Find out more about Papaya Global Company List File ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and trustworthy technique of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Employee Website supplies staff members with the ability to access and view essential files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to international workers despite the variety of staff members 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 need to source regional advantages suppliers in every nation, produce regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, total employment costs dispersed per place, total work costs per cycle and a lot more.
environments across the globe I provided management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work across the business handling and building external relationships supporting Enterprise clients and options as well as functioning as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
As a global company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in providing payroll and workforce management services to employees 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, despite your place. 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 company. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of various functions on the supplier side and also on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort 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 type of like see where everyone comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely very uninspiring and I wish I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate savings account for payroll in various nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic asset for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business properly anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in adequate in one country however when you're doing it worldwide it's next level and Beyond it becomes complex for a variety of factors most significantly regulations compliance information security and banking guidelines then there are the sheer numbers they include further intricacy the worldwide Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the standard payroll model there's frequently an overwhelming number of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in large amounts and or really really fundamental there's no real consistency structure we're residing in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more a service invests in global payroll the less of an image they see a lack of visibility likewise reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide services have revealed 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 poor HCM data information entry mistakes inadequately communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the data is shipped to the wrong place the average expense of an international 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 smoothly if they count on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges service face when they're making payments to staff members or otherwise that's a good concern I always throw this back and say what is it what does not need to be consisted of ideal and what does
it require to be considered there's differing Bank information 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 have to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is definitely important but all over you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to kind of progress with that it also too to add to that payroll and financing require to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely necessary that payroll and financing teams work better together than ever um I'm constantly 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 work in the payroll occupation would they split the payroll payment from calculation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high worth on well-being and the compensation landscape is ending up being significantly elaborate. Businesses are continually introducing brand-new advantages and payment options, which adds to the total intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my opinion, this does not have to hold true. In today's technically advanced period, there's no validation for keeping troublesome procedures. Payroll, the company's biggest expenditure, should be processed properly and on time. Even slight delays can adversely impact staff members' wellness and have far-reaching effects. For that reason, it's critical to prioritize precise and timely payments.
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually 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 just notice when things fail. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's viewed externally also. Therefore, it is vital to make sure that tasks like Wi-Fi International and other vital matters are done properly. Utilizing the first International Payments first payroll payment solution is a terrific initial step towards providing an extensive payroll option for staff members worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and checking account essential for worldwide payroll are key factors in attaining business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as prepared. Eventually, we do not do it for the thankfulness.
anyway 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 likewise so picture sorry I'm just I was just gon na say imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job trying 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 require days of the week to attempt to look through them and really see what was going on and kind of shot to return to everyone so moving on look why do business choose to primary separate checking account there are services out there doing exactly this for particular nations and I have actually worked in a business or lots of organizations doing precisely that I can state it does not constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing extra work for anybody where we don't have to and anyone that's managing 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 believe lots of reasons one is it's the requirement I think people have got so used to we need 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 requirement and the norm individuals have adopted 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 kind of do it so I think there's a range I believe this is a process that requires looking at it requires changing however eventually individuals are very stuck to what they recognize
with best um change is a challenging thing all of us do not like modification um so I believe it's just kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having preserving multiple bank accounts but there's a big quantity of complexity goes with setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for private people so the intricacy is huge however I believe the sincere answer is change um individuals have not been able to change or have not had always the knowledge to really make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century approximately there is a lot to track and this method does present numerous obstacles um so Johnny could you inform us about those difficulties yeah of course so there's a range right there is so
I recently made a modification to our Enterprise 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 improved ability, I have effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your achievements.
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