Find out more about Papaya Global 2022 ... 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 gotten a different Chief Financial Officer particularly devoted to managing payments. This provides us with a protected and reputable approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Worker Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work files. The website is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies offer competitive benefits plans to global workers no matter the number of workers in the company. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages providers in every country, produce local accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall work expenses dispersed per area, total work expenses per cycle and a lot more.
Internationally, I have actually shown leadership and tactical expertise in guiding large-scale populations of over 100,000 employees across 170 countries. Presently, I are accountable for managing payroll strategies, as pointed out by Mark. My function includes managing and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We focus on offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have actually constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually kind of had a range of different roles on the supplier side and also on the vendor side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly 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 raining here it's very very gloomy and I wish I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies maintain separate
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate checking account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for services operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to enhance working capital, and find how streamlining international payroll payments can change them from a burdensome job into a strategic asset.
Handling payroll worldwide is a daunting task due to numerous policies, compliance requirements, data security issues, and banking guidelines. The sheer number of workers and businesses adds to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and a lack of integration, leading to inconsistencies and inefficiencies. In spite of living in an era of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to provide insights and options to simplify and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more an organization spends on global payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of worldwide businesses 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 due to time reporting bad HCM data information entry mistakes improperly communicated hires and terminations along with lack management and system setups and then when you round everything off and the information is shipped to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they count on the required numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges organization face when they're paying to workers or otherwise that's an excellent question I always throw this back and say what is it what doesn't need to be included best and what does
it need to be thought of there's differing Bank information 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 have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble very payments no if but some infants 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 believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to type of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to add to type of the level of intricacy there's a growing number of benefits being organ or being used by companies throughout the world so again you're simply aiming to add more and more payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine difficulties or real difficult type of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding info into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we need to develop extra handoffs while doing sos that we operate in they simply 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 age that you understand that we are operating in today there is no reason why we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single biggest liability that any service has from an expense viewpoint from an impact point of view on workers it is absolutely critical that it's done properly 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 greatest damaging result on individuals's well-being and many other factors if individuals aren't paid uh I've constantly been impressed entering this Market kind of the last 5 to ten years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just observe when things fail. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally as well. For that reason, it is essential to make sure that tasks like Wi-Fi International and other important matters are done correctly. Utilizing the very first International Payments first payroll payment option is a fantastic initial action towards providing a thorough payroll option for staff members worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and checking account needed for global payroll are essential consider achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as planned. Eventually, we don't do it for the gratitude.
anyway we know how how crucial 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 easy as possible for everybody that's involved in those procedures and likewise so picture sorry I'm simply I was just gon na say think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job 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 really see what was going on and kind of shot to get back to everybody so carrying on appearance why do companies choose to main different bank accounts there are businesses out there doing exactly this for specific countries and I have actually operated in a service or many businesses doing exactly that I can state it does not constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing extra work for anyone where we do not need to and anybody that's managing 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 quantity that we are I think many reasons one is it's the standard I think people have got so utilized to we require a brand-new savings 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 norm the people have adopted and continue to do over years and years gone past to contribute to that people 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 variety I think this is a process that needs taking a look at it requires altering however ultimately people are very stuck with what they're familiar
with right um modification is a challenging thing all of us do not like change 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 stuff um I understand undoubtedly the benefits of having preserving several checking account but there's a substantial quantity of intricacy chooses establishing a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the complexity is huge but I think the sincere response is change um people have not been able to alter or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a savings account I think you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've always done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or so there is a lot to track and this method does present several obstacles um so Johnny could you tell us about those obstacles yeah obviously so there's a variety right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you deserve a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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