Find out more about Papaya Global And Accounting ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This offers us with a safe and secure and dependable method of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
Worker Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment files. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to worldwide staff members regardless of the variety of staff members in the business. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages companies in every nation, develop local accounts and have a minimum variety of workers.
The HR capabilities offered by Global HR incorporate numerous functions such as keeping track of trip time, making sure compliance, assisting in the procedure of inviting new employees and bidding farewell to departing ones, providing a secure online platform for storing employees' files, and supplying assistance for work allow procedures in case your workers need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall employment expenses dispersed per area, overall employment expenses per cycle and far more.
Worldwide, I have shown management and strategic proficiency in directing large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for supervising payroll methods, as mentioned by Mark. My role involves handling and developing external collaborations, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment solutions for the past seven years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of different roles on the provider side and also on the vendor side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type 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 kind of like see where everybody originates from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's very very uninspiring and I wish I was elsewhere 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 obstacle years of handling Worldwide payroll why companies maintain different
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for services running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, find out how business forecast payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can change them from a burdensome job into a tactical possession.
Managing payroll internationally is a challenging task due to different guidelines, compliance requirements, information security issues, and banking rules. The large number of workers and services adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Traditional payroll systems often lead to manual procedures, data silos, and a lack of combination, resulting in inconsistencies and inefficiencies. Regardless of residing in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to provide insights and options to streamline and optimize worldwide payroll payments.
about it to offer you an idea 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 quite frankly the more a service invests in international payroll the less of an image they see a lack of visibility likewise extends to payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide services have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors poorly interacted hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the data is shipped to the wrong place the typical expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they rely on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties service face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't need to be included ideal and what does
it require to be thought about there's varying 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy anywhere you look best ultimately building a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind 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 basic and technology is allowing us to type of move on with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely essential that payroll and finance groups work closer together than ever um I'm constantly surprised when individuals state I have actually divided payroll and payment um if you stroll 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 eventually it's payroll is an end-to-end process it's the point of information 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 live in and wellness being a growing number of crucial to contribute to kind of the level of complexity there's a growing number of advantages being organ or being offered by companies across the world so once again you're just aiming to add more and more payments to this already complicated landscape so if you type 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 challenges or real difficult kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of years I would absolutely state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding information into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce extra handoffs at the same times that we run 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 era that you understand that we are working in today there is no reason we are still making this as tough as it requires to be agreed and rightly as you said payroll is the single most significant liability that any business has from a cost point of view from an impact viewpoint on staff members it is definitely critical that it's done correctly and on time so what we indicate 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 effect on individuals's wellness and lots of other aspects if people aren't paid uh I have actually constantly been surprised entering this Market kind of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just see when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally also. For that reason, it is vital to ensure that tasks like Wi-Fi Global and other crucial matters are done correctly. Using the very first International Payments very first payroll payment solution is a terrific preliminary step towards supplying a comprehensive payroll service for employees worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and checking account necessary for worldwide payroll are crucial consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things don't go as planned. Eventually, we don't do it for the thankfulness.
anyhow we understand 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 simple as possible for everybody that's associated with those procedures and also 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 people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job 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 need days of the week to try to browse them and really see what was going on and type of shot to return to everybody so moving on appearance why do companies pick to main different checking account there are services out there doing exactly this for particular nations and I've worked in a company or numerous companies doing precisely that I can state it doesn't always feel efficient and it does develop more work I understand we're not purposely doing that we're not producing additional work for any person where we don't need to and anybody that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think lots of reasons one is it's the standard I believe individuals have got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it needs altering but eventually people are really stuck to what they recognize
with best um modification is a difficult thing all of us don't like modification um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having keeping several bank accounts but there's a huge quantity of complexity chooses establishing a checking account maintaining it ensuring it can send International transfers ensuring it's established with the best user accesses for private individuals so the intricacy is substantial but I believe the truthful answer is change um people have not been able to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I think you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to keep an eye on and this approach does posture a number of difficulties um so Johnny could you inform us about those challenges yeah obviously so there's a range right there is so
I just did you changed our Business 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 staff members you should have a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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