Find out more about Papaya Global 50 Support ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to handling payments. This offers us with a secure and reliable method of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Staff member Portal provides workers with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is used in various languages.
Advantages Administration
Papaya Global assists business provide competitive benefits packages to worldwide staff members despite the variety of employees in the company. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source regional advantages suppliers in every country, create local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall employment expenses dispersed per place, overall work costs per cycle and much more.
Internationally, I have shown management and strategic knowledge in assisting massive populations of over 100,000 employees across 170 countries. Presently, I are accountable for overseeing payroll methods, as pointed out by Mark. My role includes managing and developing external collaborations, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a pleasure to satisfy you and thank you for your important 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 options for the past seven years. The intricacies and difficulties of this field have always mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've kind of had a range of various functions on the service provider side and also on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or two 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 simply to hear where everyone is um it's nice to to sort of like see where everyone comes from and I truly do hope it's much sunnier than it remains 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 very really bleak and I wish I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business keep separate
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate checking account for payroll in various nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and prompt payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to enhance working capital, and discover how improving worldwide payroll payments can transform them from a troublesome job into a strategic possession.
Handling payroll globally is an overwhelming job due to various guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer variety of employees and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the global workforce, 500 countless whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. Regardless of living in an era of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to supply insights and solutions to simplify and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather frankly the more a company spends on worldwide payroll the less of an image they see a lack of exposure likewise extends to payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of international businesses have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes poorly interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is shipped to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars once 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 needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're making payments to workers or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be included right 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 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 consumer's own in-country account so there's complexity wherever you look ideal eventually building a knowledge base is definitely critical however all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to kind of move forward with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup processes is absolutely necessary that payroll and finance teams work better together than ever um I'm constantly amazed when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process 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 third parties so with the
world we live in and wellness being increasingly more important to contribute to sort of the level of complexity there's more and more advantages being organ or being used by organizations throughout the world so once again you're just looking to include more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real obstacles or real challenging sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of years I would certainly state that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding info into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we need to produce additional handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any company has from an expense perspective from an effect perspective on staff members it is absolutely critical that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive impact on people's well-being and many other aspects if people aren't paid uh I've constantly been surprised entering this Market kind of the last 5 to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only discover when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's viewed externally too. For that reason, it is vital to guarantee that tasks like Wi-Fi International and other essential matters are done correctly. Using the first Global Payments very first payroll payment option is a fantastic preliminary step towards supplying a thorough payroll service for employees worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and checking account essential for international payroll are essential consider accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as planned. Ultimately, we do not do it for the appreciation.
anyhow 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 associated with those procedures and also so think of sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions think of getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and really see what was going on and type of shot to get back to everybody so carrying on look why do companies select to main different checking account there are organizations out there doing precisely this for specific nations and I have actually operated in a company or lots of organizations doing precisely that I can state it does not always feel efficient and it does create more work I understand we're not purposely doing that we're not producing additional work for any person where we do not need to and anyone that's handling that procedure 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 lots of factors one is it's the requirement I think people have actually got so utilized to we need a new checking account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I believe this is a process that requires taking a look at it needs altering however ultimately individuals are really stuck with what they're familiar
with best um modification is a challenging thing we all do not 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 lot of track of things um I understand certainly the benefits of having maintaining numerous savings account however there's a big amount of complexity goes with setting up a savings account preserving it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is big however I think the honest answer is change um individuals 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 have actually hit the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we've always 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 understand what could almost be figured out to be the next Century approximately there is a lot to track and this method does pose numerous obstacles um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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