Find out more about Papaya Global Cloud 50 ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to handling payments. This provides us with a protected and trusted technique of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
Worker Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages packages to worldwide employees no matter the number of employees in the company. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source regional benefits companies in every country, produce local accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, overall employment costs dispersed per location, overall work expenses per cycle and much more.
Worldwide, I have actually demonstrated leadership and tactical competence in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for supervising payroll techniques, as pointed out by Mark. My role includes managing and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a global business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We focus on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually always captivated me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've type of had a variety of various roles on the provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely very bleak and I want I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya International payroll payments as a tactical asset uh we'll also go over a recap and that needs to leave his time at the really extremely 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 International workforces become increasingly more typical and handling them becomes increasingly more complex Worldwide organizations are wanting to find Solutions and brand-new methods to streamline processes particularly from a payroll and cross-border payment perspective lots of companies maintain separate bank account just for payroll while some have several accounts in different nations does it make sense for companies to preserve different savings account often in various nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international business simplify the episode complex processes of
Ensuring accurate, effective, and timely payroll payments is a complex difficulty for services operating globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to enhance working capital, and discover how improving global payroll payments can change them from a challenging job into a strategic possession.
Managing payroll globally is a difficult job due to numerous policies, compliance requirements, information security issues, and banking rules. The large number of staff members and services adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems typically lead to manual procedures, information silos, and an absence of integration, resulting in inconsistencies and inefficiencies. In spite of residing in an age of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to supply insights and options to simplify and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that offers me sleepless nights and quite honestly the more a company invests in international payroll the less of a photo they see an absence of exposure also reaches payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the deal nearly half of worldwide businesses have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors improperly interacted hires and terminations along with lack management and system configurations and after that when you round everything off and the information is delivered to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they rely on the essential several 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 making payments to staff members or otherwise that's a good question I always throw this back and say what is it what doesn't need to be consisted of ideal 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 nation 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 complexity any place you look right eventually constructing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like super payments no if but some children about it you are all superheroes processing payments for payroll if you take a 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 basic and innovation is permitting us to kind of progress with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work closer together than ever um I'm always amazed when people state 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 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 process it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more essential to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being used by services throughout the world so again you're just wanting to add a growing number of 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 challenging type of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to create extra handoffs in the processes that we operate in they just make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason why we are still making this as challenging as it needs to be concurred and rightly as you said payroll is the single most significant liability that any business has from an expense perspective from an impact point of view on employees it is absolutely important 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 need to be done right it has the most significant destructive effect on people's wellness and numerous other elements if people aren't paid uh I've always been impressed entering this Market type of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals only notice when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally as well. For that reason, it is necessary to ensure that jobs like Wi-Fi International and other important matters are done properly. Using the first International Payments very first payroll payment service is a fantastic initial step towards offering an extensive payroll option for employees worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and checking account necessary for international payroll are key consider attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things do not go as planned. Ultimately, we don't do it for the gratitude.
anyway we know how how essential a role 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 involved in those procedures and also so imagine sorry I'm just I was simply gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job trying to clean up all those up for sure oh definitely I can't think of 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 in fact see what was going on and kind of try to return to everybody so carrying on look why do business pick to main different checking account there are services out there doing exactly this for specific nations and I've worked in a company or numerous services doing exactly that I can state it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not creating additional work for anyone where we don't have to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the requirement I think people have actually got so utilized to we require a brand-new savings account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires altering however eventually individuals are very stuck to what they recognize
with right um modification is a tough thing we all don't like modification um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having preserving multiple savings account however there's a big amount of intricacy opts for establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the complexity is huge however I think the sincere answer is change um people haven't been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to alter however we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could practically be figured out to be the next Century or two there is a lot to track and this technique does pose several obstacles um so Johnny might you tell us about those difficulties yeah obviously so there's a variety right there is so
I just did you switched our Enterprise 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 workers you should have a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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