Find out more about Papaya Global Customer Success Manager ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to managing payments. This offers us with a secure and reputable technique of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and professionals
Employee Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and work documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to global staff members no matter the variety of employees in the company. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source regional benefits companies in every country, produce regional accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, overall work expenses dispersed per location, overall employment costs per cycle and far more.
Worldwide, I have actually shown leadership and tactical proficiency in guiding massive populations of over 100,000 staff members throughout 170 nations. Presently, I am responsible for overseeing payroll strategies, as discussed by Mark. My role involves managing and developing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for a lot of influential companies on the planet we provide payroll payments and labor force management to all employee key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon excellent evening depending upon where you are in the world it's beautiful to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually kind of had a variety of different roles on the service provider side and also on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds approximately 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 fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely uninspiring and I want I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies keep separate
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly useful for international companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of preserving different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic asset for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex difficulty for organizations running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how companies forecast payroll costs to enhance working capital, and discover how streamlining international payroll payments can change them from a burdensome job into a tactical asset.
Managing payroll internationally is an overwhelming job due to different policies, compliance requirements, information security concerns, and banking rules. The sheer number of staff members and services contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and a lack of integration, causing disparities and ineffectiveness. In spite of living in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to provide insights and options to streamline and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that provides me sleepless nights and rather honestly the more a service spends on global payroll the less of a photo they see an absence of visibility also reaches payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the transaction almost half of international businesses 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 mistakes are due to time reporting bad HCM information data entry mistakes improperly communicated hires and terminations as well as lack 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 an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties company face when they're paying to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what doesn't require to be included right and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 intricacy any place you look ideal ultimately constructing a knowledge base is absolutely important however everywhere you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you take a 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 permitting us to kind of progress with that it also as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm always astonished when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more crucial to contribute to type of the level of complexity there's a growing number of benefits being organ or being offered by services throughout the world so again you're simply seeking to add more and more payments to this currently complex landscape so if you sort 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 genuine obstacles or real tough type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments operates 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 handling the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we operate in they just make them more prompt they make them less effective and they do not make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason we are still making this as hard as it requires to be concurred and rightly as you said payroll is the single biggest liability that any company has from an expense point of view from an effect perspective on staff members it is definitely vital that it's done correctly 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 harmful impact on individuals's wellness and numerous other factors if individuals aren't paid uh I've always been amazed entering this Market sort of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just see when things fail. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally as well. For that reason, it is important to make sure that jobs like Wi-Fi International and other crucial matters are done properly. Using the very first Global Payments first payroll payment option is a fantastic initial step towards providing a thorough payroll service for workers worldwide. Standardization, global processes, and lowering the number of tools, platforms, and bank accounts necessary for worldwide payroll are essential factors in attaining organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as prepared. Eventually, we do not do it for the appreciation.
anyhow we know how how essential 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 easy as possible for everyone that's associated with those processes and also so picture sorry I'm simply I was just gon na state think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and really see what was going on and kind of shot to return to everyone so carrying on look why do companies pick to primary different bank accounts there are organizations out there doing precisely this for particular nations and I've worked in a business or numerous services doing precisely that I can say it doesn't constantly feel effective and it does create more work I understand we're not deliberately doing that we're not producing extra work for anyone where we do not need to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think numerous factors one is it's the requirement I think people have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have adopted and continue to do over years and years passed by to add to that individuals have looked 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 procedure that requires taking a look at it requires altering however eventually individuals are extremely stuck with what they're familiar
with right um change is a challenging thing we all don't like change um so I think it's just kind 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 advantages of having maintaining numerous bank accounts however there's a substantial quantity of complexity goes with establishing a savings account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific people so the complexity is substantial however I think the honest response is modification um individuals have not had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've constantly 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 understand what might practically be figured out to be the next Century approximately there is a lot to keep an eye on and this method does present numerous obstacles um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using 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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