Find out more about Papaya Global Dominican Republic ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a secure and reputable method of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app simplifies my payroll process, saving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Worker Portal
Staff members have access to a Worker Website where they can view their pay slips, wage and tax declarations and employment files. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business provide competitive benefits packages to international employees despite the variety of employees in the company. The business can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source local advantages service providers in every nation, create regional accounts and have a minimum number of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total work costs distributed per place, overall employment expenses per cycle and much more.
environments around the world I offered management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business managing and structure external relationships supporting Enterprise clients and options in addition to acting as a consultant for those of you that don't understand who papaya Global is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of various roles on the company side and also on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing 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 everyone comes 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 drizzling here it's extremely really bleak and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business preserve separate
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of preserving different checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll bank account how business precisely forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of factors most importantly regulations compliance data security and banking rules then there are the large numbers they include more complexity the worldwide Labor force is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the standard payroll model there's typically an overwhelming number of various systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in big quantities and or really really fundamental there's no genuine consistency framework we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind whenever I I think
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 information in real time that's another number that provides me sleepless nights and rather frankly the more a business invests in worldwide payroll the less of an image they see a lack of exposure likewise reaches payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of global businesses have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes badly communicated hires and terminations along with absence management and system configurations and after that when you round everything off and the information is shipped to the incorrect location the average cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they depend on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles organization face when they're paying to workers or otherwise that's a good concern I always toss this back and say what is it what doesn't need to be included right and what does
it require to be thought about there's varying Bank details 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 consumer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is definitely critical but all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and technology is enabling us to type of progress with that it likewise too to add to that payroll and finance need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely vital that payroll and finance teams work better together than ever um I'm always surprised when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession 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 often 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 people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high worth on wellness and the payment landscape is becoming significantly intricate. Services are continuously introducing new advantages and payment options, which contributes to the total complexity. Large corporations typically divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technically innovative age, there's no reason for maintaining cumbersome treatments. Payroll, the business's greatest expense, should be processed properly and on time. Even minor hold-ups can negatively impact staff members' wellness and have significant consequences. Therefore, it's important to focus on accurate and prompt payments.
payroll group get um so I'm unsure anyone on this type of webinar has been told 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 however eventually payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think 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 things is absolutely important that all of this things is done properly so leveraging the first Global Payments first payroll payment option is a terrific first step um offering an end-to-end payroll option for your workers internationally again I think is another huge um procedure again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of businesses and minimizing the number of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not 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 in fact doing that for for the thanks
anyhow we know how how essential a role 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 everybody that's associated with those procedures and likewise so picture sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely 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 held true um you 'd require days of the week to attempt to look through them and in fact see what was going on and type of shot to return to everybody so proceeding appearance why do business select to primary separate checking account there are companies out there doing precisely this for specific nations and I have actually operated in a service or numerous businesses doing exactly that I can say it doesn't always feel effective and it does develop more work I know we're not intentionally doing that we're not producing extra work for any person where we don't need to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous factors one is it's the standard I believe people have got so used to we need a new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I believe this is a process that requires taking a look at it requires altering but ultimately individuals are really stuck with what they're familiar
with right um modification is a difficult thing we all don't like change um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having maintaining several savings account but there's a big quantity of complexity chooses establishing a checking account maintaining it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is big however I think the truthful response is change um people have not been able to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to change but we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying 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 position several obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I just 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 gotten another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 employees 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 better, considering your accomplishments.
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