Find out more about Papaya Global Cis ... 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 committed to handling payments. This offers us with a safe and secure and reliable technique of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
The Worker Website provides staff members with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to global employees despite the variety of employees in the company. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source local benefits companies in every country, produce local accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, total work costs dispersed per area, total employment costs per cycle and much more.
Worldwide, I have shown leadership and strategic competence in guiding massive populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for overseeing payroll strategies, as pointed out by Mark. My role includes handling and establishing external partnerships, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We focus on supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a pleasure to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment options for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I've type of had a variety of different roles on the supplier side and also on the supplier side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very really uninspiring and I want 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 taking a look at the difficulty years of managing Worldwide payroll why business keep separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic asset uh we'll also go over a recap which should leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of common and managing them becomes more and more complex Worldwide companies are aiming to discover Solutions and new ways to streamline procedures particularly from a payroll and cross-border payment standpoint numerous organizations preserve separate bank account just for payroll while some have multiple accounts in different nations does it make good sense for business to preserve separate checking account often in different nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting international companies enhance the episode complex procedures of
Making sure precise, effective, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, learn how business anticipate payroll expenses to optimize working capital, and discover how simplifying worldwide payroll payments can change them from a difficult task into a tactical possession.
Managing payroll internationally is a difficult job due to numerous guidelines, compliance requirements, data security concerns, and banking rules. The sheer variety of staff members and companies adds to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and an absence of integration, leading to disparities and ineffectiveness. Regardless of residing in an era of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to provide insights and solutions to simplify and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more a service spends on international payroll the less of an image they see a lack of presence also reaches payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction nearly half of international businesses have expressed 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 because of time reporting poor HCM data information entry errors badly interacted hires and terminations as well as lack management and system setups and after that when you round all of it off and the data is delivered to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they count on the required multiple 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 organization face when they're paying to workers or otherwise that's an excellent question I always toss this back and say what is it what doesn't require to be consisted of ideal 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 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 client's own in-country account so there's complexity wherever you look best ultimately building a knowledge base is definitely important however everywhere you look with payroll payment they resemble super payments no if but 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 kind of progress with that it likewise also to contribute to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely imperative that payroll and financing groups work more detailed together than ever um I'm always amazed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on well-being and the compensation landscape is ending up being significantly elaborate. Businesses are continuously introducing new advantages and payment choices, which adds to the overall intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can result in inadequacies and traffic jams. In my opinion, this does not need to be the case. In today's highly advanced age, there's no reason for keeping troublesome treatments. Payroll, the company's biggest cost, need to be processed properly and on time. Even slight hold-ups can adversely affect staff members' wellness and have far-reaching effects. Therefore, it's important to focus on precise and timely payments.
payroll group get um so I'm not exactly sure anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle all of us find out about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment option is a fantastic initial step um offering an end-to-end payroll solution for your staff members internationally once again I believe is another huge um procedure again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely key to success success of companies and minimizing the variety of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone quite where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how essential 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 simple as possible for everyone that's involved in those procedures and also so think of sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions think of getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing 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 was the case um you 'd require days of the week to attempt to browse them and actually see what was going on and type of shot to return to everyone so proceeding appearance why do business choose to main separate checking account there are companies out there doing precisely this for particular countries and I've operated in a company or numerous companies doing exactly that I can say it doesn't always feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating extra work for anyone where we don't need to and anybody 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 think numerous reasons one is it's the standard I think people have actually got so used to we require a brand-new savings account we open an entity and rightly 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 standard the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I think this is a process that requires taking a look at it needs changing but ultimately 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 think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having preserving several checking account but there's a big amount of intricacy chooses establishing a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is substantial however I think the sincere answer is modification um individuals have not had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter however we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be determined to be the next Century or so there is a lot to monitor and this technique does posture numerous difficulties um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I recently made a change to our Business 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 gotten another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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