Find out more about Papaya Global Lithuania ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and secure and reliable technique of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
The Employee Portal offers workers with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Advantages Administration
Papaya Global assists companies use competitive benefits packages to global employees regardless of the variety of employees in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source local advantages suppliers in every nation, produce regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total employment costs distributed per location, total employment expenses per cycle and far more.
Worldwide, I have shown leadership and strategic knowledge in directing large-scale populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for managing payroll techniques, as mentioned by Mark. My function involves managing and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in offering payroll and workforce management services to workers 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, despite your location. It's a satisfaction 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 decade of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to type 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 supplier side and likewise on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually do hope it's much sunnier than it is 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 very extremely bleak and I wish I was somewhere else 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 obstacle years of managing Worldwide payroll why business maintain different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote workforces, 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 offer a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic possession for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of factors most notably regulations compliance information security and banking rules then there are the large numbers they add more complexity the international Labor force is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll model there's frequently a frustrating variety of different systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in large amounts and or really really fundamental there's no real consistency framework we're residing in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a business invests in global payroll the less of a photo they see an absence of exposure also reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction nearly half of global organizations 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 because of time reporting poor HCM data data entry errors badly interacted hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the information is shipped to the incorrect location the typical expense of an international data 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 efficiently if they depend on the essential numerous 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 making payments to workers or otherwise that's a good question I always throw this back and say what is it what does not need to be included best and what does
it require 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 amount of time there's payment abilities 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 consumer's own in-country account so there's complexity anywhere you look right eventually building a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble very payments no if however some children 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 think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is allowing us to kind of move on with that it likewise also to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely important that payroll and financing teams work closer together than ever um I'm constantly amazed when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often 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 anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the payment landscape is becoming progressively detailed. Companies are continually introducing brand-new advantages and payment options, which contributes to the general complexity. Big corporations often divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my opinion, this does not have to be the case. In today's technologically sophisticated age, there's no reason for maintaining troublesome procedures. Payroll, the company's biggest expenditure, must be processed properly and on time. Even slight delays can negatively impact staff members' well-being and have far-reaching consequences. Therefore, it's vital to prioritize precise and timely payments.
payroll group get um so I'm not sure anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an essential cycle all of us hear about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the first International Payments first payroll payment service is a terrific first step um supplying an end-to-end payroll solution for your employees internationally again I think is another big um process again lining up and ensuring you have standardization International processes all of those things are definitely key to success success of organizations and reducing the variety of tools platforms and savings account they need for their Global 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've never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone rather where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyhow we know 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 easy as possible for everybody that's associated with those procedures and likewise so picture sorry I'm just I was just gon na state imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions think of getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and really see what was going on and kind of try to get back to everybody so proceeding look why do business select to primary separate checking account there are organizations out there doing precisely this for particular nations and I've operated in a company or lots of organizations doing precisely that I can state it does not always feel effective and it does create more work I understand we're not purposely doing that we're not producing additional work for anybody where we don't have to and any person that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think numerous factors one is it's the standard I think people have actually got so used to we need a new savings account we open an entity and appropriately 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 just been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs looking at it needs altering however ultimately people are extremely stuck with what they're familiar
with best um change is a difficult thing all of us don't like change um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having maintaining several checking account but there's a huge amount of intricacy chooses setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for individual people so the complexity is big however I think the honest answer is change um individuals haven't had the ability to change or have not had always the understanding to truly make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century or two there is a lot to monitor and this approach does pose several obstacles um so Johnny could you tell us about those challenges yeah obviously so there's a range 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 jobs on one platform. It feels like our CFO has acquired another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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