Find out more about Papaya Global Please Wait While Payroll Updates Your Data ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to handling payments. This provides us with a safe and secure and trustworthy method of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app enhances my payroll procedure, conserving me a substantial amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Worker Website
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work files. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business offer competitive advantages plans to worldwide workers regardless of the variety of staff members in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source local advantages companies in every nation, create regional accounts and have a minimum variety of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, total employment costs dispersed per location, overall work costs per cycle and much more.
Internationally, I have actually shown leadership and tactical knowledge in assisting large-scale populations of over 100,000 staff members across 170 countries. Currently, I are accountable for managing payroll methods, as mentioned by Mark. My function involves handling and developing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a global business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to fulfill 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 market, I have focused on payroll and payment solutions for the past seven years. The complexities 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 5 or six years where I've sort of had a variety of different functions on the provider side and likewise on the vendor side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just provide everyone another number 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 intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates 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 really very bleak and I want I was somewhere else 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 challenge years of handling International payroll why companies maintain separate
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is especially beneficial for international companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving separate savings account for payroll in different countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in enough in one nation however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most notably guidelines compliance data security and banking rules then there are the large numbers they include further complexity the global Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the standard payroll model there's often a frustrating variety of different systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in big quantities and or very very fundamental there's no genuine consistency framework we're residing in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more an organization invests in international payroll the less of a picture they see a lack of presence likewise extends to payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide organizations have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors poorly communicated hires and terminations as well as absence management and system configurations and then when you round everything off and the data is delivered to the wrong location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they count on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties service face when they're paying to staff members or otherwise that's a great concern I constantly toss this back and say what is it what does not need to be consisted of ideal and what does
it require to be thought about there's differing Bank information 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 customer's own in-country account so there's intricacy anywhere you look best ultimately constructing a knowledge base is definitely crucial but all over you look with payroll payment they are like super payments no if however some children 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 think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is permitting us to kind of move on with that it also also to add to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and financing groups work better together than ever um I'm always astonished when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on wellness and the payment landscape is ending up being progressively detailed. Companies are continuously presenting brand-new benefits and payment options, which contributes to the general intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technically sophisticated period, there's no justification for maintaining troublesome treatments. Payroll, the company's biggest cost, should be processed correctly and on time. Even minor delays can adversely affect employees' well-being and have significant repercussions. For that reason, it's vital to focus on accurate and timely payments.
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's perceived externally also. Therefore, it is important to make sure that tasks like Wi-Fi International and other crucial matters are done properly. Using the very first Global Payments first payroll payment solution is an excellent preliminary step towards offering a thorough payroll service for employees worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and savings account needed for international payroll are crucial factors in accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyhow 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 everyone that's involved in those procedures and likewise so imagine sorry I'm just I was just gon na say picture the quantity 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 picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and in fact see what was going on and type of try to return to everybody so moving on appearance why do companies pick to main different checking account there are companies out there doing precisely this for particular nations and I have actually operated in a business or many organizations doing exactly that I can say it doesn't constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not developing extra work for any person where we don't have to and anybody that's managing 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 quantity that we are I think many reasons one is it's the standard I believe people have actually got so utilized to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have adopted 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 ways um to to kind of do it so I believe there's a range I believe this is a process that requires looking at it needs altering but eventually individuals are very stuck to what they're familiar
with right um modification is a challenging thing all of us don't like change um so I believe it's just 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 comprehend obviously the advantages of having maintaining several checking account however there's a substantial amount of intricacy opts for setting up a checking account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is substantial however I believe the honest response is modification um individuals haven't been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could nearly be figured out to be the next Century or so there is a lot to track and this technique does position a number of challenges um so Johnny could you tell us about those challenges yeah obviously so there's a variety right there is so
I just 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 Global workers you are worthy of a corner workplace with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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