Find out more about Papaya Global Access Levels ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This supplies us with a secure and trusted technique of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and contractors
The Employee Portal offers workers with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Advantages Administration
Papaya Global assists business offer competitive benefits plans to global employees no matter the number of workers in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source regional benefits providers in every nation, create regional accounts and have a minimum number of employees.
The HR abilities supplied by Global HR encompass various functions such as keeping an eye on trip time, making sure compliance, assisting in the procedure of inviting new staff members and bidding goodbye to leaving ones, providing a safe and secure online platform for storing workers' documents, and providing assistance for work allow treatments in case your employees need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall employment expenses distributed per location, total work expenses per cycle and far more.
Internationally, I have demonstrated management and strategic knowledge in directing large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role includes managing and developing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's an enjoyment 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 intricacies and challenges of this field have constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of various functions on the supplier side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing 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 originates from and I truly 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 raining here it's really really gloomy and I wish I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies maintain different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a strategic possession uh we'll also go over a wrap-up which should leave his time at the very very end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more common and handling them becomes increasingly more complicated Worldwide organizations are seeking to find Solutions and new ways to streamline procedures particularly from a payroll and cross-border payment standpoint numerous companies maintain separate checking account just for payroll while some have numerous accounts in various nations does it make good sense for companies to keep different bank accounts often in different countries it does however just for payroll is there a much better way what role do virtual accounts and digital wallets also called virtual wallets play in assisting multinational companies enhance the episode complex processes of
Ensuring precise, effective, and prompt payroll payments is a complex obstacle for companies running internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, find out how companies forecast payroll costs to optimize working capital, and find how simplifying worldwide payroll payments can change them from a troublesome task into a tactical possession.
Handling payroll worldwide is an overwhelming task due to numerous regulations, compliance requirements, information security concerns, and banking guidelines. The large number of staff members and organizations adds to the complexity, with an estimated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically lead to manual procedures, information silos, and a lack of combination, leading to disparities and inefficiencies. In spite of residing in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to offer insights and solutions to streamline 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 state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a company invests in international payroll the less of a photo they see an absence of exposure likewise reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide services have actually expressed 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 data information entry errors improperly interacted hires and terminations in addition to absence management and system configurations and then when you round all of it off and the data is shipped to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they rely on the needed several processes 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 challenges service face when they're making payments to employees or otherwise that's a great question I always throw this back and say what is it what does not need 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 country there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually building a knowledge base is absolutely important 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 take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is enabling us to sort of progress with that it also also to add to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and finance teams work closer together than ever um I'm always impressed when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often 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 any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to contribute to sort of the level of complexity there's a growing number of benefits being organ or being offered by companies throughout the world so once again you're simply wanting to add increasingly more payments to this currently complicated landscape so if you sort 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 real challenges or real tough type of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a number of decades I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding details into the next function as it were that's really handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to develop additional handoffs in the processes that we run 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 age that you understand that we are working in today there is no reason why we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single most significant liability that any business has from an expense viewpoint from an effect point of view on workers it is absolutely important 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 have to be done right it has the most significant damaging effect on individuals's well-being and many other aspects if individuals aren't paid uh I have actually constantly been astonished entering this Market type of the last five to ten years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial 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 necessary to guarantee that jobs like Wi-Fi International and other important matters are done properly. Using the very first International Payments very first payroll payment service is a great initial step towards offering a detailed payroll service for employees worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and bank accounts necessary for worldwide payroll are essential consider accomplishing organization success. While we don't anticipate 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 do not do it for the gratitude.
anyway we know how how crucial a role 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 everybody that's associated with those procedures and also so think of sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing job attempting to clean all those up for sure oh absolutely I can't envision 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 actually see what was going on and sort of shot to return to everyone so carrying on appearance why do business pick to primary separate bank accounts there are organizations out there doing precisely this for specific countries and I have actually operated in a service or lots of companies doing exactly that I can say it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not producing extra work for any person where we don't need to and any person that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I think individuals have actually got so used to we require a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually 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 many other ways um to to kind of do it so I believe there's a variety I think this is a procedure that requires taking a look at it requires altering however ultimately people are very stuck with what they recognize
with best um modification is a tough thing we all do not like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having preserving multiple bank accounts however there's a big amount of complexity chooses establishing a savings account maintaining it ensuring it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the complexity is huge however I believe the sincere response is change um individuals haven't been able to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to track and this technique does posture several difficulties um so Johnny could you tell us about those challenges yeah obviously so there's a variety right there is so
I 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 acquired another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your achievements.
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