Find out more about Papaya Global Nepal ... 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 acquired a separate Chief Financial Officer particularly committed to managing payments. This provides us with a protected and trustworthy technique of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Worker Website provides staff members with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to global employees regardless of the variety of staff members in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source regional benefits companies in every nation, produce local accounts and have a minimum number of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work permit support.
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 area, total work costs per cycle and far more.
Internationally, I have demonstrated leadership and tactical know-how in guiding large-scale populations of over 100,000 workers across 170 countries. Currently, I am responsible for overseeing payroll methods, as discussed by Mark. My function involves managing and developing external partnerships, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We focus on offering payroll and labor force management services to workers in more than 160 nations. 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 place. It's an enjoyment to fulfill 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 years of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually sort of had a range of different functions on the supplier side and likewise on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely extremely gloomy and I want I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business keep different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and timely payroll payments is a complex difficulty for businesses operating worldwide. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, discover how business anticipate payroll expenses to enhance working capital, and find how improving global payroll payments can transform them from a challenging job into a tactical possession.
Managing payroll worldwide is a complicated job due to different regulations, compliance requirements, information security concerns, and banking rules. The large variety of workers and services contributes to the complexity, with an approximated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of integration, leading to disparities and inefficiencies. In spite of living in an age of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to provide insights and options to simplify and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in worldwide payroll the less of a photo they see a lack of presence also encompasses payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international services have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes improperly communicated hires and terminations as well as lack management and system configurations and then when you round all of it off and the data is delivered to the incorrect location the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they depend on the needed numerous processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to staff members 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 require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 have to pay from the consumer's own in-country account so there's intricacy wherever you look right ultimately developing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble incredibly payments no if but some children 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 absolutely essential and technology is allowing us to sort of progress with that it also as well to contribute to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is absolutely vital that payroll and finance teams work better together than ever um I'm always impressed when people state 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 profession would they divide the payroll payment from computation I would say no so why do we as a market 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 contemporary world puts a high value on well-being and the payment landscape is becoming significantly detailed. Services are continually introducing new advantages and payment alternatives, which contributes to the overall complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can result in inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's technically innovative era, there's no reason for maintaining troublesome treatments. Payroll, the business's most significant cost, should be processed properly and on time. Even slight hold-ups can adversely impact workers' well-being and have far-reaching consequences. For that reason, it's critical to prioritize precise and prompt payments.
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just notice when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's viewed externally too. Therefore, it is vital to make sure that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the very first Worldwide Payments very first payroll payment service is a fantastic initial action towards offering a comprehensive payroll option for staff members worldwide. Standardization, global processes, and lowering the number of tools, platforms, and checking account necessary for worldwide payroll are essential factors in achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as planned. Eventually, we do not do it for the gratitude.
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 easy as possible for everybody that's associated with those procedures and likewise so imagine sorry I'm just I was simply 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 keeps in mind um I imply 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 picture 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 in fact see what was going on and kind of try to return to everybody so carrying on appearance why do companies pick to main different savings account there are companies out there doing precisely this for specific countries and I have actually operated in a service or many services doing exactly that I can say it doesn't constantly feel efficient and it does create more work I know we're not deliberately doing that we're not producing additional work for anybody where we don't need to and anybody that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I think people have actually got so used to we require a brand-new checking 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 simply been the requirement and the norm the people have actually 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 type of do it so I believe there's a range I think this is a procedure that needs looking at it requires altering but eventually individuals are extremely stuck to what they're familiar
with ideal um modification is a difficult thing all of us don't like modification um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having keeping multiple savings account but there's a substantial amount of complexity chooses setting up a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for private people so the intricacy is substantial however I think the sincere response is change um individuals have not been able to alter or haven't had always the understanding to actually make that change into alternate Solutions other than opening a savings account I think you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century or so there is a lot to keep an eye on and this approach does present a number of obstacles um so Johnny could you tell us about those challenges yeah obviously so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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