Find out more about Papaya Global Yemen ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and trustworthy technique of making payments to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll process, saving me a considerable amount of time every month. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Staff member Website supplies employees with the ability to gain access to and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global assists companies offer competitive benefits plans to global staff members no matter the number of employees in the business. The company can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source regional advantages providers in every country, produce regional accounts and have a minimum variety of staff members.
The HR abilities supplied by International HR include various functions such as keeping an eye on getaway time, making sure compliance, facilitating the process of inviting new employees and bidding farewell to departing ones, using a safe online platform for saving employees' files, and offering support for work permit treatments in case your staff members require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, overall employment expenses distributed per place, overall employment costs per cycle and far more.
Internationally, I have shown leadership and tactical competence in guiding massive populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for supervising payroll strategies, as pointed out by Mark. My function includes handling and developing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We specialize in supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past seven years. The complexities and challenges of this field have actually always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I've kind of had a range of different roles 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 very much for your time everybody okay thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or two to join we all 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 simply to hear where everybody is um it's nice to to sort 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 wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business maintain different
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is especially helpful for international organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining different checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex difficulty for organizations operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and find how simplifying global payroll payments can change them from a troublesome task into a tactical asset.
Managing payroll worldwide is a challenging job due to numerous regulations, compliance requirements, data security concerns, and banking guidelines. The sheer variety of staff members and organizations contributes to the intricacy, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems typically result in manual processes, data silos, and an absence of integration, resulting in disparities and ineffectiveness. In spite of living in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to provide insights and options to streamline and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a business spends on international payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of international companies have actually revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors inadequately communicated hires and terminations along with absence management and system configurations and then when you round everything off and the data is delivered to the incorrect location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they depend on the necessary numerous procedures 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 obstacles organization face when they're making payments to employees or otherwise that's a great concern I constantly throw this back and state what is it what doesn't require 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 capabilities 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 client's own in-country account so there's complexity wherever you look ideal ultimately constructing a knowledge base is definitely important however all over you look with payroll payment they resemble incredibly 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 in 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 type of move on with that it likewise too to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely necessary that payroll and finance groups work better together than ever um I'm constantly amazed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to add to kind of the level of complexity there's increasingly more benefits being organ or being offered by companies throughout the world so once again you're simply looking to include more and more payments to this already complicated landscape so if you sort 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 difficult kind of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of decades I would definitely state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding information into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to produce extra handoffs in the processes that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and an era that you know that we are operating in today there is no reason we are still making this as difficult as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any business has from an expense perspective from an impact point of view on staff members it is absolutely important 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 greatest damaging impact on individuals's wellness and many other factors if people aren't paid uh I have actually constantly been astonished entering this Market kind of the last five to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just notice when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's viewed externally also. For that reason, it is vital to guarantee that tasks like Wi-Fi Worldwide and other important matters are done properly. Utilizing the very first Worldwide Payments first payroll payment service is a terrific initial step towards providing a thorough payroll service for staff members worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and savings account essential for worldwide payroll are key factors in accomplishing service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things don't go as planned. Eventually, we don't do it for the appreciation.
anyway we understand how how important a function 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 involved in those processes and likewise so envision sorry I'm just I was just gon na say imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and in fact see what was going on and sort of try to get back to everyone so proceeding look why do business pick to primary different savings account there are businesses out there doing exactly this for particular nations and I've worked in a company or many organizations doing precisely that I can say it doesn't constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not creating extra work for anyone where we do not have to and anybody that's dealing with that process 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 believe lots of reasons one is it's the requirement I think people have got so used to we require a new savings account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs changing however ultimately people are extremely stuck to what they're familiar
with best um change is a tough thing we all don't like modification um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having preserving multiple checking account but there's a substantial amount of intricacy opts for establishing a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private individuals so the intricacy is huge however I think the truthful response is modification um people haven't been able to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter however we've constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to keep an eye on and this method does position a number of challenges um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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