Find out more about Papaya Global Ecuador ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to handling payments. This provides us with a safe and reputable method of making payments to our 10,000 employees worldwide.}
The advanced global payroll management app streamlines my payroll procedure, conserving me a significant amount of time each month. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Employee Portal
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive advantages bundles to worldwide workers despite the number of workers in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source regional benefits companies in every nation, develop local accounts and have a minimum number of employees.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall employment costs distributed per area, total work expenses per cycle and much more.
Worldwide, I have actually shown leadership and strategic competence in assisting massive populations of over 100,000 employees across 170 countries. Presently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My function includes handling and developing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We focus on offering payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a satisfaction to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've sort of had a variety of various roles on the provider side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so 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 already simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very extremely dreary and I wish I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business preserve different
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical property 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 sure accurate, efficient, and timely payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a troublesome task into a tactical possession.
Managing payroll globally is a challenging task due to numerous policies, compliance requirements, information security concerns, and banking guidelines. The large number of employees and services contributes to the complexity, with an estimated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual procedures, data silos, and a lack of combination, resulting in disparities and inadequacies. Regardless of residing in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to provide insights and options to streamline and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that offers me sleepless nights and rather frankly the more a business spends on worldwide payroll the less of a photo they see an absence of visibility also extends to payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide services have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes improperly interacted hires and terminations along with lack management and system configurations and then when you round all of it off and the data is delivered to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they rely on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're paying to staff members or otherwise that's a great concern I always toss this back and say what is it what does not require to be consisted of best and what does
it need to be thought of there's differing 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 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 anywhere you look right ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they resemble super payments no if but some infants 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 think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to kind of move forward with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work better together than ever um I'm constantly astonished when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high value on well-being and the settlement landscape is becoming progressively elaborate. Businesses are continuously introducing brand-new advantages and payment options, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my opinion, this does not need to be the case. In today's highly advanced era, there's no validation for maintaining cumbersome treatments. Payroll, the business's most significant cost, should be processed correctly and on time. Even slight hold-ups can negatively impact workers' wellness and have significant consequences. Therefore, it's important to focus on precise and prompt payments.
payroll group get um so I'm not sure anyone on this sort of webinar has actually 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 workers or not um however eventually payroll is such an important cycle all of us become aware of it when it fails everyone 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 also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done correctly so leveraging the first International Payments very first payroll payment solution is an excellent primary step um supplying an end-to-end payroll option for your employees globally once again I think is another big um process again aligning and ensuring you have standardization Global processes all of those things are definitely key to success success of services and minimizing the variety of tools platforms and bank accounts they require for their Global 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've never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know 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 simple as possible for everybody that's associated with those processes and also so envision sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions imagine getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and in fact see what was going on and kind of shot to get back to everyone so moving on appearance why do business select to primary different checking account there are businesses out there doing exactly this for particular countries and I have actually worked in a company or lots of businesses doing precisely that I can say it does not always feel effective and it does produce more work I know we're not purposely doing that we're not developing additional work for anyone where we do not need to and any person that's dealing with 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 quantity that we are I think lots of reasons one is it's the requirement I believe individuals have got so utilized to we need a new bank account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by 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 think this is a process that needs taking a look at it needs changing however eventually individuals are very stuck to what they recognize
with best um change is a difficult thing we all don't like change um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having preserving numerous bank accounts but there's a big quantity of complexity chooses establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the right user accesses for specific people so the complexity is big however I believe the sincere response is change um people haven't had the ability to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might nearly be determined to be the next Century or two there is a lot to monitor and this method does position several challenges 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 deserve a corner office with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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