Find out more about Papaya Global Gdpr ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically devoted to managing payments. This provides us with a protected and trustworthy approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and professionals
Staff member Website
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment files. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business provide competitive advantages plans to global staff members despite the number of employees in the business. The business can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source local advantages suppliers in every country, create local accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work costs distributed per area, total employment expenses per cycle and a lot more.
environments across the globe I offered management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business managing and building external relationships supporting Enterprise clients and solutions in addition to acting 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 consisted of on the prominent Time 100 list of the most influential companies worldwide. We specialize in providing 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 place. It's a satisfaction to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to kind 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 functions on the service provider side and likewise on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely 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 wish I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is particularly helpful for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll costs to enhance working capital, and find how improving international payroll payments can change them from a difficult job into a strategic asset.
Managing payroll worldwide is a challenging task due to different regulations, compliance requirements, data security concerns, and banking rules. The large variety of staff members and organizations adds to the complexity, with an approximated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of integration, resulting in inconsistencies and inefficiencies. Regardless of residing in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to provide insights and solutions to simplify 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 businesses state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in worldwide payroll the less of a picture they see an absence of visibility likewise extends to payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of worldwide companies 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 mistakes badly interacted hires and terminations along with lack management and system configurations and then when you round everything off and the information is delivered to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they depend on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're paying to workers or otherwise that's an excellent question I constantly throw this back and state what is it what doesn't require to be consisted of ideal 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 country there's payment time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy wherever you look best eventually building a knowledge base is absolutely important but everywhere you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and innovation is enabling us to sort of move on with that it also as well to add to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely essential that payroll and finance teams work closer together than ever um I'm constantly astonished when people say I've split payroll and payment um if you walk 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 procedure it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to contribute to type of the level of complexity there's increasingly more advantages being organ or being provided by services across the world so once again you're simply looking to include increasingly more payments to this already intricate landscape so if you sort of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real difficulties or real difficult sort of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding details into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to create extra handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single greatest liability that any company has from a cost perspective from an impact viewpoint on employees it is definitely crucial 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 need to be done right it has the most significant damaging effect on people's well-being and numerous other aspects if people aren't paid uh I have actually always been surprised entering into this Market sort of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this kind of webinar has 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 staff members or not um but ultimately payroll is such an essential cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe 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 crucial that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment option is a fantastic initial step um supplying an end-to-end payroll option for your employees globally once again I think is another huge um process once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of organizations and minimizing the variety of tools platforms and savings 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 countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand how how important 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 everyone that's associated with those processes and likewise so picture sorry I'm simply I was just gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing task trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and actually see what was going on and type of try to return to everyone so moving on appearance why do companies choose to primary different bank accounts there are companies out there doing precisely this for particular nations and I've worked in a service or numerous organizations doing exactly that I can say it doesn't always feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating additional work for anyone where we don't need to and anybody 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 quantity that we are I think lots of reasons one is it's the requirement I think individuals have got so utilized to we require a brand-new checking account we open an entity and rightly so you need 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 requirement and the standard the people have embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires altering but ultimately individuals are extremely stuck with what they're familiar
with ideal um modification is a hard thing we all do not like modification um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having maintaining several savings account but there's a big quantity of complexity goes with setting up a checking account keeping it ensuring it can send International transfers ensuring it's set up with the best user accesses for specific people so the complexity is big but I think the sincere answer is change um people haven't had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century or two there is a lot to monitor and this approach does pose several obstacles um so Johnny could you inform us about those challenges yeah naturally 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 handle our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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