Find out more about Papaya Global Valuation ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and secure and reliable method of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
Worker Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax statements and work documents. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive advantages packages to international workers regardless of the number of employees in the company. The company can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages providers in every nation, create local accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, total work costs distributed per place, overall employment expenses per cycle and far more.
environments across the globe I supplied management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across business managing and structure external relationships supporting Enterprise customers and options as well as serving as a consultant for those of you that do not know who papaya International is papaya is the very first payroll and payments
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a pleasure to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. 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 challenges of this field have actually always mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually type of had a range of different roles on the supplier side and likewise on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone comes from and I really 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 really extremely dreary and I wish I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business keep different
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic possession for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex obstacle for services running worldwide. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, learn how companies forecast payroll costs to enhance working capital, and find how simplifying global payroll payments can change them from a burdensome job into a tactical asset.
Managing payroll internationally is a complicated task due to various guidelines, compliance requirements, data security issues, and banking rules. The sheer variety of employees and companies adds to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently result in manual procedures, information silos, and an absence of integration, leading to disparities and inadequacies. In spite of residing in an age of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to offer insights and services to simplify and optimize global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a company spends on global payroll the less of a picture they see an absence of presence also extends to payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the transaction almost half of global organizations have revealed that they do not 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 poor HCM information 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 a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they depend on the required multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they're making payments to staff members or otherwise that's a good concern I always toss this back and state what is it what does not need 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 country there's payment amount of time there's payment abilities 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 customer's own in-country account so there's intricacy wherever you look ideal eventually building a knowledge base is definitely vital but 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 look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and technology is allowing us to type of move on with that it likewise as well to add to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely vital that payroll and financing teams work closer together than ever um I'm constantly surprised when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession 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 process it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to add to sort of the level of complexity there's a growing number of advantages being organ or being provided by companies throughout the world so again you're simply aiming to add a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine obstacles or genuine challenging type of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would certainly say that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding information into the next function as it were that's in fact managing the payment side of things but you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we run in they just make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and a period that you understand that we are working in today there is no reason 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 service has from an expense viewpoint from an impact perspective on staff members it is definitely critical 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 need to be done right it has the biggest damaging impact on people's well-being and lots of other elements if people aren't paid uh I've always been surprised entering into this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment service is a great first step um providing an end-to-end payroll option for your workers worldwide once again I think is another big um procedure again lining up and guaranteeing you have standardization International procedures all of those things are definitely crucial to success success of businesses and lowering the number of tools platforms and bank accounts they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone rather where they're suggested to be um I do not believe any of us are in fact doing that for for the thanks
anyway we know how how crucial a function 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 associated with those procedures and likewise so think of sorry I'm simply I was simply gon na state think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of 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 picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and really see what was going on and kind of shot to get back to everyone so carrying on look why do companies pick to primary different savings account there are businesses out there doing precisely this for particular nations and I've operated in a service or numerous companies doing precisely that I can state it doesn't constantly feel effective and it does produce more work I know we're not intentionally doing that we're not producing additional work for any person where we don't have to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think many factors one is it's the requirement I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes 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 individuals have embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a range I think this is a procedure that requires looking at it needs changing but ultimately people are very stuck with what they recognize
with best um modification is a difficult thing we all do not like modification um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having maintaining several bank accounts but there's a substantial quantity of intricacy chooses setting up a checking account maintaining it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private individuals so the intricacy is big however I think the sincere response is change um people haven't had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to change but we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could almost be determined to be the next Century approximately there is a lot to monitor and this technique does pose a number of difficulties um so Johnny could you tell us about those obstacles yeah obviously so there's a variety right there is so
I recently made a change to our Business 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 acquired another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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