Find out more about Papaya Global Bureau Manager ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and secure and trustworthy method of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app enhances my payroll process, conserving me a significant amount of time each month. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Staff member Portal provides employees with the ability to access and view important documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global assists business offer competitive benefits bundles to international staff members no matter the number of staff members in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source local benefits companies in every country, develop regional accounts and have a minimum number of employees.
The HR abilities offered by Worldwide HR encompass various functions such as monitoring holiday time, ensuring compliance, assisting in the process of welcoming brand-new staff members and bidding farewell to leaving ones, offering a safe and secure online platform for saving workers' files, and providing support for work allow treatments in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total work expenses dispersed per area, overall employment costs per cycle and much more.
Globally, I have actually demonstrated leadership and strategic expertise in assisting large-scale populations of over 100,000 staff members across 170 countries. Presently, I are accountable for supervising payroll strategies, as mentioned by Mark. My role includes handling and establishing external partnerships, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As an international company, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We focus on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a satisfaction to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I've kind of had a variety of various roles on the provider side and also on the supplier side from a payroll point of view so really looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone comes from and I actually 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 drizzling here it's very extremely uninspiring and I want I was elsewhere at this moment in time okay 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 managing Global payroll why business keep different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic possession uh we'll also go over a recap and that should leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more common and handling them becomes increasingly more intricate International companies are looking to find Solutions and new ways to streamline procedures specifically from a payroll and cross-border payment viewpoint numerous companies keep separate savings account just for payroll while some have multiple accounts in different nations does it make sense for companies to preserve separate bank accounts in some cases in different countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies improve the episode complex processes of
Guaranteeing accurate, effective, and prompt payroll payments is a complex obstacle for organizations operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to optimize working capital, and discover how enhancing worldwide payroll payments can change them from a troublesome task into a strategic property.
Handling payroll globally is a daunting job due to numerous regulations, compliance requirements, data security concerns, and banking rules. The large number of employees and services adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often lead to manual procedures, data silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. In spite of living in a period of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to supply insights and options to streamline 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 state they have Workforce data in real time that's another number that provides me sleep deprived nights and rather honestly the more a service spends on worldwide payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide businesses 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 data data entry errors badly interacted hires and terminations along with lack management and system setups and after that when you round all of it off and the data is delivered to the wrong place the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the necessary several procedures systems and partners it is simply 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 concern I always toss this back and say what is it what does not need to be included best and what does
it need to be thought about there's varying Bank details 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 customer's own in-country account so there's intricacy wherever you look ideal eventually constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and technology is permitting us to kind of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely important that payroll and financing teams work closer together than ever um I'm constantly impressed when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession 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 frequently 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 wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more important to contribute to type of the level of complexity there's a growing number of advantages being organ or being used by companies across the world so once again you're simply seeking to add a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine challenges or real tough kind of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of years I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my opinion 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 run in they simply make them more timely 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 know that we are operating in today there is no reason we are still making this as tough as it needs to be concurred and rightly as you said payroll is the single most significant liability that any organization has from a cost viewpoint from an impact viewpoint on workers it is definitely 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 detrimental effect on individuals's well-being and many other factors if people aren't paid uh I have actually constantly been astonished entering this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm unsure anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however eventually payroll is such a crucial cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the very first International Payments first payroll payment solution is an excellent first step um supplying an end-to-end payroll solution for your employees internationally once again I think is another huge um procedure again lining up and guaranteeing you have standardization Global processes all of those things are absolutely crucial to success success of companies and minimizing the variety of tools platforms and bank accounts they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyhow we know 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 everyone that's associated with those procedures and also so think of sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions picture getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job attempting to clean all those up for sure oh absolutely 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 try to look through them and really see what was going on and kind of shot to return to everyone so proceeding look why do business pick to main different checking account there are businesses out there doing precisely this for specific nations and I have actually operated in a service or numerous businesses doing precisely that I can say it doesn't always feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating extra work for anybody where we don't need to and anybody that's handling that process 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 numerous reasons one is it's the standard I believe individuals have got so used to we require a new savings account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a variety I believe this is a process that requires taking a look at it requires changing but eventually individuals are very stuck to what they recognize
with best um modification is a tough thing we all do not like modification um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the benefits of having maintaining several checking account however there's a substantial quantity of complexity chooses establishing a checking account preserving it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for private individuals so the intricacy is huge but I think the honest answer is change um individuals haven't had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to alter but we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or two there is a lot to monitor and this technique does present several challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I simply did you changed 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 employees you should have a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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