastic initial step um supplying an end-to-end payroll option for your employees globally again I think is another huge um procedure again aligning and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of companies and lowering the number of tools platforms and checking account they require for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone quite where they're meant to be um I do not think any of us are really doing that for for the thanks
anyhow we understand 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 everybody that's associated with those procedures and also so think of sorry I'm just I was just gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture 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 certainly be a fascinating task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and really see what was going on and type of shot to return to everyone so moving on appearance why do business select to main different bank accounts there are organizations out there doing precisely this for particular countries and I've operated in a business or numerous services doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not developing extra work for anyone where we do not have to and anyone that's managing 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 many factors one is it's the standard I believe people have actually got so utilized to we need a brand-new bank account we open an entity and rightly so you require 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 requirement and the norm the people have embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and many other ways um to to type of do it so I think there's a variety I think this is a process that needs looking at it needs changing but ultimately people are extremely stuck to what they're familiar
with ideal um change is a hard thing we all do not like modification um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having maintaining numerous checking account but there's a big amount of complexity opts for establishing a bank account keeping it ensuring it can send out International transfers ensuring it's established with the best user accesses for specific people so the complexity is substantial but I think the honest answer is modification um people have not been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter 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 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 approach does present a number of challenges um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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