Find out more about Papaya Global Customer Services ... We now have the capability to manage both our payroll and payments procedures on one merged 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 secure and reputable method of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app improves my payroll process, saving me a substantial quantity of time each month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Employee Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax statements and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive advantages bundles to global employees regardless of the number of workers in the business. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages companies in every nation, create local accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total work expenses dispersed per location, total employment expenses per cycle and far more.
Worldwide, I have actually shown management and strategic know-how in guiding large-scale populations of over 100,000 workers across 170 countries. Currently, I are accountable for managing payroll strategies, as pointed out by Mark. My function involves handling and establishing external collaborations, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We focus on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to fulfill 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 years of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The complexities and obstacles of this field have actually constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've kind of had a variety of different functions on the company side and likewise on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone originates from and I truly 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 really very gloomy and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business preserve different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya International payroll payments as a strategic property uh we'll also review a recap which must leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more typical and managing them becomes more and more intricate International organizations are wanting to find Solutions and brand-new ways to enhance procedures specifically from a payroll and cross-border payment perspective many companies maintain separate checking account just for payroll while some have numerous accounts in different countries does it make sense for business to keep separate checking account in some cases in various nations 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 assisting international business improve the episode complex procedures of
Guaranteeing precise, efficient, and prompt payroll payments is a complex difficulty for companies operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to optimize working capital, and find how enhancing worldwide payroll payments can change them from a burdensome task into a tactical possession.
Managing payroll internationally is an overwhelming task due to various regulations, compliance requirements, data security issues, and banking guidelines. The sheer number of staff members and organizations adds to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual procedures, data silos, and a lack of integration, causing disparities and inadequacies. In spite of residing in an era of technological improvements, 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 supply insights and solutions to simplify and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization invests in international payroll the less of an image they see an absence of presence also extends to payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of global organizations have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes inadequately communicated hires and terminations as well as absence management and system configurations and after that when you round all of it off and the information is delivered to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they count on the necessary numerous 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 obstacles business face when they're paying to workers or otherwise that's an excellent concern I constantly throw this back and say what is it what does not need to be included best and what does
it require to be considered there's varying Bank information 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 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 customer's own in-country account so there's intricacy wherever you look ideal ultimately developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and technology is allowing us to kind of move on with that it also also to add to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely essential that payroll and financing groups work closer together than ever um I'm always amazed when individuals say 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 split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often 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 individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of important to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being provided by businesses throughout the world so again you're just looking to add increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine obstacles or real difficult type of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding info into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to create additional handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you know that we are operating in today there is no reason that we are still making this as hard as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any service has from a cost point of view from an effect point of view on workers it is absolutely 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 destructive result on people's wellness and many other elements if people aren't paid uh I have actually always been surprised entering this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um but eventually payroll is such an essential cycle all of us find out about 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 workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done properly so leveraging the very first International Payments very first payroll payment service is a terrific primary step um offering an end-to-end payroll service for your staff members worldwide again I believe is another huge um procedure again lining up and ensuring you have standardization International processes all of those things are definitely essential to success success of organizations and lowering the number 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 have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know 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 simple as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm just I was just gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job trying to clean 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 need days of the week to attempt to look through them and in fact see what was going on and type of try to get back to everybody so proceeding look why do companies choose to main separate savings account there are organizations out there doing exactly this for specific countries and I have actually operated in a business or lots of companies doing precisely that I can state it doesn't always feel efficient and it does develop more work I know we're not deliberately doing that we're not developing additional work for anyone where we do not have to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the requirement I think people have actually got so used to we require a new savings account we open an entity and appropriately so you require 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 requirement and the standard the people have embraced 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 numerous other methods um to to kind of do it so I believe there's a variety I think this is a process that needs looking at it requires altering however ultimately individuals are really stuck with what they're familiar
with right um change is a difficult thing all of us don't like change um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having preserving several checking account however there's a huge quantity of intricacy opts for setting up a savings account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for private individuals so the complexity is huge however I believe the honest response is modification um individuals have not had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century approximately there is a lot to keep an eye on and this approach does position a number of obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you deserve a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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