Find out more about Papaya Global Hk Limited Hong Kong ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and secure and trusted technique of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Worker Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and work documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to worldwide staff members no matter the variety of workers in the business. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source regional benefits companies in every country, create local accounts and have a minimum number of workers.
The HR capabilities supplied by Worldwide HR incorporate various functions such as keeping an eye on trip time, ensuring compliance, helping with the procedure of inviting brand-new workers and bidding goodbye to departing ones, offering a secure online platform for storing employees' files, and providing support for work allow treatments in case your workers require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, total work costs dispersed per location, total work costs per cycle and a lot more.
Internationally, I have actually shown leadership and tactical expertise in assisting large-scale populations of over 100,000 workers across 170 nations. Presently, I are accountable for managing payroll methods, as discussed by Mark. My role includes managing and developing external partnerships, supporting Business clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for a lot of influential business on the planet we supply payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good evening depending upon where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian said 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 working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually sort of had a range of various functions on the company side and also on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply give 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 interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind 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 sunlight is it it's not no it's it's raining here it's really extremely uninspiring and I want I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies keep different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially beneficial for international companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in different nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, discover how business anticipate payroll expenses to enhance working capital, and discover how simplifying global payroll payments can change them from a difficult task into a tactical property.
Handling payroll globally is a difficult job due to different regulations, compliance requirements, data security concerns, and banking guidelines. The sheer number of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of integration, leading to inconsistencies and ineffectiveness. In spite of residing in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to supply insights and services to simplify and optimize global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization spends on worldwide payroll the less of a picture they see an absence of presence likewise extends to payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of international businesses have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors poorly interacted hires and terminations as well as absence management and system setups and then when you round it all off and the information is delivered to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they count on the required several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles company face when they're making payments to staff members or otherwise that's a good concern I constantly throw this back and say what is it what does not require to be included right and what does
it need to be thought of there's differing Bank information 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 need to pay from the consumer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is absolutely critical however 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 type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to kind of move on with that it also also to add to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely essential that payroll and finance groups work more detailed together than ever um I'm constantly amazed when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information 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
The modern world places a high worth on wellness and the compensation landscape is becoming increasingly detailed. Services are continually presenting new advantages and payment choices, which contributes to the general intricacy. Large corporations typically divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my opinion, this does not have to hold true. In today's highly sophisticated age, there's no reason for maintaining troublesome treatments. Payroll, the company's biggest expense, should be processed properly and on time. Even slight delays can negatively impact staff members' wellness and have far-reaching repercussions. Therefore, it's important to focus on precise and prompt payments.
payroll group get um so I'm uncertain anybody on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely vital that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment service is a great initial step um providing an end-to-end payroll solution for your employees internationally again I think is another substantial um process again lining up and ensuring you have standardization Global processes all of those things are definitely essential to success success of services and decreasing the variety of tools platforms and checking account they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually 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 grievances where things haven't gone quite where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how important a role 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 involved in those processes and also so think of sorry I'm simply I was just gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and actually see what was going on and sort of try to get back to everyone so proceeding appearance why do business pick to main different checking account there are businesses out there doing exactly this for specific countries and I have actually operated in a company or numerous businesses doing exactly that I can say it does not always feel efficient and it does create more work I know we're not deliberately doing that we're not creating extra work for anyone where we do not need to and any person that's handling 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 believe many reasons one is it's the requirement I believe people have actually got so utilized to we require a brand-new savings account we open an entity and rightly 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 simply been the standard and the standard the people have adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I believe this is a process that needs taking a look at it needs changing but eventually people are very stuck to what they're familiar
with right um modification is a hard thing all of us don't like change um so I believe it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having keeping multiple checking account but there's a huge quantity of intricacy goes with establishing a checking account preserving it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for individual individuals so the intricacy is big however I think the truthful response is modification um people haven't been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter 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 moving on and moving into you know what might almost be determined to be the next Century or so there is a lot to monitor and this technique does position several obstacles um so Johnny might you tell us about those difficulties yeah of course 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 handle our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your achievements.
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