Find out more about Papaya Global Net Worth ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and secure and dependable method of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Worker Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages packages to global staff members despite the variety of staff members in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source local benefits suppliers in every country, develop local accounts and have a minimum number of employees.
The HR abilities offered by Global HR encompass different functions such as keeping an eye on vacation time, guaranteeing compliance, facilitating the procedure of inviting brand-new workers and bidding goodbye to departing ones, using a safe online platform for saving workers' files, and providing support for work allow treatments in case your employees require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work costs dispersed per location, overall work costs per cycle and far more.
Internationally, I have shown leadership and tactical expertise in assisting large-scale populations of over 100,000 staff members across 170 nations. Currently, I am responsible for overseeing payroll techniques, as discussed by Mark. My function includes handling and establishing external collaborations, supporting Business customers, 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 worldwide business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and labor force management services to staff members in more than 160 countries. 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 location. It's a satisfaction to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment options for the past 7 years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I've sort of had a range of different functions on the supplier side and also on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting 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 is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely really gloomy and I wish I was somewhere else at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business maintain different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly useful for global companies with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of preserving separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over 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.
Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for companies operating globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, discover how companies anticipate payroll expenses to enhance working capital, and find how streamlining worldwide payroll payments can transform them from a difficult job into a tactical asset.
Handling payroll internationally is an overwhelming job due to various guidelines, compliance requirements, data security issues, and banking guidelines. The large variety of workers and services adds to the complexity, with an approximated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often lead to manual procedures, information silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. Despite living in an era of technological developments, payroll management has actually 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 services to streamline and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that offers me sleepless nights and quite honestly the more a service spends on worldwide payroll the less of a photo they see a lack of exposure also extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction nearly half of international companies have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors inadequately interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is shipped to the wrong location the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the needed several 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 company face when they're paying to staff members or otherwise that's a great question I constantly throw this back and say what is it what does not require to be included best and what does
it need to be thought of there's varying 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 capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity wherever you look ideal ultimately developing a knowledge base is absolutely critical but 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 look at the type 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 absolutely basic and innovation is permitting us to type of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely essential that payroll and finance groups work more detailed together than ever um I'm always surprised when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market 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 data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of crucial to add to sort of the level of intricacy there's increasingly more advantages being organ or being used by companies across the world so once again you're simply seeking to add increasingly more payments to this currently intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine difficulties or genuine challenging kind of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of decades I would absolutely say that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding information into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to produce extra handoffs at the same times that we run in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and an age that you understand that we are operating in today there is no reason that we are still making this as challenging as it requires to be agreed and rightly as you said payroll is the single biggest liability that any business has from an expense point of view from an impact viewpoint on workers it is absolutely vital that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest harmful result on people's wellness and lots of other factors if people aren't paid uh I have actually constantly been amazed entering into this Market sort of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only notice when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's viewed externally also. For that reason, it is vital to make sure that jobs like Wi-Fi Global and other essential matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment option is a great initial step towards offering a comprehensive payroll service for staff members worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and checking account essential for international payroll are crucial factors in attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyway we understand how how essential a function 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 everyone that's associated with those procedures and likewise so envision sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing task attempting to clean all those up for sure oh absolutely 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 try to check out them and actually see what was going on and sort of shot to get back to everybody so moving on appearance why do business pick to main separate savings account there are services out there doing exactly this for particular countries and I have actually operated in a company or numerous businesses doing exactly that I can say it does not constantly feel effective and it does produce more work I know we're not deliberately doing that we're not developing extra work for any person where we do not have to and any person that's handling 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 quantity that we are I believe lots of reasons one is it's the requirement I think people have got so used to we need a new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I think this is a process that needs taking a look at it requires changing but ultimately people are really stuck to what they recognize
with best um modification is a tough thing we all do not like modification um so I believe it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having preserving numerous savings account however there's a huge quantity of complexity opts for establishing a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is substantial but I think the honest response is change um individuals haven't had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change however we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century or so there is a lot to keep track of and this approach does present several obstacles um so Johnny might 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 manage our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your accomplishments.
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