Find out more about Papaya Global Turkey ... 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 actually acquired a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and trustworthy technique of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
The Worker Portal provides employees with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to worldwide employees despite the number of workers in the business. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source local benefits suppliers in every nation, create local accounts and have a minimum number of staff members.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment expenses dispersed per location, total work costs per cycle and much more.
environments around the world I provided management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business managing and structure external relationships supporting Enterprise clients and services as well as acting as an advisor for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a global company, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We focus on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a pleasure to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I've sort of had a range of different functions on the company side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everybody another number of uh well among 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 intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I really do hope it's much sunnier than it remains 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 dreary and I wish I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business maintain different
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is particularly useful for worldwide organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex obstacle for services operating worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to enhance working capital, and find how improving global payroll payments can transform them from a difficult task into a strategic asset.
Managing payroll internationally is a daunting task due to various guidelines, compliance requirements, information security concerns, and banking rules. The sheer number of workers and services contributes to the complexity, with an approximated 3.5 billion individuals in the global labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems often lead to manual procedures, information silos, and a lack of combination, causing inconsistencies and ineffectiveness. Despite living in an era of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to provide insights and options to streamline and enhance 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 state they have Labor force information in real time that's another number that offers me sleepless nights and rather frankly the more a service spends on global payroll the less of a photo they see a lack of exposure also extends to payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of global companies have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes badly interacted 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 place the typical cost of a global data 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 count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're making payments to employees or otherwise that's a good question I constantly toss this back and state what is it what does not require to be included ideal and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy anywhere you look ideal ultimately building a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble very payments no if however some infants 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 believe there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to type of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and financing groups work better together than ever um I'm constantly impressed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of important to contribute to type of the level of complexity there's more and more advantages being organ or being provided by services across the world so again you're simply wanting to add a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real obstacles or genuine challenging kind of pay uses to play to pay people I think yeah I mean over the last well yeah a number of decades I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's really handling the payment side of things but 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 create additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they don't make them what they require to be in in an age of tech and an era that you know that we are operating in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single greatest liability that any organization has from an expense perspective from an effect viewpoint on employees it is absolutely critical that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive effect on individuals's wellness and lots of other aspects if people aren't paid uh I've constantly been amazed entering this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle we all find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment option is a fantastic initial step um supplying an end-to-end payroll option for your workers globally again I think is another big um process again lining up and ensuring you have standardization International processes all of those things are definitely crucial to success success of businesses and lowering the number of tools platforms and savings account they require for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyhow we understand how how crucial 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 easy as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm simply I was just gon na say think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task trying 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 look through them and in fact see what was going on and kind of try to get back to everybody so proceeding look why do companies choose to primary separate checking account there are organizations out there doing exactly this for particular nations and I have actually operated in a business or many services doing exactly that I can say it doesn't always feel effective 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 have to and any person that's dealing with that process I 'd be interested to hear your thoughts 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 believe people have actually got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I think this is a process that requires looking at it requires altering but eventually people are really stuck with what they're familiar
with right um modification is a tough thing all of us do not like change um so I think it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having maintaining multiple bank accounts but there's a substantial quantity of complexity opts for establishing a bank account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for private people so the complexity is huge but I believe the sincere answer is modification um people haven't had the ability to alter or haven't had always the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change but we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century approximately there is a lot to keep an eye on and this approach does pose several difficulties 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 change 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 gained another CFO, and with this boosted capability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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