Find out more about Papaya Global Hong Kong ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and reputable approach of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Worker Portal
Workers have access to an Employee Portal where they can view their pay slips, wage and tax declarations and employment files. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive benefits packages to international workers regardless of the variety of staff members in the business. The business can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages providers in every country, produce local accounts and have a minimum number of workers.
The HR abilities offered by Worldwide HR incorporate numerous functions such as keeping track of vacation time, making sure compliance, helping with the process of welcoming brand-new workers and bidding farewell to leaving ones, providing a protected online platform for storing workers' documents, and supplying assistance for work allow treatments in case your employees require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall work costs distributed per area, total work expenses per cycle and far more.
Internationally, I have actually demonstrated leadership and strategic knowledge in guiding massive populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for managing payroll techniques, as discussed by Mark. My role includes managing and developing external partnerships, supporting Enterprise customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We specialize in offering payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a pleasure 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 decade of experience in the payments market, I have concentrated on payroll and payment options for the past seven years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've kind of had a variety of various roles on the provider side and also on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds or two 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 simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really very bleak and I want I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why business preserve separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical property uh we'll also review a wrap-up and that ought to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more typical and managing them ends up being increasingly more complex Worldwide companies are looking to find Solutions and new ways to streamline procedures especially from a payroll and cross-border payment viewpoint numerous organizations keep different savings account just for payroll while some have several accounts in various nations does it make sense for business to keep separate savings account sometimes in various nations it does however just for payroll is there a better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational business enhance the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for businesses operating globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to optimize working capital, and find how simplifying international payroll payments can transform them from a troublesome task into a tactical property.
Managing payroll worldwide is a challenging task due to various policies, compliance requirements, information security concerns, and banking guidelines. The sheer number of staff members and services adds to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often lead to manual procedures, information silos, and an absence of combination, resulting in disparities and ineffectiveness. Despite living in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar objectives to offer insights and options to simplify and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that offers me sleepless nights and quite honestly the more a business spends on global payroll the less of an image they see a lack of visibility likewise extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide companies have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors inadequately communicated hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the information is shipped to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they count on the necessary several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties company face when they're paying to staff members or otherwise that's a great question I always toss this back and state what is it what does not need to be included best and what does
it require to be thought about there's varying Bank information 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you 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 fundamental and technology is permitting us to type of progress with that it also also to contribute to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is absolutely important that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals say I've 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 calculation I would say no so why do we as an industry accept that why our payroll and payments so typically 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
world we reside in and well-being being a growing number of important to contribute to type of the level of complexity there's more and more benefits being organ or being used by organizations throughout the world so once again you're just aiming to include more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine difficulties or genuine tough kind of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a couple of years I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we need to produce extra handoffs in the processes that we run in they simply make them more timely they make them less effective and they don't make them what they need to be in in a period of tech and an era that you understand that we are working in today there is no reason why we are still making this as hard as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any business has from an expense viewpoint from an effect perspective on workers it is definitely crucial that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive effect on individuals's wellness and many other aspects if people aren't paid uh I have actually always been surprised coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just see when things go wrong. However, when things go right, it's viewed as simply a routine task. This is how it's perceived externally too. For that reason, it is important to make sure that jobs like Wi-Fi Global and other essential matters are done properly. Using the very first International Payments very first payroll payment option is a terrific initial step towards providing a thorough payroll option for staff members worldwide. Standardization, global processes, and decreasing the number of tools, platforms, and bank accounts necessary for worldwide payroll are crucial factors in attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things do not go as prepared. Ultimately, we don't do it for the gratitude.
anyhow we know how how essential 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 procedures and likewise so think of sorry I'm simply I was just gon na say think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and actually see what was going on and type of shot to return to everybody so carrying on appearance why do business pick to primary separate savings account there are services out there doing precisely this for particular nations and I have actually operated in a business or many businesses doing exactly that I can state it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not developing additional work for anyone where we do not have to and any person that's handling 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 amount that we are I believe numerous factors one is it's the standard I think people have actually got so used to we require a brand-new checking account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I believe this is a procedure that requires taking a look at it needs changing but eventually individuals are really stuck with what they recognize
with best um modification is a challenging thing we all do not like change um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having maintaining multiple checking account however there's a huge quantity of complexity opts for establishing a bank account keeping it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private individuals so the complexity is huge but I believe the honest answer is modification um individuals have not been able to alter or have not had necessarily the understanding to really 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 understanding you understand and there is a component of resistance to alter however we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might almost be determined to be the next Century or two there is a lot to keep an eye on and this technique does position a number of challenges um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced ability, I have actually successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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