Find out more about Papaya Global Payroll Cannabis ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and secure and reliable technique of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Staff member Website offers staff members with the capability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to worldwide employees regardless of the number of employees in the business. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source local advantages companies in every nation, develop regional accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total employment costs dispersed per place, overall work expenses per cycle and far more.
Internationally, I have demonstrated management and strategic knowledge in directing large-scale populations of over 100,000 staff members across 170 countries. Presently, I am responsible for overseeing payroll methods, as discussed by Mark. My role includes managing and establishing external partnerships, supporting Business clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We focus on providing payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I've type of had a variety of various functions on the supplier side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone originates 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 really extremely bleak and I want I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies maintain separate
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate savings account for payroll in different countries, virtual accounts and digital wallets offer 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 possession for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex difficulty for services running worldwide. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll costs to enhance working capital, and find how streamlining global payroll payments can transform them from a challenging job into a tactical property.
Managing payroll globally is a daunting job due to numerous policies, compliance requirements, data security issues, and banking rules. The sheer variety of staff members and companies contributes to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and an absence of combination, resulting in inconsistencies and inadequacies. Regardless of residing in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to offer insights and options to streamline and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more a business spends on global payroll the less of a photo they see an absence of presence also reaches payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of international services have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations as well as absence management and system setups and after that when you round everything off and the information is delivered to the incorrect place the typical cost 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 worldwide payroll and payments don't run efficiently if they count on the needed several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties company face when they're paying to staff members or otherwise that's an excellent question I constantly throw this back and state what is it what does not require to be included ideal and what does
it require to be thought of there's varying Bank details 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 need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look best eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link 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 kind of move forward with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely imperative that payroll and financing groups work closer together than ever um I'm constantly surprised 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 operate in the payroll occupation would they split the payroll payment from calculation 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 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 likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to contribute to kind of the level of complexity there's a growing number of benefits being organ or being offered by organizations across the world so again you're just wanting to add increasingly more payments to this already intricate landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine obstacles or real tough kind of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a couple of decades I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding info into the next function as it were that's in fact managing the payment side of things however you understand 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 simply 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 age that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any organization has from an expense perspective from an effect perspective on workers it is definitely crucial that it's done correctly and on time so what we mean 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 people's wellness and numerous other elements if people aren't paid uh I've always been surprised entering into this Market sort of the last five to 10 years is how little thanks the
The payroll team might not have actually 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 an important cycle, and individuals only see when things go wrong. Nevertheless, when things go right, it's seen as just a routine task. This is how it's perceived externally too. Therefore, it is vital to make sure that tasks like Wi-Fi Global and other essential matters are done correctly. Using the very first Global Payments very first payroll payment solution is a fantastic initial action towards offering an extensive payroll option for employees worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and bank accounts essential for international payroll are crucial consider achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things do not go as prepared. Eventually, we don't do it for the gratitude.
anyhow we understand how how essential 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 simple as possible for everybody that's associated with those procedures and also so think of sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions think of getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and sort of shot to get back to everybody so carrying on look why do companies select to primary separate savings account there are organizations out there doing precisely this for specific nations and I've operated in a company or numerous businesses doing exactly that I can say it doesn't constantly feel effective and it does develop more work I understand we're not purposely doing that we're not developing additional work for any person where we do not need 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 believe many reasons one is it's the standard I think individuals have got so utilized to we need a new bank account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the norm the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires changing however eventually individuals are very stuck to what they're familiar
with best um modification is a hard thing all of us don't like modification um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having preserving numerous bank accounts but there's a huge quantity of intricacy goes with setting up a checking account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for private people so the intricacy is huge however I believe the sincere response is modification um people have not been able to alter or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to track and this method does position several difficulties um so Johnny might you inform us about those difficulties yeah obviously so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you are worthy of a corner workplace with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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