Find out more about Papaya Global Kyrgyzstan ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and reliable technique of paying to our 10,000 workers worldwide.}
The innovative worldwide payroll management app simplifies my payroll process, conserving me a considerable quantity of time every month. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Staff member Portal provides workers with the ability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists business provide competitive benefits plans to worldwide workers despite the variety of staff members in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source local benefits service providers in every nation, create regional accounts and have a minimum number of staff members.
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 permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total employment costs distributed per area, overall employment costs per cycle and much more.
environments across the globe I offered leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work across business handling and structure external relationships supporting Enterprise customers and options as well as acting as an advisor for those of you that do not know who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present 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 pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of various roles on the provider side and likewise on the vendor side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody 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 is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely gloomy and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies maintain separate
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is especially beneficial for international organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being complex for a range of factors most notably regulations compliance data security and banking guidelines then there are the sheer numbers they add further intricacy the global Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the standard payroll model there's often a frustrating number of various systems leading to lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or very very fundamental there's no genuine consistency structure we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that offers me sleep deprived nights and rather frankly the more a company spends on international payroll the less of a picture they see a lack of presence also encompasses payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide businesses have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors badly communicated hires and terminations in addition to lack management and system setups and then when you round everything off and the data is delivered to the wrong location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments do not run efficiently if they rely on the essential numerous processes 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 business face when they're making payments to employees or otherwise that's an excellent concern I constantly toss this back and state what is it what doesn't require to be included right and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation 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 have to pay from the customer's own in-country account so there's complexity any place you look ideal eventually constructing a knowledge base is definitely important but everywhere you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 allowing us to sort of move forward with that it also also to contribute to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely crucial that payroll and finance teams work better together than ever um I'm constantly impressed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of essential to add to kind of the level of complexity there's a growing number of advantages being organ or being provided by businesses across the world so once again you're just seeking to include a growing number of payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine difficult kind of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding info into the next function as it were that's in fact managing the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to develop additional handoffs at the same times that we run in they just make them more prompt 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 operating in today there is no reason we are still making this as hard as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any service has from a cost viewpoint from an effect perspective on workers it is absolutely critical that it's done correctly and on time so what we suggest 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 damaging impact on individuals's well-being and numerous other factors if individuals aren't paid uh I have actually always been surprised entering this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only discover when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally also. For that reason, it is important to ensure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the very first International Payments first payroll payment service is an excellent initial step towards offering a thorough payroll solution for staff members worldwide. Standardization, international processes, and reducing the number of tools, platforms, and checking account needed for global payroll are crucial factors in achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things do not go as planned. Ultimately, we do not do it for the thankfulness.
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 everyone that's involved in those procedures and likewise so think of sorry I'm simply I was just gon na say picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions envision getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task attempting to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of try to return to everyone so carrying on look why do business select to main different checking account there are businesses out there doing precisely this for specific nations and I've operated in a service or numerous companies doing precisely that I can state it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating additional work for anyone where we do not have to and anybody 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 amount that we are I believe numerous reasons one is it's the requirement I believe people have got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I believe this is a process that requires taking a look at it needs changing but eventually individuals are extremely stuck with what they recognize
with best um modification is a tough thing we all don't like modification um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having maintaining several bank accounts but there's a substantial quantity of complexity opts for establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for specific people so the complexity is huge however I believe the sincere answer is change um individuals haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a bank account I think you've struck 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 real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or two there is a lot to keep an eye on and this method does pose several obstacles um so Johnny might you inform us about those difficulties yeah obviously so there's a variety right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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