Find out more about Papaya Global Hong Kong ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a protected and trustworthy method of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app improves my payroll process, conserving me a considerable amount of time every month. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
The Employee Website provides employees with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages bundles to international employees despite the number of staff members in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local advantages providers in every country, produce regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total work expenses dispersed per area, total work costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical proficiency in guiding massive populations of over 100,000 workers across 170 nations. Currently, I are accountable for supervising payroll strategies, as mentioned by Mark. My role involves handling and establishing external collaborations, supporting Enterprise customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We focus on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have actually always mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually kind of had a range of different functions on the provider side and likewise on the supplier side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type 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 kind of like see where everyone 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 drizzling here it's very very gloomy and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex difficulty for services running internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, find out how business forecast payroll costs to enhance working capital, and find how improving global payroll payments can change them from a burdensome task into a strategic possession.
Managing payroll worldwide is an overwhelming task due to numerous guidelines, compliance requirements, information security issues, and banking rules. The sheer number of employees and companies contributes to the complexity, with an estimated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems typically lead to manual processes, data silos, and an absence of combination, causing inconsistencies and ineffectiveness. Regardless of living in a period of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to offer insights and solutions to streamline and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a business spends on global payroll the less of an image they see a lack of visibility likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal almost half of global services have expressed that they don't 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 data entry errors improperly communicated hires and terminations along with lack management and system configurations and then when you round it all off and the data is delivered to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they rely on the required multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles organization face when they're paying to workers or otherwise that's a great question I always throw this back and state what is it what doesn't require to be consisted of right and what does
it require 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 time frames there's payment abilities 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 client's own in-country account so there's complexity any place you look ideal ultimately building a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble incredibly payments no if however some infants 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is allowing us to kind of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and finance groups work closer together than ever um I'm constantly surprised 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 computation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on wellness and the payment landscape is becoming progressively detailed. Organizations are constantly introducing new advantages and payment choices, which adds to the overall complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can cause ineffectiveness and bottlenecks. In my opinion, this doesn't need to be the case. In today's technically innovative period, there's no reason for maintaining cumbersome treatments. Payroll, the company's biggest expenditure, should be processed correctly and on time. Even minor delays can adversely affect staff members' well-being and have significant effects. For that reason, it's critical to prioritize precise and timely payments.
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just notice when things fail. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally as well. Therefore, it is essential to guarantee that jobs like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the first International Payments very first payroll payment solution is an excellent initial step towards offering a detailed payroll option for employees worldwide. Standardization, international procedures, and reducing the variety of tools, platforms, and checking account needed for international payroll are key factors in attaining company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as planned. Ultimately, we do not do it for the gratitude.
anyhow we understand 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 everyone that's associated with those processes and also so envision sorry I'm just I was just gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job attempting to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and really see what was going on and sort of shot to get back to everyone so carrying on appearance why do business select to primary different bank accounts there are organizations out there doing exactly this for specific nations and I have actually operated in an organization or lots of services doing precisely that I can state it doesn't constantly feel effective and it does produce 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 ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the requirement I believe people have actually got so utilized to we need a brand-new savings account we open an entity and appropriately 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 requirement and the norm the people have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I believe this is a process that requires looking at it needs altering but eventually people are really stuck to what they recognize
with best um modification is a tough thing we all don't like modification um so I believe 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 stuff um I comprehend clearly the advantages of having maintaining several savings account but there's a big quantity of complexity chooses setting up a savings account maintaining it ensuring it can send International transfers ensuring it's established with the ideal user accesses for private individuals so the intricacy is big however I believe the honest answer is change um individuals haven't been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however 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 almost be figured out to be the next Century approximately there is a lot to track and this method does present numerous challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I simply did you switched our Business 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 should have a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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