Find out more about Papaya Global Svb ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and trustworthy approach of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app enhances my payroll process, saving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Staff member Portal
Workers have access to an Employee Portal where they can view their pay slips, wage and tax statements and work files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive benefits bundles to international employees despite the number of employees in the business. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local advantages companies in every country, develop regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall work costs dispersed per location, overall employment costs per cycle and much more.
Worldwide, I have shown leadership and strategic knowledge in assisting massive populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My function involves handling and establishing 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 options company.
company to make the time 100 list for the majority of prominent business worldwide we provide payroll payments and labor force management to all employee enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon excellent night depending upon where you are in the world it's beautiful to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've type of had a variety of various functions on the supplier side and also on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type 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 kind of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very bleak and I wish I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business preserve different
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a tactical property 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.
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for services operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, discover how business anticipate payroll expenses to enhance working capital, and discover how enhancing worldwide payroll payments can transform them from a difficult job into a strategic property.
Handling payroll internationally is a complicated task due to different policies, compliance requirements, information security concerns, and banking rules. The large number of staff members and businesses adds to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and an absence of integration, resulting in disparities and inefficiencies. In spite of residing in a period of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to supply insights and solutions to streamline and optimize global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that offers me sleepless nights and quite honestly the more an organization invests in global payroll the less of an image they see a lack of presence also extends to payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of international organizations have revealed that they do not 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 data information entry mistakes inadequately interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the information is shipped to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they depend on the essential numerous procedures 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 difficulties company face when they're paying to workers or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't need to be consisted of ideal and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities 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 client's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they resemble extremely payments no if however some children 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 essential and innovation is enabling us to kind of progress with that it also too to add to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely crucial that payroll and financing teams work more detailed together than ever um I'm constantly impressed 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 occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to add to sort of the level of intricacy there's a growing number of advantages being organ or being used by companies across the world so once again you're simply wanting to add increasingly more payments to this already complicated landscape so if you kind 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 challenges or genuine tough type of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a couple of decades I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding info into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we require to produce extra handoffs in the processes that we run in they just make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any business has from a cost point of view from an impact viewpoint on employees it is absolutely vital that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful impact on individuals's well-being and many other factors if individuals aren't paid uh I've always been astonished entering into this Market kind of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout 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 an essential cycle, and people just notice when things fail. However, when things go right, it's seen as just a routine job. This is how it's perceived externally also. For that reason, it is important to ensure that jobs like Wi-Fi International and other vital matters are done properly. Using the very first Global Payments first payroll payment service is an excellent initial step towards offering a comprehensive payroll service for employees worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and bank accounts needed for international payroll are essential factors in accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyway 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 everyone that's involved in those processes and likewise so picture sorry I'm simply I was simply gon na say envision 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 speaking about numerous thousands potentially Millions envision getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and type of shot to get back to everybody so proceeding appearance why do business choose to main different savings account there are organizations out there doing exactly this for specific nations and I have actually operated in a business or many organizations doing exactly that I can state it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating extra work for anybody where we don't need to and anyone that's handling that process 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 believe people have got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I think this is a procedure that requires looking at it needs changing but ultimately people are really stuck with what they're familiar
with ideal um modification is a difficult thing we all don't like modification um so I think it's just sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having maintaining multiple savings account but there's a huge amount of intricacy opts for establishing a checking account keeping it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the intricacy is substantial however I believe the honest answer is change um people haven't had the ability to change or have not had always the understanding to actually make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but 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 know what could nearly be identified to be the next Century or so there is a lot to monitor and this method does present numerous challenges um so Johnny might you tell us about those difficulties yeah obviously so there's a range 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 seems like our CFO has actually gotten another CFO, and with this enhanced ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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