Find out more about Papaya Global Certification ... 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 acquired a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a secure and reliable method of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and specialists
Employee Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business offer competitive benefits packages to international workers no matter the number of staff members in the business. The company can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source regional advantages suppliers in every country, create local accounts and have a minimum number of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall work expenses dispersed per location, overall employment expenses per cycle and far more.
Globally, I have demonstrated management and strategic competence in directing massive populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role involves managing and developing external collaborations, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The intricacies and obstacles of this field have always captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I have actually type of had a range of various functions on the provider side and likewise on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds approximately to join we all 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 already simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it is 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 extremely extremely gloomy and I want I was somewhere else at this moment in time alright so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a tactical asset uh we'll likewise discuss a recap which needs to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become increasingly more typical and handling them becomes increasingly more complicated Worldwide companies are seeking to find Solutions and brand-new methods to improve processes especially from a payroll and cross-border payment standpoint many companies keep different bank account just for payroll while some have several accounts in different countries does it make sense for companies to maintain different savings account in some cases in various countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational companies improve the episode complex processes of
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to optimize working capital, and find how improving international payroll payments can transform them from a burdensome task into a tactical possession.
Handling payroll globally is an overwhelming job due to different guidelines, compliance requirements, information security issues, and banking guidelines. The large variety of workers and companies adds to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems often result in manual processes, data silos, and a lack of combination, causing disparities and ineffectiveness. Despite living in an era of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to offer insights and options to streamline and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more a business invests in worldwide payroll the less of a picture they see an absence of presence also reaches payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide companies have actually expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors badly communicated hires and terminations as well as absence management and system setups and then when you round it all off and the information is shipped to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they rely on the required multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties company face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and say what is it what does not require to be included ideal and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities 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 complexity anywhere you look ideal ultimately constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and innovation is allowing us to sort of progress with that it also also to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely imperative that payroll and finance teams work better together than ever um I'm always amazed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market 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 anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more essential to add to kind of the level of complexity there's a growing number of advantages being organ or being provided by services across the world so once again you're just aiming 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 large experience here and I'm sure but have you got any experience in kind of real difficulties or genuine difficult kind of pay uses to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would certainly state that the bigger a business 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 teams feeding details into the next function as it were that's in fact handling the payment side of things however you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we run in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and a period that you understand that we are working in today there is no reason that we are still making this as difficult as it needs to be agreed and rightly as you said payroll is the single greatest liability that any business has from an expense point of view from an impact point of view on workers it is definitely important that it's done correctly 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 greatest harmful result on individuals's wellness and many other elements if people aren't paid uh I've always been amazed entering this Market sort 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 anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just observe when things go wrong. However, when things go right, it's seen as simply a routine job. This is how it's viewed externally as well. For that reason, it is important to make sure that jobs like Wi-Fi International and other important matters are done correctly. Using the very first International Payments very first payroll payment service is a terrific preliminary action towards offering an extensive payroll service for staff members worldwide. Standardization, global procedures, and decreasing the number of tools, platforms, and savings account required for international payroll are crucial factors in accomplishing organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things do not go as planned. Eventually, we don't do it for the appreciation.
anyway we understand how how crucial a function 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 everyone that's associated with those processes and likewise so imagine sorry I'm just I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting job trying to clean up all those up for sure oh definitely 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 check out them and in fact see what was going on and kind of try to return to everybody so moving on look why do companies pick to primary different checking account there are businesses out there doing precisely this for particular countries and I have actually worked in a business or many organizations doing precisely that I can say it does not always feel effective and it does produce more work I know we're not purposely doing that we're not developing additional work for any person where we don't have to and anyone that's handling 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 numerous factors one is it's the requirement I believe people have got so used to we need a brand-new savings account we open an entity and rightly so you need 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 standard and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a range I think this is a procedure that needs looking at it requires changing however eventually individuals are very stuck to what they recognize
with best um change is a hard thing we all don't like change um so I think it's simply type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having maintaining multiple bank accounts however there's a huge quantity of intricacy opts for setting up a checking account maintaining it ensuring it can send out International transfers ensuring it's set up with the right user accesses for individual people so the intricacy is substantial however I believe the sincere response is change um individuals haven't had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century or two there is a lot to track and this method does pose several challenges um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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