Find out more about Papaya Global Hibob ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and secure and dependable approach of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
The Worker Website provides employees with the capability to gain access to and view important files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global assists business use competitive benefits plans to worldwide workers regardless of the variety of staff members in the business. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source local advantages providers in every country, develop regional accounts and have a minimum variety of employees.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work costs distributed per area, total employment costs per cycle and much more.
Worldwide, I have demonstrated management and strategic proficiency in guiding massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for supervising payroll strategies, as pointed out by Mark. My role involves handling and developing external collaborations, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As an international business, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have actually always captivated 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 range of various functions on the supplier side and likewise on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I actually 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 raining here it's really very dreary and I want I was somewhere else at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic possession uh we'll likewise go over a wrap-up and that needs to leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more common and handling them ends up being more and more complicated Global organizations are aiming to find Solutions and new methods to improve processes particularly from a payroll and cross-border payment viewpoint many companies keep different bank account just for payroll while some have several accounts in different countries does it make sense for companies to maintain separate checking account sometimes in different nations it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business streamline the episode complex procedures of
Making sure accurate, effective, and timely payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, discover how companies forecast payroll costs to enhance working capital, and discover how improving international payroll payments can transform them from a challenging task into a strategic property.
Managing payroll internationally is a complicated task due to different regulations, compliance requirements, data security concerns, and banking guidelines. The sheer variety of employees and companies contributes to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems typically lead to manual processes, information silos, and a lack of integration, leading to inconsistencies and inadequacies. Despite residing in a period of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and services 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 businesses state they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more a company spends on worldwide payroll the less of an image they see a lack of presence also reaches payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of global services 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 because of time reporting bad HCM data data entry errors badly communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is delivered to the wrong location 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 cash around the world payroll and payments do not run smoothly if they count on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles service face when they're making payments to employees or otherwise that's a good question I always throw this back and say what is it what doesn't need to be consisted of best and what does
it need to be thought of there's varying Bank details 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 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 client's own in-country account so there's complexity any place you look right eventually building a knowledge base is absolutely important however 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 acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to sort of move on with that it likewise too to add to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely important that payroll and financing teams work better together than ever um I'm always surprised when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually 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 also paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on well-being and the payment landscape is ending up being significantly complex. Companies are continually introducing new benefits and payment choices, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my viewpoint, this does not have to hold true. In today's technologically innovative era, there's no justification for maintaining cumbersome treatments. Payroll, the company's most significant expense, must be processed correctly and on time. Even minor delays can negatively impact workers' wellness and have significant consequences. For that reason, it's important to prioritize accurate and timely payments.
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just discover when things fail. However, when things go right, it's viewed as simply a routine task. This is how it's viewed externally also. For that reason, it is important to ensure that tasks like Wi-Fi International and other vital matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment service is a terrific preliminary action towards supplying an extensive payroll option for staff members worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and bank accounts needed for international payroll are crucial factors in accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
anyway 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 easy as possible for everybody that's associated with those processes and likewise so think of sorry I'm simply I was just gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions envision getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and actually see what was going on and kind of shot to get back to everybody so moving on appearance why do business select to main separate savings account there are services out there doing precisely this for particular nations and I've worked in a business or many organizations doing exactly that I can say it doesn't always feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for anybody where we don't need to and any person that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I believe individuals have got so used to we need a brand-new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I believe this is a process that needs taking a look at it requires changing but eventually individuals are very stuck to what they recognize
with ideal um change is a difficult thing all of us don't like change um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having maintaining numerous bank accounts but there's a big quantity of intricacy opts for establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is substantial but I think the honest response is change um individuals haven't had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I believe it is knowledge you know and there is a component of resistance to change but we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be identified to be the next Century or two there is a lot to monitor and this method does posture several obstacles um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I simply did you switched 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 Worldwide staff members you should have a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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