Find out more about Papaya Global Italy ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and secure and trustworthy approach of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and contractors
The Employee Portal offers staff members with the capability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits bundles to international staff members regardless of the number of workers in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source regional benefits service providers in every nation, produce regional accounts and have a minimum variety of workers.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment expenses dispersed per location, total employment expenses per cycle and far more.
Worldwide, I have actually shown leadership and strategic proficiency in guiding massive populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for overseeing payroll strategies, as discussed by Mark. My function includes managing and developing external partnerships, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually kind of had a variety of different functions on the supplier side and also on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really really bleak and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business keep different
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is particularly useful for international organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for companies operating internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, discover how business anticipate payroll expenses to optimize working capital, and discover how improving international payroll payments can change them from a troublesome job into a tactical possession.
Handling payroll globally is a complicated job due to different guidelines, compliance requirements, data security concerns, and banking rules. The sheer variety of staff members and organizations adds to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual procedures, information silos, and an absence of integration, resulting in inconsistencies and inadequacies. In spite of residing in an age of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to provide insights and options to streamline and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that provides me sleepless nights and quite honestly the more a company invests in international payroll the less of an image they see a lack of presence likewise encompasses payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of global organizations have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors poorly communicated hires and terminations along with lack management and system configurations and then when you round all of it off and the information is shipped to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they rely on the essential multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties organization face when they're paying to workers or otherwise that's a good concern I always toss this back and say what is it what doesn't need to be consisted of right and what does
it need 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 have to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is absolutely critical but all over you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to type of progress with that it likewise too to add to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing teams work better together than ever um I'm always surprised when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't 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 often 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 people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more crucial to contribute to type of the level of intricacy there's increasingly more advantages being organ or being provided by services throughout the world so once again you're simply aiming to add more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real difficulties or real tough kind of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding information into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we need to produce additional handoffs while doing sos that we operate in they just make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason that we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any business has from an expense point of view from an impact point of view on workers it is definitely critical 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 greatest detrimental result on individuals's wellness and many other factors if individuals aren't paid uh I have actually always been surprised coming into this Market type of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only notice when things fail. However, when things go right, it's seen as just a regular job. This is how it's viewed externally too. For that reason, it is essential to ensure that jobs like Wi-Fi International and other essential matters are done properly. Utilizing the very first Global Payments first payroll payment service is a fantastic initial step towards supplying a thorough payroll solution for staff members worldwide. Standardization, international processes, and lowering the variety of tools, platforms, and savings account needed for worldwide payroll are essential factors in achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyhow we understand how how crucial 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 everybody that's involved in those processes and also so envision sorry I'm just I was just gon na say picture 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 possibly Millions picture getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating job trying to clean up all those up for sure oh definitely I can't picture 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 sort of try to return to everyone so moving on look why do business choose to primary separate checking account there are companies out there doing exactly this for specific nations and I have actually operated in a company or lots of services doing precisely that I can say it doesn't always feel efficient and it does create more work I know we're not intentionally doing that we're not developing additional work for any person where we don't 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 many factors one is it's the standard I believe individuals have actually got so used to we need a brand-new savings account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires changing however eventually people are really stuck with what they're familiar
with ideal um change is a hard thing all of us do not like change um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping multiple bank accounts however there's a substantial amount of intricacy chooses setting up a savings account keeping it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for individual individuals so the intricacy is huge however I believe the truthful answer is change um people haven't been able to change or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I think you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to change however we have actually always 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 nearly be figured out to be the next Century or so there is a lot to monitor and this approach does position a number of challenges um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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